1、International Marketing 一、名詞解釋:1International marketing： International marketing is defined as the performance of business activities designed to plan,price, promote, and direct the flow of a companys goods and services to consumers or users in more than one nation for a profit.2strategic internatio

2、nal alliance (SIA) A strategic international alliance (SIA) is a business relationship established by two or more companies to cooperate out of mutual need and to share risk in achieving a common objective.3Common law, The basis for common law is tradition, past practices, and legal precedents set b

3、y the courts through interpretations of statutes, legal legislation, and past rulingsCommon law seeks “interpretation through the past decisions of higher courts which interpret the same statutes or apply established and customary principles of law to a similar set of facts” Civil or code law,Code l

4、aw is based on an all-inclusive system of written rules (codes) of law Islamic law Islamic law defines a complete system that prescribes specific patterns of social and economic behavior for all individuals.4Global brand A global brand is defined as the worldwide use of a name, term, sign, symbol (v

5、isual and/or auditory), design, or combination thereof intended to identify goods or services of one seller and to differentiate them from those of competitors5Politically sensitive productsPerceived to have an effect on the environment, exchange rates, national and economic security, and the welfar

6、e of people 。Are publicly visible or subject to public debate 。 6. Sales promotions Sales promotions are marketing activities that stimulate consumer purchases and improve retailer or middlemen effectiveness and cooperation。7.Cultureculture refers to “the human-made part of human environmentthe sum

7、total of knowledge, beliefs, art, morals, laws, customs, and any other capabilities and habits acquired by humans as members of society”8. SubornationInvolves giving large sums of moneyfrequently not properly accounted fordesigned to entice an official to commit an illegal act on behalf of the one o

8、ffering the bribe; involves breaking the lawLubrication Involves a relatively small sum of cash, a gift, or a service given to a low-ranking official in a country where such offerings are not prohibited by law9. ConfiscationConfiscation, the most severe political risk, is the seizing of a companys a

9、ssets without paymentExpropriationExpropriation is where the government seizes an investment, but some reimbursement for the assets is made; often the expropriated investment is nationalized to become a government run entityDomestication Domestication occurs when the government mandates local owners

10、hip and greater national involvement in a foreign companys management10.Distribution process，The distribution process includes the physical handling and distribution of goods, the passage of ownership (title), and the buying and selling negotiations between producers and middlemen and between middle

11、men and customersDistribution structure Each country market has a distribution structure through which goods pass from producer to use，Within this structure are a variety of middlemen whose customary functions, activities, and services reflect existing competition, market characteristics, tradition,

12、 and economic development 11. Country-of-origin effect (COE) Country-of-origin effect (COE) can be defined as any influence that the country of manufacture, assembly, or design has on a consumers positive or negative perception of a product。12. Price escalation Price escalation refers to the added c

13、osts incurred as a result of exporting products from one country to another13.M-time/ P-time M-time, or monochronic time, typifies most North Americans, Swiss, Germans, and Scandinavians P-time, or polychronic time, is more dominant in high-context cultures。P-time is characterized by multi-tasking a

14、nd by “a great involvement with people”。14.Quality Quality can be defined on two dimensions: market-perceived quality andperformance quality。15. Integrated marketing communications (IMC)Integrated marketing communications (IMC) comprises: advertising、sales promotions 、personal selling 、direct sellin

15、g, and 、public relations二、翻譯：1) SRC is an unconscious reference to ones own cultural values, experiences, and knowledge as a basis for decisions. ( self-reference criterion )自我參照標(biāo)準(zhǔn)是指人們習(xí)慣于用自己的價(jià)值觀、經(jīng)歷、知識(shí)來(lái)作為評(píng)判一件事情的標(biāo)準(zhǔn)的無(wú)意識(shí)行為2) Ethnocentrism refers to the notion that ones own culture or company knows best

