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International Marketing > Exam 3 > Flashcards

Exam 3 Flashcards

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
Q

Professional services

A

Needs modifications depends on situation

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26
Q

Products for resale: Distribution

A

Industrial- no modify
Consumer - lots of modify

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27
Q

Convenicence goods

A

Low risk item, no cost, no thought buying

modify/adaption to culture/translation
Distributed all over the place

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28
Q

Shopping goods

A

High cost item, more risk, must shop around to buy it

Modify depends on the item, furniture, airline tickets

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29
Q

Speciality goods

A

Easiest to market, unique product, demands supplies

No modification, consumer come to you, Luxury cars

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30
Q

unsought goods

A

Extremem difficult to market, need it but don’t want to buy

Cemetery block

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31
Q

Extended product

A

Anything over and above the “product” that makes it attractive for a purchase

Market other than the product

Eg. Brand reputation, support, finanicing, delivery

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32
Q

Factor influence adaptation

Country

A

1) Compulsory adaptation - national standards
2) Climate - weather/shelf life
3) local product usage - local taste/preference

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33
Q

Factors influence adaptation

Product characteristics

A

1) Safety standard - auto industry
2) Hygiene regulations - FDA/expirations date
3) Industry standard - ISO 9000/SA 8000

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34
Q

Factors influence adaptation

Company characteristics

A

Can they afford it/ is it worth the effort

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35
Q

Product positioning

A

How the customer views your product based on specific variables/attribute

variables such as price/quality/ benefit/ style

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36
Q

Global origin

A

Global consumer culture positioning

Coke, boeing, sony

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37
Q

Foregin origin

A

Foregin conusmer culture positioning, foregin product better than local

Fuji water, IKEA

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38
Q

Local origin

A

Local consumer culture

hershey

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39
Q

Research and development

A

Done in mulitple countries, closer to customers, local inputs and host govt.

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40
Q

Brand

A

recognizable name/term that differentiate from their competitions

generates brand loyalty

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41
Q

Brand nonrecognition(first)

A

get the brand out there, brand is not known

42
Q

Brand recognition

A

Consumer knows the brand, might buy depends on sale

43
Q

Brand preferences

A

Customers prefer that brand, but will buy sub if brand is not available

44
Q

Brand insistances

A

Customer intend to buy only that brand, company controls distribution

Customer will come back only two times, but not a 3rd if product is not abailable

45
Q

Global brand

A

Same brand all over the place

46
Q

Genertic brand

A

Nonbranded product, low ses or developing countries

Sometimes better than regular brand

47
Q

Store/private brand

A

Distribution channel brand products specific to the store

48
Q

Maximazation profit

A

price product that the highest possible price you can get away with

specialty goods

49
Q

Acceptable/Satisfactory

what most company uses

A

make enough to cover cost + some proft

ROI are similar in industry

50
Q

Volume pricing

A

just move product, not interest in profit

eliminates past season product for new season

51
Q

Status quo/competitive pricing

A

price product the same as the competition/market

No thought about costing structure

52
Q

Price skimming

A

high upfront price(max profit first then come down)

limited cokmpetition, cost of differentiatoin, early adopters

53
Q

Penetration pricing

A

low price, tries to get into new market segment or move inventory

buy market share, competition

54
Q

Companion product pricing

A

two or more product placed together

shampoo + toothpaste

55
Q

Design to cost pricing( not cost based)

A

what the cusomter can afford, only cost you can charge

usually in undeveloped or emerging market

56
Q

Incoterms(International commerical terms)

E-term

A

Buyer takes title at seller location

get the product at the seller location

57
Q

Incoterms(International commerical terms)

D-terms

A

Buyer take title somewhere in their country

58
Q

Incoterms(International commerical terms)

F terms

A

Buyer takes title at the port side

59
Q

Incoterms(International commerical terms)

C terms

A

Buyer takes title on board

60
Q

Pricing structure/option

Same world wide

A

Same price everywhere(price to lo segment)

Give up on profit

61
Q

Pricing structure/option

Dual pricing(domestic and export)

