International Marketing: Key Concepts and Strategies

Posted on Mar 14, 2025 in Business Administration and Management (BAM)

International Marketing: Key Concepts

  1. Defining Marketing (AMA)

    Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

  2. Defining International Marketing (AMA)

    International marketing is the multinational process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

  3. What is a Global Firm?

    A global firm operates in more than one country, gaining marketing, production, R&D, and financial advantages not available to purely domestic competitors.

  4. Five Models of Entry into Foreign Markets

    • Licensing & Franchising
    • Direct Export
    • Indirect Export
    • Joint Venture
    • Direct Investment

  5. Major Decisions in International Marketing

    Analyzing the GDP to calculate the “willingness to buy” variable is a key decision.

  6. Differences Between International and Domestic Marketing

    Culture is a significant difference between international and domestic marketing.

  7. What is a Need in Marketing?

    Needs are states of felt deprivation, including physical needs for food, social needs for belonging, and individual needs for self-expression.

  8. Value Proposition

    A value proposition is a set of benefits that satisfy those needs.

  9. Defining Value

    Value is a consumer’s perception of the product’s benefits.

  10. Local vs. Global Concerns

    Success comes from a balance between local and regional/global concerns. False

  11. Three Main Variables for a Marketing Plan

    Size, willingness to buy, and wealth.

  12. Key Customer Markets

    Consumer markets, business markets, and global markets.

  13. Marketing Myopia

    Marketing Myopia is when firms focus on the product and not on the customers.

  14. Adaptation Strategy

    A third alternative is to adopt an invention strategy by which products are designed from scratch for the global marketplace.

  15. Basic Differences in International Marketing

    Two examples of basic differences are currency variation and distance.

  16. Waterfall Model

    The waterfall model is a model for marketing planning and execution that follows more traditional lines. Linear and sequential, the process flows steadily downward, waterfall fashion, through set phases. These phases include conception, initiation, analysis, design, construction, testing, production/implementation, and maintenance.

  17. Qualities of Successful International Companies

    International successful companies all share patience and quality. True

  18. Barbie Case Study

    In the Barbie case study, Mattel has experienced problems in entering the Japanese market.

  19. Caveat: The Problem with Data

    Caveat: a warning.

  20. Colombia’s Minimum Wage (2018)

    Colombia’s minimum wage for 2018 is: 781,242

  21. Barbie Case: Cultural Adaptation

    According to the Barbie case: “Mattel has learned that, to be successful within a foreign culture, Barbie does not need a total overhaul but instead can be very profitable with minor cosmetic changes”: True

  22. Defining Culture

    Culture is an integrated system of learned behavior patterns that are distinguishing characteristics of the members of any given society.

  23. Fad Definition

    A fad is “unpredictable, short-lived, and without social, economic, and political significance”.

  24. Supply Chain Management (SCM)

    The supply chain management of SCM is the planning and management of all activities involved in sourcing and procurement, conversion, and logistics.

  25. The 4 P’s of Marketing

    In Marketing, the 4 P’s are: place, product, price, and promotion.

  26. Channel Design: Length and Width

    According to the channel design, length is determined by the number of levels, or different types, of intermediaries. Channel width is determined by the number of institutions of each type in the channel.

  27. Characteristics of Chinese Video

    Loan to relatives …

  28. Positioning a Product

    “Quienes son y qué buscan.” (Who are they and what are they looking for?) It is the first question we have to ask ourselves for positioning a product. This statement is: False

  29. Global Firm Operations

    Global firms plan, operate, and coordinate their activities on a worldwide basis.