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strategic marketing (Subject) / strategies in foreign markets (Lesson)
- How does the strategy planning process work? its a process of evaluating the enterprises environment and its internal strengths, before identifying long and short-range activities
- What is the EPRG Framework? a framework which helps determine the specific decisions Ethnocentric, home country is superior, assume similarities in target countries Regiocentric, sees similiarities and differences in a world region polycentric, each host country is unique geocentric, sees similiarities and differences in a world
- What are big strategy issues? customize or standarize in each country same strategy, or customized in each country where to locate facilities how to transfer
- What are challenges to internationalisation? cross country differences such as culture, lifestyle, political, economical market differences such as customer tastes, buying habits, driving forces
- How to gain competitive advantage in a foreign market location is very important, concentrate or disperse effective transfer of knowledge between different countries coordinate dispersed activities in ways a domestic only comeptitor cannot
- What is cross market subsidizaration? supporting one market with resources/profits from an other market
- What are the three corporate level strategies and name three characteristics Multidomestic (decisions are decentralized, products and services are tailored to each country...) global strategy (standarized products across markets, emphazises economy of scale) transnational strategy (seeks to achieve both, global efficiency and local responsivenes, but difficult to achieve)
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