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| marketing that targets markets throughout the world--imperative for businesses; a boundless mobility and competition in social, business, and intellectual arenas |
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recognizing and reacting to international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets.
The past two decades has rose from $200 billion to over $11tril |
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| multicultural corporation |
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| company that is heavily engaged in international trade, beyond exporting and importing. Moves resources, goods, services, and skills across national boundaries without regard to the country in which the headquarters is located. |
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| using more capital than labor in the production process. |
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| global marketing standardization |
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| production of uniform products that can be sold the same way all over the world; markets becoming more alike. |
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| the largest Latin American trade agreement; includes Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Paraguay, Peru, and Uruguay. |
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| an agreement to dramatically lower trade barriers worldwide, created the World Trade Organization. Adopted in '94 signed by 151 nations. Most ambitious ever negotiated..reduced tariffs by one third worldwide. Raise global income by $235Bil. Made several changes in entertainment, pharmaceuticals, integrated circuits, software, financial, legal, accounting, agriculture, textiles and apparel, |
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World Trade Organization
(WTO) |
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Definition
| trade organization that replaced the old General Agreement on Tariffs and Trade (GATT). |
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General Agreement on Tariffs and Trade
(GATT)
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| a trade agreement that contained loopholes enabling countries to avoid trade-barrier reduction agreements. |
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North American Free Trade Agreement
(NAFTA) |
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| an agreement bt canada, the united states and mexico that created the world largest free trade zone. |
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Central America Free Trade Agreement
(CAFTA) |
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| a trade agreement instituted in 2005, that includes costa rica, the dominican republic, el salvador, guatemala, honduras, nicaragua, and the U.S. |
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| a free trade zone encompassing 27 European countries. |
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| an international bank that offers low-interest loans, advice, and info to developing nations. |
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International Monetary Fund
(IFM) |
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| an international organization that acts as lender of last resort, providing loans to troubled nations, and also works to promote trade through financial cooperation. |
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| a forum for international economic development that promotes discussion between industrial and emerging market countries on key issues related to global economic stability. |
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| an intermediary in the global market who assumes all ownership risks and sells globally for its own account |
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| an intermediary who plays the traditional broker's role by bringing buyer and seller together |
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| an intermediary who acts like a manufacturer's agent for the exporter; the export agent lives in the foreign market |
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| the legal process whereby a licensor allows another firm to use it manufacturing process, trademarks, patents, trade secrets, or other property knowledge; relatively little risk |
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| private-label manufacturing by a foreign company; firms that do not want to become involved in licensing or to become heavily involved in global marketing. |
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| quick and relatively inexpensive way to go global. when a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity. |
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| direct foreign investment |
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Definition
| active ownership of a foreign company or of overseas manufacturing or marketing facilities. |
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a system in which prices of different currencies move up and down based on the demand for and the supply of each currency.
Appreciates, less of that country's currency is needed to buy another country's currency.
Depreciates, more of that country's currency is needed to buy another countries currency. |
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| the sale of an exporting product at a price lower than that charged for the same or a like product in the "home" market of the exporter. |
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| a form of trade in which all or part of the payment for goods or services is in the form of other goods or services. |
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| a tax levied on the goods entering a country; raises prices of the import, thereby making it easier for domestic firms to compete. |
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| a limit on the amount of a specific product that can enter a country. |
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| the exclusion of all products from a certain country or companies...where companies have political disputes. |
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| a law compelling a company earning a foreign foreign exchange from its exports to sell it to a control agency , usually a central bank. |
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| ..occurs when several countries agree to work together to form a common trade area that enhances trade opportunities. (EU) |
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| an agreement to stimulate international trade. Largest is Mercosur. |
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| describes how consumers make purchase decisions and how they use and sidpose of the purchased goods or service. Includes factors that influence purchase decisions and product use. |
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| consumer decision-making process |
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Definition
5-step process used by consumers when buy goods or services.
1.need recognition
2.information search
3.evaluation of alternatives
4.purchase
5.postpurchase behavior
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Term
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Definition
when consumers are faced with an imbalance between actual and desired states that arouses and activates the consumer decision-making process. A want is the need way that a consumer goes about addressing a need.
