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International Marketing > Exam 3 > Flashcards

Exam 3 Flashcards

(102 cards)

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1
Q

Competitive advantage

A

Look at the competition and see what gives you a customer appreciated advantage over them

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2
Q

Differentation

A

Something that seperates you from the competition, makes the custoemr more loyal

Industrial customer knows differentation comes with a cost

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3
Q

Intrapersonal

A

Communcaition with yourself

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4
Q

Interpersonal, Intragroup

Easiest to promote/with customers
Innovators/ early adopters

A

One or more person talking to each other with the same understanding

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5
Q

Interpersonal, Intergroup

The rest of the market

A

Different groups

Must dumb it down

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6
Q

Mass communications(ads)

A

Coms by technology

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7
Q

Communications process

A
  • Message
  • Selection of Delievery Vehicle
  • Encoding the Message
  • Transmission (Send message)
  • Bias Stream (Anything that interferes with the ad)
  • Recepient (target market)
  • Decode the message
  • Message
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8
Q

Feedback

A
  • Most important
  • Only way to know if the communication process message are the same
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9
Q

Promotion Mix

Adverstising

A

Entertaining the audience

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10
Q

Adverstising

Institution Ad

A

Talks about the company, not product

Popular in Europe

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11
Q

Advestising

Local Ads

A

Geographically localized Ad, Usually product specific and where to buy

Seeing ads in News day, Channel 12

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12
Q

Advestising

Nationals Ads

A

Ad seen by the whole country, product specific

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13
Q

Advestising

Global Ad

A

Both institution and product specific all over the world

Everyone knows the brand

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14
Q

Promotion Mix

Sales promotion

A

Anything that influence a customer to buy or rebuy a product

Coupon, smapling, tradeshow, sales, sweeptstate(Poll to win something)

