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The Greater China

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Both the People's Republic of China (PRC) and the Republic of China (ROC) or Taiwan.

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Increase in direct trade

answer

Primarily instrumental in decreasing the historical tension between People's Republic or China (PRC) and the Republic of China (ROC).

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People's Republic of China

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The most important single national market besides the US and Japan.

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Admission to the WTO

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Event occurred in 2000 that had a profound effect on China's economy.

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Two important steps for China

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Improving human rights and reforming the legal system.

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Blue Express

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IBM entered into a venture with the Chinese Railways Ministry that allowed IBM to set up a national network of IBM service centers in railway stations that has enabled IBM to ship computer parts via the railroad around the country within 24 hours.

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Xenophobia

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A cultural hurdle in the path of China becoming a vast market in the long run.

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Biggest growth threat for China

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Economic volatility that accompanies fast growth.

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One country, two systems

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The tenet that China follows to ensure that Hong Kong's exuberant capitalism is retained despite the communist leanings of mainland China.

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Transportation, trade, and communications

answer

Represents the "three direct links" leading to the establishment of One China.

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Inept political apparatus

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One of the primary reasons behind the persistence of economic stagnation in Japan in the 1990s.

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Villain of Japan crisis

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The long entrenched Liberal Democratic political party.

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One-party sickness

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In the 1970s, Frank Gibney had called Japan "The Fragile Superpower", which was confirmed with the crisis of the 1990s. In his new appraisal, Gibney writes that Japan has become the victim of this.

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The complex Japanese language

answer

The greatest hindrance to the development of software innovations appropriate for world markets in Japan.

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The Cultural Causation theory

answer

Immediately after World War II, a shattered Japanese nation arrived at a consensus goal for national recovery. That consensual goal provided the incentive for its spectacular progress, decade after decade. Then during the late 1980s, the Japanese people stepped back and looked around at their manifest achievement. It was easy to conclude they had reached their coveted goal. So the question for them became, "all right, what's next?" This theory tries to explain the Japanese crisis of the 1990s.

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South Korea

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One of the nations referred to as the Four Asian Tigers.

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Japan

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Asian country that was the first to move from a status of developing country to a newly industrialized country.

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Four Dragons

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The most rapidly growing economies in the Asia Pacific region during the 1980s and 1990s, Hong Kong, South Korea, Singapore, and Taiwan.

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South Korea

answer

Presently at the center of trade links with north China and the Asian republics of the former Soviet Union.

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Bottom-of-the-pyramid

answer

C. K. Prahalad and associates introduced the concept of a global market, not necessarily defined by national borders but rather by the pockets of poverty across countries, and consisting of 4 billion people across the globe with annual incomes of less than $1,200. These consumer, concentrated in the LDC's and LLDC's are __ markets.

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Second misconception

answer

Consumers in the bottom-of-the-pyramid markets lack both money and technology.

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Bangladesh

answer

Grameen Bank is a private commercial enterprise in this country.

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ASEAN

answer

The primary multinational trade group in Asia.

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ASEAN+3

answer

One result of the Asian financial crisis of 1997 to 1998 was the creation of this.

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APEC

answer

Organization that provides a formal structure for the major governments of the Asian-Pacific Rim, including the United States and Canada, to discuss their mutual interests in open trade and economic collaboration.

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Beijing-Tianjin

answer

Regions that is considered as the information technology (IT) corridor in north China.

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The Pearl River Delta

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Contains Hong Kong, Macau, Guangzhou, and Shenzhen and it is considered as the world's manufacturing base for the IT industry.

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Lack of common language

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The biggest problems for television and radio advertisers in China.

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Japan

answer

Liaoning province of Northeast China has the closest economic ties with this country.

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Jilin

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Province of China that shares the closest economic ties with South Korea.

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Heilongjiang

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Province of China that shares the closest economic ties with Russia.

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China

answer

Japan's most important trading partner.

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Dalian

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At the southern tip of the Liaodong Peninsula in China is the focus of bi-national relationships and has one of the world's largest and most modern port facilities.

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Zhongguancun

answer

Known as China's Silicon Valley.

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Tianjin

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China's third largest industrial city after Shanghai and Beijing. China's fastest growing city.

