Term
| Largest multi-national company in terms of revenue |
|
Definition
|
|
Term
| Steps in the New Product Development Process |
|
Definition
1) New product strategy
2) idea generation
3) idea screening
4) business analysis
5) development
6) test marketing
7) commercialization |
|
|
Term
| Customer Relationship Management (CRM) Steps |
|
Definition
1) understand current customer base
2) capture customer data
3) store
4) analyze
5) integrate data
6) identify best customers
7) set strategies to retain/reward loyal customers |
|
|
Term
|
Definition
| translated text is re-translated “back” into the source language to assess accuracy |
|
|
Term
|
Definition
1) Define Mission Statement
2) Set plan objectives
3) SWOT
4) Set Strategic Direction
5) Implement TM & 4P's |
|
|
Term
| Service additions to traditional 4P's of marketing |
|
Definition
1) Process
2) People
3) Physical Evidence |
|
|
Term
| Global MArketing Accounts for what % of GDP? |
|
Definition
|
|
Term
|
Definition
| A limited number of brands you'll look at when considering a decision. |
|
|
Term
|
Definition
| balancing the good with the bad |
|
|
Term
|
Definition
| Ages 19-29, impatient, tech savvy. |
|
|
Term
| Services make up what % of GDP and Employment? |
|
Definition
|
|
Term
| Characteristics of Services |
|
Definition
1) intangible
2) inseparable
3) perishable
4) heterogeneous |
|
|
Term
| Dimensions of Service Quality |
|
Definition
1) reliability (done right?)
2) responsiveness (on time?)
3) Assurance (employees know what they're doing?)
4) Empathy (employees care?)
5) Tangibles (nice office/uniforms?) |
|
|
Term
|
Definition
| build a core of loyal customers who will continually repeat buy. |
|
|
Term
|
Definition
| Information technology and data mining |
|
|
Term
| Importance of Global Marketing in the U.S. |
|
Definition
- US exports 1/5 of industrial production ($800 billion in goods.)
- 1 of every 10 US jobs supported by exports.
- Exports account for 25% of US economic growth
- US is the world's leading exporter of farm products. |
|
|
Term
| Environmental Challenges facing global markets |
|
Definition
1) Culture
2) Economic/technological development
3) Political Structure
4) Demographic Makeup |
|
|
Term
| Global Market Entrance Methods (in order of risk/return) |
|
Definition
1) Export
2) Licensing
3) Contract Manufacturing
4) Joint-Venture
5) Direct Investment |
|
|
Term
| Global Market Standardization |
|
Definition
| Same message/product all around the world |
|
|
Term
|
Definition
| Same message, but different product abroad |
|
|
Term
|
Definition
| same product, but different message abroad |
|
|
Term
|
Definition
| Change the message and the product for global marketing. |
|
|
Term
|
Definition
| payment in the form of another good or service. |
|
|
Term
|
Definition
| the sale of an exported good at a price lower than that charged at home. Done to inc. mkt share, exploit large productions, offset low domestic demand, and maintain prices during exchange instability. |
|
|
Term
| Competitive Advantage (and types) |
|
Definition
unique features of a company that make it's products significant/superior to the competition.
1) Cost
2) Product/service differentiation
3) Niche |
|
|
Term
| Cost competitive advantage |
|
Definition
| being the low-cost competitor. (hard to maintain) |
|
|
Term
| product/service differentiation competitive advantage |
|
Definition
| provision of something that is unique and valuable to buyers beyond lower prices. |
|
|
Term
| Niche Competitive Advantage |
|
Definition
| efficiently targeting and serving a small segment of the market |
|
|
Term
|
Definition
high mkt growth, high mkt share.
Invest more for continued growth |
|
|
Term
|
Definition
low Mkt Share, low Mkt growth.
drop/consolidate |
|
|
Term
|
Definition
High potential for growth, low mkt share.
Watch/hold then invest/drop. Could turn into a star or dog. |
|
|
Term
|
Definition
High mkt share, low growth.
Milk profits for use in stars/?'s |
|
|
Term
|
Definition
| old customers with old products (inc mkt share or sales) |
|
|
Term
|
Definition
| new customers to old products |
|
|
Term
|
Definition
| new products to old customers |
|
|
Term
|
Definition
| new products to new customers |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| cut a geographical region |
|
|
Term
| Characteristics of a Marketing Audit |
|
Definition
1) comprehensive
2) systematic
3) independent
4) periodic |
|
|
Term
| DeBeers Corporate Responsibility |
|
Definition
Philanthropic
Ethical
Lawful
Profitable |
|
|
Term
|
Definition
world pop. 6.9 Billion
US Pop. 310 Million
85% high school grads; 27% college grads
Other than english primary language 17%
personal savings rate 5.3%
federal student loan 66%
Age over 65 - 12.5%
age under 18 - 24.8%
We are not in a recession but we feel like we are |
|
|
Term
|
Definition
Production - focus on internal capabilities of the firm
Sales - aggressive sales techniques, increased sales = increased profits.
Market - focus on customers wants/needs while meeting org. objectives
Social Marketing - focus on not only market wants/needs, but also societal long term well-being. |
|
|
Term
|
Definition
| if any bad occurs, it's unethical |
|
|
Term
|
Definition
| "bad feeling" about buying something. You make up reasons why you don't need it. |
|
|
Term
|
Definition
| data collected form your own research. 1st time info. |
|
|
Term
|
Definition
| any data collected previously for any reason other than the one at hand |
|
|
Term
|
Definition
| the financial value of a company/brand name. |
|
|
Term
|
Definition
| at least 20% of the product is sold outside it's home country. |
|
|
