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Tapping into Global Markets - Coggle Diagram
Tapping into Global Markets
Internationalization Process
No regular export activities
Export via independent agents
Establishment of 1 or more sales subsidiaries
Establishment of production facilities abroad
Deciding Markets to Enter
How many Markets to Enter
Waterfall Approach
Sprinkler Approach
Born Global
Evaluating Potential Markets
Psychic Proximity
Deciding How to Enter Market
Indirect Export
Domestic-Based Export Merchants
Domestic-Based Export Agents
Cooperative Organizations
Export-Management Companies
Direct Export
Domestic-Based Export Department or Division
Overseas Sales Branch or Subsidairy
Traveling Export Sales Representatives
Foreign-Based Distributors or Agents
Licensing
Contract Manufacturing
Franchising
Joint Ventures
Direct Investment
Acquisition
Deciding on Market Program
Global Similarities & Differences
Individualism vs. Collectivism
High vs. Low Power Distance
Masculine vs. Feminine
Weak vs. Strong Uncertainty Avoidance
Marketing Adaptation
Product Features
Labeling
Colors
Materials
Sales Promotion
Prices
Advertising Media
Brand Name
Packaging
Advertising Execution
Advertising Themes
Global Product Strategies
Product Standardization
Product Adaption Strategies
Straight Extension
Product Adaption
Regional Version
Country Version
City Version
Retailer Versions
Product Invention
Backward Invention
Forward Invention
Brand Element Adaption
Global Communication Strategies
Communication Adaptation
Dual Adaptation
Global Pricing Strategies
Price Escalation
Set a uniform price everywhere.
Set a market-basedprice in each country.
Set a cost-basedprice in each country.
Transfer Prices
Dumping
Arm's-Length Price
Gray Markets
Counterfeit Products
Gloabl Distribution Stragies
Channel Entry
Seller's International Marketing Headquarters
Channels Between Nations
Channels within Foreign Nations
Channel Differences