Term
| Management Information Systems |
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Definition
| provide managers and other decision-makers with a continuous flow of information about company operations |
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Definition
| a company's private data network |
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Term
| Direct Sensory Perception |
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Definition
| Using the senses to find out firsthand what is going on in a particular country |
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Term
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Definition
| An undiscovered market; demand would be there if the product was there. |
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Definition
| market will emerge as macro environmental trends continue. |
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Definition
| after a questionaire is translated into a particular target language, it is translated once again into the original by a different translator. |
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Definition
| a sample is a selected subset of a population that is representative of the entire population |
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Term
| Global Market Segmentation |
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Definition
| Defined as the process of identifying specific segments-whether they be country groups or individual consumer groups- of potential custmers with homogeneous attributes who are likely to exhibit similar responses to a company's marketing mix. |
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Definition
| based on measurable characteristics of population: income, population size, age distribution, gender, education, and occupation. |
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Definition
| affluent consumers whoa re well traveled and have the money to spend on prestigious products with an image of exclusivity. |
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Term
| Psycho-graphic Segmentation |
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Definition
| grouping people according to attitudes, values, and lifestyles. |
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Term
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Definition
Top Guns (27%)—ambition, power, control
Elitists (24%)—old money, car is just a car
Proud Patrons (23%)—car is reward for hard work
Bon Vivants (17%)—car is for excitement, adventure
Fantasists (9%)— car is form of escape |
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Term
Behavior Segmentation
-Usage Rate
-User Status |
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Definition
Focus on whether people purchase a product, as well as how much and how often they use it.
Usage rate- heavy, medium, light and non-user.
User Status- potential users, non-users, ex-users, regulars, first-timers, and users of competitor's products. |
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Term
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Definition
focuses on the value equation (V=Benefits/Price)
based on understanding the problem a product solves, the benefit it offers, or the issue it addresses. |
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Term
| Be Mindful of the Pitfalls(Marketers can utilize 3 basic criteria). |
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Definition
-current size of the segment and its anticipated growth potential.
-Competition
-Compatibility with company's overall objectives and the feasibility of successfully reaching the target audience. |
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Term
| Feasibility and Compatibility |
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Definition
Will adaption be required?
If so, is this economically justifiable in terms of expected sales? |
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Term
| Standardized Global Marketing Strategy |
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Definition
Standardized-undifferentiated target marketing.
Mass marketing on a global scale, standardized marketing mix, minimal product adaptation, intensive distribution, lower production costs and lower communication costs. |
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Term
| Concentrated Global Marketing |
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Definition
Niche Marketing
Single segment of global market, look for global depth rather than national breadth. |
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Term
| Differentiated Global Marketing |
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Definition
Multi-segment targeting
two or more distinct markets, and wider market coverage. |
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Term
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Definition
Locating a brand in consumers' minds over and against competitors in terms of attributes and benefits that the brand does and does not offer.
Competition |
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Term
| Global Consumer Cultural Positioning (GCCP) |
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Definition
identifies the brand as a symbol of a particular global culture or segment.
High touch and high tech products.
HEINEKEN |
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Term
| Foreign Consumer Cultural Positioning (FCCP) |
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Definition
associates that a brand's users, use occasions, or product origins with a foreign country or culture.
Foster's (Not-so-Australian beer) |
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Term
| Export Selling vs. Export Marketing |
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Definition
Export selling involves selling the same product, at the same price, with the same promotional tools in a different place
Export marketing tailors the marketing mix to international customers |
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Term
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Definition
| A geographic area that offers manufacturers simplified customs procedures, operational flexibility, and a general environment of relaxed regulations. |
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Term
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Definition
| can be thought of as the "three R's" if global business: rules, rate schedules (duties) and regulations of individual countries. |
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Term
| Discriminatory Procurement Policies |
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Definition
| can take the form of government rules and administrative regulations that give local vendors priority. |
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Term
| Export Selling vs. Export Marketing |
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Definition
Export selling involves selling the same product, at the same price, with the same promotional tools in a different place
Export marketing tailors the marketing mix to international customers |
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Term
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Definition
| Reduced tariff rate applied to imports from certain countries |
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Term
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Definition
| Ad valorem duties: expressed as a percentage of value of goods |
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Term
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Definition
| Applies to certain categories of imported agricultural products. If prices of imported products would undercut those of domestic products, the effect of these levies would be to raise the price of imported products to the domestic price level. |
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Term
| The Possible Arrangements for Handling Exports |
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Definition
Part-time activity performed by domestic employees
Through an export partner
Through an export department
Through an export dept. within an international division
For multi-divisional companies, each possibility exists for each division. |
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Term
| Documentary credits (letter of credit) |
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Definition
| Can guarantee payment for a product |
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Term
| Customs Trade Partnership Against Terrorism (C-TPAT) |
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Definition
| Aims to have businesses certify their security and that of their partners. |
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Term
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Definition
| Pertains to whether a company makes or buys its products as well as where it makes or buys them. |
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Term
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Definition
| A contractual agreement whereby one company (the licensor) makes an asset available to another company (the licensee) in exchange for royalties, license fees, or some other form of compensation |
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Term
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Definition
| A contract between a parent company and a franchisee that allows the franchisee to operate a business developed by the franchisor in return for a fee and adherence to franchise-wide policies |
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Term
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Definition
| Partial or full ownership of operations outside of home country |
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Term
| Foreign Direct Investment (FDI) |
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Definition
| Figures reflect investment flows out of home country as companies invest in or acquire plans, equipment, or other assets. |
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Term
| Forms of Investment: Joint Ventures, Minority or Majority Equity Status and ______ |
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Definition
JV- an entry strategy for a single target country in which the partners share ownership of a newly created business entity
Min/Maj. Equity Status- Greenfield operations or Greenfield Investments (new start-ups)
Outright Acquisition |
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Term
| Terms for Linkage Between Companies (different countries) |
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Definition
| Collaborative Agreements, Strategic Alliances, Strategic International Alliances, Global Strategic Partnerships |
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Term
| 3 Charactersistics of Strategic Alliances |
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Definition
Remain Independent following formation of alliance
Share benefits of alliance
Ongoing contributions in tech, products and other key strategic areas |
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Term
| Mission and Governance (as part of GSP)- |
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Definition
Mission- create win-win situations, where participants pursue objectives on the basis of mutual need or advantage
Governance- discussion ad consensus must be the norm. Partners must be viewed as equals. |
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Term
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Definition
| is a set of companies with interlocking business relationships and shareholdings. The member companies own small portions of the shares in each other's companies, centered on a core bank; this system helps insulate each company from stock market fluctuations and takeover attempts, thus enabling long-term planning in innovative projects. It is a key element of the automotive industry in Japan. |
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Term
| "Relationship Enterprise" |
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Definition
| Next stage of evolution of the strategic alliance (super alliance and virtual corporation) |
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