Marketing 550 Test #1
The Scope of Marketing Ethics
-Business ethics: the moral or ethical dilemmas that might arise in a business setting -Marketing ethics: examines those ethics problems that are specific to the domain of marketing firms' attempts to apply sound ethical principles; must be a continuous and dynamic process -Deceptive advertising: a representation, omission, act, or practice in advertisement that is likely to mislead consumers acting reasonably under the circumstances -The basic values marketers should aspire to are honesty, responsibility, fairness, respect, openness, and citizenship
Corporate Social Responsibility (CSR) and Ethical Practices
-CSR generally entails voluntary actions taken by a company to address the ethical, social, and environmental impact of its business operations and the concern of its stakeholders. -"The impact of the company's actions and operating in a way that balances short-term profit needs with society's longtime needs, thus ensuring the company's survival in a healthy environment"~AMA -Companies don't have to demonstrate both CSR and ethical practices to succeed; being socially responsible generally means going above and beyond the norms of corporate ethical behavior -Initiatives include establishing corporate charitable foundations; supporting and associating with existing non-profit groups; supporting minority activities; and following responsible marketing, sales and production practices -When companies embrace CSR, they appeal not only to their shareholders, but also to their key stakeholders, including their own employees, consumers, the marketplace, and society at large
Competitive Environment
-Competition: Anything that attracts potential consumer investment (time, money, etc.) away from a company's product. -Indirect competition -Direct competition -Responding to the environment->Many companies engage in tactics and marketing strategies that attempt to respond to multiples developments in the wider environment -In a constantly changing marketing environment, the marketers that succeed are the ones that respond quickly, accurately, and sensitively to their consumers
Choosing a Global Marketing Strategy: Target Market (STP)
-Cultural nuances make choosing the strategy difficult -Subcultures must also be considered -View of product and consumer role are different in each country so there must be different positioning -Adaptation-> the major challenge in developing a global marketing strategy is identifying the elements that need to be adapted to be effective in the global market place (ex. dramatic differences in literacy levels across the globe) -Single positioning strategy is where each brand occupies a single, unchanging position in the mind of the consumer -Even when a STP strategy appears successful, companies must continually monitor social+economic trends
What are the four macro (overarching) strategies that focus on aspects of the marketing mix to create+deliver value and to develop sustainable competitive advantages?
-Customer excellence: Focus on retaining loyal customers and excellent customer service. Customers are viewed as a lifetime value and are more than a transaction. -Operational excellence: Achieved through efficient operations and excellent supply chain and human resource management. Firms achieve great relationships with their vendors, and try to get customers the best product when/where they want it in the right quantities. -Product excellence: Having products with high perceived value and effective branding and positioning. -Locational excellence: Having a good physical location and internet presence. Many say that "the three most important things in retailing are location, location, location".
Buying Center Roles (six within a center)
-Decision-making unit of a buying organization is called a buying center -Participants can range from employees who have a formal role in purchasing decisions to members of the design team -Involves initiators (suggestion of buying particular product/service), influencers (views influence final decision), buyers (handles paperwork of actual purchase), deciders (ultimately decide any buying decision), users (people who consume and use the product/service), and gatekeepers (people who control information or access or both to decision makers of influencers)
Types of Buying Centers (organizational cultures or the buying culture)
-Democratic: A buying center in which the majority rules in making decisions. -Consultative: A buying center in which one person makes the decision but he or she solicits input from others before doing so. -Consensus: A buying center in which all members of the team must reach a collective agreement that they can support a particular purchase. -Autocrative: A buying center in which one person makes the decision alone, though there may be multiple participants.
Social Factors: Demographics
-Demographics: "Characteristics of human populations and segments, especially those used to identify consumer markets." -Age (generational cohort, which leads to similar purchase behavior due to shared experiences) -Gender (recently lines are becoming more blurred) -Income (gaps are growing and there are opportunities are at both ends) -Education level (higher education=better jobs and more income) -Marital status -Family lifecycle -Ethnicity (minority spending power is growing)
Situation/SWOT Analysis
-Determining a company's fit with its environment (Strengths, Weaknesses, Opportunities, Threats) -Strengths+Weaknesses=Internal -The examination of internal and external forces that impact the company
Why study ethics?
