Strategic decisions to be made in the marketing plan, the design, development, branding, and positioning of the product are perhaps the most critical. Product-something that buyers can acquire via exchange to satisfy a need or a want (food, entertainment, information, people, places, ideas, etc.) Products are not created and sold as individual elements; rather than […]
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The public and the advertising industry itself agree that companies that use illegal or unethical advertising tactics should be dealt with severely. Not only is deceptive advertising wrong, but it also creates a lack of trust in all advertising, making it difficult for honest businesses to effectively promote their products and services. Constraints no advertising
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International economics stages development: 5 STAGES OF ECONOMIC DEVELOPMENT 1) Traditional society: most important economic demand associated with natural resources extraction 2) Preconditions for takeoff: manufacturing is beginning and primary needs will be related to infrastructure development 3) Takeoff: manufacturing of both semidurable and nondurable consumer goods has begun; goods demanded related to equipment and supplies to support manufacturing 4) Drive to
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“You have to fail often in order to succeed sooner.”
DEEPDIVE: THE ART OF STRATEGIC THINKING Read More »
Exchange rates foreign exchange market: Exchange Rates The $ of one country’s currency stated in terms of a second country’s currency Allows us to compute $ of one country’s exports in terms of other country’s money Depriciation=Increase in Imports=Decrease in CA=Increase in Financial Assets Appreciation=Decrease in Imports Reasons for holding Foreign Currency: Trade and investment-to
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Ethical tests personal selling: Ethical Tests Is it right? Who will it hurt? Would you want your decision publicized? Is it fair? What would you tell your child to do? Character and integrity strongly influence relationships in personal selling. Your character is based on internal value. Be a role model provided by top management, following
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5 multinational corporations types: Those groups of countries, which seek mutual economic benefit from reducing interregional trade and tariff barriers, are called multinational market regions. Reasons for the existence of Multinationals: Need for trade Reduce Transaction Costs History of Trade (East to West), but Easier to Trade North to South now, Time Zones (India Coal
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Spin questioning strategy sales client meetings recap: Problem Questions: Achieve Objective of uncovering current satisfaction Have High selling impact Situation Find out facts about the buyer’s existing situation. How many people do you employ at this location? How do you manage your time and contracts? These are the least powerful of the SPIN questions; Negative
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OFFSHORING AND OUTSOURCING Outsourcing – another firm does part of the other company’s business. Offshoring – same company, outside of the U.S. Offshoring and Outsourcing-Different company outside of the U.S. Off-shoring became a concern in the 1980s. Modern communications and transportation technology made it possible for firms to relocate production abroad. The effects and extent of off-shoring are
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How does one become a great salesman? I myself constantly find that businesses are looking for that one character that can not only tell a story but close the deal. Human resource departments spend a plethora of time and money conducting personality tests to find that next energetic enthusiast that will drive their future growth.
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