Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
6 Cards in this Set
- Front
- Back
|
MarketingAccordingtoKotler |
Marketingis the science and art of exploring, creating, and delivering value tosatisfy the needs of a targetmarket at a profit. |
|
|
TheInternational Marketing Environment |
SLEPTS: Social & Cultural, Legal Economic, Political, Technological, Sustainability Issues. |
|
|
Absolute Advantage |
Adam Smith . In economics, the principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources. |
|
|
ComparativeAdvantage |
DavidRicardo. Comparative advantage is the ability of a firm or individual to produce goods and/or services at a lower opportunity cost than other firms or individuals. |
|
|
CompetitiveAdvantage |
MichaelPorter. A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices. |
|
|
Types of Trade Restrictions |
The main types of trade restrictions are tariffs, quotas, embargoes, licensing requirements, standards, and subsidies. Tariffs, taxes on imports, raise the price of imported goods, which increases the demand and price for the same goods produced by domestic suppliers. |
