2.4 Globalisation

Question 1

Multinational company

Answer 1

companies that operate in a number of countries around the world.

Question 2

Tariff

Answer 2

A tariff is a tax on imported goods and services

Question 3

Trading blocs

Answer 3

A trading bloc is another potential barrier to international trade. A trading bloc is a group of countries that work together to provide special deals for trading. This promotes trade between specific countries within the bloc.

Question 4

E-commerce

Answer 4

E-commerce is any business transaction that takes place using the internet

Question 5

The marketing mix

Answer 5

The marketing mix is made up of the four Ps – product, price, place and promotion. It is a marketing tool used to attract customers to a business, and all four elements should be carefully considered in order for a business to be effective.

Question 6

Changes to promotion

Answer 6

promotion - cultural and social differences, language and translations

Question 7

Changes to price

Answer 7

may be affected by tariffs and trading blocs, income levels and disposable income, tax, exchange rates and level of demand

Question 8

Changes to place

Answer 8

place - access to the internet in certain countries, purchasing preferences in some countries and distribution links in certain countries