MKT 337 Study Guide - Midterm Guide: Marketing Mix
Document Summary
Product and promotion: (1) one product, one message; (2) Product invention; (3) product adaptation; (4) promotion adaptation. Place: (1) channel choice; (2) channel structure; (3) country infrastructure. Price: (1) dumping; (2) countertrade; (3) exchange rates; (4) Same product with same message: one product, one message. Same product with different message: promotion adaptation. Different product with same message: product adaptation. Different product with different message: product invention. Adequate distribution is necessary for success in global markets: (1) some countries have complicated systems and (2) Lack of distribution infrastructure and cultural differences create problems. Innovative distribution systems can create competitive advantage. Must consider transportation and insurance costs, taxes, and tariffs. Ensure that foreign buyers will pay price. May need to simplify a product to lower price. Do(cid:374)"t assu(cid:373)e that low-income countries are willing to accept lower quality. Global pricing considerations: (1) exchange rates are the price of o(cid:374)e"s curre(cid:374)cy i(cid:374) ter(cid:373)s of a(cid:374)other cou(cid:374)try"s curre(cid:374)cy; (cid:894)2(cid:895)
