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Global Marketing > Lectures 4A and 4B (extra reading needed) > Flashcards

Lectures 4A and 4B (extra reading needed) Flashcards

1
Q

what are the 3 barriers to the political/legal environment

A

The political situation in the home country
The political situation in the host country
Third external country or market - united states put sanctions for the European companies that do business in Iran.

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2
Q

What are the promotional activities which occur in a home country environment

A

Promotional activities
Information Services
Export facilitating activities
Promotion by private organizations
state trading

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3
Q

what are the 3 threats in the host country

A

ownership threats
Operating threats
Transfer threats

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4
Q

what are political actions that may affect a businesses operations in a host country

A

Import restrictions
Local Content laws
Exchange control
Market Control
Price controls
Tax controls
Labor restrictions
Governmental Change
Nationalization
Domestication

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5
Q

What are the 2 types of trade barriers

A

Tariffs
Non-tariff barriers

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6
Q

What are trade laws designed to do

A

To protect domestic producers - provide local companies a comprehensive advantage
Generate revenue for the government.

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7
Q

what are tariffs

A

ask the company to pay for a specific period for operations in another country

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8
Q

what is ad valorem

A

only applicable for international trade. according to value of the imports you imports

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9
Q

How can Tariffs be discriminatory

A

tariffs can be discriminatory based on one country but not on the other one due to relationships with other countries.

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10
Q

What are all types of non-tariff barriers

A

Quotas
Embargos
Administrative delays
Local contents requirements

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11
Q

what’s an example of an embargo

A

The united states imposed a comprehensive trade embargo on Cuba in 1960. This embargo includes restrictions on trade financial transactions and travel between the two countries.

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12
Q

what are the 3 step process of political risk analysis

A
  1. Issues of relevance to the firm -not everything will be relevant to the firm
  2. Potential political events
  3. Probable impacts and responses
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13
Q

what model which should be used in step one of political risk analysis

A

BERI model

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14
Q

what are the factors whic h will need to be considered in phase 2 of potential political events

A

Determine the relevant political events
Determine their probability of occurring
Determine the cause and effect relationship
Determine the governments ability and willingness to respond.

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15
Q

What are the factors which need to be considered for step 3 for political risk analysis

A

Determine the initial impact of probable scenarios
Determine possible responses to initial impacts
Determine initial and ultimate political risk

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16
Q

What are the relationships which need to be built when operating in a host country

A

Government
Customers
Employees
Local communities

17
Q

what are the main forms of economic integration in regional markets

A

Free Trade areas
Custom unions
Common Markets
Economic unions

18
Q

what is the Law of one price

A

the amount of products that one products that one currency buys in one country should buy the same exact amount of currency from the different country.

19
Q

What is the Big macs index

A

purchasing power implies that exchange rates are undermined by the value of goods is that currencies can be
- used to compare between two countries and determine whether the real exchange rate is equal to the official one or not

20
Q

What are the advantages of regional integration

A

creates trade
Political cooperation between governments
Greater consensus

21
Q

What are the disadvantages of regional integration

A

Trade diversification
Loss of sovereignty
Govern themselves in certain areas
Employment shifts

22
Q

what are the three characteristics of culture

A

Shared
Interrelated
Shared

23
Q

What is learned culture

A

The way he live, our parents, the community we are grew up in - learning things without intention can effect culture

24
Q

what is Interrelated culture

A

related to ethnic groups, religion, community and where people grew up

25
Q

what is shared culture

A

shared culture is when you are impacted by the other groups or member you work with - can effect organizational culture.

26
Q

what are the 3 layer of culture

A

The visible daily behavior
Values and social norms
Basic cultural assumptions

27
Q

What are examples for The visible daily behaviours

A

body language
clothing
lifestyle
drinking and eating habits

28
Q

What are examples for values and social norms

A

family values
Sex rules
Friendship patterns

29
Q

What are some examples of basic cultural assumptions

A

National Identity
Ethnic culture
Religion

30
Q

what’s high context cultures

A

Use more elements surrounding the message. High degree of complexity in communication

31
Q

what’s low context cultures

A

Rely on spoken and written languages. Low degree of complexity in communication - simple and direct in communication.

32
Q

What are the factors in Hofstede dimensions of culture

A

Individualism
Power distance
long vs short-orientation
Masculine vs feminine uncertainty avoidance
Indulgent vs restraint

33
Q

what are the elements of culture which may impact a business

A

Language
Manners and customs
Technology and material culture
Social institutions
Education
Values and attitudes
Aesthetics
Religions

34
Q

What is the role of verbal and body language

A

Language is important in information gathering and evaluation efforts
Language provides access to local society
Language capability is important to company communications
Language enables interpretation of context

35
Q

what are the examples of Non verbal communication

A

Hapties
Gestures
Proxemies
Facial expression
Paralinguistics
Body language
Appearance
Eye contact
Artifacts
If an organization doesn’t understand then they affect the brand due to negative connotations

36
Q

what are the factors to determine whether you are able to manage the cultural barrier

A

Factual vs interpretive knowledge
Cultural sensitivity
Reduction of self reference

37
Q

How is ethical decision making relevant for a firm

A

different countries sees ethics at different levels
e.g. paying extra money to the government for contracting and licensing may be seen as ethical

38
Q

what are the levels of ethical decision making

A

Most Ethical
Practical standard
Least ethical
Not ethical

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