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Level 38

Scope & Challenge of International Marketing

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International Marketing
The performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit
Controllable Elements
Elements that can be altered in the long run and, usually, in the short run to adjust to changing market conditions, consumer tastes, or corporate objectives.
Foreign Environment Uncontrollable Elements
Political/Legal Forces, Economic Forces, Competitive Forces, Level of technology, Structure of distribution, Geography and infrastructure, Cultural forces
Domestic Environment Uncontrollables
These include home country elements that can have a direct effect on the success of a foreign venture: political and legal forces, economic climate, and competition.
Self -Reference Criterion
The SRC is an unconscious reference to one's own cultural values, experiences, and knowledge as a basis for decisions
Global Awareness
Involves knowledge of world market potentials and global, economic, social, and political trends