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Marketing research
the systematic gathering, recording, and analyzing of data to provide information useful in marketing decision making
research process
the process of obtaining information; it should begin with a definition of the research problem and establishment of objectives and proceed with an orderly approach to the collection and analysis of data
secondary data
data collected by an agency or individual other than the one conducting research; often useful in market research
back translation
the process in which a document, such as a questionnaire, or phrase is translated from one language to another and then translated by a second party into the original language; can be used to verify that the first translation, as of a marketing slogan, has the intended meeting for the tar…
expert opinion
a method of market estimation in which experts are polled for their opinions about market size and growth rates; used particularly in foreign countries that are new to the marketer
analogy
a method of market estimation that assumes that demand for a product develops in much the same way in all countries as comparable economic development occurs in each country
international marketing research
the form of marketing research involving two additional considerations: 1) the need to communicate info across national boundaries and 2) the challenge of applying established marketing techniques in the different environments of foreign markets, some of which may be strange or vexing mil…
primary data
data collected, as in market research, specifically for a particular research project
multicultural research
inquiry, analysis, and study of countries and cultures that takes into account differences in language, economic structure, social structure, behavior, and attitude patterns; different methods of research may have varying reliability in different countries
parallel translation
a method of translation in which two translators are used to make a back translation; the results are compared, differences are discussed, and the most appropriate translation is used; the method addresses the use of common idioms in the languages being translated
decentering
a method of translation, a variation on back translation, that is a successive process of translation and retranslation of a document, such as a questionnaire, each time by a different translator. The two original-language versions are then compared, and if there are differences, the proc…
underdeveloped
not as developed as industrial countries
economic development
Generally, an increase in national production that results in an increase in average per capita gross domestic product
Newly Industrialized Countries; NICs
countries that are experiencing rapid economic expansion and industrialization
Big Emerging Markets; BEMs
used to describe the core group of populous nations that will account for much of the growth in world trade among developing and newly industrialized countries
infrastructure
the collective assortment of capital goods that serve the activities of many industries and support production and marketing
Bottom-of-the-pyramid marketing; BOPMs
consisting of the 4 billion people with incomes of less than $1,200 across the globe Most often concentrated in the LDCs and LLDCs
global marketing management
not sure?
corporate planning
the formulation of long-term, generalized goals for an enterprise as a whole
direct exporting
the type of exporting in which a company sells to a customer in another country
strategic planning
a type of planning conducted at the highest levels of management, dealing with products, capital, and research and the long- and short-term goals of a company
indirect exporting
the type of exporting in which a company sells to a buyer (an importer or distributor) in the home country; the buyer in turn exports the product
tactical planning
a type of planning that pertains to specific actions and to the allocation of resources used to implement strategic planning goals in specific markets; also known as market planning; generally conducted at the local level
licensing
a contractual means by which a company grants patent rights, trademark rights, and the rights to use technology to another company, often in a foreign market; a favored strategy of small and medium-sized companies seeking a foothold in foreign markets without making large capital outlays
franchising
a form of licensing in which a company (the franchiser) provides a standard package of products, systems, and management services to the franchisee, which in foreign markets may have market knowledge; permits flexibility in dealing with local market conditions while providing the parent f…
joint venture
a partnership of two or more participating companies that join forces to create a separate legal entity
global marketing concept
a perspective encompassing an entire set of country markets, whether the home market and one other country or the home market and 100 other countries, and viewing them as a unit, identifying groups of prospective buyers with similar needs as a global market segment, and developing a marke…
strategic international alliance (SIA)
a business relationship established by two or more companies to cooperate out of mutual need and to share risk in achieving a common objective
product diffusion
the process by which product innovation spreads; success may depend on the ability to communicate relevant product info and new product attributes
Product Component Model
a tool for characterizing how a product may be adapted to a new market by separating the product's many dimensions into three components; support services, packaging, and core component
global brand
the worldwide use of a name, term, sign, symbol (visual or auditory), design or a combination thereof to identify goods or services of a seller and to differentiate them from those of competitors
quality
the essential character of something, such as a good or service; defined in two dimensions: market-perceived quality and performance quality; consumer perception of a product's quality often has more to do with market-perceived quality than performance quality
homologation
a term used to describe changes in a product that are mandated by local standards for product and service quality
innovation
an idea perceived as new by a group of people; when applied to a product, may be something completely new or something that is perceived as new in a given country or culture
green marketing
consideration and concern for the environmental consequences of product formulation, marketing, manufacturing, and packaging
derived demand
demand that is dependent on another source; it can be fundamental to the success of efforts to sell capital equipment and big-ticket industrial services
price-quality relationship
the balance between a product's price and how well the product performs; often ideal if it meets basic expectations and no more, allowing it to be priced competitively
client followers
companies, often providers of services, that follow companies that first moved into a foreign market; for example, an American insurance company setting up in Mexico to serve a US auto company that had previously opened a factory there
ISO 9000
a series of international industrial standards originally designed by the Internation Organization for Standardization to meet the need for product quality assurances in purchasing agreements
relationship marketing
the aspect of marketing products that depends on long-term associations with customers; an important factor in business-to-business contexts and especially important in most international markets, where culture dictates strong ties between people and companies
distribution process
the physical handling of goods, the passage of ownership (title), and -especially importnat from a marketing viewpoint- the buying and selling negotiations between the producers and middlemen and between middlemen and customers
distribution structure
the system, present in every country's market, through which goods pass from producer to user; within the structure are a variety of middlemen
distribution channel
the various routes through which marketers must negotiate their goods to deliver them to the consumer; range from those with little developed marketing infrastructure, as found in many emerging markets, to those with a highly complex, multilayered systems, as found in Japan; consideration…
dealer
the middlemen selling industrial goods or durable goods directly to customers; they are the last step in the distribution channel
import jobber
in international transactions, business entities that purchase goods directly from the manufacturer and sell to wholesalers and retailers and to industrial customers
Export Trading Company Act
An act allowing producers of similar products in the US to form an export trading company; the act created a more favorable environment for the formation of joint export ventures, in part by removing antitrust disincentives to trade activities
facilitating agency
not sure?
agent middlemen
in an international transaction, intermediaries who represent the principal (home manufacturer/marketer) rather than themselves; work on commission and arrange for sales in the foreign country but do not take title to the merchandise
merchant middlemen
in international transactions, the intermediaries, located in the foreign market, who take title to the home-country manufacturer's goods and sell on their own account; manufacturers using them have less control over the distribution process than those using agent middlemen
trading company
business entities that accumulate, transport, and distribute goods from many countries
complementary marketing
the process by which companies with excess marketing capacity in different countries or with a desire for a broader product line take on additional lines for international distribution; commonly called piggybacking
Large-Scale Retail Store Location Act
a regulatory act in Japan, implemented under pressure from the US in 2000; replaced the protective Large-Scale Retail Store Law and relaxed restrictions on the opening of large retailers near small shops and abolished the mandate on the number of days a store must be closed

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