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19 Cards in this Set
- Front
- Back
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Marketing Mix |
The set of choices the firm offers its targeted markets |
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Market Segmentation |
Refers to identifying distinct groups of consumers whose purchasing behavior differs from others in important ways. |
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Concentrated Retail System |
A few retailers supply most of the market |
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Fragmented Retail System |
One in which there are many retailers, none of which has a major share of the market |
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Channel Length |
Refers to the number of intermediaries between the producer and the consumer |
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Exclusive Distribution Channel |
Channel that is difficult for outsiders to access. |
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Channel Quality |
Refers to the expertise, competencies, and skills of established retailers in a nation and their ability to sell and support the products of international businesses. |
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Source Effects |
Occur when the receiver of the message evaluates the message on the basis of status or image of the sender. |
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Country of Origin Effects |
The extent to which the place of manufacturing influences product evaluations |
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Noise |
Refers to the amount of other messages competing for a potential consumer's attention |
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Push Strategy |
Emphasizes personal selling rather then mass media advertising in the promotional mix. |
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Pull Strategy |
Depends more on mass media advertising to communicate the marketing message to potential consumers. |
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Price Elasticity of Demand |
Measure of the responsiveness of demand for a product to change in price |
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Elastic Demand |
When a small change in price produces a large change in demand |
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Inelastic Demand |
When a large change in price produces only a small change in demand |
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Strategic Pricing |
Three aspects 1) Predatory Pricing 2) Multipoint Pricing 3) Experience Curve Pricing |
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Predatory Pricing |
The use of price as a competitive weapon to drive weaker competitors out of a national market. |
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Multipoint Pricing |
Refers to the fact that a firm's pricing strategy in one market may have an impact on its rivals' pricing strategy in another market. |
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Experience Curve Pricing |
A firm's strategy on an international scale will price low worldwide in attempting to build global sales volume as rapidly as possible, even if it means taking a loss initially. |
