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1. What are the various B2B markets?

Resellers, Institutions, Government, Manufactures/ Service providers.

2. Who is the user?

The person who consumes or uses the product or service purchased by buying center.

3. Identify the stages in the B2B buying process?

Need Recognition Product specification RFP Proposal analysis and supplier selection Order specification Vendor/performance assessment using metrics

4. How do you perform a vendor analysis?

The buying team develops a list of issues that it believes are important to consider in the evaluation of the vendor. To determine how important each of these issues (in column 1) is, the buying team assigns an importance score to each (column 2). The more important the issue, the higher a score it will receive, but the importance scores must add up to.  In the third column, the buying team assigns numbers that reflect its judgments about how well the vendor performs.  To get the overall performance of the vendor, in the fourth column, the team combines the importance of each issue and the vendor's performance scores by multiplying them together.

5. What factors affect the B2B buying process?

The buying center, the buying organization's philosophy or corporate culture, and the buying situation.

6. What are the six different buying roles?

Influencer, decider, buyer, user, gatekeeper, initiator.

7. What is the difference between new buy, rebuy, and modified rebuy?

In a new buy situation, a customer purchases a good or service for the first time, the buying decision is likely to be quite involved The buying center is likely to proceed through all six steps in the buying process and involve many people in the buying decision. In a modified rebuy, the buyer has purchased a similar product in the past but has decided to change some specifications, such as the desired price, quality level, customer service level, options, or so forth. Straight rebuys occur when the buyer or buying organization simply buys additional units of products that had previously been purchased.

Answer the following questions after you read the chapter that covers Global Marketing 

1. What metrics can help analyze the Economic Environment of a country?

The general economic environment, the market size and population growth rate, and real income

2. What types of Government Actions should we be concerned about as we evaluate a country?

Quota

Exchange control

Tariff

Trade agreement

3. What are five important Cultural Dimensions?

1.Power distance

2.uncertainty avoidance

3.individualism

4.Masulinity

5.Time orientation

4. Why are each of the BRIC countries viewed as potential candidates for global expansion?

a. Brazil's ability to weather, and even thrive, during the most recent economic storm, has transformed it into a global contender. b. Russia has undergone multiple up- and downturns in its economy. However, its overall growth prospects appear promising, especially as a consumer market. With more that 1.1 billion people, or approximately 15% of the world's population, together with expanding middle and upper classes. c. India is one of the world's fastest growing markets. d. China's leadership, while maintaining communist political ideals, has embraced market-oriented economic development, which has led to startlingly rapid gains.

5.Which Global Entry strategy has the least risk and why?

Exporting--this strategy requires the least financial risk buy also allows for only a limited return to the exporting firm. Global expansion often begins when a firm receives an order for its product or service from another country, in which case it faces little risk because it has no investment in people, capital equipment, buildings, on infrastructure.

6. Which Global Entry strategy has the most risk and why? Direct investment--this strategy requires the firm to maintain 100% ownership of its plants, operation facilities, and offices in a foreign country, often through the formation of wholly owned subsidiaries. this entry strategy requires the highest level of investment and exposes the firm to significant risks, including the loss of its operation and/or initial investments.

7. What are the components of a Global Marketing strategy?

Determining the target markets to pursue and developing a marketing mix that will sustain a competitive advantage over time.

8. What are the three Global Product strategies?

1. Sell the same product or service in both the home country market and the host country. 2. Sell a product or service similar to that sold in the home country but include minor adaptations. 3. Sell totally new products or services.

9. What does the term Boycott pertain to?

to stop buying or using the goods or services of a certain company or country as a protest;

10. What does Cultural Imperialism refer to?

Domination of one group over others through the spread of cultural forms, practices and products.

11. Describe Exchange Control

government-imposed limitations on the purchase and/or sale of currencies. These controls allow countries to better stabilize their economies by limiting in-flows and out-flows of currency, which can create exchange rate volatility.

12. What is the purpose of the General Agreement on Tariffs and Trade (GATT)?

The General Agreement on Tariffs and Trade (GATT) is a catalyst for free trade. The General Agreement on Tariffs and Trade (GATT) was implemented to further regulate world trade to aide in the economic recovery following the war. GATT's main objective was to reduce the barriers of international trade through the reduction of tariffs, quotas and subsidies. The US initiated negotiations with 22 other countries that led to commitments to regulate 45,000 tariff rates.  The purpose of the General Agreement on Tariffs and Trade (GATT) was to lower trade barriers such as high tariffs on imported goods and restrictions on the number and types of imported products that inhibited the free flow of goods across borders.

13. When the book refers to Infrastructure, what is the author talking about?

Infrastructure is the basic facilities, services, and installations needed for a community or society to function. A firm's ability to conduct business in a particular country is in large measure determined by that country's infrastructure Without infrastructure, a country cannot develop • Transportation • Communication  • Distribution channel • Commerce

14. What is a Quota?

Designates the maximum quantity of a product that may be brought into a country during a specified time period.

15. Describe Tariff?

A tax levied on a good imported into a country.

16. Explain the term Trade Agreement

Intergovernmental agreements designed to manage and promote trade activities for specific regions.