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MKTG 25010 Study Guide - Quiz Guide: International Trade, Global Marketing, SinopecExam


Department
Marketing
Course Code
MKTG 25010
Professor
Lawrence J.Marks
Study Guide
Quiz

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91
Chapter 7: Understanding and Reaching Global
Consumers and Markets
I. The Nature and Size of Organizational Markets
a) Why International Trade?
i) To get access to materials, products, and services which
are___________________ domestically.
ii) To get access to __________________ which want OUR materials,
products and/or services.
iii) Because of _____________________ ____________________
(1) Some countries have unique national or human resources that give
them a competitive edge, internationally
iv) Market _______________________ at Home
v) Potential Demand
vi) Customer Expectations
b) What does it mean to US?
1. Balance of Trade -- The difference between the monetary value of a nation’s
exports and imports.
not
available
markets
comparative
Advantage
saturation
the
difference
between
themonetary
valueofanation's
exports imports

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92
2. US Balance of Trade (US Census Bureau Foreign Trade Statistics
(http://www.census.gov/foreign-trade/balance/c0004.html#2018)
i) Impact of the DHL (Germany) decision for Ohio
ii) INVITING FIRMS TO COME TO NORHEAST OHIO (Desire to HAVE
foreign investment locally)
iii) AND to OHIO
https://www.jobsohio.com/site/assets/files/1864/why_ohio_brochure_2018.pdf
II. Dynamics of World Trade The Competitive Advantage of Nations
a) Porter’s “Diamond” -- WHY do some industries and firms become world
leaders and others lose ground or fail?

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93
i. ____________________ Conditions
1. Natural Resources
2. Education and skill levels
3. Wage Rates
e) Examples:
4. AND, the question for OUR FIRM Can we _________________ in this
country?
ii. ______________________________ Conditions
1. Size of Market
2. Sophistication of Consumers
3. Media Exposure of Products
Example
4. AND, the question for OUR FIRM Is there _________________ for our
product?
iii. Related and Supporting Industries
1. Existence of ________________________________
a) Examples
2. AND, the question for OUR FIRM Can we get ____________ in this
country?
iv. Company Strategy, Structure, and Rivalry
1. Number of Companies in an Industry
2. Intensity of Competition
3. Public or Private Ownership
factorconditions
Kuwait
specializes
in
the
productionof
oil
Hollywoodis
thefilmproduction staras ithasa
concentrationof
skilled
laborexcellent
aim
schools
produce
demand
German
consumers
have
demandedahigh
level
of
engineering
intheir
cars
so
MercedesBmw porsche
na
allowed
Germany
todominate
the
world
in
high
performance
carsthey
do
not
do
wellinthe
cheap
mas
produced
car
market
supplierclusters
national
strengths
are
associated
withclusters of
industries
Silicon
Valery
inthe
U.sprovidesan
advantage
incormany
there
aresimilar
clusters
around
chemicals
support
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