Global Guides d'étude, Notes de cours & Résumés

Define Global Marketing: - -Identifying the needs and wants of customers in different markets and cultures, providing a product or service to them. -The goal of global marketing is to: - -Give the firm a competitive marketing advantage, communication about the products and services, and exchanging them internationally. -Global marketing is a ______ response to the intertwined nature of business opportunities. - -Proactive.

2 Examples of Global Marketing blunders - --Home Depot in China -Barbie store in China -4 Factors when Assessing External Environments in Global Markets - --Economic Analysis -Infrastructure and Technological Capabilities -Government Actions -Sociocultural Factors

Value Equation ( first principle of marketing) - -Benefits/Price ( money,time,effort) -Focus ( Second Principle of marketing) - -The concentration or attention of a core business or competence. -Competitive Advantage ( third principle of marketing) - -When a company succeeds in creating more value for customers then its competitors do -Standardization - -The more standardized (globalized), the lower the cost and the weaker the market penetration -Localization - -The more adapted (loc...

Contract Manufacturing - -A licensing arrangement in which a global company provides technical specifications to a subcontractor or local manufacturer. -Franchising - -A contract between a parent company franchisor and franchisee that allows the franchisee to operate a business developed by the franchisor in return for a fee and adherence to franchise-wide policies and practices. This is an appropriate entry strategy when barriers to entry are low yet the market is culturally distant in terms...

Agents - -Representatives of a given enterprise. -Developing Country - -a country in which the society is less modern and less industrialized and in which inhabitants are generally poorer than they are in developed countries -Dumping - -Pricing a product sold in a foreign market below the cost of producing it or at a price lower than in its domestic market.

Corporate planning - -the formulation of long-term, generalized goals for an enterprise as a whole -strategic planning - -a type of planning conducted at the highest levels of management, dealing with products, capital, and research and the long- and shot term goals of a company. -tactical planning - -a type of planning that pertains to specific actions and to the allocation of resources used to implement strategic planning foals in specific markets; also known as market planning; generall...

Globalization - -process by which goods, services, capital, people, information, and ideas flow across national borders -trade deficit - -results when a country imports more goods than it exports -trade surplus - -results when a country exports more than it imports -gross domestic product (GDP) - -defined as the market value of the goods and services produced by a country in a year; the most widely used standardized measure of output

Balance of Trade = - -difference between a nation's imports & its exports, in monetary terms SURPLUS when exports > imports DEFICIT when imports > exports -Emerging Markets = - -countries in the process of rapid growth & industrialization

Accessibility - -refers to the ability to communicate with the target market. -Actionability - -refers to the requirement that the market should respond to the marketing strategies used. -Applications/use positioning - -the marketing of a precise product application that is differentiated in the consumers' minds from other product that have a more general use.

Back translation - -the translation of translated text back into its original language, by a different individual, to ensure that the instrument has been translated as intended. -Buyer behavior research - -research involves the study of attitudes and preferences -Causal research - -research that examines cause-and-effect relationships -Competitive Pricing Analyses - -determine the price the market will bear for the respective product category.