International Marketing Definitions

Front 1

The increased goods, services, labor, technology and capital throughout the world.

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Globalization

Front 2

Believe globalization is a natural and inescapable process that will be with us for a long time and that we should embrace for our society's well-being

Back 2

Pro-Globalists

Front 3

Believe globalization only serves the interests of the powerful and wealthy and that it must be stopped.

Back 3

Anti-Globalists

Front 4

Believe globalization is nothing more than an overblown aspect of our economic, political and cultural reality

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Skeptics

Front 5

Seek a deeper understanding of the causes and consequences of globalization in order to eliminate its negative aspects

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Transformationalists

Front 6

An organizational function and set of processes for creating, communicatinga nd delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders, in more than one country.

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International Marketing

Front 7

An unconscious reference to one's own cultural values, experiences and knowledge as a basis for decisions

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Self Reliance Criterion (SRC)

Front 8

The notion that one's own culture or company knows best how to do things

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Ethnocentrism

Front 9

Understanding such differences and accepting and working with others whose behaviours may be different from yours

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Tolerance of Different Cultures

Front 10

Home country marketing practices will succeed elsewhere without adaption - International marketing is viewed as secondary to domestic operations

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Ethnocentric/Domestic Marketing Extension Concept

Front 11

Management of these multinational firms place importance on international operations as a source for profits - Management believes each country is unique and allows each to develop own marketing strategies locally

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Polycentric/Multi-domestic Marketing Concept

Front 12

Company operates in many countries and uses standardized strategies throughout, a region or the world at large

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Regional/Global Market Orientation

Front 13

Launched by US to assist in rebuilding Europe and Japan after WWII

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Marshall Plan

Front 14

A forum for member countries to negotiate a reduction of tariffs and other barriers to trade

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General Agreement on TAriffs and Trade (GATT)

Front 15

An institution that issues binding decisions and provides a comprehensive forum to address trade issues

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World Trade Organization (WTO)

Front 16

Assits nations in becoming and remaining economically viable

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International Monetary Fund (IMF)

Front 17

Represents on average basis of value derived from the value of a group of major currencies

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Special Drawing Rights (SDR)

Front 18

Goal to reduce poverty and improve living standards by promoting sustainable growth and investment in people

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World Bank

Front 19

When one country becomes increasingly dependent on the economies that receive its imports and supply its manufactured goods.

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Staples Trap

Front 20

The combine oral and ethical structure of a nation derived from the values, goals and aspirations of its citizens that, taken as a whole, distinguishes it from other nations

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National Character

Front 21

What a country owns in terms of resources and labor

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Comparative Advantage

Front 22

Responsible for all international issues, including trade and investment

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Foreign Affairs and International Trade Canada (DFAIT)

Front 23

Works with DFAIT to promote internalization

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INdustry Canada (IC)

Front 24

A crown corporation that provides export financing, insurance and advice to Canadian exporters of all sizes

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Export Development Canada (EDC)

Front 25

Administers CAnada's aid programs to more than 80 countries some of these programs result in Canada-financed purchases of goods or services

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Canadian International Development Agency (CIDA)

Front 26

Regional offices across Canada that combine the expertise of DFAIT, IC and other departments

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International Trade Centres (ITCs)

Front 27

Maintained by IC, provides a number of computerized databanks that give exporters info, help them match with foreign buyers

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Strategis

Front 28

Provide financial and other assistance for researching foreign markets, establishing international contacts and similar tasks

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New Exporters to Border States (NEBS)

Front 29

A network of more than 20 federal departments and agencies working with provinces, territories and other partners to provide services to exporters, with a view to enhancing export capability and preparedness in international market development

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Team Canada

Front 30

The sum total of knowledge, beliefs, art, morals, laws, customs and any other capabilities and habits acquired by humans as members of society

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Culture

Front 31

Learning culture by growing up

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Socialization

Front 32

Adjusting to a new culture by moving into it

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Acculturation

Front 33

A mental acceptance and conviction in the truth, actuality or validity of something

