What is Marketing?

Question 1

Marketing

Answer 1

Is all the activities involved in getting goods and services from the producer to the ultimate consumer such as:
- Market research
- Product development
- Pricing
- Advertising and promotion
- Sales
- Logistics (distribution)

Question 2

International Marketing

Answer 2

• Is the application of marketing principles to more than one country.
• Marketing to people or companies outside of your own domestic market.

Question 3

Economic marketing factors

Answer 3

• To be an attractive foreign market, a country must have an economy that provides an income to its citizens.
• Marketers look at wages and prices to determine if a market exists.

Question 4

Disposable/Discretionary Income

Answer 4

income left over after necessary
expenses (needs) are paid for.

Question 5

Discretionary Buying = Purchasing Power

Answer 5

ability to purchase non-essential items (wants)

Question 6

Consumer factors

Answer 6

International marketers must develop an image of the ideal local consumer - target market
Consists of a:
1. Demographic profile: Age, gender, family lifestyle, income, etc
2. Motivational profile
3. Purchasing profile

Question 7

International marketing research

Answer 7

Market research collects, analyzes and interprets data used to make marketing decisions.

Question 8

Secondary Data

Answer 8

Data collected by another source
The Internet
Newspapers, magazines, publications

Question 9

Primary Data

Answer 9

Data collected first-hand