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Definition
| one in which competitive advantage can be achieved by integrating and leveraging operations on a worldwide scale. |
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| marketing based on the premise that products can be sold everywhere without adaptation |
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| assumes products must be adapted in response to different market conditions |
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| an economic system in which individuals and firms allocate resources and production resources are privately owned. |
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| Centrally planned socialism |
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Definition
| the state has broad powers to serve the public interest as it sees fit. "Top-down" decisions |
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| Centrally planned capitalism |
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Definition
| an economic system in which command resource allocation is utilized extensively in an overall environment of private resources ownership |
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Definition
| market allocation policies are permitted within an overall environment of state ownership. |
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| Preferential trade agreement |
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Definition
| is a mechanism that confer special treatment on select trading partners |
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| is formed when two or more countries agree to eliminate tariffs and other barriers that restrict trade |
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| in addition to eliminating internal barriers to trade members of a customs union agree to the established common external tariffs |
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Definition
| in addition to the removal of internal barriers to trade and the establishment of common external tariffs, the common market allows for free movement of factors of production including labor and capital |
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Definition
| building upon the elimination of internal tariff barriers, the establishment off common external barriers and the free flow of factors it seeks to coordinate and harmonize economic and social policy within the union to facilitate the free flow of capital, labor, and goods and services from country to country |
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| ways of living, built up by a group of human beings, that are transmitted from one generation to another |
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| the possibility of a change in a country's political environment or government policy that would adversely affect a company's ability to operate effectively and profitably |
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| one in which the legal system reflects |
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Definition
| many disputes are decided by reliance on the authority of past judicial decisions. Based on concept of precedent |
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Term
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Definition
| represents an effort to identify and categorize groups of customers and countries according to common characteristics. |
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Term
| Global market segmentation |
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Definition
| has been defined as the process of identifying specific segments- whether they be country groups or individual consumer groups- of potential customers with homogeneous attributes who are likely to exhibit similar responses to a company's marketing mix. |
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| Psychographic segmentation |
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Definition
| focuses on whether or not people buy and use a product, as well as how often and how much they use or consume. |
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Definition
| focuses on whether or not people buy and use a product, as well as how often and how much they use or consume |
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| duties to offset the impact of dumping and to penalize guilty companies. Dumping is the sale of merchandise in export markets at unfair prices. |
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Definition
| is defined as the actual individual transaction price paid by the buyer to the seller of the goods being valued. |
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Definition
| is expressed as a percentage of the value of goods |
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Definition
| management must decide which option or options to use in pursuing opportunities outside the home country |
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Term
| Product-communication extension strategy |
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Definition
| strategy to sell the same product with virtually no adaptation, using the same advertising and promotional appeals used domestically, in two or more country markets or segments. |
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Term
| Product extension-communication adaptation strategy |
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Definition
| the product itself is unchanged the researching the market and revising advertising sales promotion efforts, point of sale material and other communication elements are appropriate. |
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Term
| Product adaption-communication extension strategy |
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Definition
| adapt the product to local use or preference conditions while extending, without minimal change, the basic home market communication strategy or brand name |
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Term
| Product- communication adaptation strategy |
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Definition
| both the product and one or more promotional elements are adapted for a particular country or region |
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Definition
| an organized network of agencies and institutions that, in combination, perform all the activities required to link producers with users to accomplish the marketing task |
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Definition
| the availability of a product or service in a location that is convenient to a potential customer |
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Definition
| the availability of a product or service when desired by a customer |
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Definition
| the availability of a product processed prepared and in proper condition and/or ready to use |
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Definition
| the availability of answers to questions and general communication about useful products features and benefits. |
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Term
| Business-to-consumer marketing |
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Definition
| consumer channels are designed to put products in the hands of people for their own use. |
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Term
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Definition
| involves industrial channels that deliver products to manufacturers or other organizations that use them as inputs in the production process or in day-to-day operations. |
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Definition
| is a wholesale intermediary that typically carries product lines or brands on a selective basis. |
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Definition
| an intermediary who negotiates exchange transactions between two or more parties but does not take title to the goods being purchased or sold. |
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| model whereby individual consumers market products to other individuals. |
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Definition
| is any retailing activity that crosses national boundaries. |
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Definition
| literally have several departments under one roof, each representing distinct merchandise line and staffed with limited number of salespeople. |
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Definition
| offer less variety than department stores |
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Term
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Definition
| are departmentalized, single-store retail establishments that offer a variety of good and nonfood items, mostly on a self-service basis. |
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Definition
| offer some of the same products as supermarkets, but the merchandise mix is limited to high-turnover convenience and impulse products. |
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Definition
| can be divided into several categories but all emphasize low merchandise prices |
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Definition
| are a hybrid retailing format combining the discounter, supermarket, and warehouse club approaches under a single roof. |
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Definition
| offer a wide range of aggressively priced grocery items plus general merchandise in a space that occupies about half the size of a hypermarket. |
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Definition
| stores that specialize in selling vast assortments of a particular product category (toys or furniture) in high volumes at low prices. |
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Definition
| a variation on the traditional shopping mall: retail operations that allow companies with well-known consumer brands to dispose of excess inventory, out-of-date merchandise, or factory seconds. |
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Definition
| occurs when a company uses its own resources to open a store on a Greenfield site or to acquire one or more existing retail facilities from another company |
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Definition
| an appropriate entry strategy when barriers to entry are low yet the market is culturally distant in terms of consumer behavior or retailing structures. |
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Definition
| is a market entry strategy that entails purchasing a company with multiple retail location in a foreign country. |
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Term
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Definition
| used when entering markets this strategy helps lower risk when targeting unfamiliar or difficult-to-enter markets. |
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Definition
| includes all the firms that perform support activities by generating raw materials, converting them into components or finished products, and making them available to customer. |
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Definition
| the management process that integrates the activities of all companies both upstream and downstream to ensure an efficient flow of goods though the supply chain. |
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Definition
| refers to the practice of loading ocean-going freight into steel boxes measuring 20 feet, 40 feet, or longer. |
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| Intermodel transportation |
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Definition
| involves a combination of land and water shipping from producer to customer. |
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Term
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Definition
| describes the integration of activities necessary to ensure the efficient flow of raw materials, in-process inventory, and finished goods from producers to customers. |
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