A
Global Market
Promoting products world wide - business of all sizes
outsourcing
when us jobs are abroad
Global market is (High)
High risk, high reward vs low risk and low cost
Ethnic segmentation
Divided by culture and race
Brand equity
added value a brand names gives a product
Tariffs
Taxes on imported goods
Global Market segmentation
divides consumers into smaller more distinc groups leading to more efficient marketing
Exchange rate
one countries currency in terms of another
Family life cycle
Is a diagram that categorizes customers and their family
Demographics
segmenting a market into groups based on characteristics like age, gender, and or income
Culture
using a groups shared values and beliefs for authentic marketing
Geographical segmentation
dividing groups based on location
80/20 Rule
80% of outcomes come from 20% of customers
Adaptation
modifying a companies products or services or stratigies to meet goals
Age Segmentation
Dividing customers based on age
Branding and packaging
Name, term, symbol, design, uniqueness
Repositioning
changing a brands image to appeal to new customers
Quota
setting specific targets for marketing or sales
Global market segmentation
production of products sold the same world wide
Service Vs Product
Service - Can not be touched, seen, tasted
- Can not be produced and consumed
Product - Can be stored and consumed
Product adaptation
customizing a core product for specific foreign or local markets