MKTG 469 Midterm 1 study guide.docx

Some primary data may be less susceptible to

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Some primary data may be less susceptible to individual differences in response patterns, language and communication issues, and sociocultural factors Neuromarketing: using bran research on the effect of marketing stimuli Some consumer decisions are largely unconscious habitual processes - What are the potential problems in translating research materials? What is the back- translation method? (p190, Chapter 6). Back-translation method: A research wants to compare Americans and Indonesians, but all the survey materials were prepared in English Hires translator A to translate the original materials into Indonesian Hires translator B to translate the translated Indonesian materials back into English (back-translation) Compares the two English versions Discusses the problematic areas and reaches a consensus with the two translators Back-translation method can: Increase comprehension and validity Ensure accuracy in translation Reduce SRC - What is comparative analysis and market estimation by analogy? Can you give an example? What is time-series displacement? (p199-200, Chapter 6). Comparative analysis and market estimation by analogy Conduct comparisons of market potential and marketing performance in different country or regional markets simultaneously But sometimes certain types of desired data may not be available, especially in developing-country markets Market size or potential demand may be estimated by analogy E.g., ”AvtoVaz is to Russia what Volkswagen is to Germany and Fiat is to Italy”
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Time-series displacement Used to estimate when two markets are at similar stages of development The market for Polaroid instant cameras in Russia at the present time is comparable to the instant camera market in the US in the mid-1960s By understanding factors associated with demand for instant cameras in the US in 1964 and in Russia today, one can estimate current potential in Russia Chapter 7 - What are segmentation, targeting, and positioning? (Case 7-1, Chapter 7). - List different ways of segmenting a market (section 7-1, Chapter 7).
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- What is the Values and Lifestyles analyses of consumers? (p218-221, Chapter 7). Value: Usage rates: heavy, medium, light, or nonuser Chapter 8 - What is internationalization? What are the stages? (see review slides). Internationalization: a firm’s expansion from its domestic market into foreign markets The internationalization process has four stages: Stage 1: No regular export activities Stage 2: Export via independent representatives (agents) Stage 3: Establishment of one or more sales subsidiaries Stage 4: Establishment of production facilities abroad (multinational companies) Stage 1 to 2: Most firms work with an independent agent and enter a nearby or similar country
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Stage 2 to 3: The firm establishes an export department to manage its agent relationships Later in Stage 3, it replaces agents with its own sales subsidiaries in its larger export markets. This increases investment and risk, but it also makes more
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