strategic marketing (Fach) / Greene (Lektion)
In dieser Lektion befinden sich 20 Karteikarten
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Diese Lektion wurde von kennyflorian erstellt.
- Explain what is meant by proactive and reactive motives for internationalization. Name and 2 examples of motives in each category. Proactive is about reacting to a problem before it arises (Technology competence, Profit and growth) Reactive is about reacting to an existing problem (competitive pressure, overproduction)
- Is it advisable for every company to internationalize? No, it always depends on the preparedness for internationalization and the industry globalism where the company is in (solberg matrix)
- What is the definition of the market entry mode? The market entry mode is an insitutional arrangement necessary for the entry of a company's products, technology and human capital into a foreign market/ country.
- What is meant by a degree of internationalization and externalization of an entry mode? Give examples of different degrees. external: Country risk/ demand uncertainty, direct and indirect barriers, intensity of competition internal: Firm size, international experience
- Export modes and how its structured: Indirect export: Like a domestic sale Appropriated for firms with limited international expansion Appropriated for firms using it as disposing surplus Direct Export: Export via distributors Export via agents Cooperative export
- What is meant by international market segmentation? understood as country/ group of countries or group of customer with similar characteristics
- What is meant by international market segmentation and what are the steps Characteristics of a firm Degree of internationalization goals types of industry size of resources Characteristics environment international industry structure degree of internatiolization on the market Steps: Selection of relevant segmentation criteria development of segments screening of segments mircosegmentation Market Entry! How many, when and what sequence?!
- Differentiate between a simultaneous and incremental market entry strategy by explain what is meant by each term+examples. What are the advantages and disadvantages? The incremental entry is also called waterfall entry and illustrates the establishment in one market before entering a different market, this is usually used by products with a long product cycle In contrast there is the simultaneous approach, also called sprinkler approach, which is about entering different markets at the same time, especially products with a short product cycle like technology products take advantage of this method
- What is meant by “forces for global integration” and forces for “market responsiveness” + examples “Forces for global integration” Includes drivers which make it important for companies to standardize across markets (global accounts, technology, removal of trade barriers) “Forces for market responsiveness” includes the adaption for companies to the particular circumstances (cultural differences, religion)
- Explain three corporate level strategies for international business discuss Multidomestic Characteristics are decentralization of strategy and business units in each country assumes markets differ from country or region focus on local competitio Global strategy Characteristics Standardized products across national markets Decisions are made in the home office Emphasizes economy of scale Transnational strategy Characteristics Seeks to achieve global efficiency and local responsiveness Difficult to achieve Must pursue organizational learning to achieve competitive advantage
- What is meant by pattern versus prototype standardization? Prototype reflects the same advertisement in every single county with translation or idiomatic changes Pattern is designed at the outset for use in multiple markets, provides uniformity in direction but not in detail
- Explain the difference between multi domestic and global markets by following characteristics in each type of market: Market boundaries (MD: Market boundaries within countries, GM: transcended when they pass country boarder)Its Customers (MD: very different, GM: similar customers) Competition (MD: local competition in each market, GM Marketing/ country interdependencies (MD: specialized on each country, one for al) Strategies (MD: decentralized, Global: centralized)
- a.) Can this also influence how companies internationalize? (domestic and global market) - Yes! Because e.g. depending on the size of the company, not every company is able to effort a multi domestic strategy, it needs some research and time. Big companies could use the global strategy if their strategy works in other parts of the world and could adapt little changes regarding the market.
- What is a meant by concepts of “concentration” and “dispersion”+examples - Concentration describes the focus on one country, whereas dispersion is about activities in many countries
- When should you concentrate or disperse activities? Concentrate: when production costs in one specific area much cheaper, steep learning curve associated with performing in a single country Dispersion: performance near buyers, transportation, trade barriers etc very expensive
- What is international price policy? Management of prices and price policies in international markets
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- Which customer groups have to be taken into account when setting international price policy? - Consumers or individual users - Wholesalers - Partners - Licencees - Eg. Joint ventures
- Influencing factors of price ceiling and price floor Ceiling is the maximum value of a product to the last prospective customers Price floor represents the cost base which has to be recoverd through sell
- Influencers are - Firm level factors - Product factors - Environmental factors - Market factors - Firm performance - Other elements
- Influencers are: - Firm level factors - Product factors - Environmental factors - Market factors - Firm performance - Other elements