Politecnico

di Torino Paolo FERRERO

1. Marketing
Why should we study marketing?
The aim of Marketing is to make selling unnecessary. Marketing is managing
profitable customer relationship. Its a managerial process deployed by an
organisation (individual or group).
In business-to-business marketing, it is an exchange between similar individuals
and groups.
In consumer markets, for one group marketing is a managerial process pursued
to fulfil their needs and wants, while the other group is just going through life
fulfilling their needs and wants.

What role does market play in satisfying human desires?
Marketing is a social and managerial process by which individuals and groups
obtain what they need, and want, through creating and exchanging products and
value with others.

What are the differences between the marketing management orientations?
1.Production concept: It holds that consumers will favor products that are
available and highly affordable, and that management should therefore focus on
improving production and distribution efficiency.
Its used in: (1) the demand for a product exceeds the supply. (2) the products
cost is too high and improved productivity is needed to bring it down.
2.Product concept: It holds that consumers will favor products that offer the
most quality, performance and innovative features, and that an organisation should
thus devote energy to making continuous product improvements.
3.Selling concept: It holds that consumers will not buy enough of the firms
product unless it undertakes a large-scale selling and promotion effort.
Its used in: (1) unsought goods those that buyers do not normally think of
buying. (2) non-profit area. (3) when firms have overcapacity
4.Marketing concept: It holds that achieving organizational goals depends on
knowing the needs and wants of target markets and delivering the desired
satisfaction better than competitors do.
5.Social marketing concept: It holds that the organisation should determine the
needs, wants and interests of target markets. It should then deliver the desired
satisfactions more effectively and efficiently than competitors in a way that
maintains or improves both the consumers and societys well-being. It should look
at the long-run consumer welfare.
6.Sustainable marketing concept: sustainable development meets the needs of
the present without compromising the ability of future generation to meet their own
need. Sustainable marketing counters today consumption against that of future
consumers and future society as a whole.

Which is a simple model of the marketing process?
1. Understand the marketplace and customer needs;
2. Design customer-driven marketing strategy;

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3. Construct an integrated marketing program;
4. Build profitable relationships and create customer delight;
5. Capture value from customers to create profits and customer equity.

Which are the components of the marketing mix?( Which are the 4 Ps?)
The marketing mix is the set of controllable tactical marketing tools that the
firm blends to produce the response it wants in the target market. It consists of
everything the firm can do to influence the demand for its product. They gather into
four broad groups: Product, Price, Place, and Promotion
Product means the totality of goods and services that the company offers the
target market.
Price is what customers pay to get the product.
Promotion means activities that communicate the merits of the product and
persuade target customers to buy it.
Place includes company activities that make the product available to target
consumers.

2. Marketing and society

Explain the role of ethics in marketing?
A company need to develop corporate marketing ethics policies broad
guidelines that everyone in the organisation must follow.

Which is the difference between consumerism and environmentalism?
Environmentalism is an organized movement of concerned citizens and
government agencies to protect and improve peoples living environment.
Consumerism is an organized movement of citizens and government agencies to
improve the rights and power of buyers in relation to sellers.

What is enlightened marketing?
Enlightened marketing is a marketing philosophy holding that a companys
marketing should support the best long-run performance of the marketing system.
It consists of five principles:
Consumer-oriented marketing: the company should views and organises its
marketing activities from the consumers point of view.
Innovative marketing: the company should continuously seek real product
and marketing improvements.
Value marketing: the company should put most of its resources into
value-building marketing investments.
Sense-of-mission marketing: the company should define its mission in
broad social terms rather than narrow product terms.
Societal marketing: the company should make marketing decisions by
considering consumers wants and long-run interests, the companys requirements
and societys long-run interests.

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3. Strategic marketing
Explain company-wide strategic planning and its four steps
Three stages of strategic market planning:
1st the strategic plan and its implications for marketing;
2nd the marketing process;
3rd ways of putting the plan into action.

Strategic planning:
The annual plan is a short-term plan that describes the current situation, company
objectives, the strategy for the year, the action programme, budgets and controls.
The long-range plan describes the primary factors and forces affecting the
organisation during the next several years, including the long-term objectives, the
main marketing strategies used to attain them and the resources required.
The strategic plan describes how a firm will adapt to take advantage of
opportunities in its constantly changing environment, thereby maintaining a
strategic fit between the organisations goals and capabilities and its changing
marketing opportunities.

