Market Focus: Domestic versus International
Protectionism versus open markets?
Who's Standards to adopt, home country or host country?
Should company play by host rules or try to change them?
Unions, Environmentalists
GWB: Free Trade area
EU
to impose tariffs to protect steel market
Some risks include:
- changing borders
- unstable governments
- foreign exchange issues (devaluations etc?)
- technology pirating
- adaption costs for product and communication strategy
Steps to consider:
- determine the international market environment (economic, political,
legal and cultural); international trade system
- few versus many countries, percentage of sales
- determine which market to enter, risk versus rate of return
- how to enter the market? exporting, licensing, joint ventures and
direct investment
- adaption of 4 Ps?: Text Books!
- organizational structure for international business?
Economist: March 2nd, 2002 :The Short Arm of the Law
Discussion Topic: Discuss the complications of removing
bribery from international transactions. What are the outcomes for
economies?
International marketing is not always about going overseas?
Las Vegas?
General International Links:
Babel Fish
US Depts. of Commerce International Trade
Administration, Export-Import Bank of the
United States, The Bureau of Export
Administration
Links to Trade Alliances:
WTO / GATT, NAFTA, EU for the US, European Union Online
Links for Bribery Discussion:
OECD: Organisation for Economic Co-Operation
and Development, Foreign Corrupt
Practices Act, Transparency
International, Shell:
Management Primers
Services
All products include a service component.
- Intangible (associate w/ tangible representation)
- Inseperable (influece providers)
- Perishable (influence demand)
- Variable (standardization issues)
General Marketing Issues:
- External Marketing
- Internal Marketing
- Interactive Marketing
3 additional Ps
- People
- Physical Evidence
- Processes
Focus:
- Search Qualities: Goods (clothing, jewelery)
- Experience Qualities
- Credence Qualities: Services (medical, auto repair, legal services)
Relevant Knowledge@Wharton Articles
Prescription
Drug
Coverage for
Seniors Faces
Uncertain
Future
A
Live Baby or Your Money Back
Poachers
Are Out to Plunder
Your Intellectual
Property –
Can You Do Anything?
Ethical
Standards for Global Corporations?
Ethical
Inspiration for Marketing
Managers
A
Search for Google’s
Success Turns Up
Two
Words: Trust and
Technology
Link to discussion
board
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