Global marketing

Controllable Factors

Factors a business can use to influence consumers; called marketing mix

Product

Actual good or service produced to meet a consumer need

Intangible

No physical good

Perishable

Services are not able to be returned or saved

Heterogeneous

Diverse

Homogeneous

Uniform

Inseparable

Consumers must interact with the producer of a service

Separable

Consumers do not necessarily need to interact with the producer of a service

Price

Amount a company charges for a product

Distribution

Promotion

Methods of informing the target market about the value of the product

Global Market

Act of a business making marketing mix decisions to target markets across the world

Standardize

Establishing a standard for products, distribution, price, or promotion to follow

Adapt

Changing the approach to products, distribution, price or promotion to follow

Demographics

Data on the population of a group