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15 terms

IB Business and Management Marketing 4.7 International Marketing

IB Business and Management Marketing 4.7 International Marketing http://www.ibbusinessandmanagement.com
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International Marketing
Selling products in markets other than the original domestic market
Pan-Global Marketing
Adopting a standardised product across the globe as if the whole world were a single market - selling the same good in the same way everywhere
Global Localisation
Adapting the marketing mix, including differentiated products, to meet national and regional tastes and cultures
Global marketing
Adopting a standardised product across the globe as if the whole world were a single market - selling the same good in the same way everywhere
Business etiquette
The manner, social and cultural context in which business is conducted. International etiquette differs from one country to another so it is important for marketers to be aware of the different protocols that exist
Exporting
The practice of selling domestically produced goods and /or services to overseas buyers to gain access to international markets
Direct Investment
A business setting up a production and/or distribution facilities in foreign countries
E-Commerce
Trading via the internet
Joint Ventures
When two or more companies invest in a shared business project, pooling their resources to form a SEPARATE BUSINESS. The companies retain their separate legal identities but share the risks and returns from the joint venture
Strategic Alliances
When two or more businesses pool their human, capital and financial resources in a SHARED PROJECT. They DO NOT form a new business with a separate legal identity
Franchising
A business allowing others to trade under its name in return for a fee and a share of the profits
Mergers
Two businesses (occasionally more) agree to integrate as a single organisation.
Acquisitions
This is when another business buys out another by purchasing a majority stake in the target company
Takeovers
This is when another business buys out another by purchasing a majority stake in the target company
Economies of Scale
Reductions in a firm's unit (average) costs of production that result in an increase in the scale of operations; i.e. by producing more