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MRKG 1311
Exam 2 Ch. 7
31
Marketing
Undergraduate 3
05/06/2007

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Cards

Term
Exporting
Definition
marketing domestically produced goods and services in foreign countries. 221
Term
Importing
Definition
purchasing foreign goods, services, and raw materials. 221
Term
Infrastructure
Definition
Nation;s basic system of transportation networks, communications systems, and energy facilities. 225
Term
Buyer Behavior (six areas of advising a company to enter a foreign market)
Definition
pages 227-228
Term
Exchange Rate
Definition
is the price of one nation's currency in terms of another country's currency. 228
Term
Political Risk Assesment (PRA)
Definition
units or turned to outside consulting services to evaluate the political risks of the marketplaces in which they operate. 231
Term
Friendship, Commerce and Navigation (FCN) treaties
Definition
231
Term
ISO (Internationsl Organization for Standardization) certification
Definition
internationally recognized standards that ensure a company's goods, services, and operations meet established quality levels. 231
Term
Tariff
Definition
tax levied against imported goods. 233
Term
Revenue Tariffs
Definition
are designed to raise funds for the importing government. 233
Term
Protective Tariffs
Definition
which are usually higher than revenu tariifs,a re designed to raise the retail price of an imported product to match or exceed that of a similiar domestic product. 233
Term
Import Quotas
Definition
trade restrictiona that limit the number of units of certain goods that can enter a country for resale. 234
Term
Embargo
Definition
a complete ban on the import of a product. 234
Term
Exchange Control
Definition
means that firms that gain foreign exchange by exporting must sell foreign currencies to the central bank or otherv foreign agency and importers must buy foreign currencies from the same organization 234
Term
Dumping
Definition
the practice of selling a product in a foreign market at a price lower than what it commands int he producer's domestic market. 234
Term
Free Trade
Definition
Region in which participating nations agree to the free trade of goods among themsleves, abolishing tariffs and trade restrictions. 235
Term
General Agreement on Tariffs and Trade (GATT)
Definition
international trade accord that has helped reduce world tariffs. 236
Term
World Trade Organization (WTO)
Definition
Organization that replaces GATT, overseeing GATT agreements, making binding decisions in mediating disputes, and reducing trade barriers. 236
Term
North American Free Trade Agreement (NAFTA)
Definition
Accord removing trade barriers among Canada, Mexico and U.S. 237
Term
Free Trade Area of the Americas (FTAA)
Definition
237
Term
European Union (EU)
Definition
237
Term
Why Marketers decide to go Global
Definition
figure 7.6, 239
Term
Sources for Analyzing Foreeign Markets
Definition
table 7.3, 239
Term
Levels of Involvement in International Marketing
Definition
table 7.7, 241
Term
Franchise
Definition
241
Term
Foreign Licensing
Definition
241
Term
subcontracting
Definition
241
Term
Multinational Corporation
Definition
242
Term
Global Marketing Strategy
Definition
243
Term
Multidomestic Marketing Strategy
Definition
243
Term
Countertrade
Definition
246
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