*Triggered when consumer is exposed to either an internal or external stimulus. Int=hunger/thirst. Ext=someone's reccommendation of new restaurant. Marketers find out what products are relevant to needs through surveys and observations of trends in the marketplace. |
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Internal information search: the person recalls information stored in the memory. Stems from previous experience with a product.
External information search:consumers seek info in the outside environment. Consumer's knowledge about the product, confidence in oneself, and product experience effect the extent of external info search. Two types.........
1.nonmarketing-controlled information source: not associated with promotions; info includes person experiences, personal sources, public resources.
2.marketing-contolled information source:is a biased toward a specific product because it originates with marketers promoting that product; mass media advertising, sales promotions, salespeople, product labels and packaging, and the Internet.
Evoked set: a group of brands, resulting from an informatin search, from which a buyer can choose/ |
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| evaluation of alternatives and purchase |
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Definition
| The environment, internal information, and external influences help consumers evaluate and pick alternatives; eliminate alternatives by eliminating those lacking desired attributes. purchase decision making process is a piecemeal process. Eval made by examining alternative advantages and disadvantages along imp product attributes. Eval according to a categorizations process. |
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5 ways to enter the global marketplace..
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Definition
exporting
licensing
contract manufacturing
joint venture
direct investment |
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| inner tension that consumer experience after recognizing an inconsistency bt behavior and values or opinions |
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the amount of time and effort a buyer invest in the search, evaluation, and decision processes of consumer behavior
contingent upon
experience/knowledge
interest
situation
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| routine response behavior |
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Definition
| the type of decision making exhibited by consumers buying frequently purchased, low cost goods and services; requires little search and decision time |
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Definition
| requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category |
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| extensive decision making |
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| most complex type. used when buying an unfamiliar expensive product or an infrequent bought item |
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| a homogeneous group of people who share elements of overall culture as well as unique elements of the overall culture as well as unique element of their own group |
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| a group in society that influences and individual's purchasing behavior |
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| a way of organizing and grouping consistencies of an individual's reactions to situations |
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| how consumers perceive themselves in terms of attitudes, beliefs, perceptions, and self-evals |
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| the way an individual would like to be |
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| the way an individual actually perceives himself of herself |
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| the process by which people select, organize and interpret stimuli into a meaningful and coherent picture |
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| the process whereby a consumer notices certain stimuli and ignores others. |
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| a process whereby a consumers changes or distorts info that conflicts with his or her feelings or beliefs |
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| a process whereby a consumer remembers only that information that supports his or her personal beliefs |
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| a driving force that causes a person to take action to satisfy specific needs |
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a process that creates changes in behavior, immediate or expected, through experience and practice
experiental
conceptual
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| occurs when one response is extended to a second stimulus similar to the first |
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| a learned ability to differentiate among similar products ex. coke v pepsi |
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| the marketing of goods and services to individuals and organizations for purposes other than personal consumption |
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| the use of internet to facilitate the exchange of good, services, and info between organizations |
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a measure of Web site's effectiveness;
frequency x duration x site reach |
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| the elimination of intermediaries such as wholesalers or distributers from a marketing channel |
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| the reintroduction of an intermediary between producers and users |
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strategic alliance
(strategic partnership) |
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Definition
| a cooperative agreement between business firms |
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Definition
| a firms's belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely |
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| the condition that exists when one party has confidence in an exchange partner's reliability and integrity. |
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| a network of interlocking corporate affiliates |
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original equipment manufacturers
(OEM)
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Definition
| individuals and organizations that buy business goods and incorporate them into the products they produce for eventual sale to other producers or to consumers. |
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North American Industry Classification System
(NAICS)
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| a detailed numbering system developed by the Us, Canada, Mexico to classify North American business establishments by their main production process |
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| the demand for business products |
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| the demand for two or more items used together in a final product |
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multiplier effect
(accelerator principle)
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| phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for facilities and equipment needed to make the consumer product |
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| an electronic trading floor that provides companies with integrated links to their customers and suppliers |
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| a practice where business purchasers choose to buy from their own customers |
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| all those ppl in an organization that become involved in the purchase decision |
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| situation requiring the purchase of a product for the first time |
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