Its 4 steps are:
Analysis: The company must analyse its environment to find attractive opportunities
and to avoid environmental threats. It must analyse company strengths and
weaknesses, as well as current and possible marketing actions, to determine which
opportunities it can best pursue. Analysis feeds information and other inputs to each
of the other stages.
Planning: Through strategic planning, the company decides what it wants to do with
each business unit. Marketing planning involves deciding marketing strategies that
will help the company attain its overall strategic objectives.
Implementation: It turns strategic plans into actions that will achieve the companys
objectives.
Control: It consists of measuring and evaluating the results of plans and activities,
and taking corrective action to make sure objectives are being achieved.

Which are the components for a strategic plan?
It contains several components: the mission, the strategic objectives, the strategic
audit, SWOT analysis, portfolio analysis, objectives and strategies.
1st Overall purpose and mission
2nd Formation of measurable corporate objectives
3rd corporate audit
4th SWOT analysis
5th Portfolio analysis
6th Detailed marketing and other functional plans

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Which is the brand statement mission?
A mission statement is a statement of the organisations purpose what it
wants to accomplish in the larger environment. It should be market-oriented.
What business are we in?
Who are our customers?
What are we in business for?
What sort of business are we?

A mission should be: Realistic; Specific; Based on distinctive competencies;

Motivating. Visions guide the best missions.

What is the SWOT analysis?
A SWOT analysis draws the critical strengths weaknesses opportunities and
threats from the strategic audit.
Opportunities: Economic climate, demographic changes, market, technology.
Threats: Competitive activity, channel pressure, demographic changes, politics
Strengths and weaknesses: the strengths and weaknesses in the SWOT analysis
do not list all features of a company, but only those relating to critical success factors,
the strengths or weaknesses are relative not absolute.
It is a brief list of the critical success factors in the market, and rates strengths
and weaknesses against the competition.
The SWOT analysis should include costs and other non-marketing variables. The
outstanding opportunities and threats should be given. If plans depend upon
assumptions about the market, the economy or the competition, they need to be
explicit.

What is a business portfolio?
The business portfolio is the collection of businesses and products that make
up the company. It is a link between the overall strategy of a company and those of
its parts.
The best business portfolio is the one that fits the companys strengths and
weaknesses to opportunities in the environment. The company must
(1) analyses its current business portfolio and decide which businesses should
receive more, less or no investment,
(2) develop growth strategies for adding new products or businesses to the
portfolio. Market penetration; Market development; Diversification

Which role marketing plays in strategic planning?
Marketing looks at consumer needs and the companys ability to satisfy them. It
plays a key role in the company's strategic planning in several ways:
1st marketing provides a guiding philosophy - the marketing concept - which
suggests that company strategy should revolve around building profitable
relationships with important consumer groups;
2nd marketing provides input to strategic planners by helping to identify active
market opportunities;
3rd within individual business units, marketing designs strategies for reaching
the unit's objectives.

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4. The marketing environment
Describe the environmental forces that affect a companys ability to serve its
customers;
Explain how changes in the demographic and economic environments affect
marketing decisions;
Explain the key changes in the political and cultural environments

The microenvironment consists of the forces close to the company that affect its
ability to serve its customers the company, suppliers, marketing channel firms,
customer markets, competitors and publics.

The Company: all the departments(top management, finance, R&D, purchasing,
manufacturing and accounting) inside the company must think customer and they
should work in harmony to provide superior customer value and satisfaction.
Suppliers are an important link in the companys overall customer value
delivery system.
Marketing intermediaries are firms that help the company to promote, sell and
distribute its goods to final buyers.( Resellers, Physical distribution firms, Marketing
services agencies, Financial intermediaries)
Customer: There are 6 types of customer market:
1)Consumer markets 2)Business markets 3)Reseller markets
4) Institutional markets 5) Government markets 6) International markets
Competitors: a company must provide greater customer value and satisfaction
than its competitors do. They must also gain strategic advantage by positioning their
offerings strongly against competitors offerings in the minds of consumers.
Public is any group that has an actual or potential interest in or impact on an
organisations ability to achieve its objectives.
1)Financial publics 2)Media publics 3)Government publics.
4)Citizen action publics 5)Local publics 6)General public 7)Internal publics

The macroenvironment consists of the larger societal forces that affect the whole
microenvironment demographic, economic, natural, technological, political and
cultural forces.

