Term
| Importance of Global Marketing to the U. S. |
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Definition
| uU.S. exports a fifth of industrial production. uOne of every 10 jobs in U.S. is supported by exports. uU.S. businesses export over $800 billion in goods. uExports account for 25 percent of U.S. economic growth. uU.S. is world’s leading exporter of farm products. |
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Term
| Benefits of Globalization |
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Definition
| uExpands economic freedom uSpurs competition uRaises productivity and living standards uOffers access to foreign capital, global export markets, and advanced technology uPromotes higher labor and environmental standards uActs as a check on government power |
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Term
Multinational corporation |
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Definition
| Move resources, goods, services, and skills across national boundaries without regard for the country in which the headquarters is located. |
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Term
| 4 stages of multinational companies |
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Definition
1.Operate in one country, sell to another 2.Set up foreign subsidiaries to handle sales in one country 3.Operate an entire line of business in another country 4.Virtual business |
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Term
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Definition
The common set of values shared by its citizens that determine what is socially acceptable. |
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Term
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Definition
| A tax levied on goods entering
a country |
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Term
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Definition
| Limit on the amount of a
product entering a country |
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Term
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Definition
| Exclusion of products from
a country |
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Term
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Definition
| Foreign exchange must be
sold to a control agency |
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Term
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Definition
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Term
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Definition
| An agreement to stimulate
international trade |
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Term
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Definition
| Sell domestically produced products to buyers in other countries |
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Term
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Definition
| Legal process allowing use of manufacturing/patents/knowledge |
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Term
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Definition
| Private-label manufacturing by a foreign country |
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Term
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Definition
| Domestic firm buys/joins a foreign company to create new entity |
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Term
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Definition
| Active ownership of a foreign company/manufacturing facility |
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Term
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Definition
Any unit of input affecting
one or more of the five senses |
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Term
Consumer
Decision-Making Process |
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Definition
Need recognition
Information Search
Evaluation of Alternatives
Purchases
Postpurchase behavior |
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Term
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Definition
| Group of brands, resulting from an information search, from which a buyer can choose |
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Term
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Definition
| Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions. |
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Term
Factors Determining the Level
of Consumer Involvement |
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Definition
Previous experience Interest Perceived risk of negative consequences Situation Social Visibility |
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Term
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Definition
| A homogeneous group
of people who share elements of the overall culture as well as unique elements of their own group. |
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Term
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Definition
Reference Groups Opinion Leaders Family Members |
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Term
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Definition
Perception Motivation Learning Beliefs and Attitudes |
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Term
| Maslow's Hierarchy of Needs |
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Definition
| A method of classifying human needs and motivations into five categories in ascending order of importance. |
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Term
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Definition
| Consumer notices certain stimuli and ignores others |
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Term
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Definition
| Consumer changes or distorts information that conflicts with feelings or beliefs |
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Term
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Definition
| Consumer remembers only that information that supports personal beliefs |
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Term
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Definition
1. How consumers make purchase decisions 2.How consumers use and dispose of product |
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Term
Recognition of
Unfulfilled Wants |
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Definition
-When a current product isn’t performing properly
-When the consumer is running out of a product
-When another product seems superior to the one currently used |
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Term
| Consumers can reduce dissonance by: |
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Definition
-Seeking information that reinforces positive ideas about the purchase
-Avoiding information that contradicts the purchase decision
-Revoking the original decision by returning the product |
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