Marketing Chapter 4 : Developing A Global Vision

Front 1

Global Marketing

Back 1

Marketing that targets markets throughout the world.

Front 2

Global Vision

Back 2

Recognizing and reacting to international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets.

Front 3

Multinational Corporation

Back 3

A company that is heavily engaged in international trade, beyond exporting and importing.

Front 4

Capital-intensive

Back 4

Using more capital than labor in the production process.

Front 5

Global Marketing Standardization

Back 5

Production of uniform products that can be sold the same way all over the world.

Front 6

Mercosur

Back 6

The largest Latin American trade agreement; includes Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador. Paraguay, Peru, and Uruguay.

Front 7

Uruguay Round

Back 7

An agreement to dramatically lower trade barriers worldwide; created the World Trade Organization

Front 8

World Trade Organization

Back 8

A trade organization that replaced the old General Agreement on Tariffs and Trade (GATT)

Front 9

General Agreement of Tariffs and Trade (GATT)

Back 9

A trade agreement that contained loopholes that enabled countries to avoid trade-barrier reduction agreements.

Front 10

North American Free Trade Agreements (NAFTA)

Back 10

An agreement between USA, Canada, and Mexico that created the worlds largest free trade zone.

Front 11

European Union

Back 11

A free trade zone encompassing 27 European countries.

Front 12

World Bank

Back 12

An international bank that offers low-interest loans, advice, and information to developing nations.

Front 13

International Monetary Fund (IMF)

Back 13

An international Organization that acts as a lender of last resort, providing loans to troubled nations and also works to promote trade through financial cooperation.

Front 14

Exporting

Back 14

Selling domestically produced products to buys in another country.

Front 15

Buyer for Export

Back 15

An intermediary in the global market that assumes all ownership risks and sells globally for its own account

Front 16

Export Broker

Back 16

An intermediary who plays the traditional broker's role by bringing buyers and seller together.

Front 17

Export Agent

Back 17

An intermediary who acts like a manufacturer's agent for the exporter. The export agent lives in the foreign market.

Front 18

Licensing

Back 18

The legal process whereby a licensor agrees to let another firm use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge.

Front 19

Contract Manufacturing

Back 19

Private-label manufacturing by a foreign company.

Front 20

Joint Venture

Back 20

When a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity.

Front 21

Direct Foreign Investment

Back 21

Active Ownership of a foreign company or of overseas manufacturing or marketing facilities.

Front 22

Floating exchange rates

Back 22

Prices of different currencies move up and down based on demand for a supply of each currency.

Front 23

Dumping

Back 23

The sale of an exported product at a price lower than that charged for the same or like product in the "home" market of the exporter.

Front 24

Countertrade

Back 24

A form of trade in which all or part of the payment for goods of services is in the form of other goods or services.