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IB 395 "International Marketing" Exam 2
Terms in this set (106)
An organization's processes for creating, storing, exchanging, using, and managing information.
(Management Information Systems)
A system that provides managers and other decision makers with a conscious flow of information about company operations.
An electronic system that allows authorized company personnel or outsiders to share information electronically in a secure fashion while reducing the amount of paper generated.
(Electronic Data Interchange)
An MIS tool that allows a company's business units to submit orders, issue invoices, and conduct business electronically with other company units as well as with outside companies.
(Efficient Consumer Response)
An MIS tool that enables retailers to work more closely with vendors to facilitate stock replenishment.
(Electronic Point of Sale)
Purchase data gathered by checkout scanners that help retailers identify product sales patterns and the extent to which customers preferences vary with geography.
Radio Frequency Identification
(Customer Relationship Management)
The process of storing and analyzing data collected from customer "touch points" for the purpose of identifying a firm's best customers and serving their needs as efficiently, effectively, and profitably as possible.
A database, part of a company's MIS, that is used to support management decisions.
The project-specific, systematic gathering of data in the search scanning mode.
Global Market Research
The project-specific authoring and analysis of data on a global basis or in one or more markets outside the home country.
In marketing research, data gathered through research pertaining to the particular problem, deception, or issue under study.
An undiscoverable market segment in which demand for a product would materialize if an appropriate product were offered.
A market in which demand will materialize if particular economic, demographic, political, or sociocultural trends continue.
Primary data collection via questionnaire-based studies designed to generate qualitative responses, quantitative responses, or both.
Primary data collection via interactive communication (telephone, face-to-face...) that allows interviewers to ask "why"-typed questions.
Primary data collection using a sample of consumers or households whose behavior is tracked over time; frequently used for television audience measurements.
A method of primary data collection using trained observers who watch and record the behavior of actual or prospective customers.
Primary data collection method involving a trained moderator who facilitates discussion among the members of a group at a specially equipped research facility.
A sales promotion technique that provides potential customers with the opportunity to try a product or service at no cost.
In market research, a computerized quantitative data analysis technique that is used to perform data reduction. Responses from questionnaires that contain multiple items about a product's benefits serve as input; the computer generates factor loadings that can be used to create a perceptual map.
In marketing research, a quantitative data analysis technique that groups variables into clusters that maximize within-group similarities and between-group differences. Can be used in psychographic segmentation.
In market research, a quantitative data analysis technique that can be used to create perceptual maps. MDS helps marketers gain insight into consumers perceptions when a large number of products or brands are available.
In market research, a quantitative data analysis technique that can be used to gain insights into the combination of product features that will be attractive to potential buyers.
Global market research that analyzes a country from an outside perspective.
Global market research that analyzes a country in terms of its local systems of means and values.
An effort to identify and categorize groups of customers and countries according to common characteristics.
The process of evaluating market segments and focusing marketing efforts ton a country, region, or group of people.
The act of differentiating a product or brand in the mind of consumers or prospects relative to competing products or brands.
Positioning by Attribute or Benefit
A positioning strategy that seeks to differentiate a company, product, or brand in terms of one or more specific benefits ( i.e. reliability) offered to buyers.
Positioning by Competition
A positioning strategy that seeks to differentiate a company, product, or brand by comparing it to the competition.
Positioning by Quality/Price
A positioning strategy that seeks to differentiate a company, product, or brand in terms of expensiveness/exclusivity, acceptable quality/good value, etc.
Positioning by Use or User
A positioning strategy that seeks to differentiate a product by associating it with users whose expertise or accomplishments potential buyers admire.
Global Marketing Segmentation
The process of identifying specific segments of potential customers with homogeneous attributes who are likely to exhibit similar buying behavior irrespective of their countries of residence.
The process of segmenting markets on the basis of measurable characteristics such as country, income, population, age, or some other measure.
A global market segment comprised of persons 12-19 years old whose shared interests in fashion, music, and youthful lifestyle issues shape purchase behavior.
A global market segment comprised of well-traveled, affluent, consumers who spend heavily on prestige or luxury products and brands that convey an image of exclusivity.
The process of assigning people to market segments on the basis of their attributes, interests, opinions, and lifestyles.
The process of performing market segmentation utilizing user status, usage rate, or some other measure of product consumption.
In behavioral market segmentation, an assessment of the extent to which a person uses a product or service.
In behavioral marketing segmentation, an assessment of whether a person is a present user, potential user, nonuser, former user, etc.
In behavioral market segmentation, the rule of thumb that 20 percent of a company's products or customers account for 80 percent of revenues or profits.
The process of segmenting markets on the basis of the benefits sought by buyers.
Marketing Model Drivers
Key elements or factors that must be taken into account when evaluating countries as potential target markets.
Structural market characteristics whose presence or absence can determine whether the marketing model can succeed.
Orthodox marketing wisdom suggesting that the first company to enter a country market has the best chance of becoming the mart leader.
Standardized Global Marketing
A target market strategy that calls for creating the same marketing mix for a broad mass market of potential buyers.
A single segment of the global market.
Differentiated Global Marketing
A strategy that calls for targeting two or more distinct market segments with multiple marketing mix offerings.
A marketing strategy that entails targeting two or more distinct market segments with multiple marketing mic offerings.
(Global Consumer Culture Positioning)
A positioning strategy that seeks to differentiate a product, brand, or company as a symbol of, or association with, a global culture or a global market segment.