16、how to do things. 民族優(yōu)越感是一種相信自身種族或團(tuán)體優(yōu)于其他團(tuán)體的行為3) P17 To be globally aware is to have tolerant of cultural differences, and knowledgeable of culture, history, world market potential, and global economic, social and political trends.樹(shù)立全球意識(shí)就要包容不同的文化差異，對(duì)世界各地的文化、歷史、市場(chǎng)潛力，全球經(jīng)濟(jì)、政治傾向都要有深刻的了解4) P71 We must not

17、make value judgments as to whether or not cultural behavior is good or bad, better or worse. There is no culture right or wrong, just difference. 我們絕不能以某種文化行為的好壞、優(yōu)劣作為價(jià)值判斷標(biāo)準(zhǔn)，文化沒(méi)有對(duì)錯(cuò)之說(shuō)，只存在差異。5) P6E The rapid growth of the World Trade Organization and regional free trade areas, e.g., NAFTA and the Europ

18、ean Union; General acceptance of the free market system among developing countries in Latin America, Asia, and Eastern Europe; Impact of the Internet and other global media on the dissolution of national borders, and Managing global environmental resources.世界貿(mào)易組織和區(qū)域自由貿(mào)易區(qū)的快速發(fā)展，例如北美自由貿(mào)易協(xié)定、歐盟，在發(fā)展中國(guó)家、拉丁

19、美洲、亞洲和中東普被遍接受的自由市場(chǎng)制度，在互聯(lián)網(wǎng)和其它全球性的媒介的幫助下，逐漸瓦解了國(guó)家保護(hù)壁壘，管理起了全球環(huán)境資源。6) P123E American cultural is low-context, individualistic, low power distance, and obviously close to English. Bribery is less common and Americans are monochronic time oriented, linguistically direct, foreground-focused, and they achiev

20、e efficiency through competition. Therefore the United States is categorized hereafter in the as an information-oriented culture. 美國(guó)文化是一種低調(diào)、崇尚個(gè)人主義、權(quán)力等級(jí)較小的文化，很明顯的接近英國(guó)文化。美國(guó)人很少收受賄賂，日常時(shí)間安排很緊湊，交談喜歡直言直語(yǔ)，直奔主題，他們通過(guò)競(jìng)爭(zhēng)來(lái)提高效率。因此，美國(guó)可以說(shuō)是一個(gè)信息化的社會(huì)。7) P123E Japanese culture is high-context, collectivistic, high powe

21、r distance, far from English, bribery is more common, polychronic (in part), linguistically indirect, background-focused. Japanese culture achieves efficiency through reduction of transaction costs, and therefore is properly categorized as a relationship-oriented culture.日本文化是一種高調(diào)的、尊崇集體主義、權(quán)利等級(jí)森嚴(yán)的文化，

22、與英國(guó)文化截然不同，收受賄賂也比較常見(jiàn)，局部還有小團(tuán)體，他們說(shuō)話比較含蓄，看重人的背景。日本人通過(guò)減少交易成本來(lái)提高效率，所以，日本可以說(shuō)是一個(gè)關(guān)系導(dǎo)向的社會(huì)。8) Social institutions including family, religion, school, the media, government, and corporations all affect culture.社會(huì)機(jī)構(gòu)，包括家庭、宗教、學(xué)校、新聞媒體、政府、公司等都會(huì)影響到社會(huì)文化。9) P130E A change in government, whether by election or coup, doe

23、s not always mean a change in the level of political risk. Conversely, radical changes in policies toward foreign business can occur in the most stable governments as well. 政府的變動(dòng)，無(wú)論是通過(guò)選舉還是政變，不代表每次都有一定水平的政治風(fēng)險(xiǎn)。反過(guò)來(lái)，對(duì)外國(guó)公司來(lái)說(shuō)，在最穩(wěn)定的政權(quán)下，也有可能發(fā)生徹底的政策變動(dòng)。10) P135E International firms face a variety of economic

