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24 Cards in this Set
- Front
- Back
- 3rd side (hint)
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APEC
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formed in 1989... the Asia Pacific Economic Cooperation. It provides a formal structure for the major governments of the region, inluding the U.S. and canada to discuss mutual interests for trade and economic collaboration
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ASEAN
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the association of Southeast Asian Nations, one of the two multinational trading group that encompasses the Asian pacific Rim. A combined population of 480 million and a combined GDP of 560$ billion... cooperates with APEC.
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anti-globalization
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leads to demonstrations and boycotts of foregin customs and high profile multinational firms. Example: Hindu nationalists smashed card shops in northern India on Valentine's Day 2001 in protest against greeting cards they considered immoral.
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average GNP per capita
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the dollar value of a country's final output of goods and services in a year, divided by its population
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creolization
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a result of global earthscaping, which is a blending of local and global meanings (within global consumer institutions) An example of this is fast food restaurants... McDonalds in other countries.
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cultural imperialism
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the imposition of foreign values and practices through the power of advertising hype. Example: KFC being picketed in India b/c of concerns about health and violations of Hindu vegetation values.
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dual income distribution
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small segments of very wealthy and large segments of very poor consumers. Example: in Peru, 1% of the population accounts for nearly half of the national income
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earthscaping
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the accelerated movement of people, ideas, goods, capital, information, services, and popular culture around the world.
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Engel's law
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states that as real income goes down, so does the share devoted to luxury products
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European Community (EC)
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economic corporation groups like these have increased global competition make it important to view the global economy in the context of regions of the world.
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experience economy
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a new marketing paradigm that focuses on providing consumers with high value and highly profitable experiences.. example: RV ad that is targeted for parents of preschoolers trying to get them to relive their experiences of their childhood
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Gini index
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A way of comparing the distribution of income within countries. It measures the xtent to which the distribution of income deviates from a perfectly equal distribution... the higher the number the more unequal
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globalization
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a process in which consumers, firms, and governments are increasingly interconnected across national borders by a variety of actors and agencies. It creates social links and networks that cut across national boundaries.
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green marketing
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a proactive commitment to improve environmental performance
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gross domestic product
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a measure of the market value of all goods and services produced within the boundaries of a nation
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gross national product
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market value of goods and services produced by all that nation's business operations, including those in foreign countries
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infrastructure
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represents capital goods that support the activities of many industries. Includes paved roads, seaports, energy supplies, and so on... if ____ does not develop with an expanding population and economy then countries begin to lose economic ground
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localization
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about preserving a sense of identity, home, and community. Consumers are expressing a return to their roots and adapting global consumer goods and meanings to fit their local cultures
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nationalism
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the idea of the nation-state as the sovereign authority.. ____ developed at the same time as former colonies achieved their independence, consumption preferences often take on blended or creolized styles
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Newly Industrialized Countries (NICs)
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emerging trade powers in the southern hemisphere... these developing countires now also contain important consumer markets... they are impressive exporters, and have rapidly industrialized in targeted industries and have per capita incomes
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related to ASEAN and APEC the triad powers... includes Singapore, South Korea, Thailand, Indonesia, Taiwan, South Africa, Brazil, Nigeria, and Saudi Arabia
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North American Free Trade Agreement
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basically a trade cooperation trend between Canada, Mexico, and the U.S... the North American version of the EC
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service economy (p40)
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when the share of a nations productive output shifts from the manufacture of a tangible products to the management of the movement of services and information... it is one of the four global trends
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transitional economies (p 52)
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refers to the countries formerly dominated by centralized command economies. Examples: Albania, Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Slovak Republic, Poland, Romania.
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Triad regions (p 39)
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the regions of Europe, the Americas, and the Asian Pacific Rim that constitute a new economic order for trade and development... global companies located in these regions have SIGNIFICANT MARKET POWER
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