Essentials of International Marketing

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Overview

Unlike other International Marketing texts, Essentials of International Marketing includes only the most important information that can be easily covered in one semester. The book covers all the key topics for an International Marketing course, but in a concise, no-nonsense manner that meets the needs of undergraduates..In addition to including all the basic topics, this affordable text also offers two unique chapters on the metric system and on countertrade that provide essential information for successful international marketers. Essentials of International Marketing has been extensively class-tested and is well crafted to serve as a learning tool and a ready reference for students. Each chapter includes an opening case vignette, learning objectives, plentiful exhibits and tables, a summary, key terms, and discussion questions.
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Product Details

  • ISBN-13: 9780765624758
  • Publisher: Taylor & Francis
  • Publication date: 8/15/2010
  • Edition description: New Edition
  • Pages: 432
  • Product dimensions: 7.40 (w) x 9.10 (h) x 0.90 (d)

Table of Contents

Preface and Acknowledgments

1 The International Marketing Phenomenon 3

Chapter Objectives 4

International Marketing in Perspective 4

The Importance of International Marketing 5

The Challenges of International Marketing 6

What Is International Marketing? 7

International Business Defined 7

International Trade Defined 8

International Economics Defined 8

International Cross-Cultural Management Defined 9

International Marketing Defined 9

International and Domestic Marketing Compared 10

Terms Used to Describe International Marketing 11

Interrelationship of Disciplines 11

Why Study International Marketing? 12

Growing Awareness of Opportunities 12

Increasing Demand 13

Government Encouragement 13

Unique Conditions 14

Putting International Marketing in Perspective 15

Foreign Uncontrollable Environment 16

The Foreign Marketing Environment and Risk 17

International Orientations 18

Chapter Summary 20

Key Terms 20

Review Questions 21

Notes 21

2 International Measures and Conversions 23

Chapter Objectives 24

Measurement Systems 24

The Metric System 25

Metric-to-Metric Conversions 26

Metric-to-American and American-to-Metric Conversions 31

Temperature Conversions 35

Chapter Summary 37

Key Terms 38

Review Questions 38

3 The Scope of International Marketing 39

Chapter Objectives 40

Organizing Trading Nations 41

Regions 41

Traditional Trading Preferences 42

Preference of Political Systems 43

Geographic Advantages 43

Immigration and Colonial Effects 44

North-South versus East-West 44

National Wealth---GNI 44

Population 45

Making Decisions 47

Current World Trading Conditions 47

Trends in Exports 48

Chapter Summary 51

Key Terms 51

Review Questions 51

Notes 52

4 The Importance of International Marketing 53

Chapter Objectives 54

Trade Position of the United States 54

Why Nations Trade 58

Theories of International Trade 58

Burenstam Linder's Theory 58

Heckscher-Ohlin Theory 58

International Product Life Cycle Theory 60

Natural Resources Theory 60

Solidarity Theory 60

Technology Theory 61

Theory of Comparative Advantage 61

Trade Creation Theory 66

Balance of Payments 66

Components 66

Impact on Marketing Strategy 67

Chapter Summary 70

Key Terms 71

Review Questions 71

Notes 72

5 International Market Entry Methods 73

Chapter Objectives 74

Market Entry Motivation 74

Management Orientation 76

The Market Entry Decision 77

Market Entry Alternatives 80

Trade Restrictions 83

Tariff Barriers 83

Nontariff Barriers 84

Chapter Summary 85

Key Terms 86

Review Questions 86

Notes 86

6 Researching Foreign Markets 88

Chapter Objectives 89

The Research Process 89

Foreign Market Entry Analysis 91

Screening Process 92

Detailed Analysis 93

Research Problems 94

Secondary Data Collection Problems 95

Primary Data Collection Problems 96

Ongoing Research 99

Types of Research Design 99

Research Data Collection Methods 99

International Market Entry Process 101

Chapter Summary 103

Key Terms 104

Review Questions 104

Notes 104

7 Culture and Buyer Behavior 105

Chapter Objectives 106

Culture 107

Culture Defined 107

Importance of Culture 107

Cultural Knowledge 108

Factual Knowledge 108

Cognitive Knowledge 115

Self-Reference Criterion 116

Cultural Strategy 117

Culturally Congruent Strategy 117

Culturally Distinct Strategy 118

Culturally Disparate Strategy 118

Strategy Implementation 118

Cultural Change 119

Chapter Summary 119

Key Terms 120

Review Questions 120

Notes 121

8 Governmental and Political Risks 122

Chapter Objectives 124

Governmental Sovereignty 124

Political Climate 124

Political Risks 126

Lessening Political Risk 130

Economic Cooperation among Nations 132

Existing Market Agreements among Nations 134

The European Union 135

The Legal Environment 140

The Jurisdictional Clause 142

Settling Disputes 142

