Lecture 3 Flashcards
What are the main components of opportunity analysis in global marketing?
Global customers, competitive analysis, and international marketing information systems.
What is a key product strategy in the EU?
Harmonization of product standards, common branding, and standard packaging.
How is pricing managed in the EU?
Through removal of restrictions and anti-monopoly regulations.
What are the five original economic tigers?
Hong Kong, Japan, South Korea, Taiwan, and Singapore.
What is diaspora marketing?
Marketing aimed at emigrants and their descendants with consideration of brand appeal and origin perceptions.
What are the segments of diaspora consumers?
Assimilator, Migrant, Ethnic Affirmer, Biocultural.
What are the five stages of the adoption process in diffusion theory?
Awareness, Interest, Evaluation, Trial, Adoption.
List Rogers’ characteristics of innovation.
Relative advantage, compatibility, complexity, divisibility, communicability.
What are Porter’s five forces?
Threat of new entrants, threat of substitutes, bargaining power of suppliers, bargaining power of buyers, competitive rivalry.
What are the four determinants of national competitive advantage?
Factor conditions, demand conditions, related and supporting industries, firm strategy and rivalry.
What additional forces affect the diamond?
Government and chance.
What is hypercompetition?
A fast-paced environment where no advantage is sustainable, requiring focus on cost, quality, timing, and innovation.
What is the function of a global marketing information system (GMIS)?
To gather, analyze, and report continuous information on markets, customers, and competitors.
What are common sources of market information?
Human, documentary, internet, market research firms, direct perception.
List the steps in formal market research.
- Identify problem 2. Develop plan 3. Collect data 4. Analyze data 5. Present findings.
What are the advantages of online research?
Low cost, faster results, accuracy, no interviewer bias.
What are the types of emerging markets?
Latent market (not yet offered), incipient market (present but needs development).