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Demography is the study of human populations in terms of size, density,
location, age, gender, race, occupation and other statistics. The demographic
environment is of major interest to marketers because it involves people, and people
make up markets.
Population size and growth trends
Changing age structure of a population
The changing family
Pressures for migration
Rising number of educated people
Increasing diversity
Economic environment consists of factors that affect consumer purchasing
power and spending patterns. Nations vary in their levels and distribution of income.
Some countries have subsistence economies they consume most of their own
agricultural and industrial output, hence offer few market opportunities. At the
other extreme are industrial economies, which constitute rich markets for different
kinds of goods. Marketers must pay close attention to major trends and consumer
spending patterns both across and within their world markets.
Income distribution and changes in purchasing power
Changing consumer spending patterns
Natural environment involves the natural resources that are needed as inputs
by marketers, or that are affected by marketing activities.
Shortages of raw materials
Increased cost of energy
Increased pollution
Government intervention in natural resource management
Technological environment is perhaps the most dramatic force now shaping our
destiny, the technological environment changes rapidly. Marketers should be aware
of the following trends in technology.
Fast pace of technological change
High R&D budgets
Concentration on minor improvements
Increased regulation
Political environment consists of laws, government agencies and pressure
groups that influence and limit various organizations and individuals in a given
society.
Legislation regulating business

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Growth of public interest groups
Increased emphasis on ethics and socially responsible actions
Cultural environment is made up of institutions and other forces that affect
society's basic values, perceptions, preferences and behaviors.
Persistence of cultural values
Shifts in secondary cultural values

Peoples
Peoples
Peoples
Peoples
Peoples
Peoples

views
views
views
views
views
views

of
of
of
of
of
of

themselves
others
organisations
society
nature
the universe

5. Consumer markets
Cultural
Culture
Subculture
Social class

Social
Reference
group
Family
Roles and
status

Personal
Buyers age
Lifecycle
stage
Occupacon
Economic
situacon
Lifestyle
Personality
Self-concept

Buyer

Psychological
Mocvacon

Percepcon
Learning
Beliefs and
adtudes

Describe how culture, subculture and social class influence consumer buying
behavior.
Cultural is the most basic cause of a person's wants and behaviours. Human
behaviour is largely learned. Growing up in a society, a child learns basic values,
perceptions, wants and behaviors from the family and other important institution.
Subculture - A group of people with shared value systems based on common
life experiences and situations. Many subcultures make up important market
segments.
It includes nationalities, religions, racial groups and geographic region.
Social classes are society's relatively permanent and ordered divisions whose
members share similar values, interests and behaviors.

Describe how consumers personal characteristics and primary psychological factor
affect their buying decisions.
Personal factors:
Age and life-cycle stage: People change the goods and services they buy over
their lifetimes. Tastes in food, clothes, furniture and recreation are often age related.
Occupation: Persons occupation affects the goods and services bought.

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Blue-collar workers tend to buy more work clothes, whereas office workers buy
more smart clothes.
Economic circumstances: Some marketers target consumers who have lots of
money and resources, charging prices to match.
Lifestyle: People coming from the same subculture, social class and occupation
may have quite different lifestyles. Lifestyle is a person's pattern of living as
expressed in his or her activities, interests and opinioned. Lifestyle captures
something more than the persons social class or personality. It profiles a person's
whole pattern of acting and interacting in the world.
Personality and self-concept: Each person's distinct personality influences his or
her buying behavior. Personality refers to the unique psychological characteristics
that lead to relatively consistent and lasting responses to one's own environment.

Psychological factors:
Motivation: A person has many needs at any given time. Most of these needs
will not be strong enough to motivate the person to act at a given point in time. A
need becomes a motive when it is aroused to a sufficient level of intensity.
A motive (or drive) is a need that is sufficiently pressing to direct the person to
seek satisfaction.
Perception: A motivated person is ready to act, how the person acts is
influenced by his or her perception of the situation. Perception is the process by
which people select, organise and interpret information to form a meaningful picture
of the world.
Selective attentionthe tendency for people to screen out most of the
information to which they are exposed
Selective distortionthe tendency of people to adapt information to
personal meanings.
Selective retentionthe tendency of people to retain only part of the
information to which they are exposed, usually
information that supports their attitudes or beliefs.
Learning: When people act, they learn. Learning describes changes in an
individual's behavior arising from experience.
Beliefs and attitudes: Through doing and learning, people acquire their beliefs
and attitudes. These, in turn, influence their buying behavior. A belief is a descriptive
thought that a person has about something. An attitude describes a person's
relatively consistent evaluations, feelings and tendencies towards an object or idea.

