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31 Cards in this Set
- Front
- Back
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Practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors |
Back Translation |
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The difference between the monetary value of a nation’s exports and imports |
Balance of Trade |
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The tendency to believe that it is inappropriate, indeed immoral, to purchase foreign-made products |
Consumer Ethnocentrism |
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The practice of using barter rather than money for making global sales |
Counter Trade |
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Study of similarities and differences among consumers in two or more nations or societies |
Cross-Cultural Analysis |
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Things that represent ideas and concepts in a specific culture |
Cultural Symbols |
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Price if one country’s currency expressed in terms of another country’s currency |
Currency Exchange Rate |
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What is considered normal and expected about the way people do things in a specific country a |
Customs |
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A global market-entry strategy in which a company produces products in one country and sells them in another country |
Exporting |
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Law amended by the international anti-dumping and fair competition act (1988), that makes it a crime for U.S. corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country |
Foreign Corrupt Practices Act (1977) |
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A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs |
Global Brand |
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Exists when a firm originate, produce, and market their products and services worldwide |
Global Competition |
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Consumer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products or services |
Global Consumers |
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The focus on creating economic, cultural, political, and technological interdependence among individual national institutions and economics |
Globalization |
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A strategy used by transitional firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ |
Global Marketing Strategy |
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Global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profits of the new company |
Joint Venture |
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Strategy used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business |
Multi domestic Marketing Strategy |
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The practice of shielding one or more industries within a country’s economy from a foreign competition through the use of tariffs and quotas |
Protectionism |
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A restriction placed on the amount of a product allowed to enter or leave a country |
Quota |
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Government taxes on products or services entering a country that primarily serve to raise prices on imports |
Tariffs |
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A situation in which countries try to damage each other’s trade, typically by imposition of tariff and quota restrictions |
Trade War |
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A permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issues binding decisions |
World Trade Organization (WTO) |
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Consumers should have access to public policy makers regarding complaints about products and services |
Right to be heard |
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Returning used but not defective merchandise, misreedming coupons, buying counterfeit items, pirating software |
Unethical practices of consumers |
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Government bureaucracy may bog down effort |
Problem of joint venture |
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Enhanced competition and Lower prices |
Benefits to society from effective marketing |
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Selling items for less than the cost of producing them |
Dumping |
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As the firm moves from exporting to direct investment, the amount of financial commitment risk marketing control and profit potential do what? |
Increases |
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World’s leading exporter |
China |
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What likely influenced the concept of caveat emptor |
The consumer bill of rights |
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Has resulted in more open border and uniformity of regulations, allowing French tire maker Michelin to close 180 of its European distribution centers and to now use just 20 to serve all member countries |
EU |
