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22 Cards in this Set

  • Front
  • Back
3 levels of business planning
Strategic: managerial decision process that matches organization’s resources and capabilities to its market opportunities for long-term growth and survival. Functional: concentrates on developing strategies anc tactics for ST that support company’s LT plan. Operational: detailed day-to-day planning that carries out org’s functional plans.
Born-global firms
Sell in multiple countries from moment firm is created.
Business portfolio
The group of different products or brands owned by an organization and characterized by different income-generating and growth capabilities.
Cash cows
Strategic business units (SBUs) with a dominant market share in a low growth potential market.
Competitive intelligence
The process of gathering and analyzing publicly available info about rivals, i.e “secret shoppers”
Consumer orientation
A management philosophy that focuses on ways to satisfy customers’ needs and wants.
Consumer-generated value
Everyday people functioning in marketing roles such as participating in creating advertisements, providing input in new product development, or serving as wholesalers or retailers.
A social movement that attempts to protect consumers from harmful business practices.
Corrective advertising
Advertising that clarifies or quantifies previous deceptive advertising claims
Cross-sectional design
Gathering descriptive research of quant info from one point in time, i.e through a questionnaire.
Custom v. syndicated research
Custom is just for a single firm, syndicated is done by data-collection firms and sold to multiple firms
Customer relationship management (CRM)
A philosophy that sees marketing as a process of building long term relationships with customers to keep them satisfied and to keep them coming back. A concept that involves systematically tracking customers’ preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual’s unique wants and needs.
Data mining
Sophisticated analysis techniques to take advantage of the massive amount of transaction info now available
Developed country
Country has sophisticated market systems, strong private enterprise, and bountiful market potential for many goods and services.
Differential benefit
Properties of products that set them apart from competitors’ products by providing unique customer benefits.
Distinctive competency
A superior capability of a firm in comparison to its direct competitors.
A company tries to get a toehold in a foreign market by pricing its products lower than they are offered at home.
Exploratory research
Technique marketers use to generate insights for future, more rigorous studies. Often qualitative in nature.
A form of licensing involving the right to adapt an entire system of doing business.
Functional plan: 4 steps
1) Perform situation analysis: look at marketing environment. 2) Set marketing objectives: what the marketing must achieve to meet objectives for biz as a whole. 3)Develop marketing strategies: look at target market and marketing mix. 4) Implement and control the marketing plan, come up w/ action plans, taking into account timeline, budget, responsibility, etc
Green marketing
A marketing strategy that supports environmental stewardship by creating an environmentally-founded differential benefit in the minds of consumers.
Licensing agreement (in foreign markets)
An agreement in which on firm gives another firm the right to produce and market its product in a specific country or region in return for royalties.