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Foreign companies trying to enter the US market should take their time in establishing a presence.
Less money is spent on direct sales than all other forms of marketing combined.
Products become exceptional when a consumer is impressed but they don’t expect to be.
Foreign and domestic companies have found success in emerging markets by positioning themselves as ___________. This can be done in service of businesses, or as stand-alone projects.
Those who create and enforce the appropriate regulatory policy framework are known as:
Since distributors generally purchase product at a substantial discount, you will receive a larger percentage of each retail sales dollar as opposed to marketing your products through a sales representative.
Economic good times present new challenges as well as opportunities for those companies considering expansion globally.
It is usually a much longer process to start a business in developed markets as a result of exorbitant regulation and legislation.
Innovation and creativity make business more competitive through efficiency in operations, which increases productivity and reduces costs, helping you to expand globally to increase revenue and market share.
Emerging growth companies need to demonstrate an understanding of their competitors in their market entry strategy and tactics.
As a product matures, it may facilitate infrastructure growth required to support that technology.
Institutional voids in factor and output markets are shaped by the broader smaller micro context of emerging economies.
BHAGS is something that your team may use to help motivate everyone towards a goal that is just barely reachable.
Level 5 Leadership is a term used to describe a certain type of leader who was seen among many of the companies, who never reached their potential.
Most entrepreneurs know very little about their customers.
Venture capital and private equity firms provide seed funding for start-ups and growth capital for companies looking to expand.
According to Porter, as referenced in the Marketer’s Bible, those companies that have had domestic rivalries in business are usually stronger and more well-equipped to play on the international field.
Taking your company into the global market doesn’t need to be too well-planned, thought-out, or executed.
When expanding internationally, you should allow vendors to select you, as they know the market and know how to do business in the specific countries you’re entering.
Institutional voids in emerging markets are areas of business specialization that are over-crowded and non-deficient.
Which of the following is not one of the three things that affect sales negotiations in different cultures?
Prospective emerging giants that decide to go global need to think systematically about how they should grow their businesses outside their home markets and which capabilities they need to seek out.
Some customers in emerging markets might look for products with global quality but with local features and prices.
To reduce the transaction costs that arise from the differential information between buyers and sellers and to limit potential conflicts of interest, markets need institutions to intermediate between buyers and sellers of goods, services and capital.
Spotting institutional voids is a key first step for anyone interested in managing or investing in emerging markets.
The Ease of Doing Business Index is limited in scope, as it does not account for the economy’s proximity to large markets, the quality of its infrastructure, etc.
A territorial arrangement works best for organizing your sales force when there are geographically dispersed customers and a sales representative is assigned to a specific area.
Emerging markets are characterized by low to medium per capita incomes and have closed economies.
The most important feature of any market is the ease with which buyers and sellers can come together to do business.
Entering into emerging markets without any institutional voids is risky and yields much less success for companies.
Emerging markets don’t face many challenges, as there is little change needed to achieve globalization.
Innovation can be used both to increase the profitability of companies by either internal development as well as through the ______________ process.
Institutional development is rarely shaped by a country’s history, political/social systems, or culture.
Which of the following is not a factor we covered on companies and changes needed to be made when entering an emerging market?
Inefficient judicial systems are the main reason for market failure.
According to Collins, as referenced in The Marketer’s Bible, the concept of clock building only relates to companies in the clock business industry.
Cultural stereotypes should always be kept in mind when expanding internationally, as they are helpful in all situations. There is no downside to believing in stereotypes.
It is not too important for a company to know the common business practices or norms within a country they are looking to enter; the people there will always want you to experience business your way.
There are three things can affect sales negotiations: individual differences, cross-cultural differences, and contextual differences.
There are four P’s in the marketing mix: Product, Place, Poise, and Price.
Poor positioning is best demonstrated by the increase in store brands versus national brands that principal retailers are carrying to increase their sales.
Customers, no matter what country they are from, will always appreciate a memorable buying experience.
Companies that do not take advantage of the opportunities available in the emerging market countries will face an irreparable threat to their existence in the coming years.
Getting the ______ of your sales force right is essential, as each new sales employee adds to your expenses.
Underfunded companies without the appropriate ___________ and operational savvy will not be able to compete and will close.
Regulation and legislation relevant to your technology will affect how you adjust your marketing strategy and _________.
________ is the referred to as the Marketing Mix.
______ happens as countries become intertwined through cross-border capital flows, direct investments, import and export, and evolution and spread of technology.
As the markets in China and India continue to grow, their companies that have successfully operated ______ will play a central role in shaping the products and services to fit the tastes of their own domestics markets.
Which of the following is not a commonly used method of financing to start or expand a company?
Determining business trends and knowing the likelihood of events occurring is of no use unless the entrepreneur has the flexibility to _________.
Companies should have a reseller kit ready before approaching any potential channel partner. This kit should contain:
Which of the following is not considered necessary for a foreign company’s success when entering a new market?
The best way to sell a product is to ensure that the customer can identify a ____ return for their money.
Which of the following is considered one of the most important international management problems?
If you’re new to foreign trade, it would be a good idea to work with an established global distributor rather than setting up your own distribution division.
Futures contract hedging, currency swapping and parallel loans are all common ways that multinational corporations:
Which of the following is not a market segment in an emerging economy?
_________ help market participants resolve disputes.
Multinationals face a series of strategic choices as they confront institutional voids in emerging markets, including which of the three below?
A ____ structure can enable emerging market firms to develop a corporate brand name that signifies quality, trust and transparency.
Enlarging a business and building cash flow or brand is known as:
Third-party certification of claims by suppliers or customers is known as:
Any company seeking to fill a void first needs to recognize that a void exists and that filling it could create _______________.
Multinationals are often stifled when entering into emerging markets due to their lack of local knowledge or capabilities to get around the institutional voids. One way to counter this disadvantage is:
Emerging markets rely on a number of factors for sustainable growth. Which of the following is not one that we covered in the videos?
__________ reform happens in countries with or without constitutional transition.
Industrialization refers to the process of a nation transitioning from:
Effective, precise, and compelling __________ is a cornerstone foundation of business success.
___________ are weak, due to lacking technology and transportation deficiencies.
In some cases, _______ with domestic partner companies can be a boom. In others, it might dilute your brand.
According to Katz, sustainable _________ and a solid __________ will do more to enhance your profitability than your pricing.
A market entry agency provides a foreign company a more expensive way to enter the market and can be an important part of a manufacturers’ success.
More money is spent on __________ than all other forms of marketing combined.
Because ___________ carry costs for companies operating in emerging markets, _________ adds value.
Waiting to enter a market for various reasons can be detrimental how?
Emerging markets are tough to crack; companies are ______________ to get their strategies right the first time.
According to Khannah and Palepu, which of the following is not one of the strategic choices faced by companies when responding to institutional voids?
_________ are areas where growth is great, and opportunity for international business is high.
Which of the following is not one of the main three sources of market failure, according to Khannah and Palepu?