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Introduction to Global Marketing, Chapter 1, Summary
Terms in this set (20)
An organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
A company that engages in global marketing
Focuses its resources on global market opportunities and threats.
Marketing Mix Elements
Product, Price, Place, Promotion
Value Chain compriesed of
Marketing, R&D, manufacturing and other activities.
Firms configure the value chain activities
To create superior customer value on a global basis.
Value = Perceived Benefits / Price
Value Equation (Value = Perceived Benefits/Price) Expresses
The relationship between value and the marketing mix.
Global companies maintain strategic focus
While relentlessly pursing competitive advantage.
In a Global Industry, companies that fail
To pursue global opportunities risk being pushed aside by stronger global competitors.
Global Marketing Strategy
Addresses the nature of the marketing program in terms of standardized and localized approaches, and is the concentration of marketing activities in a few countries.
Global Marketing Strategy, which addresses the nature of the marketing program in terms of standardized and localized approaches, and is the concentration of marketing activities in a few countries.
Characterizes Domestic and International Companies
International Companies pursue
Marketing opportunities outside the home market by extending various elements of the marketing mix.
Predominates at a multinational company, where country managers operating autonomously adapt the marketing mix.
When management moves to integrate and coordinate on a regional basis
The decision reflects a regiocentric orientation.
Managers at global and transnational companies
Are geocentric in their orientation and pursue both extension and adaptation strategies in global markets.
Driving Forces include
Market needs and wants, technology, transportation and communication improvements, product costs, quality, world economic trends and a recognition of opportunities to develop leverage.
Companies develop Leverage
By operating globally
Restraining Forces Include
Market differences, management myopia, organizational culture, and national controls such as nontariff barriers.
Nontariff Barriers, which are one of the restraining forces.
THIS SET IS OFTEN IN FOLDERS WITH...
The Global Marketing Environment, Summary
An International Marketing Research Checklist
The Global Trade Environment, Chapter 3, Summary
When will China overtake America?
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