Pages: 61

No chapter abstract available.

Pages: 26

This chapter defines marketing in the international context and explains how international marketing differs from domestic or national marketing. There is a discussion of criteria that can be used to identify multinational corporations. The criteria include size, structure, performance, and behavior. The perspectives of ethnocentricity, polycentricity, and egocentricity are compared. The chapter ends with the benefits of international marketing.

Pages: 33

This chapter discusses trade theories and examines the principles of absolute advantage and comparative advantage. Additionally, it examines the validity of trade theories and offers refinements of these theories. There is a discussion of the competitive advantage of nations. Marketing barriers (tariffs, nontariff barriers, and private barriers) are identified. The various levels of economic integration are examined. The chapter ends with the role of the World Trade Organization (WTO) and the rationale for the Generalized System of Preferences (GSP).

Pages: 72

No chapter abstract available.

Pages: 39

The chapter describes both the political and legal environments. The political environment necessitates an examination of the political (parliamentary vs. absolutist) systems as well as the economic systems (communism, socialism, and democracy). Political risks and country risks are identified, and measures to manage these risks are offered. With regard to the legal environment, there are sections that discuss jurisdiction, extraterritoriality, arbitration, and legal forms of organization. The chapter ends with the legal and ethical dimensions of bribery.

Pages: 31

The chapter defines the concept of culture and identifies its relevant characteristics. There is a discussion of how culture affects consumers in terms of consumption habits, thinking processes, and communication processes. It is necessary to contrast high-context and low-context cultures. There is an emphasis on verbal and non-verbal communications. Countries are clustered based on their similarities and differences.

Pages: 55

No chapter abstract available.

Pages: 28

The chapter describes the process of marketing research and explains the complexity of international research. It investigates topics such as types of data (primary and secondary data), data collection methods (observation and questioning), sampling (probability and nonprobability sampling), and measurement scales. The characteristics of marketing information systems are identified. The discussion emphasizes the difficulties associated with cross-cultural research and the necessity for adapting research techniques to international markets.

Pages: 25

This chapter covers the foreign market entry strategies. The indirect entry strategies include exporting, licensing, and management contracts. The direct investment strategies range from joint venture to complete overseas manufacturing facilities, with strategies such as assembly operations, turnkey operations, and acquisition falling somewhere in between. For each strategy, the pros and cons are discussed. The chapter ends with an examination of strategic alliances and free trade zones (FTZs).

Pages: 252

No chapter abstract available.

Pages: 29

This chapter studies both products and services in an international context. It describes the process of new product development as well as product adoption. There is a discussion of the theory of international product life cycle (IPLC). The issue of product standardization versus product adaptation is examined. In addition, packaging may also have to be adapted. When possible, a global or world product should be considered.

Pages: 37

This chapter focuses on intellectual property rights (IPR). To protect intellectual property (IP), the legal strategies include patent, copyright, trademark, and trade secret. Particular attention is given to branding as a strategic resource. The various branding strategies include brandless products, private brands, manufacturers’ brands, multiple brands, local brands, and global brands. The strengths and weaknesses of each branding alternative are critically examined. The managerial implications of brand protection and brand characteristics are elaborated.

Pages: 37

This chapter describes the various channels of distribution that move products internationally. Both the direct and indirect channels are covered, and the varieties of intermediaries are identified. There is a discussion of channel development, channel adaptation, and channel decisions. Selection of channel members must spell out representation agreement and termination. Two particular types of market, black market and gray market, must be considered in terms of legal and marketing implications. Finally, like products, services must also be distributed.

Pages: 25

This chapter recognizes the fact that products and services must be moved physically and internationally to reach final consumers. The various modes of transportation (land, air, and water) must be assessed. Consideration must be given to packing and insurance. For many shippers, containerization is both desirable and necessary. The services of freight forwarders and customs brokers are likely to be indispensable. Since products cannot be moved without paperwork, it is useful to understand the various types of shipping and collection documents. To safeguard and collect payment, it is imperative to prepare such documents as commercial invoice, bill of lading, and air waybill.

Pages: 24

The chapter describes how a product should be promoted. The process of communication is described. The promotion mix includes personal selling, publicity, and sales promotion. Each of these components is discussed separately. The pros and cons of employing local nationals (vs. expatriates) are examined. Measures to deal with negative publicity are covered. Finally, the chapter mentions the various types of sales promotion techniques and how local regulations may affect their utilization.

Pages: 32

One major component of the promotion mix is advertising. This chapter describes the various advertising media (print, broadcast, and electronic media). Attention is given to how these media are utilized in different parts of the world. The chapter closely analyzes the most controversial subject in international advertising – standardized advertising vs. localized advertising. Practical guidelines are offered to resolve the controversy. The chapter ends with a recommendation for a global advertisement.

Pages: 32

The chapter examines international pricing. The examination takes into account such pricing factors as cost, market share, tariffs, inflation, and exchange rate. The legal aspects of dumping and transfer pricing are covered. Price quotations must pay attention to the point of delivery and risk. It is critical to understand Incoterms (e.g., free on board (FOB), Cost and Freight (CFR), cost, insurance, and freight (CIF), delivered duty paid (DDP), etc.). The chapter ends with a review of payment methods (e.g., bill of exchange, letter of credit, etc.).

Pages: 34

The chapter places emphasis on financial strategies. First, it examines the meaning of money as a medium of exchange. The examination includes digital currency and cryptocurrencies. Second, one section is devoted to countertrade as an alternative method of trading. The bulk of the chapter examines the role of foreign exchange in international trade. The effect of currency devaluation and appreciation is covered. There is an evaluation of exchange-rate systems (gold standard and floating rates). Practical guidelines are offered about hedging options used to reduce foreign exchange risk.

Pages: 58

No chapter abstract available.

Pages: 33

Sustainable marketing practices have become a critical consideration for consumers across international markets. This chapter discusses how sustainable marketing has become a strategic tool for global firms. Particular attention is given to the environmental, social, and governance (ESG) framework. The chapter explores how global firms can adapt sustainable marketing practices to not only meet regulatory requirements but also the environmental, social, and economic goals to gain a competitive advantage.

Pages: 23

Digital marketing has emerged as a crucial tool for international marketers seeking to engage with consumers across the globe. This chapter discusses the dynamic realm of digital marketing. It explores how companies can effectively leverage digital channels such as search engines, social media sites, e-commerce platforms, e-mails, and smartphones. Activities such as content marketing, affiliate marketing, and augmented-reality marketing are examined. Special emphasis is on how digital marketing efforts are influenced by cultural nuances and local market dynamics. Content must be tailored to meet the tastes and preferences of international markets.