Révision Flashcards

Question

Appadurai 5 scapes I mean the global configuration, also ever so fluid, of technology, and of the fact that technology, both high and low, both mechanical and informational, now moves at high speeds across various kinds of previously impervious boundaries.

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Technoscape

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Finanscape

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Mediascape

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Is one of the central forces of the modern world, since it brings laboring populations into the lower class sectors and spaces of relatively wealthy societies, while sometimes creating exaggerated and intensified senses of criticism or attachment to politics in the home-state.

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I mean an illusion created by contemporary transnational production loci, which masks translocal capital, transnational earningflows, global management and often faraway workers (engaged in various kinds of high-tech putting out operations) in the idiom and spectacle of local (sometimes even worker) control, national productivity and territorial sovereignty.

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I mean to indicate here that the consumer has been transformed, through commodity flows (and the mediascapes, especially of advertising, that accompany them) into a sign, both in Baudrillard's sense of a simulacrum which only asymptotically approaches the form of a real social agent; and in the sense of a mask for the real seat of agency, which is not the consumer but the producer and the many forces that constitute production.

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Members of the youth market interpret and rework global cultural practices and meanings to fit into their local contexts. Consumption practices are inscribed in local, historically constituted cultural discourse of youth cultural consumption, modernity, and globalization. Structures of Common Difference

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General Agreement on Tariffs and Trade (GATT

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World trade organization (WTO)

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Preferential trade agreement (PTA)

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is formed when two or more countries agree to eliminate tariffs and other barriers that restrict trade.

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in addition to eliminating internal barriers to trade, members of a customs union agree to the establishment of common external tariffs (CETs).

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is the next level of economic integration. Also allows free movement of factors of production, including labor and capital.

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Builds upon the elimination of internal tariff barriers, the establishment of common external barriers, and the free flow of factors.

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- Learned behavior - Culture can be understood as ways of living, built up by a group of human beings, that are transmitted from one generation to another. - A guide for communication and interaction

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High context : Japan Low context : USA

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High context : Less important Low context : Very important

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High context : is his or her bond Low context : is not relied upon "get it in writting"

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High context : Taken by highest level Low context : pushed to lowest level

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High context : People breathe on each other Low context : People maintain a bubble of private space and resent intrusions

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High context : Polychronic - everything in life must dealt with in terms of its own time Low context : Monochronic - Time is money, linear - one thing at time

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High context : Are lengthy - importance to know each other Low context : Quickly

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High context : Unfrequent Low context : Common

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The extent to which the less powerful members of a society accept—even expect—power to be distributed unequally. (high: France, low: Sweden)

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The extent to which the members of a society are uncomfortable with unclear, ambiguous, or unstructured situations. (high: Italy, low: Canada)

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A society in which men are expected to be assertive, competitive and concerned with material success and women fulfill the role of nurturer and are concerned with issues such as the welfare of children. Achievement : USA, Japan Nurturing : France, Sweden

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Concerned with their own interests and those of his immediate family. individualistic: USA, EU collectivist: Asia

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Degree of stress placed on virtuous living in this world à methodological flaws and philosophical flaws = much used Long term : people look to the future Short term : people value tradition and past doute !!! Short term : Germany, USA, Canada Long term : China, Japan, Taiwan

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Awarness - Interest - Evaluation - Trial - Adoption

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Relative advantage / Compatibility / Complexity / Divisibility / Communicability

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``` Innovators Early adopters Early majority Late Majority Laggards ```

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The extent to which products must be adapted to the culture- specific needs of different national markets

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the possibility of change in a country’s political environment or government

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governmental action to dispossess a foreign company or investor.

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occurs when the government takes control of some or all of the enterprises in a particular industry

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is a formal legal document that gives an inventor the exclusive right to make, use and sell an invention for a specific time

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distinctive mark, motto, device that a manufacturer affixes to a particular product

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establishes ownership of a written, recorder or filmed creative work

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unauthorized copying and production of a product.

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An undiscovered market

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market that will emerge if a particular economic, demographic, political or sociocultural trend continuous

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- Information requirement - problem definition - Choose unit of analysis - Examine data availability - Asses value of research - Research design - Data analysis/interpretation - Presentation

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- Directive on data collection on Europe - Safe harbor agreement for US and EU - Global perspective - Ad blockers

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An effort to identify and categorize groups of customers and countries according to common characteristics

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Process of evaluating the segments and focusing marketing efforts on a country, region or group that can respond.

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differentiate the product or brand in the minds of target customers

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* Geographical = where you live * Demographic = income, gender, ethnicity * Psychographic = lifestyle, personality, attitudes, values • Behavior segmentation = whether people buy and use a product as how often and how much they consume • Benefit segmentation = the benefit a product gives, value equation • Ethnic segmentation = language, background

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* Profitable * Quantifiable (measurable) = how many consumers are going to fast food restaurants * Available = many companies available * Clear common characteristics for a segment = who eats meet, who are veg. * Clear differences between segments

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* Current segment size and growth potential * Potential competition * Feasibility and compatibility (law barrier, etc.)

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mass marketing in a single country

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devising a marketing mix to reach a niche

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targeting two or more distinct market segments with multiple marketing mix offerings

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* Attribute or benefit = a particular product attribute, benefit or feature (Volvo, safety) * Quality and price = high-fashion, high price or low quality, low price * Use or user =how a product is used or associates the brand with a user or class of user * Competition = niche

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As a strategy that identifies a brand as a symbol of a particular global culture or segment

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the brand’s users, use occasions or production origins with a foreign culture or country.

