International Marketing Essay examples

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INTERNATIONAL MARKETING 92% of the world’s consumers live outside the U.S. Thus, international marketing is very important. When selling to foreign markets, one must realize that there are major differences between other countries & the U.S. Aside from political and legal differences, there are economic, technological, social (family, religion, education, health ...) & cultural differences. Each 1 billion in trade deficit yields a loss of 25,000 jobs. [See text for how international trade is measured and protectionism vs. free trade.]      Gray Goods - Goods imported from unauthorized dealer; problem = no manufacturer’s warranty.      Dumping = Sale of export goods at less than…show more content…
     2     Adapt Only The Promotion - e.g., in most of the world, bicycles are promoted as transportation; in U.S. as leisure.      3     Adapt Only The Product - e.g., Canadians prefer a more bitter beer; Barbie looks Asian in Japan.      4     Adapt Promotion & Product - e.g., American cereals in Asia = snack food; therefore, need different flavors (e.g., tofu).      5     Backward Invention - Simplify product & use less technology. This makes the product more affordable & usable in certain foreign markets. Some Ways To Operate In Foreign Markets      1     Exporting - A company sells what it produces to foreign markets via export merchants (e.g., export trading companies) or export agents (e.g., export management companies) or a firm’s own sales branches. [Risk of tariff & devaluation.]      2     Direct Investment & Ownership - Investment in production and or distribution facilities can occur either through a wholly-owned foreign subsidiary or a joint venture with a foreign company. [Risk of nationalization.]           Joint Ventures - domestic & foreign firms become partners.

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