Showing posts with label International. Show all posts
Showing posts with label International. Show all posts

Saturday, February 9, 2013

Top Ten Biggest International Marketing Mistakes of All Time

1. When Parker Pen marketed a ballpoint pen in Mexico, its ads were supposed to have read, "It won't leak in your pocket and embarrass you." Instead, the company thought that the word "embarazar" (to impregnate) meant to embarrass, so the ad read: "It won't leak in your pocket and make you pregnant

2. In Spain, when Coors Brewing Company put its slogan, "Turn it loose" into Spanish; it was read as "Suffer from diarrhea".

3. When Braniff International Airways translated a slogan touting its upholstery, "Fly in leather", it came out in Spanish as "Fly naked".

Top Ten Biggest International Marketing Mistakes of All Time

4. When Pepsi started marketing its products in China a few years back, they translated their slogan, "Pepsi Brings You Back to Life" pretty literally. The slogan in Chinese really meant, "Pepsi Brings Your Ancestors Back from the Grave."

5. Chicken magnate Frank Perdue's line, "It takes a tough man to make a tender chicken," sounds much more interesting in Spanish: "It takes a sexually stimulated man to make a chicken affectionate."

6. Scandinavian vacuum manufacturer Electrolux used the following in an American campaign: "Nothing sucks like an Electrolux".

7. A hair products company, Clairol, introduced the "Mist Stick", a curling iron, into Germany only to find out that mist is slang for manure. Not too many people had use for the manure stick.

8. The American slogan for Salem cigarettes, "Salem-Feeling Free", was translated into the Japanese market as "When smoking Salem, you will feel so refreshed that your mind seems to be free and empty."

9. PepsiCola lost it dominant market share to Coke in South East Asia when Pepsi changed the color of its vending machines and coolers from deep "Regal" blue to light "Ice" blue as Light blue is associated with death and mourning in SE Asia.

10. We can't forget Chevrolet's attempt to launch the Nova -- Spanish translation, "Doesn't Go" -- in Mexico (turns out this one appears to be an urban legend and cannot be verified). Many sources on the internet allege this is untrue.

Top Ten Biggest International Marketing Mistakes of All Time
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Brian Henderson oversees internal and external marketing for Prezza Technologies. Prior to joining Prezza Technologies, Brian has held senior-level marketing positions in successful New England-based companies, including Perseus Development Corporation, Equallogic Corporation, and EMC Corporation.

Brian received his degree in marketing from the University of Massachusetts at Amherst’s Isenberg School of Management.

Survey Software from Prezza Technologies

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Sunday, February 3, 2013

What Are the Pros and Cons of International Trade?

When you head to your favorite shop in town, you may not realize that the purchases you make effect communities far from where you live. If you buy foods, clothing, books and toys that aren't manufactured in your area, you benefit not only the store which carries them but the corresponding companies that produce the goods you use daily. For decades, our relations with foreign nations have shaped the way people here do business, yet in recent times the call to support local farmers and manufacturers has gained strength. As a consumer, it's good to know the pros and cons of international trade as they effect you, your community, and the country.

Does trade with other nations hurt or hinder domestic economy? The novice student of international relations will be aware of which countries do well importing into and exporting from the Americas, while domestic workers may charge that foreign industries take away jobs. There are pros and cons to global industry, some of which are detailed here.

Pros of International Trade

What Are the Pros and Cons of International Trade?

Trade may offered goods and services not readily available through domestic or local distributors. There are certain plants, produce, and resources indigenous to foreign countries that we may not be able to make here. Even if it is possible, product quality may be better in the imports brought into the States. While it is nice to enjoy wines grown in California and Virginia, for example, some varietals of grape grow best in Italy and France, so if you want them you will need to connect overseas.
Some foreign imported goods may come at a better price in the long run. Even with shipping and transportation costs, some products may be ordered at affordable rates, depending on what you want. If that particular manufacturer is able to create bulk numbers in a reasonable time, domestic businessmen may benefit more.
Trade connections can increase awareness of and interest in American products. The more businesses deal with outsiders, the lines of communications are open to sell products as well as buy.

