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MKTG 411 EXAM 3

Terms in this set (14)

Dual Extension
same promotion, same product
Product Extension
The same product is often used to offer benefits or functions that dramatically differ from those in the home market
product adaptation
adapting a product to meet local conditions or wants in foreign markets with extending the basic home-market communications strategy or brand name
product adaption
both the product and 1 or more promotional elements are adapted for a particular county or region
product invention
creating new products or services for foreign markets
Ex Works (EXW)
Buyer takes delivery at the premise of the seller and bears all the risk and expenses from that point
Delivery Duty Paid (DDP)
seller agrees to deliver the goods to the buyer at the place he or she names in the country of import with all costs, including duties, paid
Free on Board (FOB)
seller's responsibility and liability does not end until goods have actually cleared the ships rail at the point of origin
Cost, Insurance, Freight (CIF)
named port of destination - risk of loss or damage of goods is transferred to buyer once goods have passed the ship's rail
Digital Revolution
a paradigm shift resulting from technological advances that allow for the digitization of analog sources of information, sounds, and images
Convergence
the coming together of previously separated industries and products
disruptive technologies
-Redefine performance
-New entrants to an industry
-Enable something to be done that was previously deemed impossible
-Enable new markets to emerge
global ecommerce
the general exchange on goods and services using the internet or a similar online network as a marketing channel
Social Media Marketing
utilization of social media or social networks to market a product, company, or brand
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