W3: Lecture slides Flashcards
Trump’s tariffs
Have made business planning almost impossible. Companies need to; (1) Ensure organisations are prepared with country-of-origin documentation, (2) Analyse the feasibility of your manufacturing locations, and (3) Rethink the trading blocs in which you do business
Marketing mix
Product, price, promotion, and place. It is the link between analytics, marketing, and R&D
Intermarket segment
Enhances the ability of an international business to view the global marketplace as a single entity and pursue a global strategy
“Small data” and “big data”
Both used to better understand a company’s current products and services in the global marketplace
Global companies
Often have an in-house department of international market research
Basic data collected
(1) Data on the country and potential market segments, (2) Data to forecast customer demands within specific country or world region, and (3) Data to make marketing mix decisions
Diamond framework
A model that addresses management challenges in creating value from business operations
Typical distribution system
Has a channel with a wholesale distributor and a retailer. The firm may sell directly to the consumer, the reailer, or the wholesaler. The firm may sell to an import agent who then deals with the wholesale distributor, retailer, or consumer
Fragmented retail system
More common in developing countries due to geography and even road conditions
Channel quality
Not consistent in emerging markets and less developed nations
Country of origin effects
Not always negative. The company should use promotional messages that stress the positive performance attributes of the product
Noise levels
Lower in developing countries because there are fewer firms competing for attention
Channel length
More intermediaries can elad to inertia in the channel
Price discrimination
Means charging what the market will bear
Predatory pricing
Requires the firm to have a profitable position in another market to subsidise the aggressive pricing process
Multipoint pricing
Can be aggressive, eliciting a competitive response
Competition policy
Can be used to limit the prices a firm can charge in a given country
Antidumping regulations
Set a floor under export prices and limit firms’ ability to pursue strategic pricing
New product success
A product of international marketing, R&D, manufacturing, and technological innovation