24、risks: such as exchange controls, local-content laws, import restrictions, tax controls, price controls and labor problems.跨國(guó)公司面臨著一系列的經(jīng)濟(jì)風(fēng)險(xiǎn)，例如，外匯管制、當(dāng)?shù)胤伞⑦M(jìn)口限制、稅收控制，價(jià)格限制和勞務(wù)問(wèn)題等。11) P135E Restraints on business activity may be imposed under the banner of national security to protect an infant industry, t

25、o conserve scarce foreign exchange, to raise revenue, or to retaliate against unfair trade practices, among a score of other real or imagined reasons.為了保護(hù)某種新興工業(yè)，國(guó)家可能會(huì)對(duì)相應(yīng)的商業(yè)活動(dòng)加以約束，用以保存稀缺的外匯、增加收入或者抵制不正當(dāng)競(jìng)爭(zhēng)，或者為了其它存在或不存在的原因。12) P164E Existing internet law is vague or does not completely cover such issues

26、 as the protection of domain names, taxes, jurisdiction in cross-border transactions, and contractual issues. The European Union, the U.S. and many other countries are drafting legislation to address the myriad legal questions not clearly addressed by current law 現(xiàn)有的互聯(lián)網(wǎng)法律比較模糊或者沒(méi)有完全涵蓋如對(duì)域名、稅收、跨境交易的管轄權(quán)

27、、合同問(wèn)題的的保護(hù)。歐盟、美國(guó)和其它許多國(guó)家正在起草一部有關(guān)現(xiàn)行法律沒(méi)有明確界定的許多法律問(wèn)題的新法律。13) P161E In Austria, premium offers, free gifts, or coupons are considered as cash discounts and are prohibited. Premium offers in Finland are allowed as long as the word free is not used. French law permits sales only twice a year, in January and

28、 August. 在奧地利，商家溢價(jià)銷售、免費(fèi)禮品、或者提供優(yōu)惠券都被視為現(xiàn)金折扣，是明令禁止的行為。在芬蘭，在不打折扣時(shí)，溢價(jià)銷售是可以的。法國(guó)法律規(guī)定，一年中只能在一月和八月做兩次促銷。14) P147E Under code law, the legal system is generally divided into three separate codes: Commercial, civil code, and criminal.標(biāo)準(zhǔn)法律中，法律制度分為以下三個(gè)部分：商業(yè)法、民法典和刑法。15) P295E Advertising on television is strictly

29、 controlled in many countries, e.g., in Germany, for example, commercials must be spaced at least 20 minutes apart and total ad time may not exceed 12 minutes per hour. Commercial stations in the United Kingdom are limited to 7 minutes per hour 電視廣告在許多國(guó)家被嚴(yán)格控制，例如，在德國(guó)，相鄰兩個(gè)廣告之間至少間隔20分鐘，在每小時(shí)內(nèi)廣告時(shí)間不能超過(guò)12分

30、鐘，而在英國(guó)，商業(yè)電視臺(tái)的廣告被限定在每小時(shí)七分鐘內(nèi)。16) P333E The companys force is on the front line of a marketing organization. The role of marketers in both domestic and foreign markets is rapidly changing, along with the composition of international managerial and sales forces. Such forces have many unique requirements

31、 that are being filled by expatriates, locals, third-country nationals, or a combination of the three. 公司的職能體現(xiàn)在第一線的營(yíng)銷組織中，營(yíng)銷人員在國(guó)內(nèi)和國(guó)外的角色都隨著公司國(guó)際管理和營(yíng)銷能力的構(gòu)成在迅速改變著。這種職能的許多需求被外籍人士、當(dāng)?shù)厝恕⒌谌龂?guó)國(guó)民、或聯(lián)合第三方滿足了。17) M-time, or monochronic time, typifies most North Americans, Swiss, Germans, and Scandinavians.Most low-

