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Flashcards in International Marketing Deck (8)
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1

variables of marketing mix

-product
-place
-price
-promotion

2

Market segmentation

- process of identifying groups of costumers
- groups differ among many variables (age, geography, social status, income, gender etc)
- helps companies to match their marketing mix with the needs of the identified group

3

Marketing Mix: Product

Attributes of product need to be adjustet in order to:
- fullfill customer needs
- meet product/technical standard in different countries
- satisfy economic development that affect costumer bavior

4

Marketing Mix: Promotion

-Communication the product in different ways to meet adress costumer needs
- also cultural differences, law issues etc

5

Push marketing

Company brings product to costumer (pushes it to costumer)
- industrial products, very technical parts
- short distribution products
- personal selling emphasis

6

Pull marketing

- Costumer is being pulled to the product with advertisment
- mass media promotions
- try to match exactly customer needs
- mass media emphasis

7

Place/Distribution

Distribution strategy of products:
- long/short channel
-direct indirect
--> how is the product come from seller to end user?

8

Pricing

basic three pricing strategies:
- cost plus: price according to cost of serving different markets --> additional cost according to transportation, tarriffs, and logistics will be added to the usual price
- multipoint pricing: prices in one market may affect prices in another market---> subsidize low price market from high price markets
-global pricing
premium pricing to take advantage of global elites or position brand/product as premium