MKTG

• -recognizing and reacting to international marketing opportunities
• - using effective global marketing strategies
• -being aware of threats from foreign competitors

• -culture
• - economic and technological development
• - political structure
• - demographic makeup
• - natural resources

the common set of values shared by its citizens that determine what is socially acceptable

a tax levied on goods entering a country

limit on the amount of product entering a country

exclusion of products from a country

Wall that does not allow product to enter the country

An agreement to stimulate international trade

• - earn more profits
• - leverage a unique product or technological advantage
• - Possess exclusive market information
• - Saturated domestic markets
• - excess capacity
• - Utilize "Economies of Scale"

• - export
• - licensing
• - contract manufacturing
• - joint venture
• - direct investment

• 1. need recognition
• 2. info search
• 3. evaluate alternatives
• 4. Purchase
• 5. Postpurchase behavior

Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions

A homogeneous group of people who share elements of the overall culture as well as unique elements of their own group

a cooperative agreement between business firms

• Sustainability: Segment must be large enough to warrant a special marketing mix
• Identifiability and Measurability: must be identifiable and their size measurable
• Accessibility: Members of targeted segments must be reachable with marketing mix
• Responsiveness: Unless segment responds to a marketing mix differently, no seperate treatment is needed

A marketing approach that views the market as one big market with no individual segments and thus requires a single marketing mix

used to select one segment of a market for targeting efforts

developing a specific marketing mix to influence potential customers overall perception of a brand, product line, or organization in general.

20 percent of all customers generate 80 percent of the demand

the advantage acheived when a firm seeks to target and effectively serve a small segment of the market

- the intended use of the product

the elimination of intermediaries such as wholesalers or distributors from a marketing channel.

the quantity of a product that will be sold in the market at various prices for a specified period

A situation in which consumer demand is sensitive to changes in price.

A situation in which an increase or a decrease in price will not significantly affect demand for the product

the demand for two or more items used together in a final product

the practice of business purchasers choosing to buy from their own customers