Cons of International Trade

Perhaps the biggest obstacle to overcome, speaking of lines of communication, is the language barrier. When dealing with distributors in countries where English is not a main tongue, one can become frustrated by such roadblocks. This in turn could lead to problems with delivery and orders.
Natural disasters and international conflicts may cause delays and breakdowns in supply chains. Retailers who previously bought coffee from Haiti and products from Japan likely had to rearrange their inventories until both countries are fully operational again.
As mentioned briefly above, domestic employment factors into trade as well. Jobs may not be completely lost to other countries, but many workers may find they need to alter their lives to suit changes in the economy.

One can see both sides of international trades - the benefits and challenges. How you make global business relations work for me depends on what you need, where your market is, and how you can overcome obstacles that threaten your business.

What Are the Pros and Cons of International Trade?
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Kathryn Lively is a freelance writer specializing in articles on global trade portals and supply chain management.

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Tuesday, January 22, 2013

Benefits of International Business - Even Small Businesses Can Profit

What are the benefits of international business? All you have to do to find the answer to this question is to see what smart investors do on Wall Street. They develop a portfolio that includes international stocks in order to hedge their losses if prices go down in the U.S., and to bolster their chances of gaining lucrative returns from a variety of sources. If you are a small business owner and have a product or a service that has relevancy outside of the United States you may be able to expand your reach into other markets where the shipping costs and taxes are not exorbitantly high. The question is how does someone living, for example, in Great Britain or Germany find out about you? Here are some tips that you should consider following.

In the first place, you will need to have a website that contains what are called "keywords" or "keyword phrases" that people use when searching for certain items. Having a website online without any of these phrases in your text or domain name will serve you poorly when it comes to driving traffic to your site. You can learn how to use online marketing techniques, however, to greatly enhance your visibility factor online, and to use social media to create a promotional campaign that can eventually garner you untold thousands of dollars in profit.

The benefits of international business are yours for the taking, but only if you create a plan for it. Take some time to learn online marketing and social media techniques, and not only can you expand your reach oversees but you can increase your profits at home.

Benefits of International Business - Even Small Businesses Can Profit
Benefits of International Business - Even Small Businesses Can Profit
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Wednesday, January 16, 2013

Risks in International Business

Just as there are reasons to get into global markets, and benefits from global markets, there are also risks involved in locating companies in certain countries. Each country may have its potentials; it also has its woes that are associated with doing business with major companies. Some of the rogue countries may have all the natural minerals but the risks involved in doing business in those countries exceed the benefits. Some of the risks in international business are:

(1) Strategic Risk
(2) Operational Risk
(3) Political Risk
(4) Country Risk
(5) Technological Risk
(6) Environmental Risk
(7) Economic Risk
(8) Financial Risk
(9) Terrorism Risk

Strategic Risk: The ability of a firm to make a strategic decision in order to respond to the forces that are a source of risk. These forces also impact the competitiveness of a firm. Porter defines them as: threat of new entrants in the industry, threat of substitute goods and services, intensity of competition within the industry, bargaining power of suppliers, and bargaining power of consumers.

Risks in International Business

Operational Risk: This is caused by the assets and financial capital that aid in the day-to-day business operations. The breakdown of machineries, supply and demand of the resources and products, shortfall of the goods and services, lack of perfect logistic and inventory will lead to inefficiency of production. By controlling costs, unnecessary waste will be reduced, and the process improvement may enhance the lead-time, reduce variance and contribute to efficiency in globalization.

Political Risk: The political actions and instability may make it difficult for companies to operate efficiently in these countries due to negative publicity and impact created by individuals in the top government. A firm cannot effectively operate to its full capacity in order to maximize profit in such an unstable country's political turbulence. A new and hostile government may replace the friendly one, and hence expropriate foreign assets.