Describe the Maslows hierarchy of need (Maslows theory of motivation)
A person tries to satisfy the most important need first. When that important
need is satisfied, it will stop being a motivator and the person will then try to satisfy
the next most important need.

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Which are the stages in the buyer decision process?
Need
recognicon

Informacon
search

Evaluacon of
alternacves

Purchase
decision

Postpurchase
behaviour

Need recognition- the consumer recognises a problem or need. The buyer

senses a difference between his or her actual state and some desired state. The need
can be triggered by internal stimuli.
Information search- the consumer is aroused to search for more information;
the consumer may simply have heightened attention or may go into active
information search through:
Personal sources: family, friends, neighbours, acquaintances
Commercial sources: advertising, salespeople, the Internet, packaging,
display
Public sources: mass media, consumer-rating organisations
Experiential sources: handling, examining, using the product.
Evaluation of alternatives- the consumer uses information to evaluate
alternative brands in the choice set.
Purchase decision- Generally, the consumers purchase decision will be to buy
the most preferred brand, but others factors will also influence the decision:
the attitudes of others, unexpected situational factors & perceived risk .

6. Business-to-business marketing
How does the business buying process differ from the consumer buying process?
Business buying process is the decision-making process by which business
buyers establish the need for purchased products and services, and identify,
evaluate and choose among alternative brands and suppliers.

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Problem recognition- someone in the company recognises a problem or a need
that can be met by acquiring a specific good or a service. It can result from internal
or external stimuli.
General need description- it describes the characteristics and quantity of the
needed item.
Product specification- the buying organisation decides on and specifies the best
technical product characteristics for a needed item.
Supplier search- the buyer tries to find the best vendors.
Proposal solicitation- the buyer invites qualified suppliers to submit proposals.
Supplier selection- the members of the buying centre review the proposals and
select a supplier or suppliers.
Order-routine specification- It includes the final order with the chosen supplier
or suppliers and lists items such as technical specifications, quantity needed,
expected time of delivery, return policies and warranties.
Performance review- the buyer reviews supplier performance. The buyer may
contact users and ask them to rate their satisfaction. It may lead the buyer to
continue, modify or drop the arrangement.

Outline the major influences on business buyers?
Environmental factors
Business buyers are influenced heavily by factors in the current and expected
economic environment, such as the level of primary demand, the economic outlook,
and the cost of money. An increasingly important environmental factor is shortages
in key materials.
Organisational factors
Each buying organisation has its own objectives, policies, procedures, structure
and systems. Upgraded purchasing; Centralised purchasing; Long-term contracts;

Just-in-time production systems; Purchasing performance evaluation

Interpersonal,
The buying centre usually includes many participants who influence each other.
Individual,
Each participant in the business buying-decision process brings in personal
motives,
Buyers

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7. Marketing research
Explain the importance of information (MIS) to the company and its understanding
of the marketplace.
A marketing information system (MIS) consists of people, equipment and
procedures to gather, sort, analyses, evaluate and distribute needed, timely and
accurate information to marketing decision makers. Successful marketing is likened
to developing products and services that do not currently exist for customers who do
not know they want them. It is about needing to know the future and marketing
research can help us do just that. In order to tackle any business or social problem,
companies need information at almost every turn. Companies so need an abundance
of information on competitors, resellers and other actors and forces in the
marketplace. Companies must design effective marketing information systems that
give managers the right information, in the right form, at the right time to help them
make better marketing decisions.

Outline some strengths and weakness of marketing research conducted online
Marketing research conducted online: online research is one of the best
methods for gathering information quickly at an excellent low cost per respondent, it
can be used to collect large amounts of information, and it provides greater
flexibility than mail questionnaire, it has an excellent control of sample and of
interviewer effects, and it has a good response rate.
The method shares a problem with postal surveys: knowing whos in the sample.
Trying to draw conclusions from a self-selected sample of online users, those who
clicked through to a questionnaire or accidentally landed in a chat room can be
troublesome.
Eye contact and body language are two direct, personal interactions of
traditional focus group research that are lost online.

8. Relationship marketing
Define customer value and why is it important in creating and measuring customer
satisfaction
Customer delivered value: The difference between total customer value and
total customer cost of a marketing offer to the customer.
Total customer value: The total of the entire product, services, personnel and
image values that a buyer receives from a marketing offer.
Total customer cost: The total of all the monetary, time, energy and psychic
costs associated with a marketing offer.
Customer satisfaction: Consumers form judgments about the value of
marketing offers and make their buying decisions based upon these judgments.
Customer satisfaction with a purchase depends upon the product's performance
relative to a buyer's expectations.

