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mar4156

Terms in this set (45)

difference between "regular" marketing and "global marketing
the scope of activities
marketing activities
center on an organizations efforts to satisfy custoemr wants and needs with products and services that offer competitive value
an organization that engages in global marketing
focuses its resources and competencies on global market opportunities and threats.
global marketing strategy adresses
first, the balance between a standardization approach and a localization approach that is responsive to country or regional differences. second, the concentration of marketing activites in a few countries or the dispersal of such activities across many countries
companies that engage in global marketing can also engage in
coordination of marketing activities
a firms global marketing strategy will adress the issue of
global market participation
value equation
value= benefits/price
value can be increased in two ways
1. an improved bundle of benefits
2. a lower price
globalization
the transformation of formerly local or national industries into global ones
global industry
an industry in which competitive advantage can be achieved by integrating and leveragining operations on a worldwide scale.
focus
the concentration of attention to the core business or competence (nestle)
two core issues of a firms GMS?
choosing a target market and devleoping a marketing mix
global market participation
the extent to which a company ahs operations in major world markets
standardization vs adaption
the extent to which each marketing mix element can be standardized (used the same way) or must be adapted (used in different ways) in different countries
concentration of marketing activities
the extent to which activities related to the marketing mix (such as pricing decisions) are preformed in one or only a few country locations
coordination of marketing activities
the extent to which marketing activites related to the mix are planned and executed interdependently around the globe
integration of competitive moves
the extent to which a firms competitive marketing tactics in differnt parts of the world are interdependent
global localization
think globally, act locally
four global management orientations
ethnocentric, polycentric, regiocentric, and geocentric
ethnocentric
assumes that his or her home country is superior to the rest of the world
polycentric
the opposite of ethnocentrism
regiocentric
a region becomes the relevant geographic unit
geocentric
views the entire world as a potential market and strives to develop integrated global strategies
worlds economies can be categorized as
market capitalism, centrally-planned capitalism, centrally planned socialism and market socialism
the variables considered in comiling rankings in economic freedom enjoyed include
trade policy, taxation policy, government consumption of economic output, monetary policy, capital flows, foreign invetsment, banking policy, wage and price controls, property rights, regulations, the black market
ranked first and second in economic freedom
hong kong and singapore
ranked last in economic freedom
cuba, laos and north korea
commonly used measures of economic development
gross domestic product, gross national income
stages of economic development
low income, lower middle income, upper middle income, and high income
BRIC countries
Brazil, Russia, India and China
most of worlds income located in the
triad, comprised of Japand, the USA and western europe
WTO provides
a forum for settling disputes among member nations and tries to set policy for world trade
Free trade areas represent
the lowest level of economic integration
purpose of free trade agreement
eliminate tariffs and quotas
rules of origin
used to verify the country from which goods are shipped
customs union
represents a further degree of integration in the form of common external tariffs
in a common market
restrictions on the movement of labor and capital are eased in an effort to further increase integration
an economic union
the highest level of economic integration is achieved by unification of economic policies and institutions
harmonization
the coming together of varying standards and regulations
culture
a societys "programming of the mind" has both a pervasive and changing influence on each national market environment
high context low context
US-low
Asian-High
adoption process
awarness-becomes aware
interest-interested enough to learn more
evaluation-mentall asseses products beliefs
trial-will not purchase without a trial
adoption-either makes or continues purchase
five factors affect the rate of adoption
relative advantage
compatibility
complexity
divisibility
communicability
adopter categories
2.5 innovators
13.5 early adopters
34 early majority
34 late majority
16 laggards
international law
comprimised of the rules and principles that nation-states consider binding upon themselves.
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