Country Risk: The culture or the instability of a country may create risks that may make it difficult for multinational companies to operate safely, effectively, and efficiently. Some of the country risks come from the governments' policies, economic conditions, security factors, and political conditions. Solving one of these problems without all of the problems (aggregate) together will not be enough in mitigating the country risk.

Technological Risk: Lack of security in electronic transactions, the cost of developing new technology, and the fact that these new technology may fail, and when all of these are coupled with the outdated existing technology, the result may create a dangerous effect in doing business in the international arena.

Environmental Risk: Air, water, and environmental pollution may affect the health of the citizens, and lead to public outcry of the citizens. These problems may also lead to damaging the reputation of the companies that do business in that area.

Economic Risk: This comes from the inability of a country to meet its financial obligations. The changing of foreign-investment or/and domestic fiscal or monetary policies. The effect of exchange-rate and interest rate make it difficult to conduct international business.

Financial Risk: This area is affected by the currency exchange rate, government flexibility in allowing the firms to repatriate profits or funds outside the country. The devaluation and inflation will also impact the firm's ability to operate at an efficient capacity and still be stable. Most countries make it difficult for foreign firms to repatriate funds thus forcing these firms to invest its funds at a less optimal level. Sometimes, firms' assets are confiscated and that contributes to financial losses.

Terrorism Risk: These are attacks that may stem from lack of hope; confidence; differences in culture and religious philosophy, and/or merely hate of companies by citizens of host countries. It leads to potential hostile attitudes, sabotage of foreign companies and/or kidnapping of the employers and employees. Such frustrating situations make it difficult to operate in these countries.

Although the benefits in international business exceed the risks, firms should take a risk assessment of each country and to also include intellectual property, red tape and corruption, human resource restrictions, and ownership restrictions in the analysis, in order to consider all risks involved before venturing into any of the countries.

Risks in International Business
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Dr. Sidney Okolo is a professor, consultant, strategist, and Africa expert. He is affiliated to several universities, the Managing Director of International Business Associates, a management consulting firm, and also the CEO of Global Education Support, an education assistance program.

Among other things, he engages in all aspects of learning, knowledge, organization and human change. His focus is on leadership, management, entrepreneurship, profit engineering, human potential, excellence, achievement, business strategy, research and development. Product management, change management, conflict management, athlete management, marketing, business development and operations. He works with clients to adapt to change due to change in factors of production, technology, goods and services. He engages clients in training, retraining, development, skills enhancement, association, behavior modification, ways of thinking, and attitude adjustment. In addition to his work in the United States, his focus is also on developing countries in the continent of Africa, their leadership, culture, economic and market structure, community planning and development, and his created four letter word, "PIES", which stands for: poverty, instability, ethnicity, and sectarianism.

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Wednesday, December 26, 2012

International Journal of Stress Management

The International Journal of Stress Management is a methodical journal for experts treating personal and occupational stress. The journal comprises "peer-reviewed" first-rate original articles including reviews, theoretical, historical, and empirical articles, in addition to editorials and book reviews. Some areas of interest take in "stress and trauma assessment", "stress and trauma management", stress management, and treatment issues.

Released as a quarterly journal, it is also the official publication of the International Stress Management Association or ISMA. ISMA is a nonprofit organization committed to "working for a less stressful world". The organization seeks to press forward the education of students and professionals, as well as make possible methodological sound research within the wide field of "interdisciplinary stress management", which includes psychology, dentistry, medicine, physical therapy, education, occupational therapy, speech therapy, business and industry, and psychiatry.

