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Mark 4700: Test 2
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 targeted audience |
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 milieus for the marketer |
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 process is repeated until the second original-language version is the same as the first |
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 firm with a degree of control |
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 market plan that strives for standardization wherever it is effect in cost and cultural terms |
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 involves the "six C's": cost, capital, control, coverage, character and continuity |
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 |