346 terms in Topic3
Making Marketing Decisions: the Marketing Mix
Borrowing cost influenced by: central bank policy, risk, inflation expectations.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Organization between producer and consumer.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Between or among nations; across borders.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Global communication network enabling worldwide connectivity.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Government action affecting economy: regulation, taxation, spending, subsidies.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Buying assets in foreign country.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Profit/gain from investment.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Specialized language/terminology used in business.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Employment opportunity generation.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Major customer providing significant revenue.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Economy based on knowledge/information rather than manufacturing.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Sharing knowledge from one entity/country to another.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Expense of employing workers; wages, benefits, training, administration.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Total employed/unemployed people available for work.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Movement of workers between countries seeking employment.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Rules/norms for working conditions: wages, hours, safety, rights.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Manufacturing at high volume; mass production.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Benefit of entering market late after pioneers.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Legal rules governing business: company law, employment law, contract law, consumer protection, competition law.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Temporary or permanent employee separation from employment.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Forefront of innovation/technology; most advanced.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Efficiency improvement as people gain experience doing task.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Framework of laws, courts, enforcement governing society/business.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Granting right to use intellectual property/brand/technology.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Ability to read and write.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Legal dispute resolution through court process.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Advocating interests to policymakers.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Company primarily serving local market; limited geographic scope.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Regulation requiring business to source specific percentage locally.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Economic activity in specific geographic area (city, region, country).
Marketing Management
Making Marketing Decisions: the Marketing Mix
Adapting product/service for local market.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Graphic symbol/design representing brand.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Extended time period; typically years (3+ years).
Marketing Management
Making Marketing Decisions: the Marketing Mix
Product imitating established brand without being identical.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Product sold at loss to attract customers/drive traffic.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Operating with minimum costs; competing on price.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Repeat purchase/support; customer returning to business.
Marketing Management
Making Marketing Decisions: the Marketing Mix
High-end products/services targeting affluent customers.
Marketing Management
Making Marketing Decisions: the Marketing Mix
(Mergers and Acquisitions).
Marketing Management
Making Marketing Decisions: the Marketing Mix
Equipment used in production.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Large-scale economic factors affecting overall economy.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Difference between selling price and cost; profit.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Ability to enter/operate in market.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Economy where price/supply-demand determine allocation.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Entering new geographic/product market.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Market inefficiency; not producing socially optimal outcome.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Investigating market/customers to inform decisions.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Characteristics of market affecting competition.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Four elements of marketing strategy (4Ps):.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Location/platform where buying/selling occurs.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Amount added to cost to determine selling price.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Umbrella brand covering multiple products/lines.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Tangible substance used in production.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Market at peak/declining phase; established, limited growth.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Quantifying variables for analysis/evaluation.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Channels for communication/marketing: TV, radio, print, digital, social.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Measurable standard for evaluation.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Country in North America; significant trading relationship with US/Canada (NAFTA/USMCA).
Marketing Management
Making Marketing Decisions: the Marketing Mix
Small-scale economic factors affecting individual/firm.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Income level between low and high income countries.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Movement of people from one place/country to another for residence/work.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Armed forces; government military presence.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Simplest version of product with essential features enabling customer feedback.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Lowest legally allowed wage employers pay workers.
Marketing Management
Making Marketing Decisions: the Marketing Mix
(Multinational Corporation).
Marketing Management
Making Marketing Decisions: the Marketing Mix
Ability of workers to move between jobs/locations.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Simplified representation of real situation.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Updating/improving to current standards/technology.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Medium of exchange; currency for transactions.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Ability to control price due to lack of competition.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Right vs. wrong; ethical standards.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Long-term loan for property purchase, secured by property.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Trade status granting best treatment offered to any country.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Factor encouraging action/performance.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Flow of investment money between countries/markets.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Operating across multiple nations.
Marketing Management
Making Marketing Decisions: the Marketing Mix
(already covered).
