Global Marketing Terminology Flashcards
Learn global marketing language
Enterprise
(N)
A business or company
SME
Small or Medium Enterprise
LSE
Large Scale Enterprises
Pedagogy
the method and practice of teaching, especially as an academic subject or theoretical concept
Incrementally
In regular increases, additions or stages
Ad hoc
When necessary or needed
Homogeneous
Of the same kind or alike
Autonomy
Right to self govern or control
Exploit
make full use of and derive benefit from (a resource
Globalization
Reflects the trend of firms buying, developing, producing and selling products and services in most regions of the world.
Making products to sell around the world
Integrated
of an institution, body, etc.) desegregated, especially racially.
“integrated education”
with various parts or aspects linked or coordinated.
“an integrated public transport system
Global Integration
Recognizing similarities between international markets and integrating them into the overall global strategy
Market Responsivness
Responding to each market’s needs and wants.
Deglobalization
Moving away from globalization trends and regarding each market as special, with its economy, culture and religion.
Value Chain
A categorization of the firm’s activities providing value to customers and profit for the company.
Campaign
Planned set of public relations activities, normally over a limited period of time and with a specific objective, addressing a particular issue
Analytical
relating to or using analysis or logical reasoning
Low context cultures
Rely on spoken and written languages for meaning
High-contrast cultures
Use and interpret more of the elements surrounding the message to develop their understanding of the message
Aesthetics
Refers to attitudes towards beauty and good taste in the art, music, folklore and drama of a culture.
Egalitarian
believing in or based on the principle that all people are equal and deserve equal rights and opportunities.
Product
Anything that is capable of satisfying customer needs
Brand
Is a distinctive product offering created using a name, symbol, design, packaging or some combination of these, intended to differentiate from competitors
Product line
A group of brands that are closely related in terms of the functions and benefits they provide
Product mix
Is the total set of products marketed by a company
Manufacturer
Manufacturer brands are created by producers and bear their chosen brand name
Open-Label brands
Creates and owned by distributors (e.g. supermarkets)
Core product
Anything that provides the central benefits required by customers
Augmented product
Produced by adding extra functional and/or emotional values to the core product, and combining them in a unique way to form a brand.
Brand equity
A measure of the strength of a brand in the marketplace by adding tangible value to a company through the resulting sales and profits
Customer-based brand equity
Brand awareness and brand image
Proprietary-based brand equity
Patents and channel relationships
Brand valuation
The process of estimating the financial value of an individual or corporate brand
How to build strong brands
- building quality into one core product, creating a unique position in the marketplace
- repositioning to take advantage of new opportunities
- using well-blended Communications to create a clear position in the minds of the target audience
- being first into the market with a unique marketing position
Conceptual framework
Represents the researcher’s synthesis of literature on how to explain a phenomenon. It maps out the actions required in the course of the study given his previous knowledge of other researchers point of view and his observations on the subject of the research.
Theoretical literature review
Involve working with studying theories that have already been written about. You can compare and contrast the existing work, analyze it, and pick out their strengths and weaknesses in research, and then form your own opinion.
Empirical lit review
Reviewing evidence based on actual scientific experiments, which could be repeated by someone else to check that the results are accurate
Seminal
Strongly influencing later developments
Exploit
make full use of and derive benefit from (a resource)
