Chapter 4: Developing Global Vision Flashcards
1. The importance of global marketing 2. External environment facing global marketers 3. Identify various ways of entering the global market 4. Basic elements involved in the global marketing mix 5. How internet impacts global market
Define global marketing
Marketing the target markets through the world
Define Global vision
A recognition of and reaction to international marketing opportunities using effective global marketing and being aware of threats from foreign competitors in all markets.
Define outsourcing
the practice of using an outside supplier, generally where the productions costs are lower, to complete the work inshoring returning jobs to Canada
Define Gross National Income (GNI) per capita
one measure of the ability of a country’s citizens to buy various goods and services
Global economy
Forecasting global demand and economic growth requires an understanding of what is happening economically AROUND the globe
Define licensing
the legal process whereby a licensor agrees to let another firm use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge
Define contract manufacturing
private-label manufacturing by a foreign company