-Ethics of future not the same as today/past -Understand what is/isn't acceptable/unacceptable -Recognize/deal with ethical challenges -Know right/wrong = marketable job candidate Ethical Challenges "...arise in...business organizations [because]...multiple stakeholders...make conflicting demands." *Good marketing requires thoughtful planning with an emphasis on the ethical implications on society" -You have to balance the shareholders' interests with the needs of society -Managers often face the choice of doing what is beneficial for them and possibly the firm in the short run, and doing what is right+beneficial for the firm and society in the long run -To align personal and corporate goals, firms need to have a strong ethical climate. expect rules for governing transactions (including a code of ethics), and a system for rewarding or punishing certain behaviors
Choosing a Global Entry Strategy
-Export: requires the least amount of financial risk, but allows for only a limited return to the exporting firm. Global expansion begins. -Franchising: Contractual agreement between the firm, the franchiser, and the franchisee. -Strategic alliances: Refers to the collaborative relationships between independent firms. -Joint venture: Formed when a firm entering a market pools its resources with those of a local firm. Ownership, control, and profits are shared. -Direct investment: Requires a firm to maintain 100% if its plants, operational facilities, and offices in a foreign country, often through the formation of wholly owned subsidiaries. Requires the highest level of investment, and exposes the firm to significant risks. *Risk and control go up as we go on in the list
Influences upon the business buyer
-External environmental factors (Economic•Socio-cultural•Political/regulatory•Technological•Competitive•Supply Conditions) -Organizational (Objectives•Policies•Procedures•Organizational Structure•Systems; culture reflects the set of values, traditions, and customs that guide its employees' behavior) -Interpersonal (authority, status, empathy, persuasiveness) -Individual (age, education, job position, personality, risk attitudes)
Social Factors For Consumer Decision Process
-FAMILY!!: The single most influential factor for most of us; a family will consider the needs of all when purchasing -Reference Groups: One or more persons whom an individual uses as a basis for comparison regarding beliefs, feelings, and behaviors. Can be formed by family, friends, co-workers, or a celebrity that the person wants to emulate. -Cultural factors: Shared meanings, beliefs, morals, values, and customs of a group of people.
Responsibilities to Community
-Financial Contributions -Volunteerism -Supporting Social Causes
Assessing Global Markets
-Globalizations-> flowing across national borders -Economic analysis using metrics (General economic environment, Market size and population growth, Real income) -Infrastructure and technology (Transportation, Channels, Communication, Commerce) -Sociocultural analysis (Power distance, Uncertainty avoidance, Individualism, Masculinity, Time orientation) -Government actions (Tariff, Quota, Exchange control, Trade agreement)
Goals & Objectives
-Goals are the "destination" or the end point that is desired. -Goals represent major accomplishments over long periods of time. -Objectives are short-term performance targets that direct efforts toward goal. -Goal: I want to turn my hobby of designing handmade cards into a viable, profit-making business.
Social Factors: Social Trends
-Health & Wellness -Environmental -Privacy -Translated into consumer trends: -Wanting it now/market everywhere -Wanting a plastics-free world -Conscious consumer - i.e., animal welfare -Loner living - i.e., 25% of young Americans predicted to stay single throughout their life -Various factors appear to be shaping consumer values in the US and around the world, including a greater emphasis on health and wellness concerns, greener consumers, and privacy concerns. -Companies have to consider if green products + initiatives are good for business (they are more expensive but may draw in more consumers). -Green marketing->involves a strategic effort by firms to supply customers with environmentally friendly merchandise -Greenwashing->marketing products or services as environmentally friendly, with the goal of gaining public approval and sales rather than actually improving the environment -The online marketing industry does not know how to police the concern over "cookies" and overall security
2. Analyzing Infrastructure and Technological Capabilities
-Infrastructure is needed for a community or society to function -Marketers are especially concerned with 4 key elements of a country's infrastructure: Transportation, Communication, Distribution Channel, Commerce
3. Analyzing Government Actions or Inactions
