Ch1 Flashcards
Domestic Marketing
focusing on domestic consumers and home industry environments
Export Marketing
seen as an extension of the domestic market by selling locally to international clients
International/Multinational Marketing
steps in carrying out the marketing process to consumers internationally
Marketing Process steps
creation, production, distribution, promotion, and pricing of products, services, ideas, and experiences
Global Marketing
marketing activities focused on similar consumer preferences not by nation or region
EPRG framework
ethnocentric, polycentric, regiocentric, and geocentric
Ethnocentric Orientation
considering domestic strategies superior to foreign ones and are most effective for setting up international ventures
Highly centralized
Tobacco/tech firms
Polycentric Orientation
assume that each market it is operating in is unique and needs to be individually assessed
Regiocentric Orientation
world regions are disticnt markets that share economic, cultural and political traits
Geocentric Orientation
view the entire world as a collection of differing markets that need to be addressed similarly to to reflect worldwide integration.
McDonalds brand, but with menu changes
Oligopoly
a state of limited competition, in which a market is shared by a small number of producers or sellers
Self Reference Criterion
reference of individuals to their own national and local norms, kowledge, experience and the decision making process
Ethnocentrism
judge other cultures only from perspectives of their home culture, and typically judge home culture to be superior to others
Rostow/Western Moderinization Model
Model of economic development in stages of functionality Traditional Society Transitional Society Take-Off The drive to maturity High mass consumption
Traditional Society
economy is dominated by agriculture and little productivity occurs
Transitional Society
emergence of modenr manufacturing increasing productivity. need to establish banks/currency, education and entreprenuerial endeavors begin
Take off
growth is the norm, income increases, emergence of leading sectors
Drive to Maturity
techonolgy is fully adoprted, economy produces what is needs and country begins to look across borders for development, companies seek out new markets
High Mass Consumption
shift into durable goods, increased allocation to social welfare, masses can afford goods above necessities
Marxist/Leninist/Maoist Model
endorses the collective, typcially in low and middle development countries and discourages outside development, distribution of income, welfare and economic justice
Primitive Society
Slavery Based Society
Feudalism
Primitive Society
tribal ownership of production which are minimal focused on benefit for all, work for the welfare of the tribe
Salvery Based Society
result of tribes v tribes enslaving population, slaves built infrastructure, trades of goods and tools bewtween tribes is common
Feudalism
Lords own lands and armies, agricultural based, guilds emeging for productions and manufacturing, trading is common and currency is commonly gold
Capitalism
an emerging bourgeoisie society to a ruling class, and imperialism, where a capital loses identiry by becoming an international trade hub
Socialism
two stages, gradual dissapearance of private property to state property (China), into state ownership of all production and property aside from home and mode of transport
Communism
all production and property are state or co-op owned, no private property. State distributes all based on “needs”, individuals no longer desire to own private property. never accomplished
