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International Marketing > Key parts to remember > Flashcards

Key parts to remember Flashcards

1
Q

The three levels of the product

A

Core customer value

Actual product

Augmented product

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2
Q

Types of consumer product

A

Convenience

Shopping

Speciality

Unsought

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3
Q

Types of industrial product

A

Material part

Capital items

Supplies and services

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4
Q

Two ways a company can expand its product line

A

Line filling

Product line stretching

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5
Q

The 4 important dimensions of the product mix

A

Width

Length

Depth

Consistency

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6
Q

4 special service characteristics

A

Service intangibility

Service inseparability

Service variability

Service perishability

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7
Q

4 measurements of brand strength

A

Differentiation

Relevance

Knowledge

Esteem

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8
Q

Major brand strategy decisions

A

Brand positioning

Brand name selection

Brand sponsorship

Brand development

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9
Q

2 ways a company can obtain new products

A

Acquisition

New product development

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10
Q

8 steps of new product development

A

Idea generation

Idea screening

Concept development and testing

Marketing strategy development

Business analysis

Product development

Test marketing

Commercialisation

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11
Q

Major pricing strategies

A

Customer value based pricing

Cost based pricing

Competition based pricing

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12
Q

New product pricing strategies

A

Market skimming pricing

Market penetration strategy

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13
Q

5 product mix pricing situation

A

Product line pricing

Optional product pricing

Captive product pricing

By product pricing

Product bundle pricing

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14
Q

The 7 price adjustment strategies

A

Discount pricing

Segmented pricing

Psychological pricing

Promotional pricing

Geographic pricing

Dynamic pricing

International pricing

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15
Q

5 types of geographical pricing

A

FOB origin pricing

Uniform delivered pricing

Zone pricing

Basing point pricing

Freight absorption pricing

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16
Q

2 types of channel conflict

A

Horizontal

Vertical

17
Q

The 4 types of channels

A

Conventional distribution channel

Vertical marketing system

Horizontal marketing system

Multichannel distribution system

18
Q

Marketing channel design involves

A

Analysing consumer needs

Setting channel objectives

Identifying major channel alternatives

Evaluating those alternatives

19
Q

Marketing channel management needs:

A

Selecting channel members

Managing and motivating channel members

Evaluating channel members

20
Q

Major logistics functions of a company

A

Warehousing

Inventory management

Transportation

Logistics information management

21
Q

The 6 major decisions in international marketing

A

Looking at the global marketing environment

Deciding whether to go global

Deciding which markets to enter

Deciding how to enter the market

Deciding on the goal marketing program

Deciding on the global marketing organisation

22
Q

The 3 modes of entry a company can use to enter the market

A

Exporting

Joint venturing

Direct investment

23
Q

Joint venturing

A

Licensing

Contract manufacturing

Management contracting

Joint ownership

24
Q

The 5 strategies for adapting a product and marketing communication strategies to global markets

A

Straight product extension

Product adaptation

Product invention

Dual adaptation

Product invention

25
Q

The 5 major promotion tools

A

Advertising

Sales promotion

Personal selling

Public relations

Direct and digital marketing

26
Q

The 6 buyer readiness stages

A

Awareness

Knowledge

Liking

Preference

Conviction

Purchase

27
Q

The 4 common methods used to set the total budget for advertising

A

Affordable method

Percentage of sales method

Competitive parity method

Objective and task method

28
Q

The 2 basic promotion mix strategies

A

Push strategy

Pull strategy

29
Q

Major advertising decisions

A

Informative

Persuasive

Reminder

30
Q

The types of media mediums

A

Television

Digital, mobile, and social media

Newspapers

Magazines

Radio

Outdoor

31
Q

Major steps for sales force management

A

Designing sales force strategy and structure

Recruiting and selecting salespeople

Training salespeople

Compensating salespeople

Supervising salespeople

Evaluating salespeople

32
Q

Personal selling process

A

Prospecting

Preapproach

Approach

Presentation

Handling objections

Closing

Follow up

33
Q

Sales promotion includes:

A

Customer promotions

Trade promotions

Business promotions

Sales force promotions

34
Q

The main consumer promotion tools

A

Samples

Coupons

Refunds

Premiums

Point of purchase displays

Contests

Sweepstakes

Event sponsorships

35
Q

The main trade promotion tools are

A

Contests

Premiums

Displays

Discount

Allowance

Free goods

Push money

Specialty advertising items

International Marketing (13 decks)

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