32、context cultures operate on M-time concentrating on one thing at a time. P-time, or polychronic time, is more dominant in high-context cultures.P-time is characterized by multi-tasking and by “a great involvement with people” .北美、瑞士、德國(guó)、斯堪的納維亞都是典型的單向記時(shí)制的國(guó)家。大部分低調(diào)的國(guó)家都奉行單向記時(shí)制，他們做事情都是一件一件的完成。在高調(diào)的國(guó)家中，P-ti

33、me則占主流地位，這些人喜歡讓很多人同時(shí)進(jìn)行多個(gè)任務(wù)。18) P24 Three different strategic orientations are found among managers of international marketing operations. Just as important are difficulties are associated international marketing as ancillary to the domestic operations. A second kind of company sees international mar

34、keting as a crucial aspect of sales revenue generation, but each market is treated as a separate entity. Finally, a global orientation views the globe as the marketplace and market segments are no longer based solely on national borders-common consumer characteristics and behaviors come into play as

35、 key segmentation variable applied across countries. 國(guó)際市場(chǎng)營(yíng)銷經(jīng)理們共有三種不同的戰(zhàn)略方征，它們對(duì)國(guó)際市場(chǎng)營(yíng)銷遭遇困難的補(bǔ)助和對(duì)國(guó)內(nèi)市場(chǎng)的幫助同等重要。另一類企業(yè)視國(guó)際市場(chǎng)營(yíng)銷為整個(gè)銷售鏈的關(guān)鍵一環(huán)，但兩個(gè)市場(chǎng)是完全分開(kāi)的。總之，全球定位視角要把世界看成一個(gè)大市場(chǎng)，細(xì)分市場(chǎng)依據(jù)不再僅僅基于一個(gè)國(guó)家的共同消費(fèi)特征，各個(gè)國(guó)家的消費(fèi)者行為才能作為細(xì)分市場(chǎng)的關(guān)鍵區(qū)分點(diǎn)。19) All countries have laws regulating marketing activities in promotion, product developm

36、ent, labeling, pricing, and distribution channels. In Austria, premium offers, free gifts, or coupons are considered as cash discounts and are prohibited. Premium offers in Finland are allowed as long as the word free is not used. French law permits sales only twice a year, in January and August.所有國(guó)

37、家在促銷、產(chǎn)品進(jìn)步、標(biāo)簽、價(jià)格和銷售渠道都有法律，用以規(guī)范市場(chǎng)行為。在奧地利，溢價(jià)銷售，免費(fèi)禮品、或者提供優(yōu)惠券都被視為現(xiàn)金折扣，是明令禁止的行為。在芬蘭，在不打折扣時(shí)，溢價(jià)銷售是可以的。法國(guó)法律規(guī)定，一年中只能在一月和八月做兩次促銷。20) The choice of entry strategy depends on market characteristics (such as potential sales, strategic importance, cultural differences, and country restrictions) and company capabil

38、ities and characteristics, including the degree of near-market knowledge, marketing involvement, and commitment that management is prepared to make.進(jìn)入戰(zhàn)略的選擇要依據(jù)市場(chǎng)特點(diǎn)（例如銷售潛力、戰(zhàn)略重要性、文化差異、國(guó)家限制）另外，公司的實(shí)力、特點(diǎn)包括對(duì)市場(chǎng)的了解程度、營(yíng)銷參與度、和對(duì)管理準(zhǔn)備的評(píng)估。21) Of all the elements of the marketing mix, decisions involving advertisin

39、g are those most often affected by cultural differences among country markets. Consumers respond in terms of their culture, its style, feelings, value systems, attitudes, beliefs, and perceptions. Advertisings function is to interpret the qualities of products and services in terms of consumer needs

