Chapter 9 MKT – Flashcards
Unlock all answers in this set
Unlock answersquestion
Protectionism
answer
The practice of shielding one or more industries within a country's economy from foreign competition through the use of tariffs or quotas.
question
Tariff
answer
A government tax on goods or services entering a country, primarily serving to raise prices on imports.
question
Quotas
answer
A restriction placed on the amount of a product allowed to enter or leave a country
question
World Trade Organization
answer
An institution that sets rules governing trade between its members through a panel of trade experts.
question
Global Competition
answer
Exists when firms originate, produce, and market their products and services worldwide.
question
Multinational / Multidomestic Marketing Strategy
answer
A multinational firm's strategy of offering as many different product variations, brand names, and advertising programs as countries in which it does business.
question
Global Brand
answer
A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs
question
Global Consumers
answer
Consumer groups living around the world who have similar needs or seek similar benefits from products or services
question
North American Free Trade Agreement
answer
(NAFTA)- a comprehensive trade agreement that sets the rules of trade and investment between Canada, the United States, and Mexico.
question
Forces
answer
Slide 23
question
Aspects of culture
answer
Values, Customs, Symbols, Language
question
Cross Culture Analysis
answer
The study of similarities and differences among consumers in two or more societies
question
Foreign Corrupt Practices Act (1977)
answer
A law that makes it a crime for U.S. companies to bribe an official of a foreign government or political party to obtain or retain business
question
Ethnocentricity
answer
The belief in the intrinsic superiority of the nation, culture, or group to which one belongs, often accompanied by feelings of dislike for other groups
question
Customs
answer
What is considered normal and expected about the way people do things in a specific country
question
Cultural symbols
answer
are things that represent ideas and concepts
question
Exporting
answer
to a global market-entry strategy in which a company produces goods in one country and sells them in another country.
question
Exporting
answer
The prominent global market-entry strategy among small-medium sized companies is exporting.
question
Licensing and Global Marketing
answer
Offering the right to a trademark, patent, trade secret, or similarly valued items of intellectual property in return for a royalty or fee is referred to as licensing.
question
Direct Investment
answer
in international marketing refers to a global market-entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or division.
question
Economic Infrastructure
answer
refers to a country's communication, transportation, financial, and distribution systems
question
Joint Venture
answer
-firm partners with a firm in the foreign country -The firms collaborate in terms of manufacturing, distributing, and retailing in the foreign country. -The foreign firm may set up some level of operations in the market, and they may be involved in training and managing
question
Global Marketing Strategy
answer
The practice of standardizing marketing activities when there are cultural similarities and adapting then when cultures differ.
