IM at Universität Göttingen

Flashcards and summaries for IM at the Universität Göttingen

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4.5 /5

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4.8 /5

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Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

What push factors are there for entering new markets?

Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

What pull factors are there for entering new markets?

Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

Whta risks are involved when entering new markets?

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Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

What barriers of international trade are there?

Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

What major shifts in international trade are there?

Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

What is the definition of culture?

Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

What are the characteristics of culture?

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Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

Between which product classes can we distinguish?

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When is a product a local product?

Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

When is a product an international product?

Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

When is a product a global product?

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Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

Which basic factors determine the boundaries within which market prices should be set?

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Exemplary flashcards for IM at the Universität Göttingen on StudySmarter:

IM

What push factors are there for entering new markets?

– home market is saturated
– overproduction
– customers expect global presence
– reducing dependency on one market
– foreign competitors could enter home market

IM

What pull factors are there for entering new markets?

–potential demand in foreign countries
–worldwide markets and “global village”
–removal of trade barriers

–scale effects in production and marketing

–Tax benefits
–Technology competence
–Managerial usage

IM

Whta risks are involved when entering new markets?

–limited understanding of foreign customer preferences
–limited understanding of business customs in foreign country
–unexpected costs, unknown regulations
–lack of managers with international experience
–economic, legal and political instability
–consumer resistance
–incumbents fight back

IM

What barriers of international trade are there?

  • Tariffs
  • Non tariff barriers 
    • quotas
    • voluntary export restraints
    • boycott 
    • monetary barriers
    • standards


IM

What major shifts in international trade are there?

  • BRIC countries ( Brazil , Russia , India and China) are gaining significance --> Economic activity will shift from West to East
  • At the same time, countries such as the US, Germany, Japan and France still are among the leading merchandise traders --> Ceta and TTIP, for example , are attempts to remain relevant

IM

What is the definition of culture?

Culture is everything that people have think and do as members of their society

IM

What are the characteristics of culture?

–the members of a group share a set of ideas and values
–these are transmitted by symbols from one generation to another
–culture is an outcome of past actions of a group or its members
–culture is learned
–culture shapes behavior and our perception of the world
–it is reinforced by components such as language, behavior and ‘nation’

IM

Between which product classes can we distinguish?

– local products
– international products
– global products

IM

When is a product a local product?

– local products: available in a portion of a national market

IM

When is a product an international product?

– international products: offered in multinational, regional markets

IM

When is a product a global product?

global products: offered in global markets, global products are guided by the same strategic principles, are
similarly positioned, but have a marketing mix that varies from
country to country

IM

Which basic factors determine the boundaries within which market prices should be set?

–product cost: the price should not be lower than the costs
(however, pricing below cost can be part of a strategy to achieve a leading market position which will be profitable in the long term)
– competition: competitive prices for comparable products create a price ceiling, or upper boundary
– demand and value: the price can never be higher than the demand for the product/service, and demand is a function of perceived product value

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