40、, wants, desires, and aspirations, the emotional appeals, symbols, and persuasive approaches.與廣告相關(guān)的市場(chǎng)營(yíng)銷組合、決定要素通常受不同市場(chǎng)中文化差異的影響，消費(fèi)者根據(jù)自己的文化，對(duì)廣告的風(fēng)格、感覺(jué)、價(jià)值取向、態(tài)度、信仰、見(jiàn)解做出回應(yīng)。廣告的作用是宣傳能滿足消費(fèi)者需求的產(chǎn)品的質(zhì)量、服務(wù)，包括情感訴求、符號(hào)象征，和有說(shuō)服力的方法。22) An environmental/cultural approach to international marketing permits a truly global

41、 orientation. The readers horizons are not limited to any specific nation or to the particular ways of doing business in a single nation.一個(gè)以環(huán)境/文化為手段的國(guó)際營(yíng)銷方式才是真正意義上的全球定位。讀者的視野不會(huì)受限于特定的民族或者在單一的國(guó)家通過(guò)特殊的方法做生意。二、翻譯：1) 自參考標(biāo)準(zhǔn)是一種無(wú)意識(shí)的，作為決策基礎(chǔ)參照自己的文化價(jià)值觀念，經(jīng)驗(yàn)和知識(shí)的標(biāo)準(zhǔn)。2) 種族中心主義是指自己的文化或公司知道如何最好地處理事情。3) 全球意識(shí)是有寬容的文化差異，知識(shí)

42、淵博的文化，歷史，世界的市場(chǎng)潛力，和全球的經(jīng)濟(jì)，社會(huì)和政治的發(fā)展趨勢(shì)。4) 我們必須使文化行為是否是好還是壞，更好或更壞的價(jià)值判斷。沒(méi)有文化的對(duì)錯(cuò)，只是差異5) 世界貿(mào)易組織和區(qū)域自由貿(mào)易的地區(qū)，如北美自由貿(mào)易區(qū)和歐盟的快速增長(zhǎng)，亞洲，拉丁美洲和東歐的發(fā)展中國(guó)家之間的自由市場(chǎng)制度的普遍接受;互聯(lián)網(wǎng)和其他全球媒體的影響解散國(guó)家邊界，并管理全球環(huán)境資源。6) 美國(guó)文化是低的背景下，個(gè)人主義，低功耗的距離，顯然接近英語(yǔ)。是不太常見(jiàn)的賄賂和美國(guó)人monochronic時(shí)間為主，語(yǔ)言直接，前景為重點(diǎn)，他們通過(guò)競(jìng)爭(zhēng)實(shí)現(xiàn)的效率。因此，美國(guó)是歸類在以下簡(jiǎn)稱信息化的文化。7) .日本文化是高的背景下，集體主義，

43、高權(quán)力距離，遠(yuǎn)離英語(yǔ)，是較常見(jiàn)的賄賂，polychronic（部分），語(yǔ)言間接，背景為重點(diǎn)。日本文化通過(guò)降低交易成本，實(shí)現(xiàn)效率，因此是正確分類的關(guān)系為導(dǎo)向的文化。8) .所有機(jī)構(gòu)，包括家庭，宗教，學(xué)校，媒體，政府和企業(yè)的社會(huì)影響文化。9) 在政府的變化，無(wú)論是通過(guò)選舉或政變，并不總是意味著政治風(fēng)險(xiǎn)水平的變化。相反，對(duì)外國(guó)企業(yè)的激進(jìn)政策的變化可能會(huì)發(fā)生，以及在最穩(wěn)定的政府。10) 國(guó)際公司面臨的各種經(jīng)濟(jì)風(fēng)險(xiǎn)：如外匯管制，當(dāng)?shù)睾康姆桑拗七M(jìn)口，稅控，價(jià)格控制和勞工問(wèn)題。11) 對(duì)商業(yè)活動(dòng)的限制，可對(duì)國(guó)家安全的旗幟下，以保護(hù)幼稚產(chǎn)業(yè)，以節(jié)省寶貴的外匯，增加收入，或打擊報(bào)復(fù)不公平貿(mào)易做法，除其他真