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Which are the concepts of value chains and value delivery systems and explain
how companies go about producing and delivering customer value?
Value chain is the main tool for identifying ways to create more customer value.
It breaks a firm into nine value-creating activities to understand the behavior of costs
in the specific business and potential sources of competitive differentiation.

A customer value delivery system is a system made up of the value chains of the
company and its suppliers, distributors, and ultimately customers, who work
together to deliver value to customers.

Which is the role of customer relationship management?
Customer relationship management involves managing detailed information about
individual customers and carefully manage customer touch points. These touch
points include customer purchases, sales force contacts, service and support calls,
website visits, satisfaction surveys, credit and payment interactions, market research
studies every contact between the customer and the company.

9. block
Define the four steps in designing a customer-driven marketing strategy

Market segmentation involves dividing large, heterogeneous markets
into smaller segments that can be reached more efficiently and effectively with
products and services that match their unique needs.
9.2 Which are the possible value propositions?

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10. block
10.1 What is a competitive advantage?
A competitive advantage is an advantage over competitors gained by offering
consumers greater value, either through lower prices or by providing more benefits
that justify higher prices.
10.2 Why is it fundamental to understand competitors as well as customers through
competitor analysis?
10.3 Which are the fundamentals of competitive marketing strategies based on
creating value for customers?
10.4 What are the advantages and disadvantages of a market-nicher strategy?
11.1 define the term product
A product is anything that can be offered to a market for attention, acquisition, use
or consumption that might satisfy a want or need.
11. block
11.2 Explain the main classifications of products?

11.3
Describe the decisions companies make regarding their individual products,
product lines, and product mixes?
Individual product decisions: Product attributes (Product quality Product features
Product style and design)
Branding Packaging Labeling Product-support services
A brand is a name, term, sign, symbol, or design, or a combination of these that
identifies the goods or services of one seller or group of sellers and differentiates
them from those of competitors.
Packaging: To hold and protect to attract attention To describe the product To make

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a sale
Label: Identify products or brands Grade the product Describe the product Promote
the product
Product lines: Product line stretching means increasing the product line by
lengthening it beyond its current range
Product line filling means increasing the product line by adding more items within
the present range of the line
Product mix decisions: Add new product lines, widening its product mix
Lengthen its existing product lines to become a more full-line company
Add more product versions of each product
Pursue more or less product line consistency depending upon goals
12. block
12.1 Which are the steps in the new-product development process?

12.2
Explain how companies find and develop new-product ideas?
Internal sources: Formal
researchExecutivesEngineersDesignersManufacturersSalespeople
External sources: CustomersCompetitorsDistributors, suppliers, others
Ideas are screened by product review committees who review a summary of the
idea complete with estimates of market size, product price, development time and
costs, manufacturing costs, and rate of return
12.3
describe the stages of the product life-cycle?

12.4 explain how marketing strategy changes during a products life-cycle phase?

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13. block
13.1 what is a service?
A service is any activity or benefit that one party can offer to another which is
essentially intangible and does not result in the ownership of anything.
13.2describe the tangible-intangible continuum for goods and services?

13.3which r the service characteristic?

Service intangibility means that services cannot be seen, tasted, felt, heard or
smelt before they are bought
Service inseparability means that services are produced and consumed
at the same time and cannot be separated from their providers, whether the
providers are people or machines.
Service variability means that services may vary greatly depending on who provides
them and when, where, and how.
Service perishability means that services cannot be stored for later sale
or use.
14. block
14.1what is price?
Price is the amount of money charged for a product or service, or the sum of the
values that consumers exchange for the benefits of having or using the product or
service.
14.2 why is it important to understand customer value perceptions when setting
price?

14.3 what r the differences between cost-based and value-based pricing?

