Term
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Definition
| Individuals or groups that purchase a specific kind of product for resale, direct use in producing other products, or use in general daily operations |
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Term
| The Four Business Markets |
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Definition
| producer, reseller, government, and institutional |
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Term
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Definition
| Individuals and business organizations that purchase products to make profits by using them to produce other products or using them in their operations |
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Definition
| Intermediaries that buy finished goods and resell them for profit |
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Term
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Definition
| Federal, state, county, or local governments that buy goods and services to support their internal operations and provide products to their constituencies |
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Definition
| Organizations with charitable, educational, community, or other non-business goals |
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Term
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Definition
| An arrangement unique to business marketing in which two organizations agree to buy from each other |
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Term
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Definition
| An initial purchase by an organization of an item to be used to perform a new job or solve a new problem |
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Term
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Definition
| A routine purchase of the same products by a business buyer |
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Term
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Definition
| A new-task purchase that is changed on subsequent orders or when the requirements of a straight rebuy purchase are modified |
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Term
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Definition
| Demand for industrial products that stems from demand for consumer products |
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Term
| Demand for business products (industrial demand) |
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Definition
| Can be characterized as derived, inelastic, joint, or fluctuating |
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Term
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Definition
| Demand that is not significantly altered by a price increase or decrease |
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Term
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Definition
| Demand involving the use of two or more items in combination to produce a product |
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Term
| Business (organizational) buying behavior |
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Definition
| The purchase behavior of producers, government units, institutions, and resellers |
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Term
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Definition
| The people within an organization who make business purchase decisions |
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Term
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Definition
| An evaluation of each component of a potential purchase |
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Term
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Definition
| A formal, systematic evaluation of each component of a potential purchase |
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Term
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Definition
| An Organization's decision to use several suppliers |
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Term
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Definition
| An organization's decision to use only one supplier |
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Term
| North American Industry Classification System (NAICS) |
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Definition
| An Industry classification system that generates comparable statistics among the United States, Canada, and Mexico |
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Term
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Definition
| Information that identifies what types of industries purchase the products of a particular industry |
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Term
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Definition
| Developing and performing marketing activities across national boundaries |
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Term
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Definition
| A duty levied by a nation in goods bought outside its borders and brought in |
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Term
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Definition
| A limit in the amount of goods an importing country will accept for certain product catagories in a specific period of time |
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Term
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Definition
| A government's suspension of trade in a particular product or with a given country |
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Term
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Definition
| Government restrictions on the amount of a particular currency that can be bought or sold |
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Term
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Definition
| The difference in value between a nations exports and its imports |
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Term
| Gross Domestic Product (GDP) |
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Definition
| The market value of a nation's total output of goods and services for a given period; an overall measure of economic standing |
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Term
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Definition
| The practice of charging high prices for products sold in domestic markets while selling the same products in foreign markets at low prices, often below the costs of exporting them |
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Term
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Definition
| The concept that morality varies from one culture to another and that business practices are therefore differentially defined as right or wrong by particular cultures |
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Term
| North American Free Trade Agreement (NAFTA) |
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Definition
| Merges Canada, Mexico, and the US into a single market |
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Term
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Definition
| An alliance that promotes trade among its member countries in Europe |
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Term
| Common Market of the Southern Cone (MERCOSUR) |
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Definition
| Alliance that promotes the free circulation of goods, services, and production factors, and has a common external tariff and commercial policy amoung member nations in South America |
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Term
| Asia-Pacific Economic Cooperation (APEC) |
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Definition
| An alliance that promotes open trade and economic and technical cooperation among member nations throughout the world |
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Term
| General Agreement on Tariffs and Trade (GATT) |
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Definition
| An entity that promotes free trade among nations to reduce worldwide tariffs and increase international trade |
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Term
| World Trade Organization (WTO) |
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Definition
| An entity that promotes free trade among member nations by eliminating trade barriers and educating individuals, companies, and governments about trade rules around the world |
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Term
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Definition
| The purchase of products from a foreign source |
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Term
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Definition
| the sale of products to foreign markets |
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Term
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Definition
| Marketing Strategies developed for the entire world (or more than one major region), with the focus on the similarities across regions and country markets |
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Term
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Definition
| Marketing strategies are developed for each major region, with the countries in the region being marketed to in the same way based on similarities across the region's country markets |
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Term
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Definition
| International markets are a consideration in the marketing strategy, with customization for the country markets based on critical differences across regions and country markets |
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Term
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Definition
| The firm develops no international marketing strategies, but international distributors, foreign firms, or selected customers purchase some of its products |
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Term
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Definition
| All marketing strategies focus on the market in the country of origin |
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Term
| The four levels of involvement in Global Marketing |
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Definition
| Regional, Multinational, Limited Exporting, Domestic Marketing |
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Term
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Definition