Marketing Management
Making Marketing Decisions: the Marketing Mix
North American Free Trade Agreement — a trade agreement between the USA, Canada, and Mexico (now replaced by USMCA in 20
Marketing Management
Making Marketing Decisions: the Marketing Mix
A company that operates in multiple countries but does not identify with a single home country — managing its operations
Marketing Management
Making Marketing Decisions: the Marketing Mix
The removal or reduction of trade barriers (tariffs, quotas, regulations) between countries to facilitate freer internat
Marketing Management
Making Marketing Decisions: the Marketing Mix
Fundamental shifts in the composition of an economy, such as the decline of manufacturing and rise of services, often dr
Marketing Management
Making Marketing Decisions: the Marketing Mix
A domestic market condition that motivates a business to expand internationally by making continued domestic operation l
Marketing Management
Making Marketing Decisions: the Marketing Mix
An attractive condition in a foreign market that draws a business toward international expansion.
Marketing Management
Making Marketing Decisions: the Marketing Mix
A market in which demand has been largely met and there is little room for further growth, typically characterised by in
Marketing Management
Making Marketing Decisions: the Marketing Mix
Relocating business functions or production to another country to take advantage of lower costs, favourable regulations,
Marketing Management
Making Marketing Decisions: the Marketing Mix
The amount of money households have available to spend or save after direct taxes (income tax and National Insurance) ha
Marketing Management
Making Marketing Decisions: the Marketing Mix
The degree to which a country's government and political institutions are reliable, predictable, and free from sudden up
Marketing Management
Making Marketing Decisions: the Marketing Mix
A situation where the supply of workers with specific skills falls short of the demand from employers, driving up wages
Marketing Management
Making Marketing Decisions: the Marketing Mix
A global marketing strategy in which the home country's marketing approach is applied uniformly in all international mar
Marketing Management
Making Marketing Decisions: the Marketing Mix
A global marketing strategy that treats the world as a single market, developing standardised products and marketing tha
Marketing Management
Making Marketing Decisions: the Marketing Mix
A global marketing strategy that adapts products, pricing, promotion, and distribution significantly to each local marke
Marketing Management
Making Marketing Decisions: the Marketing Mix
A small but globally distributed segment of consumers with very specific needs that can be served profitably across mult
Marketing Management
Making Marketing Decisions: the Marketing Mix
Problems arising when marketing materials, product names, slogans, or instructions are translated into another language
Marketing Management
Making Marketing Decisions: the Marketing Mix
The seven elements of the marketing mix for services: Product, Price, Promotion, Place, People, Process, Physical Enviro
Marketing Management
Making Marketing Decisions: the Marketing Mix
A model showing the stages a product passes through from development to withdrawal: development, introduction, growth, m
Marketing Management
Segmentation, Targeting and Positioning
Countries' economies mutually dependent on each other.
Marketing Management
Segmentation, Targeting and Positioning
Cost advantages from large-scale production/operations globally.
Marketing Management
Segmentation, Targeting and Positioning
Achieving objectives; doing right things.
Marketing Management
Segmentation, Targeting and Positioning
Country moving from developing toward developed status.
Marketing Management
Segmentation, Targeting and Positioning
Discharge of substances into environment; typically refers to greenhouse gases.
Marketing Management
Segmentation, Targeting and Positioning
Jobs worldwide; increasingly mobile with globalization.
Marketing Management
Segmentation, Targeting and Positioning
Using famous person to promote product/brand.
Marketing Management
Segmentation, Targeting and Positioning
Method of entering foreign market.
Marketing Management
Segmentation, Targeting and Positioning
External element affecting environment: climate, resources, pollution, sustainability.
Marketing Management
Segmentation, Targeting and Positioning
Moral principles guiding global business conduct.
Marketing Management
Segmentation, Targeting and Positioning
(European Union).
Marketing Management
Segmentation, Targeting and Positioning
Profit/loss from currency exchange rate changes.
Marketing Management
Segmentation, Targeting and Positioning
Preventing market access; trade barrier effect.
Marketing Management
Segmentation, Targeting and Positioning
Selling goods/services to foreign countries.
Marketing Management
Segmentation, Targeting and Positioning
Business selling goods/services to foreign markets.
Marketing Management
Segmentation, Targeting and Positioning
External cost/benefit not reflected in market price.
Marketing Management
Segmentation, Targeting and Positioning
Trade practice ensuring fair prices, conditions for producers (especially in developing countries).
