Retail Concentration
A few retailers supply most of the market
Concentrated retail system
Refers to the number of intermediaries between the producer and consumer
Channel length
A technology that facilitates the sharing of information and the building of virtual global networks and communities
Social media
The systematic collection, recording, analysis, and interpretation of data to provide knowledge that is useful for decision making in a global company
International Market Research
The knowledge, skills, and technology that allow for the exploration and and deeper investigation of a companies international business strategies and activities to gain insight and and drive future strategy development and implementation.
Business Analytics
There are many retailers, but none has a major share of the market
Fragmented retail system
Refers to the expertise, competencies, and skills of established retailers in a nation and there ability to sell and support the products of international business
Channel quality
A firms communication strategy is partly defined by what?
Its choice of channel
The first step of the international market research
Defining the research objectives
Business analytics can be focused on one of three core applications
Descriptive, predictive, and prescriptive
What are three factors that contribute to countries having a more concentrated retail system
Car ownership, number of households with freezers and refrigerators, and number of two income households.
A channel that is difficult for outsiders to access
Exclusive distribution channel
Occurs whenever a firm uses a marketing message to sell its products in another country
International communication
The final step of international market research
Report the research findings
Data that includes a massive volume of both structured and unstructured data that are so large that they may be difficult to process using traditional databases and software techniques
"Big data"
A country that has a concentrated retail system
USA
A long channel exists if?
If the producer sells through an import agent, a wholesaler, and a retailer.
What is another aspect of a companies communication strategy besides the approach they take is?
Potential barriers to communication
What are the middle 4 steps of international market research
Determining the data sources, Accessing the costs and benefits of the resrearch, Collecting the data, Analyzing and interpreting the data
The use of advanced statistical techniques and software to identify and build predictive models that can help to identify trends and relationships not readily observed in descriptive analytics
Predictive Analytics
A country that has a fragmented retail system
Japan
A short channel exists if?
The producer sells directly to the consumer
What are 4 types of communication channels available to an organization?
Social media, direct selling, sales promotion, and various forms of advertising
The basic data that companies want collected in international market research
Data on the country, data to forecast customer demands, data to make marketing decisions
The use of management science methodologies to guide a company in its endeavors to best use allocable resources.
Prescriptive Analytics