The International Journal of Stress Management, issue 4 Volume 13 (November 2006), includes articles reflecting on different issues in stress management internationally and areas of stress, on top of four articles that centers specifically on stress in the "policing" profession. Some of the articles found in this issue include:

International Journal of Stress Management

Prominent Consequences of Role Stress: A Meta-Analytic Review
This journal article focuses on "role stress". The article examines well-know effects of role stress, specifically centered on researching dissimilarity in relationships between aspects of role stress, and regularly cited effects through the use of the meta-analysis techniques.

Emotional Disonnance, Burnout, and In-role Performance Among Nurses and Police Officers
The articles touch on two studies -101 police officers and 108 nurses tested the suggestion that "emotionally demanding" connections with recipients can result to emotional dissonance that may in turn, lead to impaired performance and job burnout. Additionally, the authors foresee that "emotional dissonance" would be unconstructively related to in-role performance in terms of its association with burnout.

Posttraumatic Stress Symptoms and Subclinical Cardiovascular Disease in Police Officers
The article centers on a present study that looks at the connections of "posttraumatic stress disorder symptoms" to "subclinical cardiovascular disease" in police officers. The study showed that higher PTSD symptoms in the police sample were linked to an almost double reduction in "brachial artery FMD" -a biomarker of "subclinical cardiovascular disease.

The International Journal of Stress Management targets professionals in the field of education, psychiatry, psychology, medicine, and others "researching stress and treating stress". The International Journal of Stress Management is distributed in hospitals, other health-related institutes, and hospitals. The rate for subscription to the journal is at for organizations and for individuals.

International Journal of Stress Management
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Friday, November 30, 2012

Trademark International Class - Class 35 - Advertising and Business Services

All goods or services are categorized within International Classes (IC hereafter). Goods run from classes IC 1-34, while Services are in IC 35-45. Let's take a closer look at one of these trademark classes - class 35.

What is International Class 35 All About?

Each class has a short title heading that gives a snapshot of what that class is all about -- IC 35's short title is advertising and business services. Pretty vague, eh?

Trademark International Class - Class 35 - Advertising and Business Services

The first part of IC 35's description, advertising, is straightforward. If it's advertising, marketing or promoting services that are being offered, then this is the class. Now there are going to be some exceptions, as with anything related to trademarks.

Tangible advertising goods, such as signs, flyers, brochures, are NOT going to be in IC 35 as those items are not technically a service though are definitely part of a service; tangible paper-based advertising goods are in IC 16. Training, coaching, educating, etc. about advertising, marketing or promotion is NOT going to be in IC 35 but rather in IC 41, which is the educational class.

The second part of international class 35's description, business services, is not straightforward at all. Semantically, all services could be considered as business services, yes? No way says the trademark powers that be; at least no way if those services can fit within a different international classification.

The USPTO has about 1500 accepted descriptions that fit into IC 35; check them out here.

So What Business Services are in International Class 35?

Ooh this is a tough nut to crack as there are definitely some discernible patterns within this class but there's a whole lot of slap-dash in here too. Here's a general breakdown:

o If your services consist, in part, of the word business, you're likely in trademark class 35. This includes consulting, advising, administration, management, development, information, organization, research, planning, etc.

o Employment services are in this class, which includes hiring, recruiting, placement, staffing and career networking.

o Retail services selling ANY products under the sun, which means a brick and mortar store, online retail sites, mail order, catalog, wholesale, etc.

Trademark International Class - Class 35 - Advertising and Business Services
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Shannon Moore is the General Manager for TradeMark Express. Since 1992, TradeMark Express has met the needs of their clients with comprehensive research, application preparation, attorney referrals and trademark consultation. For further details, please visit us on the web at TradeMark Express or call Shannon directly at 800.340.2010.

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Monday, November 19, 2012

International Business Risks Or Risks of Doing Business Overseas

Anytime businesses decide to operate or expand internationally, they face certain and specific risks. These international business risks can be determined by a number of different factors including country history, cultural values, mores, geographical traits and of course legal precedents of chosen international location. The company or firm must consider all of these factors before making a solid and final decision to move abroad. The firm must always keep in mind their competitive advantage at home and compare that standing prior to entering the international business realm. They must keep in mind that risks are always relative to the size and stability of the firm's competitive advantage.