44、實(shí)或想象的的原因分12) 現(xiàn)有的互聯(lián)網(wǎng)法是含糊不清或不能完全覆蓋保護(hù)域名，稅收，在跨境交易的管轄權(quán)，和合同問(wèn)題等問(wèn)題。歐盟，美國(guó)和其他許多國(guó)家現(xiàn)行法律起草立法，以解決無(wú)數(shù)的法律問(wèn)題沒(méi)有明確的解決13) 在奧地利，地價(jià)優(yōu)惠，免費(fèi)贈(zèng)送或優(yōu)惠券，現(xiàn)金折扣視為被禁止的。在芬蘭的高級(jí)提供允許，只要不使用免費(fèi)的單詞。法國(guó)法律規(guī)定，只允許銷售每年兩次，在1月和8月。14) .根據(jù)法等，一般分為三個(gè)獨(dú)立的代碼：商業(yè)，民用的代碼，和刑事法律制度。15) 電視廣告是在許多國(guó)家，例如在德國(guó)，嚴(yán)格控制，例如，廣告必須間隔至少20分鐘，總廣告時(shí)間不得超過(guò)每小時(shí)12分鐘。在英國(guó)的商業(yè)電視臺(tái)是有限的，以每小時(shí)7分鐘16)

45、該公司的力量，是一個(gè)營(yíng)銷組織的前線。在國(guó)內(nèi)，國(guó)外兩個(gè)市場(chǎng)的營(yíng)銷中的作用正在迅速改變，以及與國(guó)際管理和銷售隊(duì)伍的組成。這些力量有許多獨(dú)特的要求，正在由外籍人士，本地人，第三國(guó)國(guó)民，或三者結(jié)合充滿。17) .M - 時(shí)間，或monochronic時(shí)間，典型北美，瑞士，德國(guó)，和Scandinavians.Most低語(yǔ)境文化的M -時(shí)間集中在一件事情上一次操作。 P -時(shí)間，或polychronic時(shí)間，更占優(yōu)勢(shì)，在高語(yǔ)境cultures.P時(shí)間是多任務(wù)和“一個(gè)人的偉大參與”的特點(diǎn)。18) 國(guó)際營(yíng)銷業(yè)務(wù)的管理人員之間的三種不同的戰(zhàn)略方向。同樣重要的是相關(guān)配套的國(guó)內(nèi)業(yè)務(wù)國(guó)際市場(chǎng)的困難。一個(gè)公司的第二種認(rèn)

46、為國(guó)際市場(chǎng)營(yíng)銷，銷售創(chuàng)收的一個(gè)關(guān)鍵方面，但作為一個(gè)獨(dú)立的實(shí)體對(duì)待每一個(gè)市場(chǎng)。最后，全球定位意見(jiàn)的全球市場(chǎng)和細(xì)分市場(chǎng)已不再僅僅依據(jù)國(guó)界，共同的消費(fèi)特點(diǎn)和發(fā)揮到適用于不同國(guó)家的關(guān)鍵分割變量來(lái)的行為。19) 所有國(guó)家都有法律規(guī)定，在推廣營(yíng)銷活動(dòng)，產(chǎn)品開(kāi)發(fā)，標(biāo)簽，定價(jià)，分銷渠道。在奧地利，地價(jià)優(yōu)惠，免費(fèi)贈(zèng)送或優(yōu)惠券，現(xiàn)金折扣視為被禁止的。在芬蘭的高級(jí)提供允許，只要不使用免費(fèi)的單詞。法國(guó)法律規(guī)定，只允許銷售每年兩次，在1月和8月。20) .進(jìn)入策略的選擇依賴于市場(chǎng)的特點(diǎn)（如潛在的銷售，戰(zhàn)略的重要性，文化的差異，以及國(guó)家限制）和公司的功能和特性，包括接近市場(chǎng)知識(shí)的程度，市場(chǎng)的參與，和承諾，管理準(zhǔn)備讓。21