A

one price for domestic, different price for foregin

62
Q

Pricing structure/option

Country/region by Country/region

A

Customer/market based

63
Q

Pricing options

Dumping

A

Selling below cost

64
Q

Pricing options

Transfer pricing

A

price transfer within the company since they’re so big

65
Q

Pricing options

Price fixing

A

an agreement between competitors to fix the price level, illegal in distribution

66
Q

Global market persepective

Macro view

A

country by country

67
Q

Micro view

A

Local segments of the country

68
Q

Global segments

A

Pluralization of consumption, corss border

same product everywhere

69
Q

MAPS

A

1) Measureable - can it be measured
2) Accessible - able to use distribution strucutre
3) Profitable - needs to make money
4) Stability

70
Q

High profit, high accessible

A

gold market

71
Q

high profit, low accesible

A

joint venture

72
Q

low profit, high accesible

A

bail, find another way into market

73
Q

low profit, low accessible

A

leave

74
Q

Consumer segmentation variables

Demographics

A

Measureable characteristics of consumer

age, gender, income, education, employment

75
Q

Consumer segmentation variables

Psychographic

A

Not measurable, attitudes, personality, and life style, culture

76
Q

Consumer segmentation variables

Behavior

A

How will they use the product

High users: keep them
Non-users: major introduction to the product

77
Q

Consumer segmentation variables

Benefit

A

Why they buy/use the product

78
Q

Consumer segmentation variables

Geographic considerations

A

weather, climate

79
Q

Industrial segementation variables

Geographic

A

Where are they located

80
Q

Industrial segmentation

Applications

A

how they use the product

81
Q

Industrial segmentation

Industry

A

Same rules in same nidustry

82
Q

Industrial segmentation

Technical levels

A

dictates behavior

83
Q

Industrial segmentation

Demographic

A

size of company, number of employee, money spent on product

84
Q

Undifferentiated(Standard global marketing)

A

Need to change lanugage, same strategy everywhere

85
Q

Differentiated(multi segment)

Multi national

A

Individual segments in each country

86
Q

Niche or focus

A

Small piece of a larger segment(Subset)

Use whene everyone usese the same mix,
provide something different than what the market gives

87
Q

Micro marketing

A

A segment of one customer

88
Q

Benefit of good channel distribution

Bring buyers and sellers together

A

Take title/ownership to product

89
Q

Benefit of good channel management

Specialization of labor

A

No one else will do the same job in a distribution channel
Subject matter expertise

90
Q

Benefit of good channel management

Standardized exchange transaction

A

Managed by industry
Makes distribution more efficent/smooth

91
Q

Direct distribution

A

Manufacturer goes directly to the end user

most company are doing direct since it’s less costly

92
Q

Indirect distribution

A

M -> W -> R -> EU

Thief can happen within these channel

93
Q

Variables that influence channel selection

Market/customers

A

Less customers = direct distribution
More customers = indirect distribution

Think about planes

94
Q

Variables that influence channel selection

Product

A

High end good = direct distribution
Low end good = indirect

95
Q

Variables that influence channel selection

Organizational factors

A

Do it better? less expensive? do it at all?

96
Q

Variables that influence channel selection

Competition

A

Keep eye on other competitors, keep being efficient

97
Q

Variables that influence channel selection

Availability

A

Only use what’s available

98
Q

Vertical Marketing Systems(VMS)

A

Planned channel system desgined to be effective and efficient

99
Q

Types of VMS

Corporate

A

One company own the whole VMS/ distribution channel

100
Q

Types of VMS

contractual

A

Contract with everyone

Con: No flexiblity
Pro: Everyone knows what the do

101
Q

Types of VMS

Administered(bully)

A

Someone that slaps everyone else in the distribution channel

Walmart

102
Q

Expats

A

Sending domestic employee to foregin countries to work

Usually fail:
- Due to Family pressure to come back
- Domestic worker outlive your stay
- No preparation/training from company about the country

International Marketing (3 decks)

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