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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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Domestic Environment Uncontrollables

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Factors in a company's home country over which the company has little or no control or influence. They include political and legal forces, the economic climate, level of technology, competitive forces, and economic forces.

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Foreign Environment 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. They 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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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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Global Awareness

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A frame of reference, important to the success of a business person, that embodies tolerance of cultural differences and knowledge of cultures, history, world market potential, and global economic, social, and political trends.

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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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GATT

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General Agreement on Tariffs and Trade; a trade agreement signed by the United States and 22 other countries shortly after World War II. The original agreement provided a process to reduce tariffs and created an agency to patrol world trade; the treaty and subsequent meetings have produced agreements significantly reducing tariffs.

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Balance of Payments

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The system of accounts that records between its residents and those of the rest of the world during a given period of time. usually one year.

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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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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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Nontariff Barriers

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Restrictions, other than tariffs, placed by countries on imported products; they may include quality standards, sanitary and health standards, quotas, embargoes, boycotts, and anti-dumping penalties.

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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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Voluntary Export Restraints (VERs)

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Agreements, similar to quotas, between an importing country and an exporting country for a restriction on the volume of exports.

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World Trade Organization (WTO)

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The organization formed in 1994 that encompasses the GATT structure and extends it to new areas that had not been adequately covered previously. This organization adjudicates trade disputes and all member countries have equal representation.

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Protectionism

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Nations utilize legal barriers, exchange barriers,and psychological barriers to restrain the entry of unwanted good. Businesses work together to establish private market barriers, while the market structure itself will provide formidable barriers to imported goods.

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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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Opium Wars

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Two wars fought between China and Britain over the British run opium trade in China during the middle 1800s.

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Taiping Rebellion

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The most costly civil war in human history in China during 1851-1964. Some estimates have the death toll at between 20-40 million.

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Confucian Philosophy

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The 2,500-year-old teachings of Chinese philosopher, Confucius, still strongly influence cultures in East Asia today. Primary among his teachings were a deep respect for elders, rulers, and husbands. Reflects the importance of cooperation.

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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 U.S. policy during much of the 19th and 20th centuries as the nation expanded its territory.

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Monroe Doctrine

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A cornerstone of U.S. foreign policy as enunciated by President James Monroe, it proclaimed three basic dicta: no further European colonization in the New World, abstention of the United States from European political affairs, and nonintervention of European governments in the governments of the Western Hemisphere.

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Roosevelt Corollary

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An extension of U.S. 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 meet their international obligations.

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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. Confiscation of foreign investments.

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Greenhouse Gas Emissions

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These are gases resulting primarily from the use of fossil fuels that tend to trap heat in the earth's atmosphere and are causal factors in global climate change. The main problem compounds are carbon dioxide, methane, nitrous oxide, and fluorinated gases.

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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 process of economic growth.

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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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Social Institutions

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The methods and 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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Cultural Values

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The system of beliefs and customs held by a population in a given culture.

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Rituals

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Patterns of behavior and interaction that are learned and repeated. The most obvious ones are associated with major events in life.

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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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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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Cultural Sensitivity

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An awareness of the nuances of culture so that a culture can be viewed objectively, evaluated, and appreciated; an important part of foreign marketing.

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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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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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Planned Change

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A 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 accommodated.

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Cultural Elective

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A business custom (as in a foreign country) to which adaptation is helpful but not necessary.

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Cultural Exclusive

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A business custom (as in a foreign country) in which an outsider must not participate.

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Silent Languages

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The non-spoken and symbolic meanings of time, space, things, friendships, and agreements, and how they vary across cultures.

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Monochronic Time (M-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. - Most low-context cultures operate on

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Polychronic Time (P-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. •Dominant in high-context cultures

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Bribery

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The use of funds, usually illegally, to influence decisions made by public employees and government officials.

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Lubrication

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The use of funds to expedite actions of public employees and government officials. The payments made to minor officials may or may not be illegal and are usually of inconsequential amounts.

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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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NO direct Foreign Marketing

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A company does not send its products overseas directly, but its products may become available in other countries through intermediaries or middlemen such as trading companies

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Infrequent Foreign Marketing

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Temporary surpluses in inventory may cause companies to sell their excess product in overseas markets

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Regular Foreign Marketing

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A firm has committed permanent resources towards international marketing and engages in it regularly on a proactive basis. The firm may use intermediaries to engage in international marketing

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Sovereignty

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refers to both the powers exercised by a state in relation to other countries and the supreme powers exercised over its own members. A state sets requirements for citizenship ,defines geographical boundaries and controls trade and the movement of people and goods across its borders.

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Nationalism

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A strong feeling of pride in and devotion to one's country. "buy our country's products", restrictions on imports, restrictive tariffs and other barriers of trade.

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Confiscation

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forced transfer of assets from a company to the government without compensation.

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Expropriation

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Where the government seizes an investment but makes some reimbursement for the assets.

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Domestication

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occurs when host countries gradually cause the transfer of foreign investments to National control and ownership through a series of government decrees that mandate local ownership and Greater National involvement in a company's management.

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Political and Social Activists (PSAs)

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can range from those who seek to bring about peaceful change to those who resort to violence and terrorism to affect change.

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nongovernmental organizations (NGOs)

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many are involved in peaceful protest lobbying and even collaborations with governmental organizations. many are also involved in mitigating much of the human misery plaguing parts of the planet. ex: the red Cross, unicef

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Balance of Payments

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A nation's ____ statement presents an overall view of its International economic position and is an important economic measure used by treasuries central banks and other government agencies whose responsibility is to maintain external and internal economic stability.

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capital and reserves accounts

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Current account is made up of ___ account and ___ account

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Reserves account

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a record of exports and imports of gold increases or decreases in foreign exchange and increases or decreases in liabilities of foreign central banks.

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Capital Account

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a record of direct Investment Portfolio investment and short-term capital movements to and from countries.

International Marketing 190 Ch.1-6 (CSUS) – Flashcards

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