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Belief

Front 34

A mental predisposition to view a particular person, object or idea in either positive or negative terms

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Attitude

Front 35

An enduring belief that a specific mode of conduct or end-state of existence is personally or socially preferable to an opposite or converse mode of conduct or end state of existence

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Value

Front 36

Focuses on self-orientation

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Individualism/Collective Index

Front 37

Focuses on authority orientation

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Power Distance Index

Front 38

Focuses on risk orientation

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Uncertainty Avoidance Index

Front 39

Focuses on assertiveness and achievement

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Masculinity/Femininity Index

Front 40

Focuses on people's views of and attitudes toward short-term versus long-term time frames

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Long-term orientation

Front 41

Language measurement tool-difference from English

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Linguistic Difference

Front 42

Different meanings of color, tastes, etc.

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Factual Knowledge

Front 43

Understanding the nuances of different cultural traits and patterns- time, life

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Interpretive Knowledge

Front 44

Learning from others' cultural ways in the quest for better solutions to a society's particular problems

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Cultural Borrowing

Front 45

Customs that must be recognized and accommodated

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Cultural Imperatives

Front 46

Customs that one may wish to participate in but that are not required

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Cultural Electives

Front 47

Those customs or behaviours reserved exclusively for the locals and from which the foreigner is excluded

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Cultural Exclusives

Front 48

Communication depends heavily on the context or nonverbal aspects of communication

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High-context Culture

Front 49

Depends more on explicit, verbally expressed communications

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Low-Context Culture

Front 50

Concentrate on one thing at a time

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Monochronic Time

Front 51

Characterized by the simultaneous occurrence of many things and by a great involvement with people

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Polychronic Time

Front 52

Countries produce products for which they have a cost or resource advantage

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Absolute Advantage

Front 53

Focuses on opportunity cost

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Comparative Advantage

Front 54

Comparative advantage equals abundant resources for products

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Factor Endowments

Front 55

Trade flows from one country for products of another economically similar country

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Country Similarity Theory

Front 56

There are 3 stages: new product; maturing product/ standardized product

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Product Life Cycle Theory

Front 57

Factor Conditions; demand conditions; supporting industries; firm strategy

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Competitive Advantage

Front 58

REcords a nations international financial transactions between its residents and those of the rest of the world

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BAlance of Payments

Front 59

Record of all merchandise exports, imports and services plus the unilateral transfer of funds

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Current Account

Front 60

Record of direct investment, portfolio investment and short-term capital movements to and from companies

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Capital Account

Front 61

Record of exports and imports of gold, increases or decreasing foreign exchange or liabilities of foreign banks

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Official Reserves Account

Front 62

Tax impose by a government on goods entering at its borders

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Tariff

Front 63

Specific unit or dollar limit applied to a particular type of good

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Quota

Front 64

An agreement between the importing and exporting countries for a restriction on the volume of exports

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Voluntary Export Restraints (VERs)

Front 65

An absolute restriction of purchase of certain goods from other countries

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Boycott

Front 66

Refusal to sell to a specific country

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Embargo

Front 67

Those type of capital goods that serve a country's residents and the activities of its industries

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Infrastructure

Front 68

The systematic gathering, recording and analyzing of data to provide information useful for marketing and decision making processes

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Marketing Research

Front 69

General data on growth of the economy, inflation and business cycle trends

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Economic Factors

Front 70

General non-economic review of conditions affecting the division's business

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Cultural, Sociological and Political Climate

Front 71

Main classification system

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Values and Lifestyles System (VALS)

Front 72

A large number of respondents are asked to reply either verbally or in writing to structured questions using a specific response format or to select a response from a set of choices

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Quantitative Research

Front 73

Seeks to interpret what the people in the sample are like - their outlooks, their feelings, the dynamic interplay of their feelings and ideas, their attitudes and opinions and their resulting actions

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Qualitative Research

Front 74

The questionnaire is translated from one language to another, then a second party translates it back into the original