47、) .在營(yíng)銷組合中的所有元素，涉及廣告的決定是最常見(jiàn)的集貿(mào)市場(chǎng)之間的文化差異的影響。消費(fèi)者應(yīng)對(duì)自己的文化，它的風(fēng)格，情感，價(jià)值體系，態(tài)度，信念，和觀念方面。廣告的功能是解釋在消費(fèi)者的需求，欲望，欲望，和愿望，情感訴求，符號(hào)，和有說(shuō)服力的方法方面的產(chǎn)品和服務(wù)的質(zhì)量。22) 環(huán)境/文化的國(guó)際營(yíng)銷方式，允許一個(gè)真正的全球定位。讀者的視野，不局限于任何特定的國(guó)家或在一個(gè)國(guó)家做生意的特殊方式。三、簡(jiǎn)答題1Differentiate among the three international marketing concepts.11.Three different strategic orientati

48、ons are found among managers of international marketing operations. Some see international marketing as ancillary to the domestic operations. A second kind of company sees international marketing as a crucial aspect of sales revenue generation but treats each market as a separate entity. Finally, a

49、global orientation views the globe as the marketplace and market segments are no longer based solely on national borderscommon consumer characteristics and behaviors come into play as key segmentation variables applied across countries.2Discuss the cultures influence in Exhibit 4.2 and Exhibit 4.3.

50、4（1），Birthrates have implications for sellers of diapers, toys, schools, and colleges（2）、Consumption of different types of food influence is culture: Chocolate by Swiss, seafood by Japanese preference, beef by British, wines by France and Italy （3）、Even diseases are influenced by culture: stomach ca

51、ncer in Japan, and lung cancer in Spain3Discuss measures a company might take to lessen its political vulnerability.6Relations between governments and MNCs are generally positive if the investment（1）Improves the balance of payments by increasing exports or reducing imports through import substitutio

52、n（2）Uses locally produced resources（3）Transfers capital, technology, and/or skills（4）Creates jobs（5）Makes tax contributionsPolitical parties often focus public opinion on the negative aspects of MNCs whether true or false（1）As scapegoats for their own failure （2）To serve their own interests Strategi

53、es that MNCs use to minimize political vulnerability and risk（1）Joint ventures（2）Expanding the investment base（3）Licensing （4）Planned domestication（5）Political bargaining（6）Political payoffs 4Explain the popularity of joint ventures. 9（1）IJVs are used as a means of lessening political and economic r

54、isks by the amount of the partners contribution to the venture（2）JVs provide a less risky way to enter markets that pose legal and cultural barriers than would be the case in an acquisition of an existing companyA:1. JVs are established, separate, legal entities; 2. they acknowledge intent by the pa

55、rtners to share in the management of the JV;3. they are partnerships between legally incorporated entities such as companies, chartered organizations, or governments, and not between individuals; 4. equity positions are held by each of the partnersl One important marketing reason is to gain access t

56、o markets. Nearly all of the developing countries, and many developed countries, require some degree of local participation for operating in their country. Mergers with distributor companies or companies which already have well-established local distribution may provide rapid market access and distr

57、ibution to foreign companies entering a country. Sometimes companies join forces in order to broaden the line of merchandise that they have available, thereby gaining marketing efficiency and better public image. l Another market reason for joining ventures is that local firms possess market informa

58、tion and the marketing know-how which would take years for a foreign company to acquire. Such participation minimizes the risk of market failure and speeds the marketing effort. Joint ventures may also arise for financial and manpower reasons. Financially it is sometimes desirable to merge with foreign companies because the merger provides access to local capital markets and combines the resources and fund raising capabilities the companies have. It may also give access to a higher quality and more capable managerial manpower.5Review the key variables that affect the marketers choice of dis