International Marketing: Key Concepts and Definitions
Key Concepts in International Marketing
The 4 Phases of International Planning
- Analysis and Screening: Company character, environmental factors.
- Adapting the Marketing Mix: Tailoring to target markets.
- Marketing Plan Development.
- Implementation, Evaluation, and Control.
The 4-Step Error Self-Reference Criterion (SRC)
- Define the business problem in home-country values, habits, or norms.
- Define the business goal in foreign-country cultural habits, norms, and values through consultation with natives. Make
Industry Evolution: Strategies for Success in Different Market Stages
Fragmented Industry
A fragmented industry is composed of a large number of small and medium-sized companies.
Reasons for Fragmentation:
- Low barriers to entry due to lack of economies of scale.
- Low entry barriers allow constant entry of new companies.
- Diseconomies of scale may be present.
Strategies:
- Chaining: Achieve cost leadership. (e.g., Tagliatelle).
- Franchising: Facilitates rapid growth with an established business model.
- Horizontal Merger: Acquire competitors to consolidate market share.
- Information
EU Structural Policies: Objectives, Instruments, and Principles
EU Structural Policies: An Introduction
The European Union (EU) employs structural policies to address regional disparities and promote economic and social cohesion. These policies involve various instruments and operate under specific principles.
Structural Instruments
Several key instruments support the EU’s structural policies:
- European Coal and Steel Community (ECSC, 1951): Addressed structural issues in the coal and steel sectors.
- European Social Fund (ESF) and European Agricultural Guidance and
Network Effects and Standards in Business
Network Effects and Standards
Network effects exist for good A if each user’s utility from A increases with the total number of users of A. There are two types:
- Direct: A user’s utility depends directly on the number of other users, without any other good involved.
- Indirect: A growing number of A-users leads to an increased offer of complements B, which indirectly increases each user’s utility.
Network Utility with N Users
- Cartier: Utility per user decreases with the increase of users; total utility
Understanding Group Dynamics and Leadership
Hidden Agendas in Groups
Hidden agendas are interests or targets that cannot be openly discussed, often being unmentionable. They can stem from grudges, resentments, ambitions, revenge, prejudice, or desires contrary to the group’s objectives or rules.
Leadership vs. Management
Leadership involves influencing people’s behavior to achieve specific objectives. Management, on the other hand, is about planning, organizing, facilitating, staffing, and controlling subordinates’ activities.
Formal vs. Informal
Read MoreCustomer Satisfaction: Attributes and CRM
Global Product
Global product includes everything the organization does and contributes to the satisfaction, or not, of the customer’s requirements.
Attributes: Hygiene
Hygiene attributes are expected to be part of the essential product. The lack of hygiene attributes can cause customer dissatisfaction. This can be predicated in relation to a range of activities nearby called customer delivery processes (credibility, reliability, accessibility, tangibles, security).
Attributes: Satisfiers
Satisfier attributes
Read More