Ch 16 Global Marketing and Research and Development

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  1. Marketing Mix
    Choices about product attributes, distribution strategy, communication strategy, and pricing strategy that a firm offers its targeted markets
  2. Market Segmentation
    Identifying groups of consumers whose purchasing behavior differs from others in important ways
  3. Intermarket Segment
    Segment of customers that spans multiple countries, transcending national borders
  4. Concentrated Retail System
    Few retailers supply most of the market
  5. Fragmented Retail System
    There are many retailers, no one of which has a major share of the market
  6. Channel Length
    Number of intermediaries that a product has to go through before it reaches the final customer
  7. Exclusive Distribution Channel
    Outsiders find difficult to access
  8. Channel Quality
    Expertise, competencies, and skills of established retailers in a nation and their ability to sell and support the products of international businesses
  9. Source Effects
    Effects that occur when the receiver of the message (i.e. a potential consumer) evaluates the message on the basis of status or image of the sender
  10. Country of Origin Effects
    Subset of source effects, or the extent to which the place of manufacturing influences product evaluations
  11. Noise
    Amount of other messages competing for a potential consumer's attention
  12. Push Strategy
    Personal selling rather than mass media advertising
  13. Pull Strategy
    Mass media advertising as opposed to personal selling
  14. Price Elasticity
    Measure of how responsive demand for a product is to changes in price
  15. Elastic
    Small change in price produces a large change in demand
  16. Inelastic
    When a large change in price produces only a small change in demand
  17. Strategic Pricing
    • Concept containing 3 aspects:
    • 1. Predatory pricing
    • 2. Multipoint Pricing
    • 3. Experience curve pricing
  18. Predatory Pricing
    Reducing prices below fair market value as a competitive weapon the driver weaker competitors out of the market ("fair" being cost plus some reasonable profit margin)
  19. Multipoint Pricing
    Occurs when a pricing strategy in one market may have an impact on a rival's pricing strategy in another market
  20. Experience Curve Pricing
    Aggressive pricing designed to increase volume and help the firm realize experience curve economies
  21. International Market Research
    Systematic collection, recording, analysis, and interpretation of data to provide knowledge that is useful for decision making in a global company
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Ch 16 Global Marketing and Research and Development
2017-03-24 02:10:48
business terms

Ch 16 business terms
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