BMGT392 Quiz#9 – Flashcards

The set of choices the firm offers to its targeted markets is known as the marketing mix.

1) Product, 2) Place (Distribution), 3) Pricing, and 4) Promotion (Communication).

• The continuing persistence of cultural and economic differences between nations acts as a major brake on any trend toward global consumer tastes and preferences. Eg. In developed countries, consumers are willing to pay more for products that have additional features and attributes customized to their tastes and preferences.

• It refers to identifying distinct groups of consumers whose purchasing behavior differs from others in important ways.

: The way a product is delivered is determined by a firm's entry strategy, trying to define the optimal channel for delivering a product to the consumer

Can be concentrated or fragmented in different countries

A channel is considered to be long when a producer sells through an important agent, a wholesaler and a retailer

Channel exclusivity is one that is difficult for outsiders to access

Refers to the selling capability and skills of the retailers

Personal selling: It makes sense when distribution channels are short. Involves taking the product to the consumer

Mostly depends on mass media. Involves engaging the consumer to seek out the product/brand

The choice depends upon: a) Product type and consumer sophistication; b) Channel length; and 3) Media availability

occur when potential consumers evaluate the product on the basis of status of image of the promotion message.

The extent to which the place of manufacturing influences product evaluations.