Marketing Management
Segmentation, Targeting and Positioning
Showing preference/bias for certain parties.
Marketing Management
Segmentation, Targeting and Positioning
(Foreign Direct Investment).
Marketing Management
Segmentation, Targeting and Positioning
Rapid spread of financial crisis from one country/market to others.
Marketing Management
Segmentation, Targeting and Positioning
Worldwide system trading financial instruments: stocks, bonds, currencies, derivatives.
Marketing Management
Segmentation, Targeting and Positioning
Banking, investment, insurance, payment services.
Marketing Management
Segmentation, Targeting and Positioning
Movement of investment money; direction and quantity.
Marketing Management
Segmentation, Targeting and Positioning
Direction and quantity of goods/services traded between countries.
Marketing Management
Segmentation, Targeting and Positioning
Currency/assets held by central bank for: paying international debts, stabilizing currency, intervention capacity.
Marketing Management
Segmentation, Targeting and Positioning
Business model where franchisor licenses business to franchisee in foreign country.
Marketing Management
Segmentation, Targeting and Positioning
International trade without barriers (tariffs, quotas, restrictions).
Marketing Management
Segmentation, Targeting and Positioning
(Free Trade Zone).
Marketing Management
Segmentation, Targeting and Positioning
Complete merging of operations/systems.
Marketing Management
Segmentation, Targeting and Positioning
(Gross Domestic Product).
Marketing Management
Segmentation, Targeting and Positioning
GDP divided by population; average income per person.
Marketing Management
Segmentation, Targeting and Positioning
Politics influenced by geography; competition for resources and power.
Marketing Management
Segmentation, Targeting and Positioning
Brand recognized/valued worldwide.
Marketing Management
Segmentation, Targeting and Positioning
Business operating in multiple countries; international scope.
Marketing Management
Segmentation, Targeting and Positioning
Competition at worldwide level.
Marketing Management
Segmentation, Targeting and Positioning
Financial management at global level.
Marketing Management
Segmentation, Targeting and Positioning
Worldwide customer base for products/services.
Marketing Management
Segmentation, Targeting and Positioning
Plan for marketing products/services globally.
Marketing Management
Segmentation, Targeting and Positioning
Perspective valuing global understanding, diversity, complexity.
Marketing Management
Segmentation, Targeting and Positioning
Process of increasing worldwide integration: trade, investment, communication, culture, technology.
Marketing Management
Segmentation, Targeting and Positioning
Financial/non-financial support from government attracting business.
Marketing Management
Segmentation, Targeting and Positioning
Total income earned by country residents/companies; includes income earned abroad.
Marketing Management
Segmentation, Targeting and Positioning
Increase in economic output; real GDP growth.
Marketing Management
Segmentation, Targeting and Positioning
Expansion of market size; increasing total sales.
Marketing Management
Segmentation, Targeting and Positioning
Future opportunity for market/business expansion.
Marketing Management
Segmentation, Targeting and Positioning
Percentage increase in economic/market measure over period.
Marketing Management
Segmentation, Targeting and Positioning
Foreign nationals working temporarily in another country.
Marketing Management
Segmentation, Targeting and Positioning
(Human Development Index - already covered).
Marketing Management
Segmentation, Targeting and Positioning
Strategy reducing financial risk.
Marketing Management
Segmentation, Targeting and Positioning
Reporting structure across multiple countries; global organization design.
Marketing Management
Segmentation, Targeting and Positioning
Country where foreign business operates.
Marketing Management
Segmentation, Targeting and Positioning
Progress in human wellbeing; life expectancy, education, income.
Marketing Management
Segmentation, Targeting and Positioning
Technology enabling global communication, data processing, business operations.
Marketing Management
Segmentation, Targeting and Positioning
Buying goods/services from foreign countries.
Marketing Management
Segmentation, Targeting and Positioning
Business purchasing goods/services from foreign suppliers.
Marketing Management
Segmentation, Targeting and Positioning
Money earned by individuals/organizations/countries.
Marketing Management
Segmentation, Targeting and Positioning
How income is divided among population.
