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International Marketing
Final
78
Marketing
Undergraduate 4
12/18/2012

Additional Marketing Flashcards

 


 

Cards

Term

Advertising regulations regarding children

Definition
Many countries restrict companies from the content of advertisements toward children. Some even prohibit the direct advertising to children all together.
Term

“Americans”

Definition
Term

Bottom of the pyramid

Definition
• These consist of the 4 billion people around the world with incomes of $1,200 or less per capita.
• They are not necessarily defined by national borders, but are rather pockets of poverty particularly concentrated in south Asia and sub-Sahara Africa.
Term

Branding, global brands

Definition
a name, term, sign, symbol, or design or a combination of them, intended to identify the goods or services or one seller form those competitors
Term

relative advantage

Definition
How is it better than other alternatives?
Term
Compatibility
Definition
Is it congruent with the customers' lives, culture, usage patterns, and ways of thinking about a product or need.
Term

complexity

Definition
Is it difficult to understand?
Term
trialability
Definition

can the customer try it out? How risky is it to try? Expensive? Breakable?

Term
observability
Definition
Does the customer have the ability to see others using the product? Reference use groups?
Term

CIF (Cost, insurance, and freight)

Definition

tariffs are levied on freight, invoice fees, port fees, insurance, documentation to arrive at CIF

Term

Communications model

Definition

  • Source
  • Encoding= symbols, words, themes
  • Message= in message channel
  • Decoding= what can customer understand, what meaning is taken
  • Receiver= who gets the message
  •  Noise= interference
  • Feedback= attitude, purchase, loyalty, complaint

 

 

 

 

 

 

Term
Core product
Definition
What is the physical product?
Term

Packaging

Definition

package, trademark, logo, price, quality, labelling requirements

Term

service components

Definition

repair, installation, instructions, spare parts

Term

Counterarguing

Definition
Consumers form opinions that disagree with company messages.
Term

Countertrade

Definition

 a type of transaction in which goods are imported and sold by a company from a country in exchange for the right or ability to manufacture and/or sell goods in that country

Term

Country of origin

Definition
a way to differentiate the product from the competitors
Term

Currency devaluation – product strategies at POS

Definition

reduction in value of one currency compared to others

Term

Customs union

Definition

a stage in economic cooperation that benefits from a free trade area’s educed or eliminated internal tariffs and adds a common external tariff on products imported from countries outside the union

Term

Cultural empathy

Definition

awareness and understanding of a culture's characteristics, beliefs and values

Term

Decoding

Definition
Term
Congruent Innovations
Definition

no disruption of behaviors (adding another flavor or size)

Term
Continuous Innovation
Definition

some slight change in behavior is likely; product improved

Term
Dynamically Continuous Innovation
Definition

old behaviors must change, learning required.

Term
Discontinuous Innvation
Definition

a total break with what is known, previously unknown product

Term
Direct Exporting
Definition

a company sells to a company in another country

Term
Indirect Exporting
Definition

a company sells to a buyer (an importer or distributor) in the home country, the buyer in turn exports the product

Term
Emerging Markets
Definition
Term
Euro
Definition
Term
Free Trade Area
Definition

a type of regional cooperation that involves an agreement between 2+ countries to reduce or eliminate customs duties and nontariff trade barriers among partner countries while members maintain individual tariff schedules for external countries

Term
FDA
Definition

Food & Drug Administration

Term
Foreign Production
Definition
Term
FOB
Definition

Free on Board: time period when title passes from buyer to seller, often on board a method of transit i.e. a ship 

Term
FTC
Definition

Federal Trade Commission: an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act. Its principal mission is the promotion of consumer protection and the elimination and prevention of anti-competitive business practices, such as coercive monopoly.

Term
Global Brands
Definition
Term
Gray Market Goods
Definition

parallel market,[1] is the trade of a commodity through distribution channels which, while legal, are unofficial, unauthorized, or unintended by the original manufacturer.

