ADAPTATION STRATEGIES Once a decision for a market entry mode has been made‚ a firm must decide how much‚ if any‚ to adapt its marketing mix—product‚ promotion‚ price‚ and distribution—to a foreign market. Warren J. Keegan (1995) distinguished five adaptation strategies of product and communication to a foreign market (see Table 1). These strategies are discussed briefly below. Straight Extension In straight extension the same product is marketed to all countries (a "world" product)‚ except for
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2000) Different levels of analysis can provide a framework for analyze and evaluate the IHRM practice‚ resource allocation or leadership style in making response to the internationalization process. For the global level analysis‚ it is based on the geocentric approach which is perceived as a worldwide stance which the best policies and the most qualified individuals to staff the operations.(Dowling and Schuler‚ 1990) Because of the increased complexity and operation scope with global operations‚ good
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Case Study-1 Course: International Business (MGT 372) Section: 5‚ 6 Case: Charles Martin in Uganda Faculty: Ms. Samira Rahman (Smi) Submitted by: Group 10 |No. |ID |NAME |SECTION | |1 |072 349 030 |Nusrat Amin |6 | |2 |073 522 030
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managers with geocentric tendencies. Answer: FALSE Difficulty: Easy Skill: Concept Objective: 4-1 AACSB: Dynamics of the global economy; Multicultural and diversity understanding 2) An ethnocentric orientation positively impacts the ability of managers to manage business projects and new business practices abroad. Answer: FALSE Difficulty: Easy Skill: Concept Objective: 4-1 AACSB: Dynamics of the global economy; Multicultural and diversity understanding 3) Ethnocentric orientation
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Global Marketing – International Marketing 1. Introduction Steve Carter defines the term of marketing as “the process of building lasting relationships through planning‚ executing and controlling the conception‚ pricing‚ promotion and distribution of ideas‚ goods and services to create mutual exchange that satisfy individual and organisational needs and objectives.” To start with a generally known fact‚ each firm uses its own type of marketing strategy. Therefore‚ companies in different countries
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Introduction The rapid pace of Globalization has led to a change in the global economy during the past several decades; it is believe that factors such as trade liberalisation‚ access to cheaper labour and resources‚ similarity of consumer demand around the world‚ and advances in technology and communication has widened the market of consumption‚ investment as well as production on a global scale. These globalization driven factors created new challenges and global competition for businesses around
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stake. It could be differences in language‚ lifestyles‚ mindsets‚ customs or religion. Cross-cultural risk is aggravated by ethnocentric orientation‚ which is when we use our own culture as the standard. Polycentric orientation denotes a host-country mindset in which the manager acquires a strong like-mindedness with the country he or she is doing business with. Geocentric is what all managers should strive for. It is a global mind-set in which managers are able to understand a business without regard
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19/10/2012 SESSION 1 THE GLOBALIZATION IMPERATIVE Today’s Agenda (Chapter 1) • 1. Why do we need to understand Global Marketing • 2. Globalization of Markets: Convergence and Divergence • 3. International trade vs International business • 4. Evolution of Global Marketing 1 19/10/2012 Overview • Increasingly global environment for today’s marketing manager • However‚ not a new phenomenon – The Silk Road – Trade Routes from Ancient Rome • The focus should be not the nature but
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Table of Contents Table of Contents 1 Acknowledgement 2 Introduction 3 Questions: 1. What are some of the competitive forces that have made the business environment for Apple more complex in recent years? 4 2. Which aspects of the South Korean market have significant implications for the success or failure of the iPhone in the market and why? 6 3. Besides market entry strategy and marketing mix‚ what other aspects of the planning
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1. Strategic IHRM frameworks and their application. The description and use IHRM‚ with a SIHRM framework to identify IHRM opportunities and challenges for international organisations operating simultaneously in countries experiencing different economic environments. When organisations go global‚ International HRM (IHRM) strategies are critical for success. IHR should participate in strategic decision making at the highest level. Strategic human resource management (SHRM) integrates an organisation’s
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