Midterm Flashcards

(41 cards)

1
Q

Name an international brand and how it is different? Why?

A

McDonalds- China VS US. International brands may have different associations abroad the home market

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2
Q

International sourcing can lead to

A

surprising supply chains like manufacturing of cars or designing apple IPhones

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3
Q

Apple iPhones

A

Designed in CA but made in China. *Watch the video

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4
Q

Starbucks

A

*Watch Video

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5
Q

Can all international brands be successful everywhere

A

No because some have a strong international appeal and some are meant to be local

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6
Q

What is a company that has a strong international appeal?

A

Nike

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7
Q

4Ps

A

Product Place Price and Promotion

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8
Q

How do the 4P’s relate to international marketing?

A

need to understand/consider the competition/consumer needs on a global and local level

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9
Q

Our economy is

A

connected globally. Any company, product, brand exists in most of the world

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10
Q

Sourcing and supply chains encompass the globe because

A

companies look to become and stay competitive

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11
Q

The connected world economy allows for

A

¥ Consumers have a larger set of options to choose from in addition to their local markets

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12
Q

How to classify countries

A

GNI, Development level, poverty level

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13
Q

GNI stands for

A

Gross national income

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14
Q

GNI Stages

A

High income countries, Upper-middle income, Lower-middle income, Low income

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15
Q

Development level

A

Developed countries, Industrializing or developing, Least developed countries, Underdeveloped (low income, civil strife, flat income, tend to be dangerous)

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16
Q

WTO Stands for

A

World Trade Organization

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17
Q

WTO replaced

18
Q

GATT stands for

A

General agreements on Tariffs and Trade

19
Q

GATT was

A

Any reduction in tariffs would have to be extended to all countries inside GATT but they didn’t take into account other non-trade barriers like quotas, custom procedures and bureaucracy

20
Q

WTO is meant to focus on

A

free overall trade

21
Q

WTO has many critics on both sides. True or false

22
Q

One side of WTO

A

Small countries that are developing have little negotiation power, farm subsidies, non-dumping agreements can be favorable to some countries while others are pressured to open up markets protectionism (Like US steel industry tariffs)
Can also arbitrate conflicts – long term success is an ongoing problem

23
Q

PTA

A

(preferential trade agreements can exits and countries notify WTO)

24
Q

Free trade area and integration

A

High level of integration (more so than a loosely formed regional cooperation) with a goal to reduce customs duties and non-tariff barriers

25
Free trade area only applies
to countries that ARE part of the free trade area
26
Free trade area allows for goods
to come in into a low tariff country then be distributed in the FTA with no tariffs
27
Free trade area
Usually also have laws on Local Content Laws which means that a portion of the product has to be created in the FTA for the product to NOT be subject to tariffs
28
NAFTA
US, Canada, Mexico
29
EFTA
European Free Trade Association
30
MERCOSUR
¥ common market of the South – Argentina, Brazil, Paraguay, Unguay
31
ASEAN
Indonesia, Malaysia, Philippines, Singapore and Thailand, then later Brunei, Viet Nam, Lao PDR and Myanmar, and Cambodia. Informally added: Japan, China and Korea. Informally also Australia, New Zealand, India – ASEAN plus six
32
Trade areas
NAFTA, EFTA MERCOSUR, ASEAN
33
Trade barriers include
customs (bureaucracy and local cultural practices)
34
Most signficiant trade barrier
is tarriffs
35
TRIPS stands for
Trade related Aspects of Intellectual Property Right
36
TRIPS is meant to
give all the countries the same right to intellectual property protection as a country would for its own nationals
37
TRIPS is not a
international patent system
38
Hot issues (under TRIPS) is
licensing for pharmaceuticals if a country has no manufacturing capability
39
A big portion of IP is on in the form of
electronic, which makes it easy to copy and re-create which discourages creation and decreased value
40
Avoiding copying of IP
¥ encryption, digital signatures, hardware, software
41
Need a system that
¥ reward and protect creation but that the system also allows a market for content. solution - subscriptions or memberships.