-Laws + other regulations either promote the growth of global market or close off the country and inhibit growth -quota (min/max product that may be brought into a country during a specified time period), tariff/duty (tax levied on a good imported into a country), exchange control (the regulation of a country's currency exchange rate), trade agreement (marketers must consider this)
1. Evaluating Market Size and Population Growth Rate (Economic Analysis)
-Less developed nations are experiencing rapid population growth while more developed nations are stable -Countries being invested in right now may become unimportant in the future -BRIC (Brazil, Russia, India, China) countries are likely to be the source of the most market growth+expansion and have the most potential -Rural vs urban areas-> long supply chains=more $ -Firms can make changes to products existing in the market to fit certain markets, like lowering the cost of one time use products
Types of Buying Decisions
-Limited Problem Solving-> occurs during a purchase decision that calls for, at most, a moderate amount of effort and time; the customer has prior experience with the product or service, and there's low risk ex. impulse buying, habitual decision making which requires even less thought -Extended Problem Solving-> common when the customer perceives that the decision entails a lot of risk -Habitual -Impulse Buying
B2B Markets: Types of Business Buyers
-Manufacturers and Service Providers: Buy raw materials, components, and parts that allow them to make and market their own goods and ancillary services. -Resellers: Marketing intermediaries that resell manufactured products without significantly altering their form; wholesalers, distributors, retailers. -Institutions (hospitals, educational + religious organizations): Purchase all kinds of goods and services. They have an annual budget for certain things, and engage to fulfill their needs for capital construction, equipment, supplies, food, and janitorial services. -Government: In most countries, the central government is one of the largest purchasers of goods and services.
Growth Strategies for the Market
-Market Penetration: Strategy employs the existing marketing mix and focuses the firm's efforts on existing customers for a product or service; achieved by attracting new customers to the firm's current target market or encouraging current customers to patronize the firm more/buy more -Market Development: Strategy employs the existing market offering to reach new market segments -Product Development: Strategy offers a new product or service to the firm's current target market -Diversification: Strategy introduces a new product or service to a market segment that is currently not served; can be related or unrelated to the current target market and/or marketing mix
Segmentation, Targeting, and Positioning (STP)
-Market segments: Groups (as determined by relevant variables) of consumers in the marketplace. Consumers are similar within groups and different between groups. -Target market: The segment selected for which to direct marketing efforts. -Positioning: Establishing image/identity of a brand so that consumers perceive it in a certain way.
Performance Evaluation
-Metrics: Measuring system that quantifies a trend, dynamic or characteristic. Allows for results across regions/time- periods/SBU's/product lines, etc. to be compared. Explains results. -System should be data driven and timely.
Implementation: The Marketing Mix
-Product/Value creation -Price/Value capture -Place/Distribution or Value delivery -Promotion/Value communication
Responsibilities to Customers
-Right To Safe Products -Right To Be Informed -Right To Choose -Right To Be Heard
The External or Macro-environment of a Company
-Social environment (Demographics, Culture, Social trends) -Competitive Environment -Economic environment -Political/regulatory environment -Technological environment -Marketers must understand these in addition to their customers, the company itself, their competition, and their corporate partners (The Immediate Environment)
Global Marketing Mix: Global Distribution Strategies
-Some global channels are very long and complex. -Consumer shop local small local stores. -Suppliers must be creative in delivering to these outlets.
Situational Factors: Temporal State
-State of mind at any given moment that affects what is purchased -Advertisers and stores can't control these outside factors, so they try to provide the best experience in the store
Cognitive Dissonance
-The customer experiences feelings of post-purchase psychological tension or anxiety. -Some companies like to engage their consumers with post-purchase communications in an effort to influence their feelings about their purchase and future purchases. -An internal conflict that arises from an inconsistency between two beliefs or between beliefs and behavior. -Especially likely for products that are expensive, infrequently purchased, do not work as intended, and are associated with high levels of risk.
