MARK 4700: Test 1
49 Cards in this Set
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international marketing
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the performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit
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controllable elements
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the aspects of trade over which a company has control and influence; they include marketing decisions covering product, price, promotion, distribution, research, and advertising
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uncontrollable elements
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factors in the business environment over which the international marketer has no control or influence; may include competition, legal restraints, government controls, weather, consumer preferences and behavior, and political events
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domestic uncontrollable
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factors in a company's home country over which the company has little or no control or influence; include political and legal forces, the economic climate, level of technology, competitive forces, and economic forces
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foreign uncontrollables
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factors in the foreign market over which a business operating in its home country has little or no control or influence; include political and legal forces, economic climate, geography and infrastructure, level of technology, structure of distribution, and level of technology
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self-reference criterion (SRC)
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an unconscious reference to one's own cultural values, experience, and knowledge as a basis for a decision
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global awareness
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a frame of reference, important to the success of a businessperson, that embodies tolerance for cultural differences and knowledge of cultures, history, world market potential, and global economic, social and political trends
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General agreement on tariffs and trade (GATT)
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a trade agreement signed by the United States and 22 other countries shortly after WW2. Original agreement provided a process to reduce tariffs and created an agency to patrol world trade
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balance of payments
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the system of accounts that records a nation's international financial transactions
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balance of trade
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the difference in value over a period of time between a country's imports and exports
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current account
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the portion of a balance of payments statement that shows a record of all merchandise exports, imports, and services, plus unilateral transfers of funds
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tariff
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a fee or tax that countries impose on imported goods, often to protect a country's markets from intrusion from foreign countries
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International Monetary Fund (IMF)
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a global institution that along with the World Bank Group, was created to assist nations in becoming and remaining economically viable
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nontariff barriers
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restrictions, other than tariffs, placed by countries on imported products; may include quality standards, sanitary and health standards, quotas, embargoes, boycotts, and antidumping penalties
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voluntary export restraint (VER)
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agreements, similar to quotas, between an importing country and an exporting country for a restriction on the volume of exports; aka orderly market agreements (OMAs)
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protectionism
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the use by nations of legal barriers, exchange barriers, and psychological barriers to restrain entry of goods from other countries
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World Trade Organization (WTO)
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formed in 1994 that encompasses the GATT structure and extends it to new areas that had not been adequately covered previously. All countries have equal representation
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Manifest Destiny
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the notion that Americans were a chosen people ordained by God to create a model society; it was accepted as the basis for US policy during much of the 19th and 20th centuries as the nation expanded its territory
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Roosevelt Corollary
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an extension of the US policy applied to the Monroe Doctrine by President Theodore Roosevelt, stating that the United States would not only prohibit non-American intervention in Latin American affairs but would also police Latin America and guarantee that all Latin American nations would …
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Monroe Doctrine
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a cornerstone of US foreign policy as enunciated by President James Monroe, it proclaimed three basic dicta: no further Euro colonization in the New World, abstention of the US form Euro political affairs, and nonintervention of Euro governments in the governments of the Western Hemisphere
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sustainable development
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an approach toward economic growth that has been described as a cooperative effort among businesses, environmentalists, and others to seek growth with "wise resource management, equitable distribution of benefits, and reduction of negative efforts on people and the environment from the pr…
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culture
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the human-made part of human environment-the sum total of knowledge, beliefs, arts, morals, laws, customs, and any other capabilities and habits acquired by humans as members of society
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cultural sensitivity
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an awareness of the nuances of cultures so that a culture can be viewed objectively, evaluated, and appreciated, an important part of foreign marketing
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social institutions
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the methods of systems, including family, religion, school, the media, government, and corporations, that affect the ways in which people relate to one another, teach acceptable behavior to succeeding generations and govern themselves
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factual knowledge
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a type of knowledge or understanding of a foreign culture that encompasses different meanings of color, different tastes, and other traits of a culture that a marketer can study, anticipate, and absorb
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interpretive knowledge
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an ability to understand and to appreciate fully the nuances of different cultural traits and patterns
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strategy of cultural congruence
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a marketing strategy in which products are marketed in a way similar to the marketing of products already in the market in a manner as congruent as possible with existing cultural norms
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cultural values
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the system of beliefs and customs held by a population in a given culture
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linguistic distance
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the measure of difference between languages; an important factor in determining the amount of trade between nations
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cultural borrowing
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the phenomenon by which societies learn from other cultures' ways and borrow ideas to solve problems or improve conditions
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strategy of unplanned change
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marketing strategy in which a company introduces a product into a market without a plan to influence the way the market's culture responds to or resists the company's marketing message
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aesthetics
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philosophically, the creation and appreciation of beauty; collectively, the arts, including folklore, music, drama, and dance
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strategy of planned changed
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marketing strategy in which a company deliberately sets out to change those aspects of a foreign culture resistant to predetermined marketing goals
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cultural imperative
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a business custom (as in a foreign country) that must be recognized and accommadated
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cultural elective
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a business custom to which adaptation is helpful but not necessary
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cultural exclusive
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a business custom in which an outsider must not participate
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Foreign Corrupt Practices Act (FCPA)
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the act prohibits US businesses from paying bribes openly or using middlement as conduits for a bribe when the US official knows that the middleman's payment will be used for a bribe
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P-time (polychromatic time)
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a view of time, as held in high context cultures, in which the completion of a human transaction is more important than holding to schedules; simultaneous occurence of many things
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M-time (monochromatic time)
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describing a view of time typical of most North Americans, Swiss, Germans, and Scandinavians, as something that is linear and can be saved, wasted, spent and lost; cultures tend to concentrate on one thing at a time and value promptness
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subornation
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the giving of large sums of money-frequently not fully accounted for-designed to entice an official to commit an illegal act on behalf of the one offering the money
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principle of utilitarian ethics
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one of three principles of ethics; tests an action by asking if it optimized the common good or benefits of all constituencies
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principle of justice or fairness
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one of the three principles of ethics; tests an action by asking if the action respects the canons of justice or fairness to all parties involved
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silent language
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term used by Edward T Hal for the non-spoken and symbolic meanings of time, space, things, friendships, and agreements, and how they very across cultures
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sovereignty
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the powers exercised by a state in relation to other countries, as well as the supreme powers of a state as exercised over its own inhabitants
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nationalism
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an intense feeling of national pride and unity; an awakening of a nation's people to pride in their country. Nationalism can take on an antiforeign business bias
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expropriation
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the seizure of an investment by a government in which some reimbursement is made to the investment owner; often the seized investment becomes nationalized
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confiscation
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the seizing of a company's assets without payment. Prominent examples involving US companies occurred in Cuba and Iran
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domestication
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a process by which a host country gradually transfers foreign investments to national control and ownership through a series of government decrees mandating local ownership and greater national involvement in company management
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Political and Social Activists (PSAs)
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individuals who participate in efforts to change the practices and behaviors of corporations and governments, with tactics that can range from peaceful protest to terrorism
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MARK 4700: Test 1