Slide 1Learning ObjectivesForeign Acquisitions of U.S. CompaniesSelected U.S. Companies and Their International SalesInternational Marketing DefinedThe International Marketing TaskThe Self-Reference Criterion and EthnocentrismStages of International Marketing InvolvementForeign Policy’s Global Top 20The Scope and Challenge of International Marketing1 - 2Learning 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 awareness1 - 6Foreign Acquisitions of U.S. Companies1 - 7Selected U.S. Companies and Their International Sales1 - 8International Marketing DefineddInternational 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 - 9The International Marketing Task•Insert Exhibit 1.31 - 11The 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 ethnocentrismSRC 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 - 15Stages of International Marketing Involvement•No direct foreign marketing•Infrequent foreign marketing•Regular foreign marketing•International marketing•Global marketing1 - 18Foreign Policy’s Global Top 20•Insert Exhibit