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| made of govt. institutions, political parties, that people use to wield power |
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| reflects importance of the government and legal system |
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| countries independent ability to conduct business in country. |
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| danger that political and military upheaval will change rules overnight |
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| when high, country makes it difficult for foreign direct investment. |
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| the rise in this is a new political risk |
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| primarily in lower income countries, aspirations and reality, in high income countries is due with long standing conflict. |
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| War, Corruption Crime labor costs |
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| This leads to black market growth, and cross border shopping |
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| attempt to limit tax liability by shifting location of income |
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| govt action to dispossess a company or investment, compensation:promt,effective,adequate. |
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| when no compensation is provided |
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| govt takes control of some or all the enterprises in an entire industry |
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| limits economic of foreign firms. strngle hold on business (limit profit dividends, high taxation) |
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| rules and principles that nation states consider binding among themselves |
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| International Court of Justice (ICJ), judicial arm of the United Nations |
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| Napoleonic Code of 1804, Roman legal system basis for the Continental European nations |
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| united states law is rooted this way |
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| Disputes decided on previous judicial decisions, companies INC by states |
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| reflects structural concepts and principles of roman empire, companies formed between 2 or more parties |
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| Based on Sharia, comprehensive code governing Muslim conduct in all areas of life |
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| courts authority to rule on issues arising outside a nations border |
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| Employees of foreign companies should understand the extent of jurisdiction in host countries |
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| gives inventor exclusive right to make, use, and sell an invention for a specified times |
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| Distinctive mark, motto, device or emblem used to compete with opposing products |
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| ownership of a written, recorded, performed, or filmed creative work. |
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| unauthorized copying and production of a product |
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| product name differs slightly from a well know brand |
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| unauthorized publication or reproduction of copyrighted work |
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| real products but sold in unauthorized way |
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| Foreign Corrupt Practice Act |
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| requires publicly held companies to institute internal accounting, makes it a crime to bribe, prohibits payments to 3rd parties |
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| Omnibus Trade and Competitiveness Act |
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| allows for grease payments to cut red tape, such as getting shipments through customs |
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| organizations processes for creating, storing exchanging, using, and managing information |
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| Management Information Systems |
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| provide managers and other decision makers with a continuois flow of information about company information |
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| intranet, Electronic Data Interchange, Electronic Point of sale |
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| private network, allows authorized users to share info electronically |
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| Electronic Data Interchange |
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| Allows business units to: submit orders, issue invoices, transaction formats are universal |
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| Efficient Consumer Response |
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| joint initiative by members of the supply change to work toward improving and optimizing aspects of the supply chain for customer benefit |
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| Customer Relationship Management |
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| values two way communication between company & customer. |
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| Customer Relationship management |
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| every point of contact with a consumer is an opportunity to collect data, makes employees more productive |
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| integral part of CRM, helps tune product assortment, enhance ability of management response to changing business conditions |
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| company executes based abroad who have contact with distributors, consumers, and govt officials, friends acquaintances |
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| Direct Sensory Perception |
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| Using the senses to find out firsthand what is going on in a country |
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| Global Marketing Research |
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| project specific, systematic gathering of data in the search scanning made on global basis |
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| customer needs already being served by one of more companies, info maybe readily available |
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| undiscovered market, demand would be there is product was there, no competition |
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| Market will emerge as macro environmental trends continue |
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| when a persons values and beliefs intrude on foreign culture |
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| increases managements receptiveness to findings |
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| selected subset of a population that is representative of the entire population |
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| convenient samples(friends family ETC) |
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| tabulate the data using statistical techniques ANOVA, regression, cluster analysis |
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| Segmentation, Targeting, Positioning |
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| splitting total market into segments of more homogeneous subgroups |
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| selection of segments that the company should market its product to that have significant protential response |
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| focus on the segments that can be reaches most effectively, efficiently, profitability |
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| exactly how the company should present product to the target market so its perception is most advantageous relative to competition |
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| Conventional Segmentation wisdom |
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| Assumes heterogeneity with countries. focuses on macro level cultural differences, relies on clustering national markets |
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| Unconventional Segmentation Wisdom |
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| Assumes emergence of segments that transcend national boundaries, recognizies differences within countries |
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| Global Market Segmentaion |
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| demographics, psychographics, benefits sought |
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| Income, population, age, gener, education, occupation |
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| is a valuable segmentation variable, |
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| the world GNP is generated by triad, but only 13% of world population is in the triad |
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| young people between 12-19, group of teens randomly chosen from different parts of the world shore same tastes |
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| affluent consumers who are well traveled and have the money to spend on prestigous products with exclusivity |
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| focusing on needs and wants of one gender, do not miss opportunities to serve the other |
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| Psychographic Segmentaion |
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| grouping people according to attitudes values lifestyles |
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| consumers who reside withing geographic clusters such as zip codes or neighborhoods also share demographic and lifestyles |
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| Law of Disproptionality/Paretos law |
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| 80% of a companys revenues are accounted for by 20% of the customers |
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| focuses on value equation: value = benefits/price. based on understanding the problem a porduct solves |
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| Assessing Market potential |
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| competition, current size of the segment and anticipated growth, compatibility of company |
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| developing global strategy, some companies make efforts to be a player in diff countries and market segments |
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| markets and segments can be given more attention and markets positions fortified |
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| locating a brand in consumers minds over and against competitors in terms of attributes and benefits that the brand does and does not offer |
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| Global consumer culture positioning |
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| identifies the brand as a symbol of a particular culture or segment |
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| Foreign consumer positioning |
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| associates the brands users use occasions or product origins with a foreign country |
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| Local consumer positioning |
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| identifies with local cultural meanings, consumed by local people |
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