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International Marketing > Midterm > Flashcards

Midterm Flashcards

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

A

GATT

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

A

true

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
Q

Free trade area only applies

A

to countries that ARE part of the free trade area

26
Q

Free trade area allows for goods

A

to come in into a low tariff country then be distributed in the FTA with no tariffs

27
Q

Free trade area

A

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
Q

NAFTA

A

US, Canada, Mexico

29
Q

EFTA

A

European Free Trade Association

30
Q

MERCOSUR

A

¥ common market of the South – Argentina, Brazil, Paraguay, Unguay

31
Q

ASEAN

A

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
Q

Trade areas

A

NAFTA, EFTA MERCOSUR, ASEAN

33
Q

Trade barriers include

A

customs (bureaucracy and local cultural practices)

34
Q

Most signficiant trade barrier

A

is tarriffs

35
Q

TRIPS stands for

A

Trade related Aspects of Intellectual Property Right

36
Q

TRIPS is meant to

A

give all the countries the same right to intellectual property protection as a country would for its own nationals

37
Q

TRIPS is not a

A

international patent system

38
Q

Hot issues (under TRIPS) is

A

licensing for pharmaceuticals if a country has no manufacturing capability

39
Q

A big portion of IP is on in the form of

A

electronic, which makes it easy to copy and re-create which discourages creation and decreased value

40
Q

Avoiding copying of IP

A

¥ encryption, digital signatures, hardware, software

41
Q

Need a system that

A

¥ reward and protect creation but that the system also allows a market for content. solution - subscriptions or memberships.

International Marketing (1 decks)

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