Marketing Chapter 19 Vocab – Flashcards
Unlock all answers in this set
Unlock answersquestion
operates in more than one country, o Gains marketing, production, R&D, and financial advantages not available to purely domestic competitors
answer
Global firm
question
manufacturing accounts for 10 to 20 percent of the country's economy
answer
Industrializing economies
question
major exporters of manufactured goods, services, and investment funds
answer
Industrial economies
question
when a firm contracts with manufacturers in the foreign market to produce its product or provide its service
answer
Contract manufacturing
question
development of foreign-based assembly or manufacturing facilities and offers a number of advantages
answer
Direct investment
question
international marketing strategy for usig basically the same marketing strategy and mix in all of the company's international markets
answer
Standardized global marketing
question
involves adjusting the marketing strategy and mix elements to each international target market, bearing more costs but hoping for a later market share and return
answer
Adapted global marketing
question
means marketing a product in a foreign market without any change
answer
Straight product extension
question
involves adapting the product to meet local conditions or wants in foreign markets
answer
Product adaptation
question
consists of creating something new for a specific foreign market
answer
Product invention
question
global communication strategy of fully adapting advertising messages to local markets
answer
Communication adaptation
question
involves adapting both the product and the advertising messages to the target foreign market
answer
Dual adaptation
question
Is the same price in all markets but does not consider income or wealth where the price may be too high in some or not high enough in other markets
answer
Uniform pricing
question
price the market can pay but does not consider actual costs
answer
Market-based pricing
question
price based on a percentage of cost but can cause problems in countries with high costs
answer
Standard markup pricing
question
involves designing international channels that take into account the entire global supply chain and marketing channel
answer
Whole-channel view
question
move company products from points of production to the borders of countries within which they are sold
answer
Channels between nations
question
move the products from their market entry points to the final consumers
answer
Channels within nations
