| Definition | Answer |
|---|
| Stands for strengths, weaknesses, opportunities, and threats | |
| targeting different markets throughout the world | |
| this is the money (or something they barter with) to get the product | |
| when services are sold, they are likely produced by the seller and consumed by the purchaser at the same time (whereas products are sold, then consumed) | |
| an intermediary that just brings the seller and the buyer together; they never take control over the products; they work domestically | |
| when exchange rates literally float up and down based on the supply and demand of the product | |
| formerly product): within services, the outcome of purchasing from a company can be either tangible or intangible, which leads to the possibility of processing different things: | |
| an intermediary between the manufacturing and a buyer in another country, they purchase the products and resell them to international buyers (they mark up the products to make a p | |
| is managing the company objectives and the capabilities/resources available | |
| it means you need more of that specific country’s money to purchase another country’s money | |
| basically, how developed the country is | |
| this is a combination of everything where the company produces new products for potentially new customers | |
| taxes that are placed on goods and services when coming into a new country | |
| experienced, knowledgeable, trustworthy employees make the face of the company better | |
| is an outline of what objectives the company wants to reach, and what steps they are taking to reach them (a guide for the marketing team) | |
| is a separate business or related business within the larger company | |
| this is when the company classified the strategic business units (SBUs) by how they think they will grow/die in the future | |
| this includes everything that gets the products name out into the public (PR, advertising, personal selling, coupons, etc.) | |
| this limits the number of imports that are allowed to come into a new country (very good for domestic companies) | |
| defined as a company that does extensive trade (beyond just importing and exporting good for products) | |
| this is when the objectives are measured against what actually happened | |
| free trade between USA, Canada, and Mexico | |
| Negatives about globalization | |
| this is when the company wants to increase market share with their current customers (i.e. coupons); customer databases can be increasingly helpful with this strategy | |
| when companies try to customize products/service to every specific consumer (i.e. when you get a flyer in the mail that is addressed just to you, and gives you a coupon for a produ | |
| any sort of agreement that encourages international trading | |
| when companies make products then sell them over seas | |
| it is what marketing activities need to get done | |
| determines what business the company is in | |
| this concerns getting the product in the hands of the consumers when they want to purchase them | |
| | Definition | Answer |
|---|
| is when people or machines do something for other people or objects | |
| share one or more characteristic that unify them all (similar demos, similar product needs) | |
| signed by almost 150 countries, this agreement lowers the taxes and tariffs (also encompasses services as well as products) | |
| Typically accounts for 30% of international exchange | |
| t is the values that are shared by the people who live in a set place | |
| is what the company does better than any other company in the field | |
| gives money with low interest rates to poor countries | |
| is when management tries to figure out future plans and set reasonable objectives for the future | |
| consumers measure this by the consistency of the service over time; it also means giving the consumer a good, correct service the first time | |
| includes the US and Central America in NAFTA (highly reduces the costs to the US because they are the leading exporter to those nations) | |
| this is when the company produces new products to appeal to its already existing customers | |
| this looks at the sale potential and the size of the market segments that the company is looking to target | |
| tends to be a longer lasting competitive advantage; is literally either a product or service that the brand/company has that the competition cannot match | |
| what the consumer is spending their money to get (i.e. the tangible haircut that you get) | |
| is when the company redesigns the business process to make significant differences in performance | |
| this pulls companies together to enhance the trading abilities of the group | |
| this is how alike the different service/how much they vary are from each other | |
| growing extremely fast, allows people to open up a company with the same brand name as an already existing company | |
| is when companies sell a product cheaper internationally than domestically | |
| is when the price of the product far surpasses the cost that the competition charges | |
| it means you need less of that specific country’s money to purchase another country’s money | |
| is when management defines the business mission by what products and services they can make for customers rather than the benefits those customers are looking to get from the produ | |
| this is made to specifically target markets and gives the company specific strategies as to how they want to do it based on the 4 P’s | |
| making plans to reach the marketing objectives (it should be the basis for all day – to – day decisions | |
| this is when the domestic firm takes over an international country, or merges with them to make a whole new company | |
| defined as treating both employees and customers with respect and making sure their needs are satisfied | |
| _____ % of GDP comes from services | |
| means that the company requires a high amount of assets rather than employees | |
| low growth, and relatively low market share; these products need to be dropped | |
| this is when the target market is one 'smaller' segment of the total population and they only choose them to market to | |
| | Definition | Answer |
|---|
| hows the problem areas in the service sector that influence consumers perceptions of quality | |
| the government is ALWAYS involved in business, so no matter what country a company is looking to get into, they need to be aware of the political structure | |
| this is the products that are growing and looking to become market leaders; they typically have higher profits, but also have higher costs; need to really reinvest the profits gai | |
| pretty much when new technology comes out on the market that makes producing the product cheaper | |
| is brand name production done in a foreign country | |
| Many European nations import over ____% of their GDP | |
| consists of 27 European countries; the whole purpose is to try to get Europe to unify | |
| employees must understand the needs of the consumers, and whole-heartedly care that they are satisfied | |
| this is when a domestic company purchases enough of an international company to have interest in them, or owns a majority of the international company | |
| this is how the marketing plan is evaluated in line with the objectives | |
| services cannot be touched, tasted, felt or heard like products, which in turn, makes evaluating the quality harder | |
| it requires that companies sell the products to a central agency (can limit what type of exchange is occurring and can hinder the exporting process) | |
| his is if it can be inventoried, or stored for later consumption | |
| are the physical part of the service (i.e. the fact that your hair is shorter or colored when you go to the salon, or the milkshake you got at Steak and Shake) | |
| other services that come with the purchase of the core product that enhance the core product (make it more appealing to consumers) | |
| this is considered the heart of the marketing mix, because without the product, there is no need for the mix | |
| is when countries do not allow certain products/brands allowed in a new country | |
| when the best technology is used, it can likely reduce the time and cost associated with producing one unit of product, therefore reducing the cost to the consumer | |
| typically has low profits, but high growth potential; they tend to need more cash to support the growth within the industry; | |
| this is when the company tries to pull in new customers with the products/services they already have | |
| is when the manufacturer lets other companies use their intangible property (i.e. trademarks, patents, anything protected by law, specific manufacturing processes) | |
| how timely the service is performed (i.e. people expect prompt service from McDonalds) | |
| when companies literally trade goods (kind of like a barter) | |
| an intermediary that brings together the buyer and seller but in international territory; they help with the transfer of the products (tariffs, shipping, payment); they live in the | |
| many different ways to reach the target market | |
| they give money to nations that can meet their budget expenses – typically as a last resort option | |
| this is when the market plan gets put into action | |
| is a product/service that has steady levels of profits; typically, they reside in a low - growth market, but still gain reasonable profits; | |
|
Chat Acronyms (Common) 
Seven Dirty Words 
3 Letter Body Parts
