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Marketing 101 > Ch 4 > Flashcards

Ch 4 Flashcards

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1
Q

Global Marketing

A

Marketing that targets markets throughout the world

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2
Q

Global Vision

A

A recognition of and reaction to international marketing opportunities using effective global marketing strategies and being aware of threats from foreign competitors in all markets

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3
Q

Gross Domestic Product (GDP)

A

The total market value of all goods and services produced in a country for a given period

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4
Q

Outsourcing

A

The practice of using an outside supplier, generally where the production costs are lower, to complete the work

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5
Q

Inshoring

A

Returning jobs to Canada

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6
Q

Multinational Corporations

A

Using more capital than labour in the production process

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7
Q

Global Marketing Standardization

A

Production of uniform products that can be sold the same way all over the world

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8
Q

Gross National Income (GNI) per capita

A

One measure of the ability of a country’s citizens to buy various good and services

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9
Q

Mercosur

A

The largest Latin American trade agreement, made up of Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela

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10
Q

Uruguay Round

A

An agreement created by the World Trade Organization to dramatically lower trade barriers worldwide

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11
Q

World Trade Organization (WTO)

A

A trade organization that replaced the old General Agreement on Tariffs and Trade (GATT)

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12
Q

General Agreement on Tariffs and Trade (GATT)

A

A trade agreement that contained loopholes that enable counties to avoid trade-barrier reduction agreements

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13
Q

North America Free Trade Agreement (NAFTA)

A

An agreement among Canada, the United States, and Mexico that created the world’s largest free trade zone at the time

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14
Q

Canadian-European Union Comprehensive Economic and Trade Agreement (CETA)

A

A progressive free trade agreement, which covers almost all sectors, and aspects of Canada-EU trade in order to eliminate or reduce barriers

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15
Q

European Union (EU)

A

A free trade zone encompassing 28 European counties

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16
Q

World Bank

A

An international bank that offers low-interest loans, advice, and information to developing nations

17
Q

International Monetary Fund (IMF)

A

An international organization that acts as a lender of last resort, providing loans to troubled nations, and also works to promote trade throughout financial cooperation

18
Q

Group of Twenty (G20)

A

A forum for international economic development that promotes discussion between industrial and emerging-market countries on key issues related to global economic stability

19
Q

High-net-worth individuals (HNWI)

A

Individuals who have $1 million in liquid financial assets

20
Q

Exporting

A

Selling domestically produced products to buyers in another country

21
Q

Buyer For Export

A

An intermediary in the global market that assumes all ownership risks and sells globally for its own account

22
Q

Export Broker

A

An intermediary who plays the traditional broker’s role by bringing buyer and seller together

23
Q

Export Agents

A

Intermediaries who act like manufacturers’ agents for exporters; the export agents live in a foreign market

24
Q

Licensing

A

The legal process whereby a licensor agrees to let another firm use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge

25
Q

Contract Manufacturing

A

Private-label manufacturing by a foreign company

26
Q

Joint Ventures

A

A domestic firm’s purchase of a part of foreign company or domestic firm joining with a foreign company to create a new entity

27
Q

Direct Foreign Investment

A

Active ownership of a foreign company or of overseas manufacturing or marketing facilities

28
Q

Floating Exchange Rates

A

Prices of different currencies move up and down based on the demand for and the supply of each currency

29
Q

Dumping

A

The sale of an exported product at a price lower than that charged from the same or a like product in the home market of the exporter

30
Q

Countertrade

A

A form of trade in which all or part of the payment for goods or services is in the form of other goods and services

Marketing 101 (4 decks)

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