Term
| Three dimensions that determine the course of globalization in an industry or a company* |
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Definition
| Production, Regulatory, Organizational |
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Term
| Four types of market entry strategies |
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Definition
| Exporting, Contractual Agreements, Strategic International Alliances, Foreign Direct Investment |
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Term
| Types of contractual agreements |
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Definition
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Term
| Types of strategic international alliances |
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Definition
| International joint ventures & consortia |
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Term
| Three types of brand images |
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Definition
| Functional, social, sensory |
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Term
| Benefits of Standardization for Firm |
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Definition
• Cost savings
• Economies of scale in production and marketing
• Minimizes product/advertising development costs
• Utilization and transfer of know-how
• Experience transfer, idea transfer
• Uniform image of quality and service
• Global customers, international communication
• Easier co-ordination and control
• Uniform standards |
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Term
| Barriers to Standardization Faced by Firm |
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Definition
• Differences in customer characteristics and behavior
• Cultural values, perceptions
• Government regulations and restrictions
• Product/advertising, tariffs
• Difference in marketing infrastructure
• Media, distribution
• Local competition
• Internal
• Local management, existing network of operations |
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