Strategic International Marketing
Chapter 1 Reason for 'International Marketing'
International marketing is defined as "the process of planning and undertaking transactions across national boundaries that involve..."EXCHANGE"
WTO (World Trade Organization) is an international agency which encourages trade between member nations, administers global trade agreements and resolves disputes when they arise
The predecessor of the World Trade Organization (WTO) was: General Agreement on Tariffs and Trade (GATT)
Forms of international marketing involve:
- joint ventures
The driving forces for international marketing include all of the following: - market needs
A transnational or multinational firm is typically defined as: those that produce goods in more than one country and blend the market specific approach with the standardised production methods
There are five stages of the product life cycle: Introduction, Growths, Maturity, Saturation, Decline
The product trade cycle suggests: that the original exporter will eventually become importers
It is often the case that products which are at maturity stage (of the product life cycle) in Australia will be at what stage in overseas markets? Introduction of Growth
What are the following variables of the marketing mix?
- place and distribution
Based on the explanation of the product trade cycle model, a high technology and expensive consumer product is more likely to be first produced and consumed in a developed country.
The theory of comparative advantage suggests a country can gain from international trade even if it has a disadvantage in all goods.
The restraining forces of international marketing include: differences between various national markets
(e.g. political systems, legal requirements, cultural and societal values,...