Term
|
Definition
| Marketing that targets markets throughout the world. |
|
|
Term
| Having a Global Vision means: |
|
Definition
Recognize and react to international marketing opportunities.
Be aware of threats from foreign competitors.
Use International distribution networks.
Using effective global marketing strategies. |
|
|
Term
| What are the fears of trade and globalization? |
|
Definition
Millions of American's have lost jobs.
Millions fear losing job
Workers face pay cut demands if outsourcing is not accepted.
Vulnerability to operations moving off shore.
|
|
|
Term
| What are the benefits of Globalization? |
|
Definition
Expands economic freedom
Spurs competition
Raises productivity and living standards.
Offers access to foreign capital, global export markets, and advanced technology.
Acts as a check on govt. power.
Promotes higher labor and environmental standards.
|
|
|
Term
| What is the impact of terrorism on global trade? |
|
Definition
Immediate shrinkage of global trade
Globalization is slower and costlier.
Paying more to provide security.
Stocking of more inventory.
Tighter immigration policies.
Greater concern with political risk. |
|
|
Term
| Define Multinational Corporation. |
|
Definition
| A company that is heavily involved in international trade, beyond exporting and importing. |
|
|
Term
| What are the stages of Global Development? |
|
Definition
1. Companies operate in one country and sell into others.
2. Set up Foreign subsidiaries to handle sales.
3. Operate an entire line of business in another country.
4. Virtual Operations. |
|
|
Term
| Define Global Marketing Standardization. |
|
Definition
| Production of uniform products that can be sold the same way all over the world. |
|
|
Term
| What are the external environment factors? |
|
Definition
Culture
Economic and Technological Development
Political Structure
Demographic Makeup
Natural Resources
|
|
|
Term
|
Definition
| The common set of value shared by its citizens that determine what is socially acceptable. |
|
|
Term
| Which legal consideraations can encourage or limit trade? |
|
Definition
Tariff - tax levied on goods entering a country
Quota - Limit on the amount of a product entering a country
Boycott - Exclusion of products from a country |
|
|
Term
| What is the Uraguay Round? |
|
Definition
1.The Uruguay Round, adopted in 1994 and signed by 148 nations, is an agreement to lower trade barriers worldwide. The agreement has reduced tariffs by one-third worldwide and should raise global income by $235 billion annually. The agreement covers services, intellectual property rights, and trade-related investment measures such as exchange controls.
2. Created the World Trade Organization |
|
|
Term
| What are the marketing considerations of Demographic makeup? |
|
Definition
Population density
Urban or rural
Personal income
Age |
|
|
Term
| Differences in Natural Resources creates: |
|
Definition
International dependencies
Shifts of wealth
Inflation and recession
Export opportunities if resources are abundant
Stimulus for military intervention
|
|
|
Term
| What are natural resources? |
|
Definition
Petroleum
Foodstuffs
Precious metal
Timber and logs |
|
|
Term
|
Definition
Earn additional profits
Leverage a unique product or technological advantage
Possess exclusive market information
Saturated domestic markets
Excess capacity
Utilies economies of scale |
|
|
Term
|
Definition
| The price of one currency in terms of another country's currency. |
|
|
Term
|
Definition
| A form of trade in which all or a part of the payment for goods or services is in the form of other goods and services. |
|
|
