a) Global marketing
Global Marketing involves marketing activities by firms that do each of the following:
- Standardize their marketing programs: Allow marketing efforts to seamlessly operate across country borders. Standardization ensures products, promotions, price and channel structure cooperate together to increase opportunity and effectively meet the needs of global customers.
- Coordinate across markets: Businesses eliminate cost inefficiencies and reduce duplicate business efforts of their national/regional divisions
- Practice Global Integration: This involves playing a role in many different world markets that are relevant to the business. Integrating firm operations means some markets use the resources of others to achieve success and vice-versa. It also involves balancing responses to competitive attacks in all areas.
b) Geocentric orientation
This orientation favours neither home country nor foreign countries where the company operates. It is also called a global approach the main idea of which is to target “global consumers” who have similar tastes. The main idea of this orientation is to borrow from every country what is best. The limitation is that it fully depends on constant global market research, which requires a lot of investment and time. The European Silicon Structures is a pure example of geocentric international marketing orientation: the company is incorporated in Luxembourg, its headquarter was established in Munich, research facilities are in England, and France has its factory; the company went even further by assigning its eight directors from seven different countries.
A government-imposed trade restriction that limits the number, or in certain cases the value, of goods and services that can be imported or exported during a particular time period. Quotas are used in international trade to help regulate the volume of trade between countries. They are sometimes imposed on specific goods and services to reduce imports, thereby increasing domestic production. In theory, this helps protect domestic production by restricting foreign competition.
d) Marking in packaging
e) Letter of credit
Q. 3) Define international marketing. Difference between international vs domestic marketing. – 10 marks
Q. 4) What do you mean by export pricing? Explain different factors affecting export pricing. – 10 marks
Q. 5) Explain in detail the different channels of distribution available at international marketing – 10 marks.
Q.6) Short notes: (Any 2) – 10 marks
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