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Nestlé, Unilever, and Modelēz get close to or above 40 percent of their total business coming from emerging markets.

The business buyer makes the fewest decisions in the straight rebuy situation and the most in the new-task situation.

Product adaptation not only involves altering the product to meet local preferences, but also calls for a change in the communication strategy.

Brand personality is the specific mix of human traits that may be attributed to a particular brand.

Sensory memory is the virtually unlimited repository where information that we encounter as we go through life ends up.

When PepsiCo sold its cola syrup to Russia for rubles and agreed to buy Russian vodka at a certain rate for sale in the United States, it was engaged in the form of countertrade known as an offset.

Once a company decides to target a particular country, it must determine the best mode of entry. Its broad choices are indirect exporting, direct exporting, licensing, joint ventures, and direct investment.

In reality, it is very easy for firms to estimate their demand and cost functions.

If a calculator company produces 100,000 hand calculators at a cost of $10, but the cost drops to $9 when it produces 200,000 and $8 when it produces 400,000 hand calculators, the decline in average cost with accumulated product experience is called the price elasticity of demand.

The sprinkler approach is an entry strategy where a company gradually enters countries in sequence.