Summary Global Marketing

ISBN-10 1292100117 ISBN-13 9781292100111
369 Flashcards & Notes
3 Students
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This is the summary of the book "Global Marketing". The author(s) of the book is/are Svend Hollensen. The ISBN of the book is 9781292100111 or 1292100117. This summary is written by students who study efficient with the Study Tool of Study Smart With Chris.

Summary - Global Marketing

  • 1.2 The dimensions of the international product offer

  • What are the three levels of a product?
    1. Support services
    2. Product attributes
    3. Core product benefits
  • What are support services?
    • Delivery
    • Installation
    • Guarantees
  • What are product attributes?
    • Brand name 
    • Quality
    • Packaging
  • What are core product benefits?
    • Functional features
    • Performance
  • 1.3 Developing international service strategies

  • What are the four characteristics of services?
    1. Intangibility
    2. Perishability
    3. Hetrogeneity
    4. Inseparability 
  • What are three categories of services?
    1. People processing
    2. Possession processing
    3. Information-based services
  • What is the definition of e-services?
    A business activity of value exchanges that is accessible through electronic networks, which include the internet and mobile networks. It involves distributing and personalizing resources in real-time over the internet
  • What is the definition of Cloud computing?
    Cloud computing is a general term for anything that involves delivering hosted services over the internet. In cloud computing, the word cloud is used as a metaphor for ''the internet''.
  • 1.4 The product life cycle

  • What is the definition of Product Life Cycle?
    Concerns the life of a product in the market with respect to business/ commercial costs and sales measures. Simply explained, it is a theory in which products or brangs follow a sequence of stages, including introduction, growtih, maturity and sales decline.
  • What is the definition of Time to market?
    The time it takes from the conception of an idea until it is available for sale. TTM is important in those industries where products become quickly outmoded.
  • TTM is important for the competitive sucess of many companies because: (4)
    • Competitive advantage of getting the market sooner
    • premium prices early in life cycle
    • faster break-even on development investment and lower financial risk
    • greater overall profits and higher return on investment
  • The key process requirements for rapid TTM are (7):
    • Clear understanding of customer needs at the start of the project and stability in product requirements or specifications
    • a characterized, optimized product development process
    • a realistic project plan based on this process
    • availability of needed resources to support the project and use of full-time, dedicated personnel
    • early involvement and rapid staffing building-up to support the parallel design of product and process
    • virtual product development including digital assembly modelling and early analysis and simulation to minimize time-consuming physical mock-ups and testing
    • design re-use and standardization to minimize the design content of a project
  • The four stages in the product life cycle
    1. Introduction
    2. Growth
    3. Maturity
    4. Decline
  • What is TLCs?
    Life cycle for product forms, include definable groups of direct and close competitors and a core technology.
  • Two approaches when expanding the concept of the PLC to international markets
    1. International product life cylce - a macroeconomic approach
    2. PLCs across countries - a microeconomic approach
  • International Product life cycle:
    Describes the diffusion of process and innovation across national boundaries. For each curve, net export results when the curve is above the horizontal line; if the curve is below the horizontal line, net import results for a particular country
  • PLCs across countries:
    Due to different economic levels in different countries, a specific product can be in different PLC stages in different countries.
  • What is the definition of crowd-sourcing?
    A company or institution that takes a function once performed by employees and outsources it to an undefined and large community of people in the form of an open call
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Latest added flashcards

What is the purpose of global marketing plan?
To create sustainable competitive advantage int he global marketplace
Formula net profit (before tax)
Net marketing expenses - other operating expenses
Formula net marketing contribution
Total contribution - marketing expenses
What are four types of control?
  1. Strategic control
  2. effeciency control
  3. annual plan control
  4. profit control (budget control)
What is the definition of feedforward control?
Monitors variables other than performance - variable that may change before performance itself. In this way, deviations can be controlled proactively before their full impact has been felt
What are the four main measures of marketing performance
  1. Product
  2. distribution
  3. pricing
  4. communication
What is the definition of behavioural controls?
Regular monitoring of behaviour, such as sales people's ability to interact with customers (typically based on non-financial measures)
What is the definition of output control?
Regular monitoring of output, such as profits, sales figures and expenditures (typically based on financial measures)
What are the two groups of the control system?
  1. Output control
  2. behavioural controls
What is the firm's budget and control system (2)
  1. Building the marketing plan : global marketing decisions regarding the 4Ps: product, price, place and promotion
  2. budgeting and controllen