Chapter One Marketing 358

Chapter One Marketing 358

1. International marketing- As a practice, it consists in coordination of four elements called 4P's: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy. When it is international all of the above are geared towards the international audience

Controllable elements- controllable elements, also known as internal elements, are those which are within the organization which are eligible to controlling the operation of an organization, which includes the management, the hierarchy of the business, the personnel, the missions and visions of the organization and etc.

Uncontrollable elements-Known as external forces, are things that are beyond the control of an enterprise, for example the climate, the culture, competitors, government and policies etc.

Domestic and foreign uncontrollable- external forces which are usually the result of government and policies i.e.- tariffs, taxes, trading bans, etc.

Marketing relativism- a subtle unintended result of cultural conditioning

Self-reference criterion-an unconscious reference to one’s own cultural values, experiences, and knowledge as a basis for decision making

Global awareness- having tolerance of cultural differences and knowledge of cultures, history, world market potential, and global, economic, social, and political trends

2. The four phases of international marketing are no direct foreign marketing, infrequent foreign marketing, regular foreign marketing, and international marketing. As each phase progresses companies transition in the amount of foreign marketing that they do. Ultimately many companies eventually practice international marketing indicating full fledged dedication to international marketing

3. Conditions which have led to global markets have to do with the global market and the...