| A company that links buyers and sellers in different countries |
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Term
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Definition
| An alternative to direct investment requiring a licensee to pay commissions or royalties on sales or suppliers used in manufacturing |
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Term
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Definition
| A form of licensing in which a franchiser, in exchange for a financial commitment, grants a franchisee the right to market its product in accordance with the franchiser's standards |
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Term
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Definition
| The practice of hiring a foreign firm to produce a designated volume of the domestic firm's product or component of it to specification; the final product carries the domestic firm's name |
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Term
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Definition
| The practice of contracting noncore operations with an organization that specializes in that operation |
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Term
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Definition
| The practice of moving a business process that dine domestically at the local factory to a foreign country, regardless of whether the production accomplished in the foreign country is performed by the local company (in a wholly owned subsidiary) or a third party (subcontractor) |
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Term
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Definition
| The practice of contracting with an organization to perform some or all business functions in a country in which that product or service will be sold |
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Term
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Definition
| A partnership between a domestic firm and a foreign firm or government |
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Term
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Definition
| A partnership formed to create a competitive advantage on a worldwide basis |
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Term
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Definition
| A situation in which a company owns subsidiaries or other facilities overseas |
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Term
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Definition
| A firm that has operations or subsidiaries in many countries |
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Term
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Definition
| The way in which a firm divides its operations into separate functions and/or value-adding units and coordinates its activities |
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Term
| The Five Steps of the Marketing Research Process |
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Definition
| Locating and Defining Problems or Research Issues,Designing the Research Project,Collecting Data,Interpreting research findings, report research findings |
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Term
| Organizational Architecture |
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Definition
People
Process
Functions
Culture
Structure |
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Term
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Definition
| The development of marketing strategies that treat the entire world (or its major regions) as a single entity |
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Term
| Electronic commerce (e-commerce) |
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Definition
| Sharing business information, maintaining business relationships, and conducting business transactions by means of intercommunications networks |
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Term
| Electronic Marketing (e-marketing) |
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Definition
| The strategic process of creating, distributing, promoting, and pricing products for targeted customers in the virtual environment if the Internet |
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Term
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Definition
| Web-based journals in which people can editorialize and interact with other Internet users |
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Term
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Definition
| Software that create an interface that enables users to add or edit the content of some types of websites |
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Term
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Definition
| A marketer's ability to identify customers before they make a purchase |
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Term
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Definition
| The ability to allow customers to express their needs and wants directly to the firm in response to the firm's marketing communications |
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Term
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Definition
| A sense of group membership or felling of belonging by individual members |
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Term
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Definition
| The ability to access databases or data warehouses containing individual customer profiles and purchase histories and use these data in real time to customize a marketing offer |
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Term
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Definition
| a collection of information arranged for easy access and retrieval |
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Term
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Definition
| customers' ability to regulate the information they view and the rate and sequence of their exposure to that information |
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Term
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Definition
| a multi service web site that serves as a gateway to other websites |
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Term
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Definition
| the ability to represent a product, or at least some of its benefits, as digital bits of information |
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Term
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Definition
| an overall plan for obtaining the information needed to address a research problem or issue |
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Term
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Definition
| an informed guess or assumption about a certain problem or set of circumstances |
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Term
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Definition
| research conducted to gather more information about a problem or to make a tentative hypothesis more specific |
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Term
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Definition
| research designed to verify insights through objective procedures and to help marketers in making decisions |
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Term
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Definition
| research conducted to clarify the characteristics of certain phenomena to solve a problem |
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Term
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Definition
| research that allows marketers to make causal inferences about relationships |
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Term
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Definition
| a condition exxisting when a research technique produces almost identical results in repeated trials |
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Term
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Definition
| a condition existing when a research method measures what it is supposed to measure |
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Term
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Definition
| data observed and recorded or collected directly from respondents |
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Term
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Definition
| data compiled both inside and outside the organization for some purpose other than the current investigation |
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Term
| marketing information system (MIS) |
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Definition
| a framework for managing and structuring information gathered regualarly from sources inside and outside the organization |
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Term
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Definition
| a market made up of individuals or organizations with diverse needs for products in a specific product class |
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Term
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Definition
| the process of dividing a total market into groups woth relatively similar product needs to design a marketing mix that matches those needs |
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Term
| concentrated targeting strtegy |
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Definition
| a market segmentation strategy in which an organization targets a single market segment using one marketing mix |
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Term
| differtiated target strategy |
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Definition
| a strategy in which an organization targets two or more segments by developing a marketing mix for each segment |
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Term
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Definition
| characteristics of individuals, groups, or organizations used to divide a market into segments |
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Term
| Target market selection process |
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Definition
| Indentify appropriate strategy, determine which segmentation variable to use, develop seg. profiles, evaulate relevent mkt seg., select specific trgt mkt |
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