MARK 3000: FINAL EXAM
33 Cards in this Set
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Global Markerting
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marketing that targets markets throughout the world
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Multinational firm
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moves resources and goods across national boundaries without regard to the country in which the headquarters is located
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Culture
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the common set of values shared by its citizens that determine what is socially accptable
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Born Global t
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the company start off thinking how they will go global
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Global Vision
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recognizing and reacting to international marketing opportunities using effective global marketing strategies, and being aware of threats from foreign competitors in all markets
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Job Outsourcing
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sending U.S. jobs aboard
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Multinational Corporation
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a company that is heavily engaged in international trade, beyond exporting and importing
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Capital Intensive
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using more capital than labor in the production process
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Global marketing standardization
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production of uniform products that can be sold the same way all over the world
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Mercosur
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the largest Latin American trade agreement; includes Argentina, Bolivia, Brazil, Chile Colombia, Ecuador, Paraguay, Peru, and Uruguay
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Uruguay Round
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an agreement to dramatically lower trade barriers worldwide; created the world Trade Organization
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World Trade Organization
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trade organization that replace the old General Agreement on tariffs and trade(GATT)
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Export
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Sell domestically produced products to buyer in other countries
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Licensing
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Legal process allowing use of manufacturing/patents/knowledge
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Contract Manfacturing
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Private-Label manufacturing by a foreign country
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Joint Venture
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Domestic firm buys/joins a foreign company to create new entity
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Direct Investment
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Active ownership of a foreign company/manufacturing facility
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Global Marketing Mix
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marketer must decide what changes to make to the elements of the marketing mix
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Quotas
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limits
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Tariffs
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Taxes
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Local Content Rules
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will set rules on the things that is made has to be in house
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General Agreement on Tariffs and Trade
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a trade agreement that contained loopholes enabling countries to avoid trade-barrier reduction agreement
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North American Free Trade Agreement
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an agreement between Canada, the United States, and Mexico that created the world's largest free trade zone
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Central American Free Trade Agreement
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a trade agreement, instituted in 2005, that includes Costa Rica the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and the United States
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European Union
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a free trade zone encompassing 27 European Countries
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World Bank
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international bank that offers low-interest loans, advice, and information to developing nations
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International Monetary Fund
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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
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Group of Twenty
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a forum for international economic development that promotes discussion between industrial and emerging-market countries on key issues related to global economic stability
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Buyer for Export
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an intermediary in the global market who assumes all ownership risks and sells globally for its own account
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Export Agent
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an intermediary who acts like a manufacturer's agent for the exporter the export agent lives in the foreign market
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Floating Exchange Rates
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a system in which prices of different currencies move up and down based on the demand for the supply of each currency
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Dumping
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the slae of an exported product at a price lower than that charged for the same or a bike product in "home "market of the exporter
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Counter trade
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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
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MARK 3000: EXAM 1