Chapter 4.7 - International Marketing

Question 1

Business Etiquette

Answer 1

Refers to the mannerism and customs (traditions) by which business is conducted in different countries

Question 2

Cultural Exports

Answer 2

Are the commercial transfer of ideas and values from one country to another, e.g. US fast-food, Hollywood movies and drive-through outlets

Question 3

Direct Investment

Answer 3

Refers to a business eating up production and/or distribution facilities in overseas markets

Question 4

Exporting

Answer 4

Is the practice of selling domestically produced goods and/or services to overseas buyers in order to gain access to larger international markets

Question 5

Global Marketing

Answer 5

Is the marketing of a product by using the same marketing strategy in numerous countries to gain from marketing economies of scale

Question 6

Globalization

Answer 6

Is the integration and interdependent of the world’s economies, resulting in cultures and tastes converging at an accelerating pace

Question 7

International Marketing

Answer 7

Is the marketing of a firm’s products in foreign countries

Question 8

Licensing

Answer 8

Occurs when a third-party firm (lisensee) buys the right to product the goods of another business (the licensor)