Basically, there are six primary international business risks which are most often faced by firms considering entering the international business realm. Again, they are always tied closely to the firm's competitive advantage. A firm's competitive advantage is broken by "type", "scope", "transferability", and finally "translate-ability". All of these factors break into degrees of low risk to high risk and must always be considered in the plan.

When doing this risk analysis, S.L.E.P.T. comes in very handy. SLEPT stands for Social, Legal, Economic, Political, and Technological. In this case, the firm would have to look at the inherent risks in the firm being a wholly owned operation, a joint venture, a franchise, licensing issues, and export ability. On the other side of the coin, they would also need to look at marker risks, ownership risks, intellectual property risks, currency risks, and finally political risks.

International Business Risks Or Risks of Doing Business Overseas

I've decided to break this international business risks post into separate posts in a series to make it easier to follow and to make it more concise and to the point. You can click on my author link and find the rest of the posts in the series which will include all factors discussed in greater detail. They will include everything from political risks of corruption, unstable institutions, and red-tape. I will also be looking at currency risks, intellectual property risks, ownership risks, and finally market risks and all that they involve.

In the end it should be understood that these risks are not the only risks that a firm may face when considering, expanding, and beginning to do business internationally. There are certainly other risks that absolutely must be analyzed by the firm. The firm must be extremely thorough in doing their due diligence analysis before entering any country with the intent of establishing themselves there. Before making any major and "life-altering" decisions, the company must understand the amount of risk that is currently and already present there, and most importantly, how much of that inherent risk is the firm willing to take upon it and assume.

In closing I would like to simply state possibly the obvious but some that needs to be stated and restated many times so that it's importance really sinks in. And that simply that deciding to enter a country is always a very, very serious decision that can and will make or break a firm and so it's imperative that the decision makers do not skimp on the analysis involved. Due diligence is of utmost importance here.

International Business Risks Or Risks of Doing Business Overseas
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Vitaliy Dadalyan operates http://WestminsterCollegeBlog.com an interactive portal designed with the professional business person in mind. It's intended to be a free, unifying resource for students and everyone else serious about expanding their business knowledge base. Visitors are welcome to post, comment, and generally contribute to the site which is run by a student of Westminster College in Salt Lake City, Utah.

Visit Westminster College Blog it's free, it's useful, and you'll likely learn something new.

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Thursday, November 15, 2012

Barriers to International Business

Firms desiring to enter international business face several obstacles; some are much more severe than others. The most common barriers to effective business are cultural, social, and political barriers, and tariffs and trade restrictions.

The first one to effective business is the cultural and social barriers. A nation's culture and social forces can restrict international business activities. Culture consists of a country's general concepts and values and tangible items such as food, clothing, and building. Social forces include family, education, religion and customs. Selling products from one country to another is sometimes difficult when the cultures of the two countries differ significantly. For example, when McDonald's opened its first restaurant in Rome, it was met with protest. The people of Rome objected to the smell of hamburgers frying. McDonald's overcame this objection by changing the exhaust system of the restaurant.

The second barrier is the social forces that can create obstacles to international trade. In some countries, purchasing items as basic as food and clothing can be influenced by religion. In many nations, individuals do not have the same choices in food, clothing, and health care.

Barriers to International Business

The third one is political barriers. The political climate of a country can have a major impact on international business. Nations experiencing intense political unrest may change their attitude toward foreign firms at any time; this instability creates an unfavorable atmosphere for international trade.

The last one is the tariffs and trade restrictions. Tariffs and trade restrictions are also barriers to international business. A nation can restrict trade through import tariffs, quotas and embargoes, and exchanges controls.

