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Lecture Note 1
Lecture Note 1
International Marketing
General introduction
system.
n International trade and international marketing ->
create peace
=> International marketing is affected by and affects
all the above things.
Internationalization of U.S
business
n changing competitive structures
n shifts in demand characteristics in markets
throughout the world
-> How?
n be unavoidably envolved with foreign
customers, competitors, and suppliers
n face competition on all fronts
Internationalization of U.S
business
n imported from foreign companies
n foreign companies in US
owners.
n US companies enter foreign markets
↑influenced
by
Macro factors
decide w want
what
KPs]
Macro
The international marketing
task
n Marketing Decision Factors
n Marketing Decision Factors:
n The controllable elements: can be altered in the long
run and in the short run to adjust to changing market
conditions, consumer tastes, or corporate objectives.
n With the uncontrollable elements: the marketer must
actively evaluate and may adapt their marketing mix.
The international marketing
task
n the marketer cannot control or influence the
uncontrollable elements -> adjust or adapt
n What makes marketing interesting?
n managing the controllable elements of marketing
decisions (product, price, promotion, distribution, and
research) under the uncontrollable elements of the
marketplace (competition, politics, laws, consumer
behavior, level of technology, and so forth)-> achieve
marketing objectives
Developing global awareness
n To be globally aware:
n tolerance of cultural differences:
n understanding cultural differences
n accepting and working with others whose behaviors
may be different from yours.
n knowledge of culture, history, economic, social
and political trends of global markets
Environmental adaptation
n interpret effectively the influence and impact
of each of the uncontrollable environmental
elements on the marketing plan for each
foreign tageted market.
The self-reference criterion
(SRC) and ethnocentrism
n SRC is an unconscious reference to one’s own
cultural values, experiences, and knowledge as a
basis for decisions.
n Ethnocentrism: the notion that people in one’s
own company, culture, or country know best how
to do things.
The self-reference criterion
(SRC) and ethnocentrism
n should isolates the SRC influences
n maintain vigilance regarding ethnocentrism