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37 Cards in this Set

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this is an advantage over competitors gained by offering consumers greater value than competitors do?
competitive advantage
Strategies that position the company against competitors to create the strongest possible advantage
competitive marketing strategies
3 steps to the competitor analysis? IAS
Identify competitors by product or service, assess competitors strengths and weaknesses, and select competitors to attack and avoid
3 possible answers to the question "who are my competitors?" example of each for digiorno pizza
Firms with the same product or service totinos, firm whose offering provides the same benefit other microwaveable meal providers, or firms competing for the same consumer dollars other food providers
what are porter's 4 basic competitive strategies, ODFM
Overall cost leader- gain market share with low prices, differentiation- become leader by a new brand, focus- serve only one or a few market segments, and middle of the road- wide variety of consumers
3 of porters 4 basic competitive strategies work, which doesn't? cirque de solei would be under which category
middle of the road, and differentiation
Whats treacy and wiersema's basic competitive strategies and whats their proposal? OCP
Operational excellence- a lean value chain, customer intimacy- develop close relations, and product leadership- offering leadingedge products, offer superior value in one of the three and acceptable in the other two
% and name of the 4 market share positions
Market leader 40, market challengers 30, market followers 20, and market nichers 10
the market challenger has one major benefit over the market leader?
the second mover advantage- see what made the leader successful and improve on it
Explain the concept of the market-centered company?
a balanced focus between COMPETITOR and CUSTOMER developments
whose the market in a global firm?
the world
3 restrictions to the international trade system?
Tariffs- taxes on certain imported products designed to raise revenue, quotas- limits on amount of imports allowed, Nontariff trade barriers- biases against bids from foreign countries or restrictive product standards
how is international pricing typically affected by international trade restrictions
prices go up slightly to cover the extra costs
2 international trade systems that help with international trade?
GATT- General agreement on tariffs and trade- reduces tariffs and other international barriers, and World trade organization- enforces GATT and mediates disputes
these are free trade zones 2 examples
Economic Communities- the European Union and NAFTA- North American free trade agreement
these economies are rich in one or more natural resources but poor in other ways?
raw materrial exporting economies
manufacturing accounts for 10 to 20 percent of the country's economy
industrializing economies
major exporters off manufactured goods, services, and investment funds, these economies trade goods among themselves and also export them to other economies for raw materials
industrial economies
the vast majority of people in these economies engage in simple agriculture
subsistence economies
Political stability and government bureaucracy make up the _____ __________ of international economies
the political environment
These are the business norms and cultural preferences, traditions, and behaviors of international markets
cultural factors
3 ways to enter global markets? examples
exporting, joint venturing- licensing or joint ownership, and direct investment- assembling facilities
how does the aamount of commitment, risk, control, and profit potential change between the three ways to go global?
inorder for smallest to largest, exporting, joint venturing, and direct investment
describe direct and indirect exporting
direct- the firm handles its own exports= more risk and investment, indirect- there is an independent international marketing intermediary
2 kinds of marketing mixes?
standardized- same products and marketing approaches worldwide, or adapted- adjust the marketing mix to each target market
What is straight product extension, product adaptation, and product invention when adjusting the product for an international market?
same product, change product to meet local needs, and creating new product for a specific country
6 ways that marketers have harmed consumers HDHHPP
high prices, deceptive practices, high pressure selling, harmful products, planned obsolescence, poor service
misrepresenting product info to mislead consumers?
deception
what is a marketers response to the criticism of selling unsafe products
marketers know theres no value in selling bad products
an organized movement of concerned citizens and government agencies to protect and improve peoples current and future lving environment
environmentalism
a management approach that involves developing strategies that both sustain the environment and produce profits for the company
environmental sustainability
an organized movement of citizens and government agencies to improve the rights and power off buyers in relation to sellers
consumerism
What is the consumers bill of rights?
rights listed for consumers- expect performance, don't have to buy, and safety. Thought up by JFK
3 criticisms of marketings? FTC
false wants and too much materialism, too few social goods, and cultural pollution
the philosophy of sustainable marketing that holds that the company should view and organize its marketing activities from the consumers point of view
consumer-oriented marketing
a principle of sustainable marketing that holds that a company should =put most of its resources into customer value building marketing investments
customer-value marketing
A principle of sustainable marketing that holds that a company should make marketing decisions by considering consumer wants, the companys requirements, consumers interests, and society's interests
societal marketing