The ultimate size and profitability of a market-- can vary greatly and will be affected by factors both within and without the control of the marketeer.
What is Market Potential
100
The targeting of specific groups with specific products.
What is Segmentation?
100
The result of climatic, educational, or developmental factors but is usually the result of the economies of scale that the exporter brings to bear.
What is Absolute Advantage?
100
When the Home government implements a non-tariff barrier.
What is Import Quotas?
100
A legitimate function of government, whereby the product mus be formally licensed by the importer's government and a fee paid by the importer.
What is Import Licensing?
200
When a product and its price have been developed, customers must still be convinced to favor it over a competitor's offering.
What is Promotion?
200
The companies ability to get access to consumers. Or when the company is able to break through a market.
What is Penetration?
200
This takes the form of quality, quantity, price, deliver, warranty, or service and can be maintained as long as the marketeer remains vigilant.
What is Comparative Advantage?
200
When a foreign company brings its technology to the host country and the host country uses that technology to "catch up" with its competitors.
What is Technology Transfer?
200
"I think my product is great so will you" -- When the company might ignore the fact that there is little or no demand.
What is Personalization?
300
The potential consumer must be made aware of the existence of a product.
What is Product Awareness?
300
Convincing and marketing to customers so that they will buy your product.
What is Promotion?
300
When countries sell each other the same products such as automobiles.
What is Coproduction?
300
The targeting, acquisition, and retention of customers over a period dictated by the life cycle of the product under consideration.
What is Marketing?
300
The people who keep track of the inflow and outflow of money.
Bankers
400
It represents the biggest single market in actual value in the world.
What is Currency Traders?
400
"These people just don't get it" When Marketeers have poor understanding of the targeted culture.
What is Cultural Myopia?
400
This determines the long-term viability of goods and services in the targeted segment.
What is Balance of Trade?
400
The people that must change styles easily to adapt to their surroundings.
What is Marketeers?
400
When the host government receives a portion of a foreign company's revenue.
What is Taxation?
500
When the government, in the form of a customs office, controls the in-flow of foreign goods across its borders. Otherwise known as taxes.
What is Tariffs?
500
When there is a "lag time" between when a trade is contracted and when the money arrives. Exporters and importers tries to get the payment method that most benefits them. Exporters want to trade with the hardest currency while importers want to be paid with the weaker currencies.
What is Exchange Risk?
500
Bringing the right product to the right place at the right time in the right quantity at the right price.
What is Merchandising?
500
When companies are finally able to get access to customers.
What is Penetration?
500
International transactions that require the extension of credit.