Term
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Definition
| Marketing a standardized product using a uniform communications strategy. |
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Term
| Product Extension-Communication Adaptation |
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Definition
| Maintaining the same product and using customized advertising campaigns. |
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Term
| Product Adaptation-Communications Extension |
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Definition
| Firm adapts their product but markets it using a standardized communications strategy. |
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Term
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Definition
| Adaptation of both a company's product and communications strategy. used when there are differences in both the cultural and physical environment across countries. |
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Term
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Definition
| instead of simply adapting existing products or services to local market conditions, identify global market opportunities and create new products. |
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Term
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Definition
| Stifles initiative and experimentation at the local subsidiary level. |
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Term
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Definition
| Part of the appeal of imported brands is their foreignness. By adapting too much to the local market conditions, an import runs the risk of losing its cachet and simply becoming a me-too brand, barely differentiatied from the local brands. |
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Term
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Definition
| To what extent does the new product offer more perceived value to potential adopters than existing alternatives |
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Term
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Definition
| is the product consistent with existing values and attitudes of the individuals in the social system? Are there any switching costs that people might incur if they decide to adopt the innovation? |
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Term
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Definition
| Is the product easy to understand? Easy to use? |
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Term
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Definition
| Are the prospects able to try out the product on a limited basis? |
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Term
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Definition
| How easy is it for possible adopters to observe the results or benefits of the innovation? Can these benefits easily be communicated? |
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Term
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Definition
| Introduce the new product first in the company's home market. Next, the innovation is launched in other advanced markets. in the final phase, the multinational firm markets the product in less advanced countries. |
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Term
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Definition
| Simultaneous world entry. |
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Term
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Definition
| Assets tied to a brand name including brand-name awareness, perceived quality, and any other associations invoked by the brand name in the customer's mind. |
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Term
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Definition
| Brand with consistent identity across the world. Same product information, same core benefits and values, same positioning. |
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Term
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Definition
| Can vary between geneeric products packaged very simply and sold at bottom prices or premium store brands that deliver quality sometimes superior to national brands. |
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Term
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Definition
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Term
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Definition
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Term
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Definition
| Pricing model that adds international costs and a markup to domestic manufacturing costs. |
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Term
| Dynamic Incremental pricing |
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Definition
| Pricing model that factors variable costs generated by the exporting efforts and a portion of incremental costs including manufacturing costs, shipping expenses, insurance, and overseas promotional costs. |
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Term
| Currency Gain/Loss Pass Through |
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Definition
| How much an exchange rate gain (loss) should be passed through to our customers and in what currency should a company quote its prices. |
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Term
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Definition
| Prices charged for sales transactions between related entities of the same company, involving trade of raw materials, components, finished goods, and services. |
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Term
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Definition
| The company charges the price that any buyer outside the MNC would pay a if the transaction had occured between two unrelated companies. |
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Term
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Definition
| Conflicts between country affiliates are resolved through the noegotiation of transfer prices. |
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Term
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Definition
| Pricing model that adds a markup to the cost of goods. |
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Term
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Definition
| Coordination of the different communications vehicles to convey one and the same idea to prospective customers with a unified voice. |
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Term
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Definition
| A system of active promotional management that strategically coordinates global communications in all of its component parts both horizontally (country level) and vertically (promotion tools). |
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Term
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Definition
| Ability to gather and compare prices and product attribute information for a given product from the different markets where the product is sold. |
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Term
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Definition
| The internet cannibalized existing distribution channels. |
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Term
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Definition
| The internet expands the overall business by offering a more attractive value proposition to prospective buyers. |
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