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Back Translation

Front 75

More than 2 translators are used for the back translation; the results are compared, differences discussed and the most appropriate translation selected

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Parallel Translation

Front 76

Many companies are installing registration procedures that allow them to track visits and purchases over time, creating a "virtual panel"

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Customer Identification Systems

Front 77

Customers can be asked to sign up on email lists to receive future direct marketing efforts via the Internet

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Email marketing lists

Front 78

Searching for information about products and services, comparison shopping among alternatives, interacting with service providers and maintaining the customer brand relationship

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Embedded Research

Front 79

the powers exercised by a state in relation to other countries and the supreme powers exercised over its own members

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Sovereignty

Front 80

Rule by one

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Monarchy/Dictatorship

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Rule by few

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Aristocracy/Oligarchy

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Rule by the many

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Democracy

Front 83

Seizing a company's assets without payment

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Confiscation

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Requires some reimbursement for the government seized investment

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Expropriation

Front 85

Host countries take steps to transfer foreign investments to national control and ownership

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Domestication

Front 86

Provides detailed and consistent country risk rating covering a broad repertoire of risk factors

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International Country Risk Guide (ICRG)

Front 87

minimizes anti-foregin feelings

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Joint ventures

Front 88

Eliminates almost all risks except non-payment of licensing fee

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Licensing

Front 89

Insures Canadian companies from certain foreign risks, including an inability to convert country currency into hard currency, and the risk of political or personal violence

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Export Development Canada (EDC)

Front 90

Interpretation through past decisions of a higher court

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Common Law

Front 91

An all inclusive system of written rules, codes, of law

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Civil Law

Front 92

Emphasis on the ethical, moral, social and religious dimensions to achieve social justice

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Islamic Law

Front 93

Developing a commercial legal system that permits them to engage in active international commerce

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Marxist-Socialist Tenets

Front 94

a non-binding agreement to resolve disputes by asking a 3rd party to mediate differences

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Conciliation/Mediation

Front 95

Involves selecting a disinterested and informed party as a referee to determine the merits of the case and make a judgement the disputants agree to honor

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Arbitration

Front 96

Take to a judge in court

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Litigation

Front 97

The attempt by a country to enforce its laws beyond its own borders

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Extraterritoriality

Front 98

Governments agree to participate jointly to develop basic industries beneficial to each economy

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Regional Cooperation Groups

Front 99

Agreement among 2 or more countries to reduce or eliminate customs duties and nontariff trade barriers among partner countries

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Free-trade area

Front 100

a logical stage of cooperation in the transistion from and FTA to a common market

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Customs Union

Front 101

Eliminates all tariffs and other restrictions on internal trade

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Common Market

Front 102

Involves complete political and economic integration

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Political Untion

Front 103

A voluntary organization providing for the loosest possible relationship that can be classified as economic integration

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Commonwealth

Front 104

Foreigner making direct investment in another country

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Foreign Direct Investment (FDI)

Front 105

A loose economic and political alliance with open borders but no central government

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Commonwealth of Independent States (CIS)

Front 106

Provides only for the elimination of trade and investment barriers between the 3 countries and does not involve provisions for economic political or even customs union

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North American Free Trade Agreement (NAFTA)

Front 107

Countries that have shown rapid industrialization of targeted industries and have per capita incomes that exceed other developing markets

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Newly Industrialized Countries (NICs)

Front 108

Countries have managed to dramatically improve their living standards by deregulating their domestic economies and opening up to global markets - South Korea, Hong Kong, Singapore, Taiwan

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The 4 Tigers

Front 109

The coexistence of modern and traditional sectors within the economy

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Economic Dualism

Front 110

The companies that will benefit in the future from emergin markets in EAstern Europe, China, Latin America and elsewhere are the ones that invest when it is difficult and initially unprofitable

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First-Mover Advantage

Front 111

Small core of emerging markets that will account for more than half of growth

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Big Emerging Markets (BEMs)

Front 112

Manufacturing products at home rather than importing

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Import Substitution