This summary provides a guide to all the need-to-know information for your exam. It covers all chapters of the book that needs to be studied for your exam. Covers International Marketing, Digital Marketing and Sustainable Business Models.
International Marketing
1. International marketing orientation
Ethnocentric (Domestic)
Polycentric (Multi-Domestic)
Regiocentric or Geocentric (Global)
2. Controllable vs. Uncontrollable environment
Controllable Environments Uncontrollable Domestic- Uncontrollable Foreign-
environment environment
Price Competitive Structure Economic forces
Product Economic climate Competitive forces
Positioning Political/legal forces Cultural forces
Place (Channels of Political/legal forces
distribution) Level of technology
Structure of distribution
Geography and infrastructure
3. Avoid falling in international marketing
international marketers should -> seek out market segments with similar needs
which can be met by 1 product
> standardize elements of the marketing mix that can be standardized
> make necessary cultural adaptations in case of stark cultural differences
4. Self-reference criterion
Unconscious reference to own cultural values, experiences and knowledge as a basis
for decisions
5. Green marketing laws
Marketing decisions that take environment into consideration
- anti-trust laws
- green dot programme
- European Court of Justice
- Green Movement
6. Firms social responsibility
the obligation of a business to contribute to society's long-term well-being. If firm
fails to take care of stakeholders, government intervenes to regulate company
behaviour.
7. Unethical issues in international marketing activities
- Positioning (positioning as high-quality; blackmailing customers)
- Product (can cause harm; health & safety; info of content not clear; unfriendly
packaging)
- Price (higher than competitive price; bribery, gifts; high monopolistic prices)
8. Ethical tests for business and what they do
- Transparency (do I mind others knowing?)
- Effect (who does it hurt/affect?)
- Fairness (would it be considered fair?)
- Check (consequences?)
9. Global competition and connection to international marketing activities
On the trading front, the greatest challenge is posed by the increased exposure of
national economies to the forces of global competition.
10. Package vs. Repackaging => requirements of different markets
- physical attributes" physical characteristics of product
- non-physical features: characteristics of product that are perceptional
- When analysing a product for a second market, adaptation required depends on
the cultural differences in perception between products in the original market
and the new one.
11. Product lifecycle and marketing activities => penetration and skimming, in which
cycle stage
Penetration pricing is used for new products into a market – introductory stage
Price skimming is used during the introductory & growth phase
12. Product use
Core components:
- essential technology
- variations can be added for local differences
- costly to adjust
- changes for safety/mandatory requirements
Marketing components:
- style features incl label, packaging, brand name, price etc
- adjustments are discretionary and mandatory
- Ensure no unacceptable/unintentional symbolic meanings
Market resistance and rate of acceptance of an innovation is determined by its:
1. relative advantage over the old product
2. compatibility with acceptable norms and values
3. complexity associated with product use
4. trialability, degree of economic/social risk
5. observability, the ease with which product benefits can be communicated.
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