Term
Black Market Goods
Definition

market in which illegal goods are traded. Due to the nature of the goods traded, the market itself is forced to operate outside the formal economy, supported by the established state power

Term
Big Emerging Markets Classification
Definition

¨     More-developed country (MDC)

¨     Less-Developed country (LDC)

¨     Least-Developed Country (LLDC)

¨     Newly- Industrialized Countries (NIC)

§  Countries that are experiencing rapid economic expansion and industrialization

§  Do not exactly fit as LDC or MDC

§  Have moved away from restrictive trade practices

§  Instituted significant free market reforms

Term
Indicators of standards of Living
Definition

population, GDP/capita, doctors, hospital beds, color TV, refrigerator, shower 

Term
Indirect Importing
Definition
Term
Individualism (in relation to sales)
Definition
Term
Collectivism (In relation to sales)
Definition
Term
Infrastructure
Definition
Term
Keiretsu
Definition

set of companies with interlocking business relationships and shareholdings

Term
Letter of Credit
Definition
Term
Literacy Rates
Definition
Term
Consumer Literacy
Definition
Term
Numeracy
Definition
Term
Local Advertising
Definition
Term
Local Content
Definition
Term
Made in the USA
Definition
Term
Market Potential
Definition
how good the market can be for that company/industry in other countries
Term
Market Entry Methods
Definition
• Home Market Production

o Indirect export
o Direct export
o Trading company
o Foreign Distributor
o Export Mgmt Company
o Agent
o Cooperative methods
o Overseas marketing subsidiary
• Foreign Production

o Contract Manufacturer
o Licensing
o Assembly
o Join venture
o 100% ownership
Term
Measures of Economic Development
Definition
Incorporates measuring states of human welfare
Term
Microfinancing
Definition

the provision of financial services such as loans, savings, insurance, and training to people living in poverty. It is one of the great success stories in the developing world in the last 30 years and is widely recognized as a just and sustainable solution in alleviating global poverty

Term
Multinational Markets
Definition
Term
NAFTA
Definition

North American Free Trade Agreement= a comprehensive trade agreement that addresses, and in many cases improves all aspects of doing business within North America.  By eliminating trade and investment barriers among Canada, the United States, and Mexico, it created one of the largest and richest markets in the world

Term
Parallel Imports
Definition

International transactions in which importers buy products from distributors in one country and sell them in another to distributors that are not part of the manufacturer’s regular distribution system

Term
Pattern Advertising
Definition

using a standard message with local variations; i.e. coca cola

Term
Penetration Pricing
Definition

a low price policy directed at gaining market share from competitors

Term
Political Union
Definition

a fully integrated form of regional co-operation that involves complete political and economic integration, either voluntary of enforced; the most notable example was the now disbanded Council of Mutual Economic Assistance (COMECON), a centrally controlled group of countries organized by the Soviet Union

Term
Power/Distance
Definition
Strength of Social Heirarchy
Term
Product Adaptation
Definition

companies adapt their product to the culture and values of the country being entered (changes by country)

Term
Product Standardization
Definition

consistent product in all markets (the same)

Term
Price Escalation
Definition

the pricing disparity in which goods are priced higher in a foreign market than in the home market; caused by the added costs involved in exporting products from one country to another

Term
Product Concept Test
Definition
Stage in product development process where a detailed description of a product (and of its attributes and benefits) is presented to prospective customers or users, to assess their attitudes and intentions toward the product.
Inexpensive
Term
Product Package Adaptations
Definition

tall slim soda cans, bottle with marble, etc…

Term
Promotion
Definition

communication to persons across cultures, while taking into similarities and differences in: learned meaning, verbal/pictorial/symbolic/idiomatic languages, appropriate/inappropriate roles and situations, humor/fear/comparison/education

Term
Ringi-sho
Definition

Japanese decision making document; an approval/signature document that Japanese employees create to obtain approval for new projects, expenditures, or process changes.

Term
Sales Promotion
Definition

Marketing activities that stimulate consumer purchases and improves retailer or middlemen effectiveness and cooperation

Term
Skimming Prices
Definition

a method of pricing, generally used for foreign markets, in which a company seeks to reach a segment of the market that is relatively price insensitive and thus willing to pay a premium price for the value received; may be used to sell a new or innovative product to maximize profits until a competitor forces a lower price

Term
Spaza
Definition

convenience store in an under developed country

Term
Standards of Living
Definition

the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area.

Term
Standardized Advertising
Definition
Ad that is used internationally with virtually no change in its theme, copy, or illustration.
Term
Story Board
Definition

outline/scenes in a promotion or commercial for a product either on TV, radio, or print advertising

  • graphic organizers in the form of illustrations or images displayed in sequence for the purpose of pre-visualizing a motion picture, animation, motion graphic or interactive media sequence

Term
Supply Chain
Definition

a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered to the end customer.

Term
Triple Bottom Line
Definition

measures the company's economic value, "people account" – which measures the company's degree of social responsibility and the company's "planet account" – which measures the company's environmental responsibility

Term
Women's Acceptability in some cultures
Definition
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