Barriers to International Business
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Monday, November 5, 2012

International Business Success

There is a lot of talk today about being "global". What does global mean? A person of the world? Every country is as different. So is every locality and city or town. The skills a business person needs to be successful in international business go beyond being global. While not comprehensive, this list based on over a dozen years of international business experience should help.

Travel

For the international business person, travel is a way of life. Long distance air travel can be especially brutal. The best advice is to arrive one day before any important meetings or conferences to adjust to any time difference. In the air, eat, sleep, work and read but do all in moderation. Air travel gluttony is common among international travelers. The on thing you cannot do is exercise on an airplane.

International Business Success

Lodging

Stay where your host, whether a local office or a client recommends. While cost is a consideration, so is safety, convenience to meeting locations and services provided. This is the home away from home so chose it with care.

Meals

Eat in moderation. Business travel is not the time to make up for every diet that one has ever been one. There is the temptation to eat more than usual. On the other had, when with people who live locally, whether colleagues or clients, ask what they recommend when dining together. Apart from allergies, one should be open to eating local cuisine.

Drinking

Some cultures drink more than Americans. Some drink less. And some not at all. The best advice is to drink in moderation or not at all. Similar to eating, international business travel is not the time to beat ones college drinking record. It is not healthy and it is insulting to clients and colleagues.

Dress

Most American business people, even after the business casual trend, still dress much more casually than business people internationally. Find out from local colleagues or even clients what attire is appropriate. If you do not know, dress in traditional business attire (suits for men and for women). This can always be dressed down if appropriate. Dress like you mean business but more importantly, dress appropriately. The same applies to evening dinners and functions outside of business hours.

Meetings

Be at meeting early. Do not leave until the meeting is over. Even if others leave to take calls, do not do so except at scheduled breaks. Eat in moderation if lunch is brought in. Do not drink too much coffee but bottled water is good. Clean up after yourself after the meeting. And do not sit in the meeting with your laptop and read your email. That is rude. Do make sure you bring plenty of business cards. Introduce yourself to everybody. Do not interrupt, raise your voice or swear. If you have other calls, schedule them for the evening when not meeting with the clients or your colleagues.

Recreation

In the evenings it is common to have dinner with clients or colleagues. After dinner is often a time to relax, exercise and catch up on some work before the next day. If staying over a weekend or taking a day off, visit local historical sites, museums, cultural events and also shops and restaurants. Staying in the hotel doing work is not healthy and it does not make one more internationally-minded or cultured.

Communication

Find out how your clients and colleagues prefer to communicate when not face-to-face. E-mail is common today. Conference calls are important too. Video conference calls can be very effective. Snail mail and faxes are less and less common today but are still necessary from time-to-time. Keep all communications clear, crisp and to the point. On international conference calls, listen more than talk. And do not interrupt. Ever. Take notes or minutes and make sure they are distributed within one business day of the call. Never e-mail jokes, gags, anything obscene or off-color. Do not swear or raise your voice on calls or video calls. Listening and patience are valued in most non-US cultures.

Language

While most non-US business people speak 2-4 languages most from the US speak 1 or perhaps 2 and not well. To this end, speak clearly in English. Be patient if asked to repeat or explain. This is especially true on conference calls. It is acceptable to pick up local words or phrases. Make sure they are appropriate and that they are pronounced flawlessly. Do not make a joke out of local words or phrases. This is insulting to clients and local colleagues.

While business has a lot to do with finance, technology, human resources, research and development and law, it has more to do with people than anything else. To that end, doing business internationally is about people. By traveling and working with dignity and respect for customers and local colleagues, one is taking the first step toward the extensive skills needed to be successful in international business.

International Business Success
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George F. Franks, III is the founder and CEO of Franks Consulting Group, a Bethesda, Maryland based management consulting and leadership coaching practice. He is a member of the International Coach Federation and the Institute of Management Consultants (USA).

George can be contacted at: gfranks@franksconsultinggroup.com

Franks Consulting Group is on the web at: http://franksconsultinggroup.com

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