MKT-305 Exam queries and answers
well graded 100%
Target Market - ANS✅✅one or more specific groups of potential consumers toward which an
organization directs its marketing program
International levels of Involvement - ANS✅✅Lowest to most involvement
Export Trading Company
Export Managing Company
Franchising
Licensing Defined
Contract Manufacturing
Foreign Direct Investment
Export Trading Company - ANS✅✅-Selling directly to ETC
-ETC takes ownership of the product and sells it how it desires, possibly even rebranding the product
Export Managing Company - ANS✅✅-Serves as Business Consultant like Realestate broker
-Makes money by a consulting fee
Franchising - ANS✅✅A contractual agreement between a franchisor and a franchisee that allows
the franchisee to operate a business using a name and format developed and supported by the
franchisor.
Sends a percentage back- royalties
Licensing Defined - ANS✅✅A contractual agreement between licensor and licensee that allows the
licensee to produce products using the licensors name, technology, work methods, patents,
copyrights or trademarks
Contract Manufacturing (Outsourcing) - ANS✅✅A joint venture in which a company contracts with
manufacturers in a foreign market to produce its product or provide its service
, Foreign Direct Investment - ANS✅✅Investment made by a foreign company in the economy of
another country.
Joint Ventureship - ANS✅✅Investors pair with company to set up on foreign soil
Wholly Owned Subsidiary - ANS✅✅a fully operational, independent entity that a firm sets up in a
foreign country to conduct business in that market
Nationalization - ANS✅✅takeover of property or resources by the government, foreign ownership
is nullified with no repercussions
Environmental Scanning - ANS✅✅the process of continually acquiring information on events
occurring outside the organization to identify and interpret potential trends
Environmental Analysis - ANS✅✅The process of assessing and interpreting the information
gathered through environmental scanning
SWOT analysis - ANS✅✅strengths, weaknesses- internal strategy
opportunities, threats- external stratedgy
External Environment - ANS✅✅the uncontrollable elements outside an organization that may
affect its performance either positively or negatively, very important to take into consideration
External Environmental Factors - ANS✅✅social/cultural, economic, technological, political,
competitive
marketing strategy - ANS✅✅Internal Strategy that includes; target market + Positioning + the 4 p's
The Marketing Mix or the 4 P's - ANS✅✅Product- Most important
Place- physical place you buy the product
Promotion- advertising, personal selling, sales promotion, public relations, direct mail
Price-Easily copied, worst to use to compete
well graded 100%
Target Market - ANS✅✅one or more specific groups of potential consumers toward which an
organization directs its marketing program
International levels of Involvement - ANS✅✅Lowest to most involvement
Export Trading Company
Export Managing Company
Franchising
Licensing Defined
Contract Manufacturing
Foreign Direct Investment
Export Trading Company - ANS✅✅-Selling directly to ETC
-ETC takes ownership of the product and sells it how it desires, possibly even rebranding the product
Export Managing Company - ANS✅✅-Serves as Business Consultant like Realestate broker
-Makes money by a consulting fee
Franchising - ANS✅✅A contractual agreement between a franchisor and a franchisee that allows
the franchisee to operate a business using a name and format developed and supported by the
franchisor.
Sends a percentage back- royalties
Licensing Defined - ANS✅✅A contractual agreement between licensor and licensee that allows the
licensee to produce products using the licensors name, technology, work methods, patents,
copyrights or trademarks
Contract Manufacturing (Outsourcing) - ANS✅✅A joint venture in which a company contracts with
manufacturers in a foreign market to produce its product or provide its service
, Foreign Direct Investment - ANS✅✅Investment made by a foreign company in the economy of
another country.
Joint Ventureship - ANS✅✅Investors pair with company to set up on foreign soil
Wholly Owned Subsidiary - ANS✅✅a fully operational, independent entity that a firm sets up in a
foreign country to conduct business in that market
Nationalization - ANS✅✅takeover of property or resources by the government, foreign ownership
is nullified with no repercussions
Environmental Scanning - ANS✅✅the process of continually acquiring information on events
occurring outside the organization to identify and interpret potential trends
Environmental Analysis - ANS✅✅The process of assessing and interpreting the information
gathered through environmental scanning
SWOT analysis - ANS✅✅strengths, weaknesses- internal strategy
opportunities, threats- external stratedgy
External Environment - ANS✅✅the uncontrollable elements outside an organization that may
affect its performance either positively or negatively, very important to take into consideration
External Environmental Factors - ANS✅✅social/cultural, economic, technological, political,
competitive
marketing strategy - ANS✅✅Internal Strategy that includes; target market + Positioning + the 4 p's
The Marketing Mix or the 4 P's - ANS✅✅Product- Most important
Place- physical place you buy the product
Promotion- advertising, personal selling, sales promotion, public relations, direct mail
Price-Easily copied, worst to use to compete
