Term
| Business should be concernid with ethical..... |
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Definition
1. Firms need to worry about their legitamcy
2. Gvien that multinacional Corporation LMNC’s have accumulated knowledge about
products
3. MNC’s may find that they have to balance conflicting values and corporal values need to ensure that their employees in
4. All markets implement the abstract and vauable moral standards may hold
5. Economy idelogoy may also play a part in effecting ethical standards of a firm
6 Firms must make a dilligent effort to under moral principles which draw from ethical standards
markets
consumer behavior |
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Term
| Capitalism elecates the role of: |
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Definition
Consumption
Wealth accumulation
Right to private property |
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Term
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Definition
-judging behavior in terms of the costs and benefits to society
- suggest choosing actions that result in the greatest net Benedit or Powers market cost
it suggests choosing actions that resulte
in the greatest net Benedit or lowest costs |
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Term
| two school of utilization |
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Definition
1 teleological decision made in terms of the good done the largest number of people while minimizing harm for others
2 Deontological, the actions and results are not as important as respecting individual Rights |
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Term
| Rights and Justic for people |
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Definition
Are being whose eistence as racional individual should be promoted and everyone should be treated as a free person
- those who existente as racional individuals should proved and everyone should hate as a free person equal to everyone else.
-distribute justice
-compensating justice
-capitalism
-socialism |
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Term
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Definition
| approach can be used to achieve a fair distribution of society’s benefits and burdens |
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Term
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Definition
| hold that justice involves compensating for wrong done to the or for losses suffered |
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Term
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Definition
| assumes the benefits an individual recieves is proporcional to their contribution |
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Term
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Definition
| is based towards needs and distributes benefits according to need, while expecting people to work to their ability. |
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Term
| Caring for others and cultural differences |
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Definition
Ask the question: is this unethical to show special consideration for those whom they have a close relationship with
- Cultural differences will provide answers based on a given cultural attitute Howard favors collectivism over individualism. |
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Term
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Definition
Hypernorms are manifest, universal norms that represent principles so fundamental to human existente that they are reflected in a convergence of
-religious
-philosophical
-cultural beliefs |
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Term
| Integrative social contract |
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Definition
Integrative social contract
Suggests that in most local cultures, managers can apply ethical standards. Derixed from local context, including
-domestic firms
- industries
-porfesional associations
-other organizations |
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Term
| Global strategy and competing for market share |
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Definition
-requires that MNC’s (multinacional corporations) decide in whichmarket to compete, and then develop strategies and actions to win market share n those markets.
-an ethical problema arises when bibery is used to win Business and market share and to influence public officeals, consumer agencies and consumer Rights watchdogs. |
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Term
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Definition
| -is Money paid by companies to motivate public officials to do Jobs they already súpose to be doing. |
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Term
| Legal Regulations and Compliance |
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Definition
| -looks at nacional and suranational laws and regluations to clarify what constitues minimal ethical behavior and what may constrain the range of legal actions that a firm can undertake in its International operations. |
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Term
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Definition
| Means that a country can conduct its own affairs withouth interference from other goverments or the laws of any other country. |
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Term
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Definition
Stresses that businesses should work against corruption in all its forms, including extortion, and bribery.
Extortion- blackmail |
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Term
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Definition
| -sealed air’s code of conduct clearly states the company’s explicit ethical standard that goes beyond compliance with law. |
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Term
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Definition
| -particularly in emerging markets, often finds a firm or its agencies working with research samples and with underlying populations whose members may be less informed less educated and less powerful when compared with the foreign firm. |
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Term
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Definition
For foreign market suslay invovles product adaptation and sement idnetification
Frims have to decide whether to adapt their product for which segments they will adapt product and whtehr to develop entirely new products for those markets and segments |
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Term
| Segmentation and the poor |
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Definition
| Addresses the issue that marketers often avoid low end proudction because they offer slim margins. |
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Term
| Global manufacturing and the supply chain |
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Definition
| Management sees companies like MATTEL and other toy companies manufacture the bulk of their toys in china and other Asian countries. |
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Term
Good manufacturing practices
(GMP) |
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Definition
| to govern their overseas manufacturing practice and provides an ethical Framework to Project workers employes or subcontrators in chain Network and elsewhere. |
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Term
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Definition
Is often a problem because of high prices relative to incomes in specific markets.
Others pricing problems may include:
-Price fixing
-Unfair discounts
-Discriminatory discounts
-Premium pricing in poor neighborhoods |
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Term
| Ethical behavior and brand value |
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Definition
-are tied together because a brand’s reputation and strength can be hurt because of perceieved or real ethical missteps
- repreat parchases by brand-loyal customers provide the underpinning for brand equity and recurring income and profits. |
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Term
| International Distribution |
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Definition
-Often faces with restraint of trade as well as incluye pressure or channels to prevente discounting
- frims may argue that discounting undercuts their value based strategy
-in response to such channel and rpcining control smuggling and gray markets emerge. |
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Term
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Definition
| Arise when goods destined for a particular Geographic market are reverted to other markets sometimos through smuggling to meet the needs of the alternative markets. |
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Term
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Definition
-can be a problema because of a lack of cultural sensitivity that results in offending local morals and values.
