Liamxavier

Value Equation ( first principle of marketing) - -Benefits/Price ( money,time,effort) -Focus ( Second Principle of marketing) - -The concentration or attention of a core business or competence. -Competitive Advantage ( third principle of marketing) - -When a company succeeds in creating more value for customers then its competitors do -Standardi

What is Global Marketing? - -The performance of business activities that direct the flow of a company's goods and services to consumers or users in more than one nation for a profit -Why is Global Marketing Different? - -It generates new organizational challenges. -G-7 - -USA, Germany, UK, France, Japan, Canada, Italy -BRIC - -Brazil, Russia, In

Diversification - -developing new products for new markets. Starbucks dropped the word "Coffee" its logo. It recently acquired a juice maker, Evolution Fresh; the Bay Bread bakery, and tea retailer Teavana Holdings. Next up: Revamping stores so they can serve as wine bars and attract new customers in the evening. A strategy to enter into a new ma

Contract Manufacturing - -A licensing arrangement in which a global company provides technical specifications to a subcontractor or local manufacturer. -Franchising - -A contract between a parent company franchisor and franchisee that allows the franchisee to operate a business developed by the franchisor in return for a fee and adherence to franc

Agents - -Representatives of a given enterprise. -Developing Country - -a country in which the society is less modern and less industrialized and in which inhabitants are generally poorer than they are in developed countries -Dumping - -Pricing a product sold in a foreign market below the cost of producing it or at a price lower than in its domes

Back translation - -the translation of translated text back into its original language, by a different individual, to ensure that the instrument has been translated as intended. -Buyer behavior research - -research involves the study of attitudes and preferences -Causal research - -research that examines cause-and-effect relationships -Competiti

Culture - -"Meanings that are shared by most people in a social group" -Common affective reactions - -ex: puppies are cute -Typical Cognitions - -ex: success is determined by luck -Characteristic patterns of behavior - -ex: don't eat with your hands -Consumer Culture - -Culture performs important functions for consumers.

Customer Relationship Management - -Using information about customers to create marketing strategies that develop and sustain desirable customer relationships -customers - -The purchasers of organizations' products; the focal point of all marketing activities -exchanges - -the provision or transfer of goods, services, or ideas in return for something of value

b2c - -business to consumer -b2b - -business to business -c2c - -consumer to consumer -customer relationship management - -a business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers.

Globalization - -Goods, services, capital, people, information, and ideas flow across national borders Resulted by fundamental changes such as: - Reductions or eliminations of trade barriers by country governments - Decreasing concerns of distance and time with regard to moving products and ideas across countries - Standardization of laws across borders - Globally integrated production processes