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associates the brand with local cultural meanings, norms

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Licensing = is a contractual arrangement whereby one company (the licensor) makes a legally protected asset available to another company (the licensee) in exchange for royalties, license fees or some other form of compensation. Investment = desire to have partial or full ownership of operations outside the home country

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- Contract manufacturing = provide technical specifications to a subcontractor or local manufacturer. The subcontractor then oversees production. - Franchising = is a contract between a patent company/franchiser and a franchisee that allows the franchisee to operate a business developed by the franchiser in return for a fee and adherence to franchise-wide policies and practices.

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- Foreign direct investment (FDI) = reflect investment flows out of the home country as companies invest in or acquire plants, equipment or other assets. - Joint ventures = entry strategy for a single target country in which the partners share ownership of a newly created business entity. Sharing risk. - Investment via equity stake or full ownership = equity is an investment with a minority stake or majority stake and full ownership is 100 percent.

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LOW ``` Exporting Licensing Contract manufacturing Joint venture Equity stake or acquisition ``` STRONG

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expand by seeking new markets in existing countries or seeking new country markets for already identified and served market segments.

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targeting a limited number of customer segments in a few countries

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a company serves many markets in a few countries

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classic global strategy whereby a company seeks out the world market for a product

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corporate strategy of a global, multi-business company such as Matsushita

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1. Ongoing contributions 2. Independence of participants 3. Shared benefits

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1. Mission = win-win situation when participants pursue objectives as a basis of mutual need or advantage 2. Strategy = Strategy must be thought out to avoid conflicts 3. Governance = Discussions and consensus must be the norm, partners must be view as equal 4. Culture = Personal chemistry is important with shared values 5. Organization = Innovative structures and designs may be needed to offset the complexity of multicountry management 6. Management = Authority should be well established and divisive issues must be identified. Need a common commitment

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* Standardization = To attain a low-cost position, the optimum global marketing strategy is to sell standardized products using standardized marketing programs. Economics of scale * Configuration-coordination = exploit the synergies that exist across different country markets as well as the comparative advantages associated with various host countries. To be effective in global competition, a firm must configure its value-chain activities optimally and coordinate its efforts in different market. (Porter) * Integration = It is concerned with how a firm's competitive battles are planned and executed across country markets. According to this view, a key to global marketing success is participation in all major world markets to gain competitive leverage and effective integration of the firm's competitive campaigns across these markets.

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Goods, services or idea with both tangible and intangible attributes that collectively create value for a buyer or user

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perceptions about a brand as reflected by brand associations | that consumers hold in their memories

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The total value that accrues to a product as a result of a | company’s cumulative investments in the marketing of the brand

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creates these products or brand to cater to the needs | and preferences of particular country markets / offered in a single market

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offered in several markets in a particular region

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positioning throughout the world with the same name

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• Brand image = Brand awareness, Brand associations: What customers think and memorize about a brand - involves feelings, experiences, beliefs attitudes & knowledge. • Brand strength = Price premium, Volume premium, Purchase intent, Customer satisfaction, Customer loyalty: How customers behave, or intends to behave, towards the brand. • Brand value = Cashflow Profit Growth

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Quality signal

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Global myth

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Social responsibility

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– Standardizing = Viewing the entire world as one (global) market, and therefore executing the same brand strategy across the globe (E.g. Gillette) – Adapting = There is no such thing as a global consumer therefore we need to push down all the branding decisions on a local level catering to local tastes, emotions and demands (E.g. Nestlé)

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• Tiered branding (e.g. Sony Walkman) = combining branding to leverage a company’s reputation while developing a distinctive identity for a line of products. • Co-branding (e.g. Intel and Hewlett Packard) = two or more companies collaboration ex : Versace and H&M • Brand extensions (e.g. Apple starting to make TV:s or stereos) = extend your brand to other markets.

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Maslow's need hierarchy

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- Physiological - Safety - Social - External and internal esteem - Self actualization

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Country-of origin effect = they become part of a brand’s image and contribute to brand equity.

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Product extension Communication adaptation strategy

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Dual adaptation strategy

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dual extension strategy

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Product adaptation Communication extension strategy

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Innovation

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Market-based pricing • Customer value • Costumer alternative situation Cost-based pricing • Production cost

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Low price à Cover costs

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Adjust price à Pricing competition during maturity phase

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setting price levels that are low enough to quickly build market share Low initial price – Big sales volume to get market shares

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attempt to reach a market segment that is willing to pay a premium price for a particular brand or a special product. High initial price – Image and exclusivity

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companies who doesn’t want to lose market shares and are using the flexible cost-plus method to reduce prices to unfavorable currency swings

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buyers are able to comparison shop easily because goods will be priced in euros as opposed to mars, francs or lira.

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per-unit price of product is same in the world

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permits subsidiary or affiliate managers or | independent distributor to establish whatever price they feel is most appropriate.

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intermediate course for action. The realization that unique local market factors should be recognized when arriving at pricing decisions. Cost, income, competition

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Price fixing

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Transfer pricing

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Advertising appeal = communications approach that relates to the motives of the target audience * Rational appeal = logic an speak to the audience’s intellect * Emotional appeal = effecting the audiences emotions

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Selling proposition

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Public relation

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1. Company organization = centralized or decentralized ? 2. National responsiveness = Is the global agency familiar with local culture or should a local selection be made ? 3. Area coverage = Does the candidate agency cover all relevant markets ? 4. Buyer perception = what kind of brand awarness does the company want to project ?