Marketing Management
Segmentation, Targeting and Positioning
Amount of money earned by individual/family/country.
Marketing Management
Segmentation, Targeting and Positioning
Motivation/reward encouraging specific behavior/outcome.
Marketing Management
Segmentation, Targeting and Positioning
Legal process establishing company as separate legal entity.
Marketing Management
Segmentation, Targeting and Positioning
Country's ability to function economically without dependence on others.
Marketing Management
Segmentation, Targeting and Positioning
Measure tracking economic variable over time.
Marketing Management
Segmentation, Targeting and Positioning
Automatic adjustment of value based on index (e.g., wage indexation to inflation).
Marketing Management
Segmentation, Targeting and Positioning
Risk suggested/shown by analysis/information.
Marketing Management
Segmentation, Targeting and Positioning
Tax paid indirectly through intermediary; typically on products.
Marketing Management
Segmentation, Targeting and Positioning
Group of businesses producing similar products/services.
Marketing Management
Segmentation, Targeting and Positioning
Basic physical systems: roads, electricity, water, communications, ports.
Marketing Management
Segmentation, Targeting and Positioning
Risk existing in situation before controls/mitigation.
Marketing Management
Segmentation, Targeting and Positioning
Resource/material entering production process.
Marketing Management
Segmentation, Targeting and Positioning
Countries' economies mutually dependent.
Marketing Management
Setting Marketing Objectives
The process of increasing the worth or usefulness of a product or service beyond its basic function, allowing businesses
Marketing Management
Setting Marketing Objectives
A form of paid communication used to promote products, services, or brands to target audiences through various media (TV
Marketing Management
Setting Marketing Objectives
Systematic errors that distort research results, causing them to deviate from the true picture.
Marketing Management
Setting Marketing Objectives
The identity and reputation of a product or company, comprising name, logo, design, values, and customer perception.
Marketing Management
Setting Marketing Objectives
The rivalry between businesses offering similar products/services to the same market.
Marketing Management
Setting Marketing Objectives
Something a business does better than its rivals that makes customers choose it over others.
Marketing Management
Setting Marketing Objectives
The tendency of consumers to repeatedly purchase from the same business and resist switching to competitors.
Marketing Management
Setting Marketing Objectives
Statistical characteristics of human populations including age, gender, income, education, occupation, family size, ethn
Marketing Management
Setting Marketing Objectives
A market that is constantly changing due to innovation, new competitors, changing consumer preferences, or technological
Marketing Management
Setting Marketing Objectives
Use of Information and Communication Technology to gather and analyze market data.
Marketing Management
Setting Marketing Objectives
Market research process to discover what customers require (needs - essential products) and desire (wants - preferred pr
Marketing Management
Setting Marketing Objectives
Introduction of new ideas, products, services, or ways of doing business that create value.
Marketing Management
Setting Marketing Objectives
Expansion of total market size measured by sales value or units sold.
Marketing Management
Setting Marketing Objectives
Visual representation showing competitors' positions based on two chosen characteristics (e.g., price vs quality, luxury
Marketing Management
Setting Marketing Objectives
Business approach prioritizing customer needs and wants above all else.
Marketing Management
Setting Marketing Objectives
Strategy of placing a product/brand in consumers' minds relative to competitors.
Marketing Management
Setting Marketing Objectives
Division of a market into distinct groups of consumers with similar characteristics, needs, or behaviors.
Marketing Management
Setting Marketing Objectives
Large segment of the population willing to buy a standardized product.
Marketing Management
Setting Marketing Objectives
Small segment of consumers with specific, often specialist needs underserved by mass-market competitors.
Marketing Management
Setting Marketing Objectives
Selling products to consumers via internet/e-commerce platforms rather than physical stores.
Marketing Management
Setting Marketing Objectives
Original data collected directly from sources for a specific purpose.
Marketing Management
Setting Marketing Objectives
Non-numerical primary research focusing on understanding reasons, motivations, experiences.
Marketing Management
Setting Marketing Objectives
Numerical primary research measuring how many, how often, attitudes using numbers.
