Ba 390 Final Exam

Front 1

this is an advantage over competitors gained by offering consumers greater value than competitors do?

Back 1

competitive advantage

Front 2

Strategies that position the company against competitors to create the strongest possible advantage

Back 2

competitive marketing strategies

Front 3

3 steps to the competitor analysis? IAS

Back 3

Identify competitors by product or service, assess competitors strengths and weaknesses, and select competitors to attack and avoid

Front 4

3 possible answers to the question "who are my competitors?" example of each for digiorno pizza

Back 4

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

Front 5

what are porter's 4 basic competitive strategies, ODFM

Back 5

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

Front 6

3 of porters 4 basic competitive strategies work, which doesn't? cirque de solei would be under which category

Back 6

middle of the road, and differentiation

Front 7

Whats treacy and wiersema's basic competitive strategies and whats their proposal? OCP

Back 7

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

Front 8

% and name of the 4 market share positions

Back 8

Market leader 40, market challengers 30, market followers 20, and market nichers 10

Front 9

the market challenger has one major benefit over the market leader?

Back 9

the second mover advantage- see what made the leader successful and improve on it

Front 10

Explain the concept of the market-centered company?

Back 10

a balanced focus between COMPETITOR and CUSTOMER developments

Front 11

whose the market in a global firm?

Back 11

the world

Front 12

3 restrictions to the international trade system?

Back 12

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

Front 13

how is international pricing typically affected by international trade restrictions

Back 13

prices go up slightly to cover the extra costs

Front 14

2 international trade systems that help with international trade?

Back 14

GATT- General agreement on tariffs and trade- reduces tariffs and other international barriers, and World trade organization- enforces GATT and mediates disputes

Front 15

these are free trade zones 2 examples

Back 15

Economic Communities- the European Union and NAFTA- North American free trade agreement

Front 16

these economies are rich in one or more natural resources but poor in other ways?

Back 16

raw materrial exporting economies

Front 17

manufacturing accounts for 10 to 20 percent of the country's economy

Back 17

industrializing economies

Front 18

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

Back 18

industrial economies

Front 19

the vast majority of people in these economies engage in simple agriculture

Back 19

subsistence economies

Front 20

Political stability and government bureaucracy make up the _____ __________ of international economies

Back 20

the political environment

Front 21

These are the business norms and cultural preferences, traditions, and behaviors of international markets

Back 21

cultural factors

Front 22

3 ways to enter global markets? examples

Back 22

exporting, joint venturing- licensing or joint ownership, and direct investment- assembling facilities

Front 23

how does the aamount of commitment, risk, control, and profit potential change between the three ways to go global?

Back 23

inorder for smallest to largest, exporting, joint venturing, and direct investment

Front 24

describe direct and indirect exporting

Back 24

direct- the firm handles its own exports= more risk and investment, indirect- there is an independent international marketing intermediary

Front 25

2 kinds of marketing mixes?

Back 25

standardized- same products and marketing approaches worldwide, or adapted- adjust the marketing mix to each target market

Front 26

What is straight product extension, product adaptation, and product invention when adjusting the product for an international market?

Back 26

same product, change product to meet local needs, and creating new product for a specific country

Front 27

6 ways that marketers have harmed consumers HDHHPP

Back 27

high prices, deceptive practices, high pressure selling, harmful products, planned obsolescence, poor service

Front 28

misrepresenting product info to mislead consumers?

Back 28

deception

Front 29

what is a marketers response to the criticism of selling unsafe products

Back 29

marketers know theres no value in selling bad products

Front 30

an organized movement of concerned citizens and government agencies to protect and improve peoples current and future lving environment

Back 30

environmentalism

Front 31

a management approach that involves developing strategies that both sustain the environment and produce profits for the company

Back 31

environmental sustainability

Front 32

an organized movement of citizens and government agencies to improve the rights and power off buyers in relation to sellers

Back 32

consumerism

Front 33

What is the consumers bill of rights?

Back 33

rights listed for consumers- expect performance, don't have to buy, and safety. Thought up by JFK

Front 34

3 criticisms of marketings? FTC

Back 34

false wants and too much materialism, too few social goods, and cultural pollution

Front 35

the philosophy of sustainable marketing that holds that the company should view and organize its marketing activities from the consumers point of view

Back 35

consumer-oriented marketing

Front 36

a principle of sustainable marketing that holds that a company should =put most of its resources into customer value building marketing investments

Back 36

customer-value marketing

Front 37

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

Back 37

societal marketing