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37 Cards in this Set
- Front
- Back
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Global marketing |
the scope of activities outside the home market |
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Ethnocentric |
home country superior to others sees only similarities in other countries assumes products and practices that succeed at home will be successful elsewhere |
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polycentric |
each country is unique each subsidiary develops its own unique business and marketing strats often referred to as multinational |
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regiocentric |
a region is the relevant geographic unit some companies serve markets throughout the world but on a regional basis |
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geocentric |
entire world is a potential market strives for integrated global strategies retains an association with the headquarters country pursues serving world markets from a single country or sources globally to focus on select country markets |
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Market capitalism |
individuals and firms allocate resources production resources are privately owned driven by consumers governments role is to promote competition among |
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centrally planned socialism |
opposite of market capitalism state holds broad powers to serve the public interest decides what goods and services are produced and in what quantities |
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centrally planned capitalism |
economic system in which command resource allocation is used extensively in an environment of private resource ownership |
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low income countries |
GNP per capita of $1025 or less limited industrialization high birth rates low literacy rates |
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lower middle income countries |
GNI per capita 1026- 4035 rapidly expanding consumer markets cheap labor |
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upper middle income countries |
GNP per capita 4036-12475 rapidly industrializing rising wages high literacy rates |
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mistaken assumptions about LDCs |
the poor have no money the poor will not waste money on nonessential goods entering developing markets is fruitless because goods there are too cheap to make a profit |
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economic exposure |
refers to the impact of currency fluctuations on the present value of the companys financial performance |
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GATT |
General Agreement of Tariffs and Trades treaty among nations to promote trade among members established in 1947 |
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Preferential trade agreements |
many countries seek to lower barriers to trade within their regions PTAs give partners special treatment and may discriminate against others over 300 PTAs have been notified to the WTO |
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NAFTA |
North America Free Trade Agreement Canada United States Mexico |
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Common Market |
Elimination of internal barriers to trade establishes common external barriers to trade allows for free movement of factors production such as labor capital and information |
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economic union |
all of the things in common market plus coordinates and harmonizes economic and social policy within the union |
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MERCOSUR |
Argentina Brazil Paraguay Uruguay Venezuela |
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ASEAN |
Association of Southeast Asain Nations |
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Singapore |
2nd largest container port 2nd highest standard of living 93% literacy rate Crime nearly nonexistent |
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EU |
European Union objective is to harmonize national laws and regulations so that goods and services people and money could flow freely 27 countries |
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culture |
ways of living built up by a group of human beings that are transmitted from one generation to the next |
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attitude |
learned tendency to respond in a consistent way to a given object or entity |
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belief |
an organized pattern of knowledge that an individual holds to be true about the world |
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value |
enduring belief or feeling that a specific mode of conduct is personally or socially preferable to another mode of conduct |
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high & low context cultures |
high- information resides in context emphasis on background basic values societal status low- messages are explicit and specific words carry all information |
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power distance |
extent to which the less powerful members of a society accept-even expect-power to be distributed unequally |
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individualism/ collectivism |
individualist- each member of society is primarily concerned with his or her own interest and those of the immediate family collectivist cultures- all of societys members are integrated into cohesive groups |
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masculinity |
men are expected to be assertive competitive and concerned with material success and women fulfill the role of nurturer |
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uncertainty avoidance |
the extent to which the members of a society are uncomfortable with unclear ambiguoug or unstructured situations |
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long term orientation |
concerning a society's search for virtue rather than a search for truth |
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Self reference criterion |
unconscious reference to ones own cultural values creates cultural myopia |
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Diffusion theory ; the adoption process |
Awareness Interest Evaluation Trial Adoption |
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expropriation |
governmental action to dispossess a foreign company or investor |
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nationalization |
a government takes control of some or all of the enterprises in an entire industry |
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creeping expropriation |
limits economic activities of foregin firms |
