Page 255 - DMGT547_INTERNATIONAL_MARKETING

International Marketing

Notes

Notes Informal agreements often consider the historical and social context of a relationship
and acknowledge that the performance and enforcement of obligations are an outcome of
mutual interest between companies.

Explicit Contract: Negotiators with this frame favour and expect written, legally binding
contracts. A written contract records the agreement and definitively specifies what each party
has agreed to do. Consequently, negotiators believe that written agreements provide the stability
that allows their organization to make investments and minimize the risk of business.
Implicit Agreement: Negotiators with this viewpoint favour broad or vague language in a
contract because they feel that definitive contract terms are too rigid to allow a good working
relationship to evolve. Particularly with new relationships, negotiators may feel that it is
impossible to anticipate and document every conceivable contingency. They may also believe
that contracts inhibit the parties from exploring unexpected or unusual opportunities for
improvement and success. Negotiators view the contract as a rough guideline, not because they
want to evade responsibility, but because the relationship, not the contract, is primary.

Self Assessment

Fill in the blanks:

10. Negotiators with a relationship frame view task-related issues as being ...................... from
the relationship.

11. ...................... Decision-Making Process refers to the manner in which a negotiating team
reaches decisions.

12. ...................... is one party’s belief that the other party will take action to honor agreements
that have been reached
13. High-context communicators tend to be ......................and listen carefully.

14. People with an achievement-based view believe members of a negotiating team should
be selected because they have .......................

15. ...................... are used to support persuasive arguments

14.5 Global E-Marketing and EDI

Global E-Marketing stands for ‘electronic marketing’. In contrast to traditional marketing,
E-Marketing takes marketing techniques and concepts, and applies them through the electronic
medium of the internet. Essentially, E-marketing threads the technical and graphical aspects of
online tools together, allowing for design, advertising, brand development, promotion and
sales.

14.5.1 Benefits of Global E-Marketing

Global reach and access to varying demographics. A website can reach anyone anywhere
in the world who has access to the internet, you are only a search or a click of a button
away from any internet user. This allows you to compete globally and test new markets
you may not be able to reach through traditional channels.

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