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Shanghai's GDP

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Is derived from its financial services industries.

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Suzhou

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Has replaced Nanjing, to become Jiangsu province's number one economy and foreign trade center.

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The Greater Pearl River area

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This region in China includes three cities of over 5 million inhabitants (Hong Kong, Guangzhou, and Shenzhen); five cities with more than 1 million inhabitants (Zhuhai, Huizhou, Foshan, Zhongshan, and Dongguan); and a number of cities that each contain approximately half a million inhabitants, such as Macau.

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Shenzhen

answer

A boomtown bordering Hong Kong and a fishing village just 20 years ago has replaced the provincial capital Guangzhou to lead the local economy. Designated as China's first Special Economic Zone.

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Forthrightness

answer

The stereotype of businesspeople in the Northeast area of China.

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Bureaucratic sloth

answer

Most closely associated with negotiators from the Beijing area.

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Shrewdness

answer

The negotiators from the Shanghai area are famous for this.

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The Pearl River Delta

answer

Negotiators from this region in China have been the closest to foreign influences, which has yielded their special forms of entrepreneurship and spontaneity. They are excellent traders and particularly interested in making short-term gains.

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Taiwan

answer

Part of China that is considered, by other Chinese, to be the most conservative both in terms of behavior and language.

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Marketing opportunities in Greater China

answer

There are extreme differences in economic well-being, cultural, and political structures.

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Globalization versus localization

answer

With respect to global marketing management, the argument for market segmentation in the 1980s was framed as this.

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Standardization versus adaptation

answer

In the 1970s, international marketers framed the approach toward market segmentation as this.

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Localization strategy

answer

KFC sells Youtiao, a kind of Chinese doughnut, at its outlets in China. The Youtiao is considered an important part of a Chinese breakfast menu.

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International corporate planning

answer

It is essentially long-term in nature. It incorporates generalized goals for the enterprise as a whole.

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Strategic planning

answer

It is conducted at the highest levels of management and deals with products, capital, research, and the long-and short-term goals of the company.

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Tactical planning

answer

Refers to the plans that are made at the local level.

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Corporate planning

answer

Integrated generalized goals for the enterprise as a whole.

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First phase of international planning process

answer

Matching company and country needs.

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Developing the marketing plan

answer

Stage of the international planning process where a marketing manager conducts a situation analysis and makes decisions involving objectives and goals, budgets, and action programs.

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Goal of phase 2 of international planning process

answer

Decide on a marketing mix according to the market segments.

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Question from phase 2 of IMP

answer

Are there identifiable market segments that allow for common marketing mix tactics across countries?

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The implementation and control phase

answer

Most likely to occur next in the international planning process, once a "go" decision in Phase 3 has been taken.

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The mode of entry

answer

Subject that is explored after developing information in the international planning process.

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Last step in the international planning process

answer

Developing the marketing plan.

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Exporting

answer

Mode of entry that a company is most likely to use if it would "just like to get its feet wet" in the international marketing arena.

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Direct Foreign investment

answer

Mode of foreign market entry that requires the most amount of equity and therefore, creates the greatest risk.

question

Indirect exporting

answer

Requires no equity investment and thus has a low risk, low rate of return, and little control.

question

Internet Marketing

answer

The simplest and the cheapest method to enter a foreign market.

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Corporate jets

answer

Products where it is advisable for a company to have a direct sales force in the country where it intends to sell its products.

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Contractual agreements

answer

Long-term, nonequity associations between a company and another in a foreign market. Serve as a means of transfer of knowledge rather than equity.

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Licensing

answer

Forms of business relationships that lets a company grant patent rights, trademark rights, and the rights to use technological processes to another company in a foreign country.

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Franchising

answer

The franchisee provides market knowledge, capital, and personal involvement in management. Foreign laws and regulations are friendly.

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Strategic international alliance

answer

A business relationship established by two or more companies to cooperate out of mutual need and to share risk in achieving a common objective without forming a separate legal entity.

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Dating

answer

The first relationship activity in building a strategic alliance where senior executives leverage their personal networks.