Marketing Management
Setting Marketing Objectives
Strategy of making a product distinct and different from competitors through features, quality, design, service, or bran
Marketing Management
Setting Marketing Objectives
Business approach prioritizing what the company wants to make/sell based on production capability.
Marketing Management
Setting Marketing Objectives
Non-numerical information providing description, understanding, and context.
Marketing Management
Setting Marketing Objectives
Numerical information that can be measured and analyzed statistically.
Marketing Management
Setting Marketing Objectives
Probability of a known or identifiable event occurring with measurable consequences.
Marketing Management
Setting Marketing Objectives
Number of units/people selected for research study.
Marketing Management
Setting Marketing Objectives
Existing data previously collected by others for different purposes, now analyzed for new purposes.
Marketing Management
Setting Marketing Objectives
Using social media platforms to gather customer opinions, preferences, feedback, and behaviors.
Marketing Management
Setting Marketing Objectives
Situation where outcomes cannot be predicted with certainty because variables are unknown or unmeasurable.
Marketing Management
Setting Marketing Objectives
Distinctive feature(s) or benefit(s) of a product/service that differentiates it from competitors and appeals to target
Marketing Management
Setting Marketing Objectives
Paid promotional communication affecting consumer demand by raising awareness, creating desire, or persuading purchase.
Marketing Management
Setting Marketing Objectives
Products that are purchased and used together.
Marketing Management
Setting Marketing Objectives
Money available to consumers to spend on products/services.
Marketing Management
Setting Marketing Objectives
Quantity of a product consumers are willing and able to buy at different prices in a given time period.
Marketing Management
Setting Marketing Objectives
Graphical representation showing relationship between price and quantity demanded.
Marketing Management
Setting Marketing Objectives
Population characteristics (age, gender, income, education, family size) affecting demand.
Marketing Management
Setting Marketing Objectives
Unexpected, sudden events affecting supply or demand.
Marketing Management
Setting Marketing Objectives
Consumer preferences and desires for certain products changing over time.
Marketing Management
Setting Marketing Objectives
Measure of how demand changes when consumer income changes.
Marketing Management
Setting Marketing Objectives
Taxes on products paid by producers (e.g., excise duty, VAT).
Marketing Management
Setting Marketing Objectives
Interaction of supply and demand determining prices and quantities of goods/services traded.
Marketing Management
Setting Marketing Objectives
Point where quantity supplied equals quantity demanded at a particular price.
Marketing Management
Setting Marketing Objectives
Technological advances increasing productivity and efficiency.
Marketing Management
Setting Marketing Objectives
Monetary value of a product/service.
Marketing Management
Setting Marketing Objectives
Effects of price movements on supply, demand, and market equilibrium.
Marketing Management
Setting Marketing Objectives
Measure of how sensitive quantity demanded is to price changes.
Marketing Management
Setting Marketing Objectives
Understanding what PED values mean for business: If PED = -0.5 (inelastic), 10% price rise → only 5% demand fall (revenu
Marketing Management
Setting Marketing Objectives
Fluctuation in demand for products at specific times of year.
Marketing Management
Setting Marketing Objectives
Situation where quantity demanded exceeds quantity supplied at a given price.
Marketing Management
Setting Marketing Objectives
Social media influence on consumer preferences and demand.
Marketing Management
Setting Marketing Objectives
Government financial support to producers reducing production costs.
Marketing Management
Setting Marketing Objectives
Quantity of a product producers are willing and able to provide at different prices in a given time period.
Marketing Management
Setting Marketing Objectives
Graph showing supply curve (upward-sloping) and demand curve (downward-sloping) intersecting at equilibrium point.
Marketing Management
Setting Marketing Objectives
Graphical representation showing relationship between price and quantity supplied.
Marketing Management
Setting Marketing Objectives
Products that can replace each other in satisfying customer needs.
Marketing Management
Setting Marketing Objectives
Paid communication promoting products/brands to target audiences through media.
Marketing Management
Setting Marketing Objectives
Visual appeal and appearance of a product.
Marketing Management
Setting Marketing Objectives
A tool for managing your product portfolio — which products to invest in, maintain, or drop.
Marketing Management
Setting Marketing Objectives
Plan for creating, building, and managing a brand identity.
