Chapter 18 - Marketing in the Global Firm

Question 1

Global Marketing Strategy

Answer 1

A plan of action that guides the firm in how to position itself and its offerings in foreign markets, which customer segments to target, and the degree to which its marketing program elements should be standardised and adapted

Question 2

Global Market Segment

Answer 2

A group of customers that share common characteristics across many national markets

Question 3

Adaption

Answer 3

A firm’s efforts to modify one or more elements of its international marketing program in order to accommodate specific customer requirements in a particular market

Question 4

Standardisation

Answer 4

A firm’s efforts to make its marketing program elements uniform, with a view to targeting entire regions, or even the global marketplace, with a similar product or service

Question 5

Global Brand

Answer 5

A brand that has a standardised positioning, advertising strategy, look and personality worldwide

Question 6

Grey Market Activity

Answer 6

The legal importation of genuine products into a country by intermediaries other than authorised distributors

Question 7

International Price Escalation

Answer 7

The problem of end-user prices reaching exorbitant levels in the export market caused by multi-layered distribution channels, intermediary margins, tariffs and other international customer costs

Question 8

Transfer Pricing

Answer 8

The practice of pricing intermediate or finished products exchanged between the subsidiaries and affiliates of the same corporate family located in different countries

Question 9

Global Account Management GAM

Answer 9

Servicing a key global customer in a consistent and standardised manner, regardless of where in the world it operates