4.5
The chain of intermediaries a product passes through from producer to the final consumer
What is Channel of Distribution
Product, Price, Place, Promotion, Process, Physical Evidence, People
What are the 7 P's
Selling products in markets other than the original domestic market
What is an international market
The buying and selling of goods and services on the internet
What is E-Commerce
Changing the name, packaging and promotion of a confectionery bar so it can be sold to different market segments
What is rebranding
The ways in which the business and its products are presented to customers
What is physical evidence
The growing trend towards worldwide markets in products, capital, and labor, unrestricted by national barriers
What is globalisation
Transactions conducted directly between a supplying business and a purchasing business
What is Business to business (B2B)
The use of social media sites or text messages to increase brand awareness or sell products
What is a viral market
A non-physical product – a service – provided to a consumer such as an insurance policy or a car repair
What is intangible evidence
Adopting a standardized product across the globe as if the whole world were a single market – selling the same goods in the same way everywhere
What is Pan-global Marketing
A business model based on e-commerce that creates a facility that allows consumers to trade with each other (sometimes known as customer to customer)
What is Consumer to consumer (C2C)
Farmers’ markets - selling produce directly to consumers
What is Direct selling: no-intermediaries
A physical object that can be touched such as a building, car, tablet computer, or clothing
What is tangible evidence
This can allow sales to continue to grow despite increased competition in the domestic market and there is a potential to increase profits through rapid sales growth and low costs in emerging markets.
What are some opportunities posed by entry into international markets?
Low-cost growth is much easier than with physical locations, computer ownership and usage are increasing in all countries of the world, and accurate records can be kept
What are some benefits of E-commerce to a business
Introduction, Growth, Maturity, Decline
What is a product’s life cycle
Customers who walk into a restaurant expect a clean and friendly environment; if the restaurant is smelly or dirty, customers are likely to walk out.
What is an example of Physical Evidence
Exporting, Licensing, Joint Ventures, and International Franchising
What are some methods of entry into international markets?
Some countries have low-speed internet connections, Consumers cannot see the product before buying, and the website must be kept up to date and user-friendly
What are some Limitations of E-commerce to a business