Marketing Management - Chapter 2: Marketing Foundations

These flashcards cover key concepts and terminology related to global marketing strategies, regional market zones, and ethical considerations in marketing as discussed in Chapter 2.

Global Marketing Experience Curve

A model outlining the stages through which companies progress in their global marketing efforts.

Emerging Markets

Countries that are experiencing rapid economic growth and industrialization, often seen as future market opportunities.

Market Entry Strategy

The method by which a company begins to sell its products or services in a foreign market.

Exporting

A low-risk market entry strategy that involves selling products produced in one country to customers in another.

Contractual Agreements

Non-equity relationships where one company licenses or franchises another to operate in a foreign market.

Strategic Alliances

Partnerships between companies to share resources and risks in entering foreign markets.

Direct Foreign Investment

Investment in a foreign company or acquiring a foreign business with the potential for high returns and risks.

Triple Bottom Line

A framework for businesses that considers social, environmental, and economic impacts.

Sustainability

The ability to maintain or improve economic, social, and environmental conditions without compromising future generations.

Value Proposition

The promise of value to be delivered to customers, reflecting the benefits of the product or service.

Quality

The degree to which a product meets the needs and expectations of the consumer, which varies across markets.

Country-of-origin effect

Consumer perceptions influenced by the geographical origin of the product.

Code of Marketing Ethics

A set of values that guide the ethical practices of a marketing organization.

Pricing Escalation

An increase in the final selling price of products due to various costs such as tariffs and shipping.

Ethics in Marketing

The principles that govern marketing practices to ensure fairness, transparency, and respect for customers.