GLOBAL MARKETING Flashcards

1
Q

Marketing domestically
produced goods and services in foreign
countries

A

EXPORTING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Purchasing foreign goods and
services

A

IMPORTING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

is an important economic
factor to consider when planning to enter a
foreign market

A

INFRASTRUCTURE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Price of one nation’s currency
in terms of another country’s currency

A

EXCHANGE RATE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Tax levied against imported goods

A

TARIFF

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Designed to raise funds for
the importing government

A

REVENUE TARIFFS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Designed to raise the retail
price of an imported product to match or
exceed that of a similar domestic product

A

PROTECTED TARIFFS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Limit the number of units of products in certain categories that can cross a
country’s border for resale

A

IMPORT QUOTAS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Complete ban on the import of specified products

A

EMBARGO

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Government financial support of a
private industry

A

SUBSIDIES

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Method used to regulate
international trade among importing
organizations by controlling access to foreign
currencies

A

EXCHANGE CONTROL

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Controversial practice of selling a product in a foreign market at a price lower than what it receives in the producer’s domestic
market

A

DUMPING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

which participating
nations agree to free trade among themselves, abolishing tariffs and trade
restrictions

A

FREE TRADE AREA

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

establishes a free-trade area and uniform tariffs for nonmember nations

A

CUSTOM UNION

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

extends a customs union
by seeking to reconcile all government regulations affecting trade

A

COMMON MARKET

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

(GATT)

A

General Agreement on Tariffs and Trade

17
Q

(NAFTA)

A

North American Free Trade Agreement

17
Q

(WTO)

A

World Trade Organization

18
Q

(CAFTA-DR)

A

Central American Free Trade Agreement–DR

19
Q

(EU)

A

European Union

20
Q

Strategies for Entering Foreign
Markets

Three basic choices

A
  1. Importing and exporting
  2. Contractual agreements such as franchising,
    licensing, and subcontracting
  3. International direct investment
21
Q

Contractual arrangement in which a
wholesaler or retailer agrees to meet the
operating requirements of a manufacturer
or other franchiser

A

FRANCHISING

22
Q

Agreement that grants foreign marketers
the right to distribute a firm’s merchandise
or to use its trademark, patent, or process in
a specified geographic area

A

FOREIGN LICENSING

23
Q

Contractual agreements that assign the
production of goods or services to local or
smaller firms

A

SUBCONTRACTING

24
Q

Significant
operations and marketing activities outside
its home country

A

Multinational corporation

25
Q

Standardized
marketing mix with minimal modifications
that a firm uses in all of its domestic and
foreign markets

A

Global marketing strategy

26
Q

Application of market segmentation to
foreign markets by tailoring the firm’s
marketing mix to match specific target
markets in each nation

A

Multidomestic marketing strategy

27
Q

Form of exporting whereby goods and
services are bartered rather than sold for
cash

A

Countertrade

28
Q
A