Business-to-Business Marketing
-The process of buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying organization, or for resale by wholesalers and retailers -More complex than B2C and are distinct in the ultimate user of the product or service; information search and alternative evaluation are more formal and structured for the business buyer than in B2C -The demand for B2B sales is often derived from B2C consumers in the same supply chain "derived demand" (a demand for a commodity, service, etc. which is a consequence of the demand for something else) -Involves manufacturers selling to wholesalers that, in turn, sell products to retailers -Similar to those who sell directly to the consumers, B2B firms focus on serving specific types of customer markets by creating values for those customers. -Also like B2C, B2B focuses on key industries or market segments
4. Analyzing Sociocultural Factors
-Understanding another country's culture is crucial to the success of any global marketing initiative -Culture can mean visible artifacts or underlying values -Cultural dimension concepts which shed more light on underlying values: power distance, uncertainty avoidance, individualism, masculinity, time orientation, indulgence -Overall culture affects every aspect of consumer behavior-> why people buy; who is in charge of buying decisions; and how, when, where people shop
Target Market Approaches
-Undifferentiated: One marketing mix, price, etc; mass-marketing when everyone might be a potential user of its product -Differentiated: Appeals to at least two market segments or target groups; target several marketing segments with a different offering for each -Concentrated: When an organization selects a single/primary target market and focuses all its energies on providing a product to fit a market's needs, Micro-marketing/one-to-one marketing; targeted to one specific market segment or audience; when a firm tailors a product or service to an individual customer's wants or needs and is very difficult to achieve Differentiated marketing focuses on a specific market, a "different" market, that is interested in buying a certain type of product. ... On the other hand, undifferentiated marketing is designed to appeal to a broad range of customers
Mission Statements and Vision Statements
-Vision statement may be separate or part of the overall mission statement. -Answers the question of "where" the company is going and what it hopes to ultimately achieve. -Alzheimer's Association: A world without Alzheimer's disease. -Microsoft (original): A computer on every desk and in every home.
1. Economic Analysis-General Economic Environment
-Well-established metrics-> the general economic environment, the market size, population growth rate, and real income -The US suffers a trade deficit where exports are more than imports; firms prefer a "trade surplus" -Gross Domestic Product (most widely used metric; GDP, or market value of goods + services produced by a country in a year) -Gross National Income (of GDP + the net income earned from investments abroad; US counts GNI abroad not GDP) -Purchasing Power Parity (PPP; a theory that states that if the exchange rates of r countries are in equilibrium, products will cost the same if expressed in the same currency) For US exporters, a weak dollar means greater demand for their products in foreign countries as they can sell at a lower price. -Human development index -Real income
Consumer Decision Process
need recognition (customers recognize that they have a unsatisfied need, and would like to got from their needy state to a satisfied one. Functional needs pertain to the performance of a product/service, and psychological needs pertain to the personal gratification) ->information search (Is about the various options that exist to satisfy that need. The length and intensity of the search are based on the degree of perceived risk associated. Internal search for information is where the buyer looks into his/her own memory or knowledge. External search is when the buyer seeks information outside his or her own personal knowledge base to help make the buying decision) ->evaluation of alternatives (sift through choices and evaluate) ->purchase decision [and consumption] (where companies do their best to convince customers to buy products at their store) ->post purchase evaluation (final steps where marketers are particularly interested, because it entails actual rather than potential customers. They want loyalty which requires customer satisfaction. Some customers may have post-purchase cognitive dissonance)
Some marketers sell to...
...all types of buyers
How to Avoid an Ethical Lapse
1) Is the action illegal? 2) Is it unfair to some parties? 3) If I take it, will I feel badly about it? 4) Will I be ashamed to tell my family, friends, coworkers, or boss? 5) Will I be embarrassed if my action is written up in the local newspaper? https://abcnews.go.com/US/oklahoma-judge-set-reach-decision-latest-major-opioid/story?id=65193231
The STP Process
1. Break the broad market into smaller, more homogeneous segments 2. Specifically target discrete market segments 3. Position the brand to appeal to the target market 1. Establish the overall strategy or objectives 2. Use segmentation methods (geographic, demographic, psychographic, benefit, behavioral) 3. Evaluate segment attractiveness; marketers first must determine whether the segment is worth pursuing (is the segment identifiable substantial, reachable, responsive, and profitable) 4. Select a target market targeting selections (undifferentiated, differentiated, concentrated) 5. Identify and develop a positioning strategy (can help communicate the firm's or the product's value proposition; benefits + why it should be purchased value + perceptual mapping is important)
How to Face an Ethical Dilemma
1. Define the problem and collect relevant facts 2. Identify feasible options 3. Assess the effect of each option on stakeholders 4. Establish criteria for determining the most appropriate action 5. Select the best option based on the established criteria
Requirements for Effective Segmentation
1. Measurable 2. Accessible 3. Substantial 4. Differentiable 5. Actionable Sometimes the different position + promotion of the product can change everything
Business Buyer Decision Process
1. problem recognition-> 2. general need description-> the buying organization recognizes, through internal or external sources, that is has an unfulfilled need 3. product specification-> specific demands given to vendors to develop proposals 4. supplier search-> Request for proposals (RFP); a common process through which organizations invite alternate vendors or suppliers to bid on supplying their required components or specifications 5. proposal solicitation-> proposal analysis, vendor negotiation, and selection; the buying organization in conjunction with its critical decision makers evaluates all the proposals it receives in response to its RFP 6. supplier selection 7. order-routine specification-> the firm places its order with its preferred supplier/s. The order includes a detailed description of everything. 8. performance review-> vendor performance assessment using metrics; firms analyze their vendors' performance so they can make decisions about future purchases. Typically a more formal and objective analysis than B2C.