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Imaging

answer

Primary relationship activity in building strategic alliances involves seeing the reality in possibilities of an alliance, creating a shared vision from being together, and involving trusted senior managers.

question

Initiating

answer

Primary relationship activity in building strategic alliances involves bringing key executives into action and creating trust through face-to-face time.

question

Interfacing

answer

Primary relationship activity in building strategic alliances involves facilitating the creation of personal relationships at many levels, traveling to partner facilities and engaging in technical conversations, and blending social and business time.

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Creating intimacy

answer

Relationship skill that is necessary during the imaging activity stage of building a strategic alliance.

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Joint venture

answer

Two or more participating companies joining forces to create a separate legal entity to facilitate doing business in the international arena.

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Consortium

answer

A partnership of two or more participating companies that have joined forces to create a separate legal entity to facilitate doing business in a country where none of the participants are currently active.

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Global product division structure

answer

Companies that adopt this, are generally experiencing rapid growth and have broad, diverse product lines.

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Matrix structure

answer

Organizational structures that is the most extensive of those usually adopted by companies.

question

Quality

answer

The most important criterion for consumers while purchasing products.

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Dimensions of quality

answer

Market-perceived quality and performance quality.

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Product Homologation

answer

The changes mandated by local product and service standards.

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Green marketing

answer

Term used to identify concern with the environmental consequences of a variety of marketing activities.

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Europe

answer

Country that is at the forefront of the "green movement".

question

Components

answer

A physical attribute of a product that is essential for its primary function.

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Innovation

answer

From a sociological viewpoint, any idea perceived as new by a group of people.

question

Diffusion

answer

The process by which innovation spreads.

question

Time

answer

According the Everett Rogers, this is the element that differentiates diffusion from other types of communications research.

question

Compatible product

answer

If it complies with the accepted norms, values, and culture of the local market.

question

Complexity

answer

A company focusing its effort on making its new innovation more user-friendly. The rate of diffusion can be postulated as negatively related to this.

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Observability

answer

Refers to the ease with which its benefits can be communicated to the customers.

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Conversion-ability

answer

The success achieve by firms when they take their inventions to market.

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Packaging

answer

If a company is altering the price of its product to compete with the local companies in the international market is focusing on this component of the product.

question

Support services

answer

According to the product component model, installation, repair and maintenance, deliveries and warranties are all part of this component of the product.

question

Heterogeneity

answer

Because a service is individually produced and is virtually unique, the service is this.

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Perishable

answer

A characteristic of a service is this because it cannot be stored and must be consumer simultaneously with its creation.

question

International tourism

answer

The largest services export of the US, raking behind only capital goods and industrial supplies when all exports are counted.

question

How services enter a foreign market

answer

Licensing, franchising, or direct investment

question

Protectionism

answer

When a foreign market requires that services (such as banking or insurance) originate within the country itself and not from outside sources.

question

Global brand

answer

A name, term, sign, symbol, design, or combination used worldwide to identify goods or services of one seller and to differentiate them from those of competitors.

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Country of origin effect

answer

The possibility that the place of manufacture may affect productor brand image.

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Ethnocentrism

answer

In Russia, products are divided into two categories- "ours" and "imported".

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Standardized goods

answer

Good where their uses are the same across markets.

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Industrial goods market

answer

Goods that are more standardized than consumer goods. The demand for these goods is stable and does not fluctuate.

question

Business services

answer

Along with industrial goods, this is the most rapidly growing sector of US international trade today.

question

Demand in industrial markets

answer

Demand that is more volatile than the demand for consumer goods.

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Derived demand

answer

Demand that is dependent on another source.

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The degree of industrialization

answer

The most significant factor affecting the international market for industrial goods and services.

