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An increase in the demand for plant and equipment can lead to a much larger increase in consumer demand. This is known as the acceleration effect.

If firms wish to maximize their market share, they should opt for market-skimming pricing.

Although consumers may have fairly good knowledge of the range of prices involved, very few can accurately recall specific prices of products.

Nestlé, Unilever, and Modelēz get close to or above 40 percent of their total business coming from emerging markets.

The business buyer makes the fewest decisions in the straight rebuy situation and the most in the new-task situation.

Product adaptation not only involves altering the product to meet local preferences, but also calls for a change in the communication strategy.

Brand personality is the specific mix of human traits that may be attributed to a particular brand.

Sensory memory is the virtually unlimited repository where information that we encounter as we go through life ends up.

When PepsiCo sold its cola syrup to Russia for rubles and agreed to buy Russian vodka at a certain rate for sale in the United States, it was engaged in the form of countertrade known as an offset.

Once a company decides to target a particular country, it must determine the best mode of entry. Its broad choices are indirect exporting, direct exporting, licensing, joint ventures, and direct investment.