Customer Relationship Management (CRM)
A company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups
When things don't go as planned (contingency planning and crisis management)
Contingency Planning- Identifies aspects most likely to be adversely affected by change, and develop alternative courses of action Crisis Management- Creates structure to deal with emergencies
Influences Upon Consumer Decision Process
Cultural, social, individual, and psychological factors affect all steps
Social Factors: Culture/Sub-culture
Culture: "Shared meanings, beliefs, morals, values and customs of a group of people." -Broad societal cultural -Sub-cultures: -Ethnic groups -Racial groups -Religious groups -Geographic groups The challenges for marketers is to have products and services identifiable by and relevant to a group of people
Relevant Demographic Info for Winnipesaukee Whisker Oil Co.
Demographics: -151.8 million US males/49.2% of population -60% of US men wear a beard always or sometimes/91.08 million in beard market -44% of US males aged 18-25 have full beard -25% of US males report using beard care products every day
Economic Environment
Economy: "Organized system of human activity involved in the production, consumption, exchange, and distribution of goods and services." -GDP -Inflation rate -Unemployment rate -Wage distribution -Interest rates -Business cycle: expansion, peak, recession or contraction, depression, trough, and recovery -The economic situation affects the way consumers buy merchandise and spend money
1. Evaluating Real Income (Economic Analysis)
Firms can make adjustments to an existing product or change the price to meet the unique needs of a particular country market.
How to Maintain Honesty and Integrity
Follow your own personal code of conduct, focus on your job at work, don't appropriate office supplies, be honest with everyone you come into contact with, remember that small things build your character
What is a marketing strategy?
Identifies (1) a firm's target market (2) a related marketing mix or the 4 P's (3) the bases on which the firm plans to build a sustainable competitive advantage (an advantage over the competition that is not easily copied and can be maintained over a long period of time; acts like a wall that the firm has built around its position in the market).
Individual (Final) Consumers Vs. Business Buyers
Individual Consumer: -Buys for personal consumption and/or use. Business Buyer: -Buys for operations and maintenance of business, or -Buys for an input the manufacturing process, or -Buys for resale
Global Marketing Mix: Global Communication Strategies
Literacy levels vary by country, Firms choose whether to adapt to language differences, Cultural and religious differences also matter
What is marketing really about?
Marketing is about the trade of things of value between the buyer and seller so that each is better off as a result. It has traditionally been divided into a set of 4 interrelated decisions, the four P's. Product (creating value), Price (Capturing value), Place (Delivering the value proposition), and Promotion (Communicating the value proposition). It can be B2B, B2C, or C2C. Understanding consumer needs is the key to marketing success.
