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25 Cards in this Set
- Front
- Back
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BACK TRANSLATION
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Retranslating a word or phrase into the original language by a different interpreter to catch errors.
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BALANCE OF TRADE
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The difference between the monetary value of a nation’s exports and imports.
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CONSUMER ETHNOCENTRISM
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The tendency for people to view their own values, customs, symbols and language as superior those of other cultures.
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COUNTERTRADE
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The practice of using barter rather than money for making international sales.
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CROSS-CULTURAL ANALYSIS
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The study of similarities and differences among consumers in two or more nations or societies.
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CULTURAL SYMBOLS
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Things that represent ideas and concepts.
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CURRENCY EXCHANGE RATE
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The price of one country’s currency expressed in terms of another country’s currency.
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CUSTOMS
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The price of one country’s currency expressed in terms of another country’s currency.
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DIRECT INVESTMENT
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A domestic firm actually investing in and owning a foreign subsidiary or division.
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DUMPING
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When a firm sells a product in a foreign country below its domestic price or below its actual cost.
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EXPORTING
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Producing goods in one country and selling them in another country.
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GLOBAL BRAND
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A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs.
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GLOBAL COMPETITION
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Competition that exists when firms originate, produce, and market their products and services worldwide.
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GLOBAL CONSUMERS
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Consumer groups living in many countries or regions of the world that have similar needs or seek similar features and benefits from products or services.
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GLOBAL MARKETING STRATEGY
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The practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
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GREY MARKET
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A situation where products are sold through unauthorized channels of distribution; also called parallel importing.
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GROSS DOMESTIC PRODUCT
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The monetary value of all goods and services produced in a country during one year.
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JOINT VENTURE
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An arrangement in which a foreign company and a local firm invest together to create a local business, sharing ownership, control and profits of the new company.
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MULTIDOMESTIC MARKETING STRATEGY
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Use of as many different product variations, brand names, and advertising programs as countries in which it does business.
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PROTECTIONISM
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The practice of shielding one or more sectors of a country’s economy from foreign competition through the use of tariffs or quotas.
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QUOTA
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A restriction placed on the amount of a product allowed to enter or leave a country.
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SEMIOTICS
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The field of study that examines the correspondence between symbols and their role in the assignment of meaning for people.
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STRATEGIC ALLIANCE
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Agreements among two or more independent firms to cooperate for the purpose of achieving common goals.
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TARIFFS
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A government tax on goods or services entering a country.
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TRADE FEEDBACK EFFECT
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A country’s imports affect its exports and exports affect its imports.
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