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8 Cards in this Set
- Front
- Back
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2 Questions related to global marketing decisions |
1. When do you standardize your product (reduce costs -eos) 2. When to customize your product (more relevant to the country you are in) |
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4 P's of global marketing |
Place (distribution) Price (value/costs) Promotion (advertising) Product (attributes) |
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A need vs. a want |
-need is when a person feels deprived of a basic necessity want - is a need shaped by personality, knowledge, and culture |
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Market Segmentation |
-is aggregating prospective buyers into groups that have common needs -market segments result from segmentation process and determine how you market you product |
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3 Factors you would consider for product attributes |
1. Cultural differences - convergence of tastes and preferences -preference in different countries in view of tradi 2. Economic Development - preference for augments products (extra attri) - preference for differented products 3. Product and Technical stds. -product standards stipulated by gov't -technical standards differences |
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3 Factors you would consider for distribution strategy? |
1. Retail concentration (direct channel?) -how many retailers -fragmented retail system - many retailers supply most of market -concentrated retail system - few suppliers supply most of market 2. Channel Length - amt of intermediaries between manufacture and consumer -fragmented is long channel length -concentrated is short channel length 3. Channel exclusivity - difficulty in accessng by outsiders |
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Push Strategy |
-marketing strategy emphasizing personal selling rather than mass media advertising -designed to pressure channel members to carry a product and promote it to final users -for industrial products or complex/new products -distribution channels are short -few print/electronic media is available -products sold through department getting pressure from sales rep |
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Pull Strategy |
-emphasize mass-media advertising as oposed to personal selling -designed to create buyer demand that will encourage channel members to stock product -long distribution channels -when sufficient print and electronic media are available to carry the message -Free samples to create buyer demand |