Marketing Management
Setting Marketing Objectives
Setting prices at similar levels to competitors.
Marketing Management
Setting Marketing Objectives
Production cost considerations in design.
Marketing Management
Setting Marketing Objectives
Pricing strategy adding fixed markup percentage to unit production costs.
Marketing Management
Setting Marketing Objectives
Three key elements of product design: **Function** (what it does), **Aesthetics** (how it looks), **Cost** (price to pro
Marketing Management
Setting Marketing Objectives
Making products distinctly different from competitors through unique features, quality, design, service, or brand.
Marketing Management
Setting Marketing Objectives
Path product takes from producer to consumer.
Marketing Management
Setting Marketing Objectives
Creating brands that connect with customers' emotions and values rather than just product features.
Marketing Management
Setting Marketing Objectives
Ensuring products are produced ethically: fair wages, safe conditions, environmental protection, no exploitation.
Marketing Management
Setting Marketing Objectives
Specific, measurable goals set by the marketing function that support the overall corporate objectives of the business.
Marketing Management
Understanding Markets and Customers
Methods to extend product life cycle in maturity/decline stages. **Product extension:** modify product (new features, fl
Marketing Management
Understanding Markets and Customers
Changing consumer preferences for styles, designs, and products.
Marketing Management
Understanding Markets and Customers
What a product does; its purpose and how well it performs its intended task.
Marketing Management
Understanding Markets and Customers
Global marketing strategy adapted to local markets.
Marketing Management
Understanding Markets and Customers
Sorting products by quality, size, or standards.
Marketing Management
Understanding Markets and Customers
Marketing strategy targeting small, specific segments with specialized needs.
Marketing Management
Understanding Markets and Customers
Selling and delivering products via internet/e-commerce.
Marketing Management
Understanding Markets and Customers
Websites (Confused.com, MoneySuperMarket) comparing prices of competitors.
Marketing Management
Understanding Markets and Customers
Method for setting prices to achieve business objectives.
Marketing Management
Understanding Markets and Customers
Process of developing product features, appearance, and function to meet customer needs and competitive requirements.
Marketing Management
Understanding Markets and Customers
Stages product goes through: **Introduction** (new, few competitors, high price, low sales), **Growth** (increasing sale
Marketing Management
Understanding Markets and Customers
Strategies to extend product life beyond maturity stage.
Marketing Management
Understanding Markets and Customers
Business approach prioritizing what company can produce.
Marketing Management
Understanding Markets and Customers
Range of all products/brands a company offers.
Marketing Management
Understanding Markets and Customers
Communication activities persuading customers to buy.
Marketing Management
Understanding Markets and Customers
Setting prices using psychological principles to influence perception.
Marketing Management
Understanding Markets and Customers
Using social platforms (Facebook, Instagram, Twitter, TikTok) for promotion, customer engagement, brand building.
Marketing Management
Understanding Markets and Customers
Business pays to be associated with events, teams, individuals, or causes.
Marketing Management
Understanding Markets and Customers
Designing and producing products minimizing environmental impact: reduced materials, recyclable packaging, ethical sourc
Marketing Management
Understanding Markets and Customers
Marketing content designed to spread rapidly through social sharing, creating massive reach with minimal cost.
Marketing Management
Understanding Markets and Customers
Designing products and processes to reduce waste: less packaging, recyclable materials, efficient production, design for
Marketing Management
Understanding Markets and Customers
Rate of employees being absent from work (illness, personal issues, disengagement).
Marketing Management
Understanding Markets and Customers
Strategies to reduce employee absences: monitoring absence patterns, addressing underlying causes, disciplinary procedur
Marketing Management
Understanding Markets and Customers
Lump sum additional payment to employees based on performance, company profits, or achievements.
Marketing Management
Understanding Markets and Customers
Structure where decision-making is concentrated at senior management level.
Marketing Management
Understanding Markets and Customers
Negotiation between employer and employee representatives (unions) regarding wages, conditions, benefits.
Marketing Management
Understanding Markets and Customers
Management seeking employee input on decisions affecting them.
Marketing Management
Understanding Markets and Customers
Structure where decision-making is distributed to lower management/staff levels.