Chapter Summary 144

Key Terms 145

Review Questions 145

Notes 145

9 Financial Risks and Currency Concerns 147

Chapter Objectives 148

The Value of a Country's Currency 148

Exchange Rate Conversions 150

Currency Conversions 152

Exchange Rate Implications 154

Protecting Assets from Price Inflation or Devaluation 158

Exchange Controls 162

Chapter Summary 163

Key Terms 164

Review Questions 164

Notes 164

10 Organizing for International Marketing 165

Chapter Objectives 166

Marketing's Place in the Organizational Hierarchy 166

Organizational Arrangements 167

International Organizational Structures 168

Built-in Export Department (No Export Department) 169

Export Department 170

International Division 171

International Headquarters Company 173

World Company (Transnational Company) 174

Implications of Changing Organizational Structure 175

Chapter Summary 176

Key Terms 177

Review Questions 177

Note 177

11 International Distribution Strategy: Marketing Channels 179

Chapter Objectives 180

International Channels 180

International Channel Defined 181

Importance of the Channel Decision 181

Channel Alternatives 183

Channel Desirability 184

Establishing the Channel 186

Factors Influencing the Channel Decision 187

Intermediary Institutions 188

The Channel Selection Decision 194

Blocked Channels 196

International Retailing 198

Chapter Summary 202

Key Terms 202

Review Questions 203

Notes 203

12 International Distribution Strategy: The Role of Logistics in Managing the Supply Chain 205

Chapter Objectives 206

Background 206

Outsourcing 207

Logistics and Supply Chains 207

The Mechanism of Exporting and Importing 208

The Risks of Exporting 209

Managing Export Risk 210

Logistics and Market Entry Method 213

The Export Process 213

Solicit Sales 214

Negotiation 216

Prepare Order 218

Ship 225

Conclusion 226

Paperwork Reviewed 226

Chapter Summary 227

Key Terms 228

Review Questions 228

Acknowledgments 228

Notes 229

13 International Product Strategy 230

Chapter Objectives 232

The Product Reviewed 232

International Product Strategy 233

The Degree of Modification 235

The Modification Decision 236

Planning Product Strategy 241

Brand Strategy 242

Package Strategy 244

Physical Characteristics Strategy 245

Services Strategy 247

Managing Product Strategy 247

Legal Product Strategy Issues 248

Brand Pirating 248

Counterfeit Products 249

Parallel Imports 250

Chapter Summary 251

Key Terms 252

Review Questions 252

Notes 253

14 International Price Strategy 254

Chapter Objectives 256

Price Reviewed 256

Price Escalation 258

Noncumulative Turnover Tax 260

Cumulative Turnover Tax 260

Responses to Price Escalation 261

Intracompany Transfer Pricing 262

Shipping Terms and Price Quotes 265

International Payment Methods 270

Cash in Advance 270

Letter of Credit 270

Bill of Exchange 272

Open Account 273

Payment Sources 274

Edge Act Banks 274

Overseas Development Banks 274

Multinational Banks 274

Eurodollars 276

Chapter Summary 276

Key Terms 277

Review Questions 278

Notes 278

15 International Promotion Strategy 279

Chapter Objectives 281

Promotion Reviewed 281

International Promotion Strategy 282

Advertising Strategy 283

Direct Marketing Strategy 293

Personal Selling Strategy 293

Public Relations Strategy 295

Sales Promotion Strategy 295

Chapter Summary 295

Key Terms 296

Review Questions 296

Notes 297

16 Countertrade 298

Chapter Objectives 299

Countertrade in Perspective 299

Reasons for Using Countertrade 300

Advantages of Countertrade 301

Perils of Countertrade 302

Forms of Countertrade 303

Bilateral Barter Countertrade 303

Triangular Barter Countertrade 304

Buyback Countertrade 305

Counterpurchase Countertrade 305

Precompensation Countertrade 306

Blocked Currency Countertrade 306

Facilitating Countertrade 307

Countertrade Department 308

Barter House 308

Switch House 308

Countertrade Assistance 309

Managing Countertrade 310

Countertrade Strategy 310

Risks in Countertrade 312

Chapter Summary 314

Key Terms 315

Review Questions 315

Notes 315

17 International Marketing Strategy 316

Chapter Objectives 318

Understanding the Marketing Management Process 318

Plan 318

Assemble Resources 319

Implement 319

Administer 319

Control 319

Feedback 320

Purpose 320

The International Marketing Management Process 320

International Planning Process 320

International Assembling of Resources Process 325

International Implementing Process 326

International Administering Process 328

International Controlling Process 329

Developing an International Marketing Strategy 331

Initial Market Entry 331

Market Entry Expansion 333

Export Strategy 335

Ethics in International Marketing Strategy 341

Egoism 343

Justice 343

Relativism 344

Rights 344

Utilitarianism 344

Virtue 344

Unethical Decision Making 345

Free Trade Zones 346

Chapter Summary 347

Key Terms 348

Review Questions 348

Notes 349

Glossary 351

Company Index 369

Subject Index 373

About the Author 395

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