Establishing Clear, Measurable Objectives
Meaningful objectives are specific, measurable, attainable, relevant and time-based. Strategic: -Long-term -Overall course of action -Established by upper-level managers -Implemented by managers at all levels Tactical: -Shorter term -Specify activities/resources needed to implement strategic plans -Operational- Detailed action steps taken to implement tactical plans and strategic plan
Psychological Factors for Consumer Decision Process
Motives: need or want that makes someone seek satisfaction --- Maslow's Hierarchy of Needs (In order of most to least important on a pyramid: self-actualization, self-esteem, affiliation with others like love and connection, safety, and physiological); enduring evaluations Attitudes: feelings or beliefs about an object or idea; lasting evaluations Components of attitude: -Cognitive, Affective, Behavioral Perception: the meaning applied to incoming stimuli; the process to forming a meaningful world picture -Selective perception-> require consumers' active engagement and thought -Subliminal perception-> consumers are not consciously aware of these messages, butyet they affect their behavior Learning: affects attitudes and perception; change in thought process/behavior arising from experiences Lifestyle: How the consumer spends their money and time
Political/Regulatory Environment
Political/Regulatory Environment: "comprises political parties, government organizations, and legislation and laws." -General categories affecting all businesses: -Consumer -Worker -Competition -Environmental -Organizations must fully understand and comply with any legislation regarding fair competition, consumer protection, or industry-specific regulation. -Legislation has protected consumers: 1. No false/misleading ads allowed 2. No harmful or hazardous materials that could put consumers at risk 3. Organizations must adhere to fair and reasonable business practices when they communicate with consumers
Code of Conduct
Principles & Guidelines Topics: -Use Of Corporate Funds & Resources -Conflict Of Interest -Protection Of Proprietary Information -Enforcement -Encourages & Provides Instructions for Reporting
Situational Factors: Purchase Situation
Purchase Situation: -need vs. want -value expectations -financial situation
Situational Factors: Shopping Situation
Shopping Situation: -In-store -Online -Presence of others
The Mission Statement: the heart of a marketing plan
Should answer the question: -Why do we exist? -Should make clear who the business exists to serve. -Articulate the organization's core functions. -Capture the organization's core values. Examples of well-crafted mission plans -Forbes: "To deliver information on the people, ideas and technologies changing the world to our community of affluent business decision makers." -Patagonia: "Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.
Technological Environment
Technological environment: "refers to the state of science and technology in the country and related aspects such as rate of technological progress, institutional arrangements for development and application of new technology, etc." Technological advances have accelerated in the past decade, improving the value of both products and services. -Autonomous vehicles and other devices -Artificial Intelligence (AI) -Digital ethics and privacy -Blockchain
Overview of the Marketing Plan
The marketing plan is a written document composed by an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategies, specified in terms of the 4 P's. A marketing plan has 5 steps: 1. Planning phase 2. Evaluate the situation 3. Implementation phase with the process of segmentation, targeting, and positioning (STP) 4. Implementing marketing plan using 4 P's (marketing mix) 5. Control phase Step 1: Define the business mission Step 2: Conduct a situation analysis of internal and external factors, SWOT; the opportunities and uncertainties of the marketplace due to changed in cultural, demographic, social, technological, economic, and political forces (DSTEP) Step 3: Identify and evaluate opportunities using STP Step 4: The firm implements its marketing mix and allocates resources to different products and services *key to success in marketing is creating value* Step 5: Evaluate performance using marketing metric
The Global Marketing Mix: Product or Service Strategies
There are three potential global market strategies; Sell the same product or service in both the home country market and host country-> Sell a product or service similar to that sold in home country but include minor adaptations-> Sell totally new products or services
Define the Marketplace
What it is, overall #, then subgroups
Basic Situations Causing Ethical Issues
bribes, conflicts of interest, conflicts of loyalty, issues of honesty and integrity, and whistle-blowing Interferes With Best Interest of Company Stakeholders; Use of Private Information "...individuals must choose between taking actions that promote their personal interests over the interests of others."
Segmentation Methods
geographic-> climate, city size, pop. density, regions, urban/suburban/rural, *popular demographic demographic-> age, gender, income etc. psychographic-> self-values, self-concept, lifestyle, how do they spend time, social class, personality traits, how do consumers see themselves benefits-> groups consumers on the basis of the benefits they derive from products or services behavioral-> benefit sought, occasion, user status, usage rate, loyalty status, divides customers into groups on the basis of how they use the product or service *the whole point is that within a segment there must be homogeneity/commonality, and a difference between segments
Types of Buying Situations
straight rebuy-> Occurs when the the buyer or buying organization simply buys additional units of a product that had been previously purchased. Many B2B purchases are likely to fall in this category. The buyer is the only one involved in the process. modified rebuy-> The buyer has purchased a similar product in the past, but has decided to change some specifications such as the desired price and quality. new buy-> A customer purchases a good or service for the first time; an involved purchase decision.
Global Marketing Mix: Pricing Strategies
tariffs, quotas, anti-dumping policies, economic conditions, competitive factors