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Handbook of Research in International Marketing

Edited by Subhash C. Jain

Presenting the challenges and opportunities ahead, the contributors to this volume critically examine the current status and future direction of research in international marketing. The result of a sustained and lively dialogue among contributors from a variety of cultures, this volume gathers their perspectives and many insights on the revitalization of the field.
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Chapter 1: State-of-the-Art Review of Research International Marketing Management

Masaaki Kotabe


1. State-of-the-art review of research in international marketing management Masaaki Kotabe* INTRODUCTION International marketing underwent fundamental changes in the last two decades. Global political and economic liberalization trends created tremendous business opportunities and challenges for international marketers. For instance, the emergence of regional trading blocs in the form of the EU (European Union), NAFTA (North American Free Trade Agreement), and MERCOSUR (Mercado Común del Sur) have necessitated reorganization in the production and marketing strategies of firms. The changes in strategy include serving different markets from one production source or the shifting of production facilities for greater efficiency. The Asian financial crisis in the latter half of the 1990s provided a significant reality check on the wisdom of globally integrated strategy development. Wildly fluctuating exchange rates make it difficult for multinational companies to manage globally integrated but geographically scattered activities. Indeed, many companies are scurrying to speed steps toward making their procurement, manufacturing, and marketing operations in Asian countries more local. Since the yen’s sharp appreciation in the mid-1980s, Japanese manufacturers have moved to build an international production system less vulnerable to currency fluctuations by investing in local procurement and local marketing (Nikkei Weekly 1998). Two fundamental counteracting forces have always shaped the nature of marketing in the international arena over the years. The same counteracting forces have been revisited by many authors in such terms as ‘standardization vs. adaptation’ (1970s), ‘globalization vs. localization’ (1980s), and ‘global integration vs. local responsiveness’ (1990s). Terms have changed, but...

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