(Foreign Consumer Culture Positioning)
A positioning strategy that seeks to differentiate a product, brand, or company by associating it with its country or culture of origin.
(Local Consumer Culture Positioning)
A positioning strategy that seeks to differentiate a product, brand, or company in terms of its association with local culture, local production, or local consumption.
Exporting using the product offered in the home market as a starting point and modifying it as needed to meet the preferences of international target markets.
Exporting without tailoring the product, the price, or the promotional material to suit individual country requirements.
A gathering of company representatives organized around a product, a group of products, or an industry, at which company personnel can meet with prospectives customers and gather competitor intelligence.
A state- or federally sponsored show outside the home country organized around a product, a group of products, an industry, or an activity at which company personnel can learn about new markets as well as competitors.
The rules, rate schedules (duties), and regulations of individual countries affecting goods that are imported.
NonTariff Barriers (NTB)
Any restriction besides taxation that restricts or prevents the flow of goods across borders, ranging from "buy local" campaigns to bureaucratic obstacles that make it difficult for companies to gain access to some individual country and regional markets.
A reduced tariff rate applied to imports from certain countries.
Government-imposed limit or restriction on the number of units or the total value of the a particular product or product category that can be imported.
(Foreign Sales Corporations)
Provision in the U.S. tax code that allows American exporters to exclude 15% of international sales from reported earnings.
(Common Agricultural Policy)
Legislation adopted by European countries after WWII to avoid and protect the interests of farmers.
Direct or indirect financial contributions or incentives that benefit producers.
Special Economic Zones
A geographic entity that offers manufacturers simplified customers procedures, operational flexibility, and a general environment of relaxed regulations.
(Harmonized Tariff System)
A system in which importers and exporters have to determine the correct classification number for a given product or service that will cross borders.
A schedule of duties in which the rate applies to imports from all countries on the same basis; the simplest type of tariff.
General duties plus special duties indicating reduced rates determined by tariff negotiations with other countries.
(Normal Trade Relations)
A trading status under World Trade Organization (WTO) rules that entitles a country to low tariff rates.
Duties imposed on products whose prices government officials deem too low.
Additional duties levied to offset subsidies granted in the exporting country.
Foreign Purchasing Agents
Purchasing agents who operate on behalf of, and are compensated by, an overseas customers.
A broker who receives a fee for bringing together the seller and the overseas buyer.
Merchants who seek out needs in foreign markets and make purchases in world markets to fill these needs.
Export Management Companies (EMC)
Term used to designate an independent export firm that acts as the export department for more than one manufacturer.
Manufacturer's Export Agents (MEA)
One who can act as an export distributor or as an export commission representation.
An individual or organization that has the exclusive right to sell a manufacturer's product in all or some markets outside the country of origin.
Export Commission Representatives
Representative assigned to all or some foreign markets by the manufacturer.
An exporter organization of a manufacturing company retained by other independent manufacturers to sell their products in some or all foreign markets.
Specialists in traffic operations, customs clearance, and shipping tariffs and schedules.
Pro Forma Invoice
A document that sets an export/import transaction into motion. The document specifies the amount and the means by which an exporter-seller wants to be paid; it also specifies the items to be purchased.
(Letter of Credit)
A payment method in export/import in which a bank substitutes its creditworthiness for that of the importer-buyer.
Bill of Exchange
A payment instrument that transfers all the risks of non-payment onto the exporter-seller.
A strategic decision that determines whether a company makes a product itself or buys products from other manufacturers as well as where it makes or buys its products.
Shifting jobs or work assignments to another company to cut costs. When the work moves abroad to a low-wage country such as India or China, then the term offshoring is sometimes used.
The manner in which company management decides to purse market opportunities outside the home country.
A contractual market-entry strategy whereby one company makes an asset available to another company in exchange for royalties or some other form of compensation.
A licensing arrangement in which a global company provides technical specifications to a sub-contractor or a local manufacturer.
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 of consumer behavior or retailing structures.
(Foreign Direct Investment)
The market-entry strategy in which companies invest in or acquire plants, equipment, or other assets outside the home country.
A market-entery strategy in which two companies share ownership of a newly created business entity.
A market-entery strategy that entails foreign direct investment in a factory, retail outlet, or some other form of new operations in a target country. Also known as greenfield operations.
Market-entry strategy involving foreign direct investment for the purpose of establishing partial ownership of a business.
Market-entry strategy involving foreign direct investment for the purpose of establishing 100% control of a business.
A partnership among two or more firms created to minimize risk while maximizing leverage in the marketplace.
Strategic International Alliances
A form of mutually beneficial collaboration among two or more companies doing business globally. The goal is to leverage complementary resources and competencies in order to achieve competitive advantage.
(Global Strategic Partnerships)
A sophisticated market-entery via an alliance with one or more business partners for the purpose of serving the global market.
In Japan, an enterprise alliance consisting of businesses that are joined together in mutually reinforcing ways.
In South Korea, a type of corporate alliance group composed of dozens of companies and centered around a central bank or holding company and dominated by a founding family.
Market Expansion Strategies
The particular combination of product-maret and geographic alternatives that management chooses when expanding company operations outside the home country.
Country and Market Concentration
A market expansion strategy that involves targeting a limited number of customer segments in a few countries.
Country Concentration and Market Diversification
A market expansion strategy in which a company serves many markets in few countries.
Country Diversification and Marketing Concentration
A market expansion strategy whereby a company seeks out the world market for a product.
Country and Market Diversification
The corporate market expansion strategy of a global, multi business company.
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