Marketing Management
Understanding Markets and Customers
Termination of employment due to employee misconduct or poor performance.
Marketing Management
Understanding Markets and Customers
Reducing workforce size to cut costs or restructure.
Marketing Management
Understanding Markets and Customers
Productivity of employees measured by: output per hour worked, cost per unit produced, turnaround time.
Marketing Management
Understanding Markets and Customers
Legal agreement between employer and employee outlining: job role, salary, hours, rights, responsibilities, conditions.
Marketing Management
Understanding Markets and Customers
Interaction and agreement between employer and employee.
Marketing Management
Understanding Markets and Customers
Organization with few hierarchy levels; many employees report to one manager.
Marketing Management
Understanding Markets and Customers
Employment arrangement allowing employees to vary working hours around core times.
Marketing Management
Understanding Markets and Customers
Employment practices using varied staffing arrangements.
Marketing Management
Understanding Markets and Customers
Small group (8-12) of target customers/employees discussing topics under moderation.
Marketing Management
Understanding Markets and Customers
Marketing Management
Understanding Markets and Customers
Various arrangements allowing employees flexibility: part-time, flexible hours, job-sharing, homeworking, compressed wee
Marketing Management
Understanding Markets and Customers
Main purpose and responsibilities of a job role.
Marketing Management
Understanding Markets and Customers
Formal process for employees to raise complaints about treatment, conditions, or management.
Marketing Management
Understanding Markets and Customers
Arrangement of positions/people by authority level.
Marketing Management
Understanding Markets and Customers
Employment arrangement where employees work from home (full-time or part-time).
Marketing Management
Understanding Markets and Customers
Power/influence held due to: expertise, respect, personality rather than official position.
Marketing Management
Understanding Markets and Customers
Marketing Management
Understanding Markets and Customers
Cost of borrowing money; paid to lenders.
Marketing Management
Understanding Markets and Customers
Subjective judgment in interviews affecting fairness.
Marketing Management
Understanding Markets and Customers
Expanding job scope horizontally; adding more tasks at same level.
Marketing Management
Understanding Markets and Customers
Two part-time employees splitting one full-time position.
Marketing Management
Understanding Markets and Customers
Expenses related to employees: wages, salaries, benefits, training, recruitment, compliance.
Marketing Management
Understanding Markets and Customers
Business/process requiring large workforce relative to capital/technology.
Marketing Management
Understanding Markets and Customers
Renting equipment/property rather than buying.
Marketing Management
Understanding Markets and Customers
Acquisition of knowledge and skills through: training, experience, observation, practice.
Marketing Management
Understanding Markets and Customers
Laws regulating employment: employment contracts, minimum wage, working hours, health/safety, discrimination, data prote
Marketing Management
Understanding Markets and Customers
Management structure where authority flows down line from senior to junior levels.
Marketing Management
Understanding Markets and Customers
Running/controlling business operations achieving objectives.
Marketing Management
Understanding Markets and Customers
Manufacturing large quantities of identical products using standardized processes.
Marketing Management
Understanding Markets and Customers
Organization structure combining functional and project-based reporting.
Marketing Management
Understanding Markets and Customers
Experienced person (mentor) guiding less-experienced person (mentee) on job, career, development.
Marketing Management
Understanding Markets and Customers
Training employees to perform multiple different job roles.
Marketing Management
Understanding Markets and Customers
Motivation methods not involving money: recognition, development opportunities, autonomy, flexible working, interesting
Marketing Management
Understanding Markets and Customers
Pricing strategy setting a high initial price when launching a new product, then gradually reducing it over time as comp
Marketing Management
Understanding Markets and Customers
Pricing strategy setting a deliberately low initial price to gain market share quickly, then raising the price once the
Marketing Management
Understanding Markets and Customers
Pricing strategy setting prices very low — often below cost — with the deliberate intent of driving competitors out of t
Marketing Management
Understanding Markets and Customers
The using up of natural resources (e.g. fossil fuels, rare minerals, forests) faster than they can be replenished, often
Marketing Management
Understanding Markets and Customers
Business-to-Business marketing — promoting products or services sold from one business to another rather than to individ
Marketing Management
Understanding Markets and Customers
Business-to-Consumer marketing — promoting products or services directly to individual end consumers.
