Harry's CLEP Marketing

Buyer Decision Making Process

1. Problem Recognition

2. Information Search

3. Evaluation of Alternatives

4. Purchase Decision

5. Post-purchase behavior

Exporting

Selling domestically produced goods in overseas markets with minimal risk and low control.

Franchising

Granting a foreign company the rights to a brand, patent, or manufacturing process. It is low-risk and yields income immediately, but limits control over overseas operations.

Licensing

Grants permission to use specific intellectual property (like a trademark or patent) with minimal oversight over how the licensee runs their business.

Joint Ventures

Partnering with a foreign company to share costs, risks, and local market knowledge.

Wholly Owned Subsidiary

A direct investment where the parent company builds or buys an entirely new facility in a foreign country. It carries the highest risk but offers the greatest degree of control.

Quotas

Specific limits on the amount or volume of certain products that can be imported into a country.

Tariffs

Taxes or duties levied by a government on imported goods.

Embargoes

Complete bans on the import or export of certain products to a specific country.

Exchange Controls

Government limits on the amount of foreign exchange and the exchange rate.

Commercialization

The stage of product development that involves launching a new product into the market

Marketing Concept

The ultimate key to success is customer satisfaction.

Behavioral Segmentation

A market segmentation scheme that divides a product’s market into heavy users versus moderate users versus light users of the product