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Marketing > Developing A Global Vision > Flashcards

Developing A Global Vision Flashcards

0
Q

Recognizing and reacting to international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets

A

Global vision

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1
Q

Marketing that targets markets throughout the world

A

Global marketing

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2
Q

Job outsourcing

A

Sending us jobs abroad

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3
Q

A company that is heavily engaged in international trade, beyond exporting and importing

A

Multinational corporation

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4
Q

Using more capital than labor in the production process

A

Capital intensive

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5
Q

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

A

Global marketing standardization

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6
Q

The largest Latin American trade agreement; includes Argentina, Bolivia, chile, Colombia, Ecuador, Paraguay, Peru, and Uruguay

A

Mercosur

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7
Q

A tax levied on the goods entering a country

A

Tariff

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8
Q

A limit on the amount of a specific product that can enter a country

A

Quota

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9
Q

The exclusion of all products from certain countries or companies

A

Boycott

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10
Q

A law compelling a company earning foreign exchange from its exports to sell it to a control agency, usually a central bank.

A

Exchange control

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11
Q

Occurs when several countries agree to work together to form a common trade area that enhances trade opportunities

A

Market grouping
Or
Common alliance

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12
Q

An agreement to stimulate international trade

A

Trade agreement

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13
Q

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

A

Uruguay Round

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14
Q

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

A

World Trade Organization (WTO)

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15
Q

A trade agreement that contained loopholes enabling countries to avoid trade-barrier reduction agreements

A

General Agreement on Tariffs and Trade (GATT)

16
Q

an agreement between Canada, the United States, and Mexico that created the worlds largest free trade zone

A

North American Free Trade Agreement (NAFTA)

17
Q

A trade agreement, instituted in 2005, that includes Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and the United States

A

Central American Free Trade Agreement

CAFTA

18
Q

A free trade zone encompassing 27 European countries

A

European Union (EU)

19
Q

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

A

World Bank

20
Q

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

A

International Monetary Fund (IMF)

21
Q

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

A

Group of Twenty (G-20)

22
Q

Selling domestically produced products to buyers in other countries

A

Exporting

23
Q

An intermediary in the global market who assumed all ownership risks and sells globally for it own account

A

Buyer for export

24
Q

Export broker

A

An intermediary who plays the traditional brokers role by bringing buyer and seller together

25
Q

An intermediary who acts like a manufacturers agent for the exporter; they live in the foreign market

A

Export agent

26
Q

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

A

Licensing

27
Q

Private-label manufacturing by a foreign company

A

Contract manufacturing

28
Q

When a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity

A

Joint venture

29
Q

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

A

Direct foreign investment

30
Q

To succeed, firms seeking to enter into foreign trade must still adhere to the principles of

A

The marketing mix

31
Q

Either creating a new product for a market or drastically changing an existing product

A

Product invention

32
Q

To slightly alter a basic product to meet local conditions

A

Product adaptation

33
Q

Maintain the same basic product but alter the promotion strategy

A

Promotion adaptions

34
Q

A system in which prices of different currencies move up and down based on the demand for and the supply of each currency

A

Floating exchange rates

35
Q

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

A

Dumping

36
Q

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

A

Countertrade

Marketing (13 decks)

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