Global Marketing and Sustainable Practices Overview

Economic community

A group of nations organized to work toward shared global trade and other goals

Global company

A company that, by operating in more than one country, gains marketing, production, research and development, and financial advantages that are not available to purely domestic competitors

Global marketing

The full process of marketing products and services within and across multiple countries

Contract manufacturing

A joint venture in which a company contracts with manufacturers in a global market to produce its product or provide its service

Direct investment

Entering a global market by developing assembly or manufacturing facilities within that market

Exporting

Entering international markets by selling goods produced in the company's home country, often with little or no modification

Joint ownership

A cooperative venture in which a company creates a local business with investors in a global market who share ownership and control

Joint venturing

Entering international markets by joining with companies within a global market to produce or market a product or service

Licensing

Entering a global market by developing an agreement with an entity within that market to use the company's brand, trademark, patent, trade secret, manufacturing process, or some other item of value in return for some payment

Management contracting

A joint venture in which the domestic company supplies the management know-how to a company in another country that supplies the capital; the domestic company exports management services rather than products

Adapted global marketing

A global marketing approach that adjusts the marketing strategy and mix elements to each global target market, which increases costs but hopefully yields larger market shares and financial returns

Communication adaptation

A global communication strategy of fully adapting advertising messages to local markets

Product adaptation

Adapting a product to meet local conditions or wants in global markets but without significantly changing the positioning and communication associated with it

Product invention

Creating new products or services for global markets

Standardized global marketing

A global marketing strategy that basically uses the same marketing strategy and mix in all of the company's global markets

Straight product extension

Marketing a product in a global market without making any changes to the product or its positioning and communication

Whole-channel view

Designing global channels that consider the entire global supply chain and marketing channel, forgoing an effective global value delivery network

Sustainable marketing

Socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs

Consumerism

An organized movement of citizens and government agencies designed to improve the rights and power of buyers in relation to sellers

Carbon footprint

A term that captures the total negative CO2e impact associates with a product or service

Environmental sustainability

A management approach that involves developing strategies that both sustain the environment and produce profits for the company

Environmentalism

An organized movement of concerned citizens, businesses, and government agencies designed to protect and improve people's current and future living environment

Consumer-centric marketing

A company should view and organize its marketing activities from the customer's point of view to sense, serve, and satisfy customer needs, now and in the future

Consumer value-building marketing

A company should put most of its resources into long-term consumer value-building marketing investments

Deficient products

Products that have neither immediate appeal nor long-run benefits

Desirable products

Products that give both high immediate satisfaction and high long-run benefits

Ethical marketing

Applying high standards of ethics and morality when making marketing decisions

Pleasing products

Products that give high immediate satisfaction but may hurt consumers in the long run

Salutary products

Products that have low immediate appeal but may benefit consumers in the long run

Sense-of-mission marketing

A company should define its mission in broad social terms rather than narrow product terms

Sustainable company

A company that creates value for customers through socially, environmentally, and ethically responsible actions