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;
33 Cards in this Set
- Front
- Back
|
Market potential |
the total number of units of a product that could possibly be sold by all companies doing business in a specific international market |
|
|
marketing intelligence system |
information collected regularly over time |
|
|
Marketing research |
information collected at one particular time |
|
|
arms length price |
a price that an overseas market is willing to pay |
|
|
intermodal transport |
international shipments using different modes of transportation |
|
|
direct strategy |
bypassing channels of distribution by using marketing and sales offices located in foreign countries |
|
|
indirect strategy |
the use of channels of distribution to market products and services to international markets |
|
|
adaptation |
marketing strategies used in international markets by a company that are different from those used in its domestic market |
|
|
containerization |
shipping products to overseas markets in trailer-sized containers |
|
|
product life cycle (PLC) |
a depiction of the sales and profits for a new product over its life time |
|
|
transfer prices |
a price a company charges its overseas subsidiaries |
|
|
glocalization |
the marketing strategy which involves pursuing a standardization strategy in foreign markets when possible and an adaptation one when necessary |
|
|
Reliability |
performance of various aspects of customer service that meets customer expectations |
|
|
dumping |
a price in a foreign market that undercuts the prices of companies competing there |
|
|
Gray marketing |
unauthorized importers reselling a manufacturer’s product in the manufacturer’s domestic market at a price less than what the manufacturer charges in that domestic market |
|
|
distributor |
a channel of distribution that purchases products from a company doing business in a foreign market and then resells them to other buyers |
|
|
empowerment |
aspect of customer service that allows employees to take care of customer problems immediately, without having to consult superiors |
|
|
sales potential |
the percentage of a market potential that a specific company expects to sell in a specific international market |
|
|
concept testing |
the step in the new-product development process in which the new product idea is presented to a small sample of the international market to gauge its reaction |
|
|
business analysis |
the step in the new product development process in which projections of potential revenues and profits for a potential new product are made |
|
|
global product |
a product that can be sold in most world markets |
|
|
share of wallet |
the percentage of purchases in a category a buyer gives to one vendor |
|
|
market testing |
the step in the new-product development process in which a company will develop the marketing mix for a new product |
|
|
Physical distribution |
storage and transportation operations that are used in moving products to a foreign market |
|
|
agent |
a channel of distribution that represents a company in a foreign market and is paid by commission |
|
|
reverse strategy |
development of a new product first for emerging markets then selling it to developed markets |
|
|
standardization |
marketing strategies used in international markets by a company that are the same as those used in its domestic market |
|
|
freight forwarder |
agents for companies shipping products overseas who are chiefly involved with physical distribution activities and documentation |
|
|
commercialization |
the last step in the new-product development process in which the new product is manufactured, the marketing mix is finalized, and the product is introduced to the foreign market |
|
|
horizontal publication |
magazine that target a specific job in various industries |
|
|
product elimination |
a formal, written procedure to determine which of a company’s products should be dropped |
|
|
transfer price |
a price a company charges its overseas subsidiaries |
|
|
vertical publication |
magazine that target specific industries |