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The traditional society

answer

The first stage of Rostow's five-stage model of economic development.

question

Vietnam

answer

Country that would be characterized as being in Stage 2 of Rostow's five-stage model of economic growth.

question

Drive to maturity stage

answer

An industrialized economy's focus is more on low-cost manufacturing of a variety of consumer and some industrial products; they buy from all categories of industrial products and services.

question

The age of mass consumption

answer

Stage of Rostow's five-stage model of economic growth where highly industrialized countries like Japan and Germany fit into.

question

Privatization of state-owned enterprises

answer

This will expand demand, particularly for industrial goods and business services, in Latin America.

question

Perception of quality

answer

Depends solely on the consumer.

question

Total quality management

answer

Involves customers in the product development process.

question

Global Harmonization Task Force

answer

An international effort that is attempting to synchronize standards for several international industrial sectors.

question

The united states

answer

Country that is not officially on the metric system.

question

ISO 9000 certification

answer

Concerns the registration and certification of a manufacturer's quality system. A certification of the quality control system that a company has in place. Generally voluntary.

question

Marketplace requirements

answer

Driving a strong level of interest in the ISO 9000 certification.

question

American Customer Satisfaction Index (ACSI)

answer

Measures customers' satisfaction and perceptions of quality of a representative sample of America's goods and services.

question

Customer training

answer

Rapidly becoming a major after-sales service when selling technical products in countries that demand the latest technology.

question

Intellectual property issues

answer

In knowledge-based services such as consulting, engineering, education, and information technology. This is a key driver of success and failure.

question

Trade shows

answer

Provide the facilities for a manufacturer to exhibit and demonstrate products to potential users and to view competitors' products.

question

Distribution process

answer

Includes the buying and selling negotiations.

question

Traditional distribution structure

answer

An importer controls a fixed supply of goods and the marketing system develops around the philosophy of selling a limited supply of goods at high prices to a small number of affluent customers.

question

Import-oriented

answer

Distribution structure that is also known as a traditional distribution structure. It traditionally performs most of the marketing functions.

question

The Japanese Distribution structure

answer

Has long been considered the most effective nontariff barrier to the Japanese market.

question

Small retailers

answer

Considered to be the foundation of the Japanese distribution system.

question

Loyalty

answer

Characterizes the business philosophy of the Japanese distribution channels.

question

The Japanese market

answer

The Japanese distribution structure supports long-term dealer-supplier relationships

question

Ministry of International Trade and Industry

answer

Under the Large-Scale Retail Store Law, all proposals for new "large" stores are first judged by this.

question

Internal internet-based system

answer

This is considered to be on of Walmart's strengths.

question

China

answer

Country with the largest number of retailers

question

Speed of economic development

answer

In the context of distribution patterns, the rate of change in retailing around the world appears to be directly related to this.

question

Direct marketing

answer

The approach of choice in markets with insufficient or underdeveloped distribution systems.

question

Merchant middlemen

answer

Are frequently criticized for not representing the best interests of a manufacturer. They take title to manufacturers' goods and assume the trading risks.

question

Final consumer

answer

The distribution channel process includes all activities, beginning with the manufacturer and ending with this.

question

Home country middlemen

answer

Also known as domestic middlemen.

question

Export management company

answer

It calls for a minimum investment from the parent firm to get into international markets.

question

Goal of export trading company act

answer

To remove antitrust disincentives to export activities.

question

Complementary marketing

answer

Arrangement that is undertaken when a firm wants to keep its seasonal distribution channels functioning throughout the year.

question

Piggybacking

answer

Complementary marketing is commonly known as this.

question

A Manufacturer's export agent

answer

An individual agent middleman or an agent middleman firm providing a selling service for manufacturers that covers only one or two markets.

question

Foreign sales corporation

answer

A domestic middleman set up in a foreign country or U.S. possession that can obtain a corporate tax exemption on a portion of the earnings generated by the sale or lease of export property.

question

Continuity

answer

One of the six Cs of distribution channel strategy.

question

Cash-flow patterns

answer

A critical element associated with using a particular type of middleman.

question

Direct sales force

answer

Mode of distribution in the foreign market will a company have to make maximum financial investment.

question

Productivity

answer

An area that should be on a checklist of criteria for evaluating middlemen servicing a market.

question

Way to select a middleman

answer

To personally talk to ultimate consumers to find whom they consider to be the best distributors.

question

Secondary wholesaling

answer

In the context of controlling middlemen, parallel importing is also know as this.

question

Spain

answer

In the context of cultural reactions when engaging in e-commerce, the color red is associated with socialism in this country.

question

Physical distribution system

answer

It includes transportation mode, inventory quantities, and packing.

International Marketing-Midterm 3-Chap 11-15 – Flashcards

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