SMU MKTG 3348 - The Scope and Challenge of International Marketing (9 pages)

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The Scope and Challenge of International Marketing



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The Scope and Challenge of International Marketing

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Lecture Notes


Pages:
9
School:
Southern Methodist University
Course:
Mktg 3348 - International Marketing

Unformatted text preview:

The Scope and Challenge of International Marketing Learning Objectives The changing face of U S business The scope of the international marketing task The importance of the self reference criterion SRC in international marketing The progression of becoming a global marketer The increasing importance of global awareness 1 2 Foreign Acquisitions of U S Companies 1 6 Selected U S Companies and Their International Sales 1 7 International Marketing Defined d International marketing is the performance of business activities designed to plan price promote and direct the flow of a company s goods and services to consumers or users in more than one nation for a profit 1 8 The International Marketing Task Insert Exhibit 1 3 1 9 The Self Reference Criterion and Ethnocentrism The key to successful international marketing is adaptation to the environmental differences from one market to another Primary obstacles to success in international marketing SRC Associated ethnocentrism SRC is an unconscious reference to one s own cultural values experiences and knowledge as a basis for decisions Ethnocentrism is the notion that one s own culture or company knows best how to do things 1 11 Stages of International Marketing Involvement No direct foreign marketing Infrequent foreign marketing Regular foreign marketing International marketing Global marketing 1 15 Foreign Policy s Global Top 20 Insert Exhibit 1 4 1 18



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