Global Brand – A brand that is marketed according to the same strategic principles in every part of the world.
Global Corporation – A stage of development of a company doing business outside the home country.
Global Marketing – 1.(global marketing definition) A marketing strategy that consciously addresses global customers, markets,and competition in formulating a business strategy. 2. (consumer behavior definition) An approach to international strategy that argues for marketing a product in essentially the same way everywhere in the world.
Global Marketing Information Systems – A system designed to acquire, store, catalog, analyze, and make available to decision makers information from global sources within and external to the firm for use as the basis for planning and decision making.
Global Retailing – Any retailing activity that spans national boundaries.
Global Strategic Partnerships – A linkage between two companies to jointly pursue a common goal on a global scale. They also are called strategic alliances and collaborative agreements.
Global Strategy – A strategy that seeks competitive advantage with strategic moves that are highly interdependent across countries. These moves include most or all of the following: a standardized core product that exploits or creates homogenous tastes or performance requirements, significant participation in all major country markets to build volume, a concentration of value creating activities such as R&D and manufacturing in a few countries, and a coherent competitive strategy that pits the worldwide capabilities of the business against the competition.
Goal – A concrete, short-term point of measurement that the business unit intends to meet in pursuit of its objectives. An overall objective converts into specific short-run goals.
Gondola – A gondola is an island type of self service counter with tiers of shelves back-to-back.
Good Guy-Bad Guy Routine – A negotiation strategy in which one member of a sales team makes an attractive offer to the prospect (a good guy) and another member discusses the difficulty in making such an attractive offer (bad guy). The objective of the strategy is to get the prospect to accept the good guy’s proposal.
Good(s)- A product that has tangible form, in contrast to services that are intangible.
Government Information on Industrial Markets – The set of data about industrial markets that the government collects and distributes. It tends to be organized around the Standard Industrial Classification (SIC) system.
Government Market – This market includes purchases by the governmental units – federal, state and local -that procure or rent goods and services in carrying out the main functions of the government. The federal government accounts for almost 40 percent of the total spent by all levels of government, making it the nation’s largest customer. Federal, state, and local government agencies buy a wide range of products and services. The buy bombers, sculpture, chalkboards, furniture, toiletries, clothing, fire engines, vehicles, and fuel.
Grade Labeling – A system of identification that describes products by their quality, using agreed-on numbers or letters. The grade classes (standards) and the requirements for each are usually assigned by a government or trade group, and the actual scoring is sometimes done by inspectors. Grade labeling leads to product standardization and ease of comparison by the buyer, often the purpose of the labeling.
Grading – The classifying of a product by examining its quality. It is often done with a program of grade labeling though individual firms can grade their own products by a private system if they wish, e.g., Good, Better, Best.
Graphic-Rating Scale – A scale in which individuals indicate their ratings of an attribute by placing a check at the appropriate point on a line that runs from one extreme of the attribute to the other.
Gravity Model – A theory about the structure of market areas. The model states that the volume of purchases by consumers and the frequency of trips to the outlets are a function of the size of the store and the distance between the store and the origin of the shopping trip.
Gray Market Good – Merchandise that possesses a valid U.S. registered trademark and is made by a foreign manufacturer, but is imported into the United States without permission of the U.S. trademark owner.
Green Marketing – 1. (retailing definition) The marketing of products that are presumed to be environmentally safe. 2. (social marketing definition) The development and marketing of products designed to minimize negative effects on the physical environment or to improve its quality. 3. (environments definition) The efforts by organizations to produce, promote, package, and reclaim products in a manner that is sensitive or responsive to ecological concerns.
Gridiron Pattern – A store layout of fixtures and aisles in a repetitive or rectilinear pattern, best illustrated by a variety store or the grocery department in a typical supermarket. Secondary aisles run at right angles to aisles, and each aisle is usually of the same width for its length.
Gross Additional Markup -The original amount of additional markup taken before subtraction of any additional markup cancellations to determine net additional markup.
Gross Cost of Merchandise Handled – The cost value of the opening inventory plus purchases and additions at billed cost.
Gross Cost of Merchandise Sold – The gross cost of merchandise handled less the closing inventory at cost. The gross cost of merchandise sold is subtracted from net sales to calculate maintained markup. Maintained markup is then adjusted by cash discounts and workroom costs to determine gross margin of profit.
Gross Domestic Product (GDP) – 1. An estimate of the total national output of goods and services produced in a single country in a given time period and valued at market price. 2. GDP equals gross national product less net property income from abroad.
Gross Investment – The total market value of all capital goods included in the gross national product in a given period.
Gross Leasable Are (GLA) – The area of a shopping plaza that is assigned to stores, including exits, corridors, and open space.
Gross Margin of Profit – The difference between net sales and total cost of goods sold.
Gross Margin Return on Inventory Investment (GMROI) For each dollar invested in merchandise inventory, the equivalent dollars generated in gross margin. It is usually stated as the gross margin as percentage of the average inventory investment at cost.
Gross Markdown – The original amount of markdown taken before subtraction of any markdown cancellation to determine net markdown.
Gross National Product (GNP) – 1. The money value of a nation’s entire output of final commodities and services in a given period. 2. personal consumption expenditures plus gross private domestic investment plus net exports of goods plus government purchases of goods and services. The U.S. Department of Commerce has published continuously the national income statistical series since 1947. In former years gross national product was emphasized by politician, the press, etc.; in more recent years gross domestic product has been emphasized.
Gross Profit – 1. Net sales minus cost of goods sold. 2. The difference between purchase price of an item and the sale price.