- Other teacherous areas are false advertising, advertising to children and not respecting religious and other cultural values. |
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Term
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Definition
-is an issue when there are mutiple stakeholders
- corporations need guidance as to how to proiritize values
- the Copenhagen consensus Project has attempted to rank some of the society’s major problems and prioritize the problems base don the costs and benefits of developing Solutions, then ranking the Solutions base don what results in the greatest Benedit for the lease cost. |
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Term
| Chapter 11 international advertising and promotion |
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Definition
1 Integrated Marketing Communications
2 Promotion Tools
3 International promotional environment
4. Strategic Pormotion decisions
5 Other forms of promotion
6. Multinationals can do a number of things |
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Term
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Definition
| is the firms communication with its various audeience with a view to informand and influencing them |
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Term
| Marketing functions invovles... |
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Definition
Informing
Persuading
Influencing a purchasing decision. |
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Term
| The major categories of the promotional mix includes.... |
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Definition
Advertising
Personal selling
Public relations
Sales promotion |
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Term
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Definition
| the paid Communications of the company’s message thorugh an imperson media such as tv radio Internet magazine and billboards |
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Term
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Definition
| the paid Communications of a firm’s product but through people, the sales person to the potencial buyer of the product |
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Term
| Public relations is........ |
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Definition
| the unpaid Communications of the firm’s message to the public with the intente to create a good image fo the firm |
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Term
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Definition
includes other types of Communications not covered in one of the above categories
free sampe coupons,
sponsorship of events
check out point displays… |
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Term
| there are two sets of constraints placed on the firms International promoting strategy. |
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Definition
1 the internal situation of the company
2. The International environment |
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Term
| International promotional environment |
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Definition
-technical accuracy on perfect translations are insufficent when persuading someone to buy your product
-it must be the language of the heart or identical to the same understanding of the listeners
1 national personnel should be used to convey the message
2 the advertising agency utilizad should be located in the market |
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Term
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Definition
| Occurs when several countries use the same language |
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Term
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Definition
Following are specific limitiations
Some promotional activites are not avaliable or has limitations in some coutnries
The advertising message is restricted
A country may object to the size of the advertising Budget.
Some coutnries restrict the ownership of the ad agency to only nacional firms.
Certian products may not be advertisted and other prodcut restrict the media used |
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Term
| An International avertising agency |
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Definition
In selecting an ad agency to e itilized the fim will consider the following:
Market coverage
Quality of coverage
Market research
Compatibility with the firms
Communications control
International coordination
And the image to be projected |
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Term
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Definition
| In terms of volumen protion expenditures are highest in the United States. |
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Term
| Setting the advertising Budget |
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Definition
-percentage of sale approach is both the easiest and most use method.
This method determines the percentage of sales you can turn into a profit. For example knowing how much the materials are worth and setting the price accordingly so that it attracts customers but you make a profit at the same time.
-it has limitations, it should not be used when:
first entering a market
selling a new product in its line. |
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Term
| Competitive-parity approach- |
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Definition
-This is base on the assumption you know how much your competidor is spending.
- a disadvantage is that your rivals may be using the wrong amount. |
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Term
| ****What is an International market segment? |
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Definition
| Certain markets within a nation often have a counterpart in a number of other markets |
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Term
| The mass media consists of: |
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Definition
Tv
Magazines
Newspapers
Radio
Billboards
Internet |
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Term
| ***Advantages of advertising |
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Definition
-compared to other types of promotion is inexpensive per each contact. It reaches a large Group of potencial consumers for a relatively low price per exposure.
-it allows firms strict control over the final message.
- it can be adapted to either a mass audience such as tv, or specific audience such as advertising in a magazine with its segmented Readers.
-can be successfully used to create instant product awareness. |
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Term
| ***Disadvantage of advertising |
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Definition
-it doesnt provide achúrate or compete data on the results
- usually, unlike personal sales, cannot close a sale
- since it is non-personal the message is not personal. |
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Term
| Firms that do advertising should use: |
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Definition
-Simple language
-avoid complicated sentence structure
-use simple Graphics to help comunícate their message |
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Term
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Definition
-personal selling
-sales promotion
-publicity/public relations |
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Term
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Definition
-is a promotional presentation made persn o to person to a potencial buyer.
-why does it often take a greater percentage of the promotional Budget than advertising?
Restriction on advertising limit the amount the firm can spend
Low wages in many foreign countries allow the firm to hire a larger sales force. |
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Term
| Publicity and public relations |
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Definition
-Public relations are perhpas the most powerful of the promotional Tools.
- Public relations can raise a company’s reputation to new heights.
-Companies in their public relations/publicity campaigns in foreign countries should emphasis information about their firm and its products, always maintaining transparency in its operations. |
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Term
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Definition
| can do a number of things in their global markets |
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Term
| These are some of the postive actions they may take to create a better image of their firms: |
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Definition
1. maintain a high negree of local autonomy in decision making.
2. Retain some Earning in the host country
3. Allow and encourage exports.
4. Process the natural resources of the country locally.
5. Conduct R&D locally.
6. Search out and use local suppliers
7. Offer equity to nacional investors
8. Provide employment and career opportunites at all levels.
9. Maintain fair prices locally and in transfer pricing.
10. Provide information and transparency in company operations. |
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Term
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Definition
nonpersonal, sponsor-paid communication using mass media
pros and cons inexpensive nonperson contact (requires similar needs and fulfillments characteristics
conditions conductive to specific tools
big homogeneous and dispersed markets |
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Term
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Definition
sponsor-paid communication that is personal (one on one, or one on few)
pros and cons expensive but can be tailored to individual needs and the message can be changed quickly; immediate response but dependent on sales-person (inconsistent) skills
conditions conductive to specific skills expensive, new and instrial products in concentrated markets |
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Term
| Publicity (public relations) |
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Definition
nonpersonal, medium-paid communication using mass media
pros and cons
effective and persuasive but not easily controlled and effectiveness is difficult to measure
conditions conductive to specific tools
heavy brand switching price sensitive products with mass media appeal |
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