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15. block
15.1 What is the promotional mix?
Promotion mix (marketing communications mix) is the specific mix of advertising,
sales promotion, public relations, personal selling, and direct marketing tools that
the company uses to persuasively communicate customer value and build customer
relationships.
15.2 what is integrated marketing communications(IMC)?
Integrated marketing communications is the concept under which a company
carefully integrates and coordinates its many communications channels to deliver a
clear, consistent and compelling message about the organisation and its products.
15.3 what is the AIDA model?
AttentionInterest---Desire----Action
15.4 descibePush versus pull promotion strategy

16. block
16.1 what is advertising?
Advertising is any paid form of non-personal presentation and promotion of ideas,
goods or services by an identified sponsor
16.2 what is a creative concept?
A creative concept is the compelling big idea that will bring the advertising message
strategy to life in a distinctive and memorable way
16.3 what do reach ,frequency, and impact mean in advertising?
Reach is the percentage of people in the target market exposed to an ad campaign
during a given period
Frequency is the measure of how many times the average person in the target
market exposed to the massage

Media impact is the qualitative value of an exposure through a given medium
16.4 what ad delivery patterns r possible?
Continuity is scheduling ads evenly within a given period
Pulsing is scheduling ads unevenly, in bursts, over a certain time period
16.5 which r the main issue that u have to take in account in the international
advertising decisions?

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Standardisation or differentiation
Centralisation or decentralisation
Media planning, buying and costs
International advertising regulations
16.6 what is public relations?
Public relations refers to building good relations with company publics by obtaining
favourable publicity, building up a good corporate image, and handling or heading
off unfavourablerumours, stories and events.
17. block
17.1what is personal selling?
Personal selling is personal presentation by the firms sales forcefor the purpose of
making sales and building customer relationships.
17.2 which r the steps in sales force management?
Design strategy and structureRecruit and select people Train
salespeopleCompensate salespeople
Supervise salespeopleEvaluate salespeople
17.3what is the workload approach to sales force size?
The workload approach is an approach to setting sales force size by accounting for
the size, account status, and other factors related to the effort required to maintain
them, and then determining how many salespeople are needed to call on them the
desired number of times.

17.4which are the steps in effective selling?
Prospecting and qualifyingPre-approach ApproachPresentation and
demonstrationHandling objectionsClosingFollow-up
17.5what is relationship marketing?
Relationship marketing is the process of creating, maintaining and enhancing strong,
value-laden relationships with customers and other stakeholders.
17.6what r sales promotions?
Sales promotions are short-term incentives to encourage purchase or sales of a
product or service.
18. block
18.1 what is direct marketing?
Direct marketing is the direct communication with carefully targeted individual
customers to both obtain an immediate response and cultivate lasting customer
relationships.
18.2 what is a customer database?
A customer database is an organised collection of comprehensive data about
individua customers or prospects, including geographic, demographic, psychographic
and behavioural data
18.3 what do clicks-and mortar marketers mean?

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19. block
19.1 what is a value delivery network?
A value delivery network is a network made up of the company, suppliers,
distributors and customers who partner with each other to improve the
performance of the entire system
19.2 what is a marketing channel?
A marketing channel (also known asa distribution channel) is a set of
interdependent organizations involved in the process of making a product or service
available for use or consumption by the consumer or business user.
19.3 what is a franchise?
A franchise organization is the most common type of contractual
relationship, which exists between a manufacturer, wholesaler or service
organization and independent businesspeople (franchisees) who buy the right to
own and operate one or more units in the franchise system.
19.4 what is disintermediation ?
Disintermediation is the elimination of a layer of intermediaries from a
marketing channel or the displacement of traditional resellers by radically
new types of intermediaries
19.5what is retailing?
Retailing includes all the activities involved in selling goods and services directly to
final consumers for their personal, non-business use.
19.6 what is marketing logistic?
Market logistics includes all the tasks involved in planning, implementing and
controlling the physical flow of goods, services and related information from points
of origin to points of consumption or use to meet customer requirements at a profit.
20. block
20.1 what is global marketing?
Global marketing is marketing that integrates or standardises marketing actions
across geographic markets.
20.2what promote the WTO and GATT?
The GATT promotes world trade by reducing tariffs and other international trade
barriers. The WTO oversees GATT.
General Agreement on Tariff and Trade

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World Trade Organizaiton
20.3 what and which r the main regional free trade zones?
Regional free trade zones are economic communities based on groups of nations
organised to secure common goals in the regulation of international trade
EU European Union
NAFTA North American Free Trade Agreement
CAFTA Central American Free Trade Agreement
FTAA Free Trade Area of the Americas
MERCOSUR Latin American and South American
CAN
Andean Countries
CSN South American Community Nations
20.4 which indicators of market potential do u use?
Demographic characteristics
Geographic characteristics
Economic factors
Technological factors
Socio-cultural factors
Political and legal factors

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