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15
Q

Promotion mix

Event sponsorship

A

Some kind of activity is going on, sports event, traget market is high

superbowl, olympics

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16
Q

Promotion mix

Product placement

A

Take product into a Tv show or movie

Must pay for product placement, good guy only uses iphone

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17
Q

Promotion mix

Personal selling

A

sales people are looked down upon,

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18
Q

Puffing

A

Lying to get a sale

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19
Q

Promotion mix

Direct marketing

A

Take a list of target market

Limited access to list in other parts

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20
Q

Standardization

A

Keep what you got

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21
Q

Adaptation

A

Adapt to the culture

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22
Q

Capital goods

A

High sepense items that depreciate over its life time

No changes, only in language
tangible assets: Building, chairs, printing machine

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23
Q

Component parts

A

Manufacutred item that goes into someone’s product

no modify, Car parts

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24
Q

Raw materials

Nature items

A

Non manufactured item that goes into someone else’s product

No modify

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25
Professional services
Needs modifications depends on situation
26
Products for resale: Distribution
Industrial- no modify Consumer - lots of modify
27
Convenicence goods
Low risk item, no cost, no thought buying ## Footnote modify/adaption to culture/translation Distributed all over the place
28
Shopping goods
High cost item, more risk, must shop around to buy it ## Footnote Modify depends on the item, furniture, airline tickets
29
Speciality goods
Easiest to market, unique product, demands supplies ## Footnote No modification, consumer come to you, Luxury cars
30
unsought goods
Extremem difficult to market, need it but don't want to buy ## Footnote Cemetery block
31
Extended product
Anything over and above the "product" that makes it attractive for a purchase | Market other than the product ## Footnote Eg. Brand reputation, support, finanicing, delivery
32
# Factor influence adaptation Country
1) Compulsory adaptation - national standards 2) Climate - weather/shelf life 3) local product usage - local taste/preference
33
# Factors influence adaptation Product characteristics
1) Safety standard - auto industry 2) Hygiene regulations - FDA/expirations date 3) Industry standard - ISO 9000/SA 8000
34
# Factors influence adaptation Company characteristics
Can they afford it/ is it worth the effort
35
Product positioning
How the customer views your product based on specific variables/attribute ## Footnote variables such as price/quality/ benefit/ style
36
Global origin
Global consumer culture positioning ## Footnote Coke, boeing, sony
37
Foregin origin
Foregin conusmer culture positioning, foregin product better than local ## Footnote Fuji water, IKEA
38
Local origin
Local consumer culture ## Footnote hershey
39
Research and development
Done in mulitple countries, closer to customers, local inputs and host govt.
40
Brand
recognizable name/term that differentiate from their competitions ## Footnote generates brand loyalty
41
Brand nonrecognition(first)
get the brand out there, brand is not known
42
Brand recognition
Consumer knows the brand, might buy depends on sale
43
Brand preferences
Customers prefer that brand, but will buy sub if brand is not available
44
Brand insistances
Customer intend to buy only that brand, company controls distribution ## Footnote Customer will come back only two times, but not a 3rd if product is not abailable
45
Global brand
Same brand all over the place
46
Genertic brand
Nonbranded product, low ses or developing countries | Sometimes better than regular brand
47
Store/private brand
Distribution channel brand products specific to the store
48
Maximazation profit
price product that the highest possible price you can get away with ## Footnote specialty goods
49
Acceptable/Satisfactory ## Footnote what most company uses
make enough to cover cost + some proft ## Footnote ROI are similar in industry
50
Volume pricing
just move product, not interest in profit ## Footnote eliminates past season product for new season
51
Status quo/competitive pricing
price product the same as the competition/market ## Footnote No thought about costing structure
52
Price skimming
high upfront price(max profit first then come down) ## Footnote limited cokmpetition, cost of differentiatoin, early adopters
53
Penetration pricing
low price, tries to get into new market segment or move inventory ## Footnote buy market share, competition
54
Companion product pricing
two or more product placed together ## Footnote shampoo + toothpaste
55
Design to cost pricing( not cost based)
what the cusomter can afford, only cost you can charge ## Footnote usually in undeveloped or emerging market
56
# Incoterms(International commerical terms) E-term
Buyer takes title at seller location | get the product at the seller location
57
# Incoterms(International commerical terms) D-terms
Buyer take title somewhere in their country
58
# Incoterms(International commerical terms) F terms
Buyer takes title at the port side
59
# Incoterms(International commerical terms) C terms
Buyer takes title on board
60
# Pricing structure/option Same world wide
Same price everywhere(price to lo segment) ## Footnote Give up on profit
61
# Pricing structure/option Dual pricing(domestic and export)
one price for domestic, different price for foregin
62
# Pricing structure/option Country/region by Country/region
Customer/market based
63
# Pricing options Dumping
Selling below cost
64
# Pricing options Transfer pricing
price transfer within the company since they're so big
65
# Pricing options Price fixing
an agreement between competitors to fix the price level, illegal in distribution
66
# Global market persepective Macro view
country by country
67
Micro view
Local segments of the country
68
Global segments
Pluralization of consumption, corss border | same product everywhere
69
MAPS
1) Measureable - can it be measured 2) Accessible - able to use distribution strucutre 3) Profitable - needs to make money 4) Stability
70
High profit, high accessible
gold market
71
high profit, low accesible
joint venture
72
low profit, high accesible
bail, find another way into market
73
low profit, low accessible
leave
74
# Consumer segmentation variables Demographics
Measureable characteristics of consumer ## Footnote age, gender, income, education, employment
75
# Consumer segmentation variables Psychographic
Not measurable, attitudes, personality, and life style, culture
76
# Consumer segmentation variables Behavior
How will they use the product ## Footnote High users: keep them Non-users: major introduction to the product
77
# Consumer segmentation variables Benefit
Why they buy/use the product
78
# Consumer segmentation variables Geographic considerations
weather, climate
79
# Industrial segementation variables Geographic
Where are they located
80
# Industrial segmentation Applications
how they use the product
81
# Industrial segmentation Industry
Same rules in same nidustry
82
# Industrial segmentation Technical levels
dictates behavior
83
# Industrial segmentation Demographic
size of company, number of employee, money spent on product
84
Undifferentiated(Standard global marketing)
Need to change lanugage, same strategy everywhere
85
Differentiated(multi segment) | Multi national
Individual segments in each country
86
Niche or focus
Small piece of a larger segment(Subset) ## Footnote Use whene everyone usese the same mix, provide something different than what the market gives
87
Micro marketing
A segment of one customer
88
# Benefit of good channel distribution Bring buyers and sellers together
Take title/ownership to product
89
# Benefit of good channel management Specialization of labor
No one else will do the same job in a distribution channel Subject matter expertise
90
# Benefit of good channel management Standardized exchange transaction
Managed by industry Makes distribution more efficent/smooth
91
Direct distribution
Manufacturer goes directly to the end user ## Footnote most company are doing direct since it's less costly
92
Indirect distribution
M -> W -> R -> EU ## Footnote Thief can happen within these channel
93
# Variables that influence channel selection Market/customers
Less customers = direct distribution More customers = indirect distribution ## Footnote Think about planes
94
# Variables that influence channel selection Product
High end good = direct distribution Low end good = indirect
95
# Variables that influence channel selection Organizational factors
Do it better? less expensive? do it at all?
96
# Variables that influence channel selection Competition
Keep eye on other competitors, keep being efficient
97
# Variables that influence channel selection Availability
Only use what's available
98
Vertical Marketing Systems(VMS)
Planned channel system desgined to be effective and efficient
99
# Types of VMS Corporate
One company own the whole VMS/ distribution channel
100
# Types of VMS contractual
Contract with everyone ## Footnote Con: No flexiblity Pro: Everyone knows what the do
101
# Types of VMS Administered(bully)
Someone that slaps everyone else in the distribution channel ## Footnote Walmart
102
Expats
Sending domestic employee to foregin countries to work ## Footnote Usually fail: - Due to Family pressure to come back - Domestic worker outlive your stay - No preparation/training from company about the country

International Marketing (2 decks)

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