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