Final Review Marketing

Are trade zones used to increase or decrease customs?

Decrease

What is the main or common reason we implement tarrifs?

To protect local business

What are some issues an organization faces when importing?

Governmental regulations

why does international documentation have to be accurate?

Fees and delays can occur if it is not

The trade agreement among Canada, Mexico, and the U.S.

USMCA

Examples of macro environmental influences on international organizations

Geopolitical issues, infrastructure, and cultural issues

what is prohibited trade between countries?

Embargo

What is the main purpose of ecoterms?

Clarifies responsibilities in international shipping

what does a joint venture do?

two businesses make a new entity

as of 2023, who is the U.S.’s top import and export partner?

Mexico

what is the zone of tolerance?

The difference between the customer’s expectation and the actual service they experience.

what do we define as the rubber meeting the road? (when the customer actually interacts with the service provider)

The delivery gap

Why does marketing services differ from marketing products?

Services are intangible, immediately consumed and are inseparable.

Another way to talk about the delivery gap

the difference between the firm’s standards and the service it actually provides.

If services are produced and consumed at the same time, what are they?

inseparable

What is one way to reduce the communication gap?

managing customer expectations

We use training and standardization to help reduce what?

Hetrogeneous

What are the four components of the global market assessment?

Economic analysis, infrastructure and tech analysis, analysis of government actions or inactions, and sociocultural actions.

Do tariffs lower prices?

no

If I’m worried about how to get there, what am I worried about as far as transportation is concerned?

Infrastructure

BRIC countries

• Brazil (high power distance, low individualism)

• Russia

• India

• China

Provides the least risk when going into a foreign market

Exporting

Globalization definition

Goods, services, people, and ideas flowing across national borders

Trade deficit

When we import more than we export

what is the Big Mac index?

Exchange rates should adjust to equalize the cost of a Big Mac wherever it is bought around the world.

Most common measure of the market potential of a country’s economy

GDP

Why should marketers be aware of the BRIC countries?

They have the most potential for market growth

If I want to expand globally, and I want the most return, and I’m not scared of high risk, what should I do?

Direct Investment

Are supply chain concepts universal?

Yes, but we apply them differently based on what country we are in.

In an increasingly integrated world, supply chain managers have to operate…

globally

What is a good way to fill knowledge gaps?

Utilize locals

What differences between area and population can have implications for supply chain managers?

labor force, how many stores, how much transportation, NOT LANGUAGE

The GINI index

• A measure of income inequality within a population, ranging from 0 to 1, where 0 represents perfect equality and 1 represents perfect inequality.

• The lower the number, the more evenly spread out the wealth is

What is friend-shoring?

similar political beliefs

Three things that go into the cost of labor?

How skilled, productivity, and cost

GDP

GDP measures the yearly value of all the finished goods and services produced within a country’s borders.

Which has consumers and competitors in mind, free market or monopoly?

Free Market

What is OCEA?

Occupational Safety and Health Administration in the U.S.

What is the purpose for the perfect order?

It’s perfect, everything about the order does perfectly, the objective is to take away anything that gets in the way of the perfect order, MINIMIZE ERRORS

Order fill rate

calculated by taking the total number of orders shipped and dividing that number by the total number of orders.

Are Supply chain sustainability KPIs important?

Yes

What are sustainability initiatives that we measure?

CO2 output, renewable resources, COST FOR IMPLEMENTING IS NOT A SUSTAINABLE KPI, IT IS A FINANCIAL KPI

What is NOT a quality of high-quality data?

cost

Characteristics of KPIs

Measureable, result-oriented, achievable, not tied to personal goals

Three important things for measuring high-quality data

Accuracy, completeness, and timliness

Can we manage in supply chain without measuring?

no

Out of the three types of score cards, which one involves checking things off?

categorical

what are the three things in the cash-to-cash cycle?

Days of inventory, days of payable, days of receivable