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| 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 |
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| Managments use of highly localized marketing programs in different country markets |
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| categories from the adaptation approach. Innovaters, early majority, late majority, and laggards. |
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| A shared sense within a culture of what is beautiful as opposed to ugly and what represents good taste as opposed to tastelessness |
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| A customs union comprised of Bolivia, Columbia, Ecuador, Peru, and Venezuela. |
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| A negotiation process between two or more parties o settle a dispute outside or the court system. |
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| Association of the Southeast Asian Nations (ASEAN) |
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| A trade bloc comprised of Thailand, Vietnam, Malaysia, etc. |
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| In culture, a learned tendency to respond in a consistent way to a given object or entity. |
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| The record of all economic transactions between the residents of a country and the rest of the world. |
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| behavioral market segmentation |
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Definition
| The process of performing market segmentation utilizing user status, usage rate, or some other measure of product consumption. |
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| In culture, an organized pattern or knowledge that an individual holds true to be about the world. |
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| The process of segmenting markets on the basis of the benefits sought by buyers. |
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| Big Emerging Markets (BEM) |
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Definition
| Countries that have experienced rapid economic growth and represent significant marketing opportunities. |
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| The right to buy a specified amount of a foreign currency at a fixed rate, up to the options expiration date. |
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| in a country's balance of payments, the record of all long term direct investment, portfolio investment, and other short and long term capital flows. |
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| A group of sepreate companies or countries that collectively control prices, control output, or take other actions to maximize profits. |
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| Centrally planned capitalism |
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Definition
| An economic system centrally characterized by command resource allocation ad state resource ownership. |
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| characteristics of innovations |
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Definition
| relative advantage, compatibility, complexity, divisibility, and communicability = the rate at which customers accept new products. |
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Definition
| in market research, a quantatative analysis technique that groups variables into clusters that maximize within-group similarities and between group differences. |
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| the extent to which group cohesiveness and harmony are emphasized in a culture. A shared concern for the well-being of all members of society is also evident. |
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| A country in which the legal system relies on past judicial decisions to resolve disputes. |
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| The result of a match between a firms distinctive competencies and the factors critical for creating superior customer value in an industry. |
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| concentrated global marketing |
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Definition
| The target market strategy that calls for creating a marketing mix to reach a niche segment of global consumers. |
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Definition
| Governmental seizure of a company's assets without compensation. |
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Definition
| In market research, a quantitative data anaylsis technique that can be used to gain insights into the combination of a product features that will be attractive to potential buyers. |
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| a society's ways of living are transmitted from one generation to another. Cultures manefestation include attitudes, beliefs, values, aesthetics, dietary customs, and language. |
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| a record of all recurring trade in merchandise and services, private gifts, and public aid transactions between countries. |
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Term
| customer relationship management (CRM) |
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Definition
| The process of storing and analyzing data collected from customer "touch points"for the purpose of identifying a firms best customers and serving their needs as efficiently, effectively, and profitably as possible. |
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Definition
| a database, part of a company's MIS, that is used to support management decision making. |
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Term
| differentiated global marketing |
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Definition
| a strategy that calls for targeting two or more distinct market segments with multiple marketing mix offerings. |
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Definition
| in environmental scanning, the reliance on immediate sensory input to supplement documentary information sources. |
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| a company that limits the geographic scope of its resource commitment and marketing activities to opportunities in the home country. |
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Term
| Efficient consumer response |
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Definition
| An MIS tool that allows retailers to work more closer with vendors to facilitate stock replenishment. |
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Definition
| global marketing research that analyzes a country in terms of its local system if meanings ad values. |
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Definition
| gathering information about global markets. Two modes can be used: surveillance and search. |
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| Environmental sensitivity |
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Definition
| A measure of the extent to which products must be adapted to the culture-specific needs of different country markets. |
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| A developmental framework for analyzing organizations in terms: ethocentric, polycentric, regiocentric, geocentric. |
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| The first level (ERPG) : the conscious or unconscious belief that one's home country is superior. |
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| global marketing research that analyzes a country from an outside perspective. |
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| governmental seizure of a company's assets in exchange for compensation that is generally lower than market value. |
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Definition
| a type of contract when the seller places goods at the disposal of the buyer at the time specified in the contract. |
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Definition
| a type of contract when the seller places goods at the disposal of the buyer at the time specified in the contract. |
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| the extent to which the social roles of men and women overlap in a culture. |
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| a mechanism for buying and selling currencies at a present price for future delivery. |
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| fourth level of ERRG: company should seek markets opportunities throughout the world, and notice similarities and differences. |
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| global consumer culture positioning |
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Definition
| seeks to differentiate a product, brand, or company as a symbol or, or associated with global market or segment. |
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Definition
| an industry in which competitive advantage can be achieved by integrating and leveraging operations on a world wide scale. |
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Definition
| an investment made to protect a company from possible financial losses due to fluctuating currency exchange rates. |
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