Short Answers Flashcards
What are the major considerations in company’s decision to pursue global marketing opportunities?
In general, global marketing strategies encompass three basic decision areas faced by individual organizations: (1) whether or not to engage in foreign trade; (2) what specific markets should be served, including product, geographic, and demographic markets; and (3) how to participate in chosen markets, including strategies related to product planning, financing, promotion, distribution, and price.
What are the marketing approaches available once a company decides to expand globally?
Doing business internationally can take the form of exporting, licensing, a joint venture or manufacturing, but whatever form you choose, the basic business rules apply: assess customer demand, gain legal and accounting assistance, protect intellectual property and obey regulations.
What are some of the major social criticisms of marketing?
Thereare six primary criticisms leveled at the marketing function by consumers, consumer advocates,and government agencies.i.Harming consumers through high prices.ii. Deceptive practices.iii. High-pressure selling.iv. Shoddy or unsafe products.v. Planned obsolescence.vi. Poor service to disadvantaged consumers.
What can the consumer public do to help regulate marketing practices?
The Division of Advertising Practices protects consumers from unfair or deceptive advertising and marketing practices that raise health and safety concerns, as well as those that cause economic injury. Consumers can participate in movements like consumerism, environmentalism, etc
What is the concept of socially responsible marketing, and how can marketers help to advance this business perspective?
a marketing philosophy that states a company should take into consideration what is in the best interest of society in the present and long term. 1) Do Good for Good, Not PR. 2) Think Long-Term, Not Short-Term. 3) Voice Your Concerns & Ideas
What are the major decisions for the marketer in designing and managing the sales force?
a. Designing Sales Force Strategy and Structure
Marketing managers face several sales force strategy and design questions. How should
salespeople and their tasks be structured? Territorial sales force structure is a sales force
organization that assigns each salesperson to an exclusive geographic area and sells the company’s
full line products and services to all customers in that territory. Sales force management is the analysis, planning, implementation, and control of sales force activities.
It includes:
1. Designing sales force strategy and structure,
2. Recruiting, selecting
3. Training
4. Compensating
5. Supervising
6. Evaluating the firm’s salespeople
What are the major steps in the personal selling process, and how can the salesperson be most effective with each step?
The personal selling process is an eight step approach that has been found to be beneficial in sales. The eight steps are: Prospecting Pre-approach Approach Need assessment Presentation Meeting objections Gaining commitment Following up
What is the nature of direct marketing and what are some of the forms used to accomplish it?
Direct marketing is a channel-agnostic form of advertising that allows businesses and nonprofits organizations to communicate straight to the customer, with advertising techniques that can include cell phone text messaging, email, interactive consumer websites, online display ads, database marketing, fliers, catalog distribution, promotional letters, targeted television commercials, response-generating newspaper/magazine advertisements, and outdoor advertising.
What is the importance of the digital age? How has it been shaped and how will it likely continue to shape the marketing process?
- Consumers are willingly leaving digital trails of their consumption habits and agencies will risk losing clients if they’re unable to tailor campaigns that reflect targeted demographics.
- “Creative types” typically need to back up their super buzzy Super Bowl commercial ideas with a digital or social-media plan that will have measurable results.
- Those who buy ads on digital platforms no longer need to be adept at verbal wheeling and dealing — instead, they need to know how to use automated trading systems that simply take the highest bid.
“The digitization of the world has had a tremendous impact on advertising strategy, the advertising business and relationships in advertising,” says Steve Farella, a 30-year ad industry veteran who is now CEO of media company holding group Maxxcom Global Media.
What are the benefits of the internet to various marketing stakeholders? What are the four major internet domains? How do they support the marketing process?
The four major internet domains are B2B, B2C, C2B, and C2C.
What are the differences among e-business, e-commerce, and e-marketing? How will these online business processes impact a company’s relationships with its traditional retailers?
Based on the various definitions for E-Commerce and E-Business, mentioned above, the concept of E-Business goes beyond the narrow understanding associated with the term E-Commerce. Within this context, E-Commerce characteristically relates to the process of buying and selling products, services and information through the use of the Internet and/or computer networks (Chaffey, 2007; Lesjak and Vehovar, 2005; Greenstein and Feinman, 2000 and Turban et al., 2004). Moreover, according to Rodgers (Rodgers, Yen, & Chou, 2002), E-Commerce principally focuses on the organisation customers while E-Business expands the connectivity of the organisation to include not only its customers but also the organisation suppliers, employees and business partners. Some companies are using the Internet to make direct connections with their
customers for the first time. Others are using secure Internet connections to intensify
relations with some of their trading partners, and using the Internet’s reach and
ubiquity to request quotes or sell off perishable stocks of goods or services by
auction. Entirely new companies and business models are emerging in industries
ranging from chemicals to road haulage to bring together buyers and sellers in
super-efficient new electronic marketplaces.
