Global Marketing exam (Questions with 100% error-free answers)

Market Penetration correct answers A marketing strategy defined by getting existing customers to buy more products that exist already. Market Development correct answers A marketing strategy defined by taking existing products into new markets Product Development correct answers A marketing strategy defined by developing new products and placing them into existing markets. Diversification correct answers A marketing strategy defined by developing new products for new markets. Marketing correct answers the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Global Marketing correct answers The scope of activities outside the home market Value Chain correct answers Marketing, along with all other functional business areas, create value for the customer Value Proposition correct answers Perceived value to the customer. The firm's promise to the customer. Creating value correct answers Improving the product or finding new distribution channels Creating value correct answers Create better communications, cut monetary and non-monetary costs and prices Value correct answers Benefits / Prices Market correct answers people and organizations that are both able and willing to buy. Globalization correct answers Integration of national economies into the international economy through trade, direct foreign investments, short-term capital flows, international flows of workers and humanity generally, and flows of technology. Competitive Advantage correct answers When a company succeeds in creating more value for customers than its competitors, that company is said to enjoy a ______ ______. Competitive Advantage correct answers measured relative to rivals in an industry