Marketing Management
Understanding Markets and Customers
The study of how individuals make decisions to spend their available resources (time, money, effort) on consumption-rela
Marketing Management
Understanding Markets and Customers
Total value or volume of products sold in market.
Marketing Management
Understanding Markets and Customers
Strategic tool showing growth strategies based on product/market combinations.
Marketing Management
Understanding Markets and Customers
Product with high market share in low-growth market.
Marketing Management
Understanding Markets and Customers
Ansoff's Matrix strategy: entering new products and new markets.
Marketing Management
Understanding Markets and Customers
Product with low market share in low-growth market.
Marketing Management
Understanding Markets and Customers
Percentage of total market sales/units held by business.
Marketing Management
Understanding Markets and Customers
Product with low market share in high-growth market.
Marketing Management
Understanding Markets and Customers
The extent to which consumers can identify and recall a brand from its name, logo, design, or other distinguishing featu
Marketing Management
Understanding Markets and Customers
(Association of Southeast Asian Nations).
Marketing Management
Understanding Markets and Customers
Account recording all economic transactions between country and rest of world.
Marketing Management
Understanding Markets and Customers
Movement of investment money between countries.
Marketing Management
Understanding Markets and Customers
Employment of children under legal working age in unacceptable conditions.
Marketing Management
Understanding Markets and Customers
Historical period of colonization; establishing control over territories.
Marketing Management
Understanding Markets and Customers
Economic principle that countries benefit from specializing in products with lowest opportunity cost.
Marketing Management
Understanding Markets and Customers
Ability to compete in global markets.
Marketing Management
Understanding Markets and Customers
Customers in markets worldwide; increasingly interconnected through: travel, internet, media, global brands.
Marketing Management
Understanding Markets and Customers
External environment affecting global business.
Marketing Management
Understanding Markets and Customers
Tendency of consumer preferences becoming similar globally.
Marketing Management
Understanding Markets and Customers
Competing through lower costs than competitors.
Marketing Management
Understanding Markets and Customers
Specialized skill developed through training and experience.
Marketing Management
Understanding Markets and Customers
Buying/selling across country borders.
Marketing Management
Understanding Markets and Customers
Modifying business approach to align with local culture.
Marketing Management
Understanding Markets and Customers
Variations in values, behaviors, communication styles between cultures.
Marketing Management
Understanding Markets and Customers
Existence of multiple cultures within organization/market.
Marketing Management
Understanding Markets and Customers
Medium of exchange; money of country.
Marketing Management
Understanding Markets and Customers
Uncertainty from exchange rate fluctuations.
Marketing Management
Understanding Markets and Customers
What customers want globally; varying by country/culture.
Marketing Management
Understanding Markets and Customers
Reduction in shock transmission between countries.
Marketing Management
Understanding Markets and Customers
Risk of debtor inability to repay debt.
Marketing Management
Understanding Markets and Customers
Economy heavily reliant on specific products/markets/countries.
Marketing Management
Understanding Markets and Customers
Markets trading financial instruments (futures, options, swaps) derived from underlying assets.
Marketing Management
Understanding Markets and Customers
Country with lower income, less industrialized, often lower HDI.
Marketing Management
Understanding Markets and Customers
Process of economic, social, technological progress.
Marketing Management
Understanding Markets and Customers
(HDI).
Marketing Management
Understanding Markets and Customers
Making product unique in global markets.
Marketing Management
Understanding Markets and Customers
Toward what global markets business aims.
Marketing Management
Understanding Markets and Customers
Reduction in international trade/integration.
Marketing Management
Understanding Markets and Customers
Getting products to customers across countries.
Marketing Management
Understanding Markets and Customers
Difference/separation increasing over time.
Marketing Management
Understanding Markets and Customers
Home country market where business primarily operates.
Marketing Management
Understanding Markets and Customers
Selling products at prices below domestic prices in foreign markets.
Marketing Management
Understanding Markets and Customers
Process of countries becoming economically linked through: trade agreements, shared markets, monetary union.
Marketing Management