Mkt 350 International Marketing Exam 1

Front 1

Collecting data and using various quantitative and qualitative techniques of marketing research to investigate an issue.

Back 1

Analysis

Front 2

The structures created by human activities; most evident in cities.

Back 2

Built Environment

Front 3

A natural feature that has profound impact on economic activity within a place.

Back 3

Climate

Front 4

Tools to monitor environmental forces, competitors, channel participants, and customer receptiveness; includes short-term control tools and long-term control tools, such as auditing.

Back 4

Control Mechanisms

Front 5

Transfer of capital across national boundaries.

Back 5

Currency Flows

Front 6

Price of a currency expressed in units of another currency, e.g., yen per euro.

Back 6

Exchange Rates

Front 7

The characteristics of a place relating to its natural attributes.

Back 7

Geological Characteristics

Front 8

The worldwide network of trade connections that binds together countries, institutions, and individuals.

Back 8

Global Linkages

Front 9

Rivers, lakes, and other bodies of water influence the kinds of economic activities that occur in a place.

Back 9

Hydrology

Front 10

The actual carrying out of the planned marketing activity.

Back 10

Implementation

Front 11

The process of planning and conducting transactions across national borders to create exchanges that satisfy the objectives of individuals and organizations.

Back 11

International Marketing

Front 12

An international compact signed in 1997 that calls for reductions in the emissions of carbon dioxide and five other greenhouse gases.

Back 12

Kyoto Protocol

Front 13

“An organization function and a set of processes for creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stake-holders” (American Marketing Association).

Back 13

Marketing

Front 14

Distribution policy covers the place variable of the marketing mix and has two components: channel management and logistics management.

Back 14

Place

Front 15

The blueprint generated to react to and exploit the opportunities in the marketplace, involving both long-term strategies and short-term tactics.

Back 15

Planning

Front 16

The human element of the environment.

Back 16

Population

Front 17

The revenue-generating element of the marketing mix.

Back 17

Price

Front 18

Covers all the elements that make up the good, service, or idea that is offered by the marketer, including tangible (product) and intangible (service) characteristics.

Back 18

Product Policy

Front 19

Communications policy uses promotion tools such as advertising, sales promotion, personal selling, and publicity to interact with customers, middlemen, and the public.

Back 19

Promotion Tools

Front 20

Variations in the soils found in different geographic regions (and their interactions with climate) have a profound impact on agricultural production.

Back 20

Soils

Front 21

The geology of a place expressed in terms of its regional characteristics; terrain plays a role in population, resources, travel, and trade.

Back 21

Terrain

Front 22

Original Inhabitants of the continent were Aboriginies; First settlers were convicts and soldiers

Back 22

Australia

Front 23

Poor countries are geting richer faster than the tradionally wealthy countries. T or F?

Back 23

True

Front 24

The power of te world economy exceeds that of any nation state.T or F?

Back 24

True

Front 25

Lower wage rates will be less important in future production shifting decisions.
T or F?

Back 25

True

Front 26

Global market growth is increasing at a faster rate.T or F?

Back 26

True

Front 27

World Trade has grown from $200 Billion to more than ___ in the past 3 years

Back 27

$7 Trillion

Front 28

The Iron Curtain is gone and capitalism has replacedd the old economic doctrines. T or F?

Back 28

True

Front 29

To plan and execute programs that will ensure a long-term competitive advantage for the company. Determine the specific target markets and manage the marketing mix in order to best satisfy the needs of individual target markets.

Back 29

Strategic Marketing

Front 30

Chapter 2

Back 30

~

Front 31

Nowhere in the world is puntuality moore important than in Germany. T or F.

Back 31

True

Front 32

What two international institutions were created at the confrence in Bretton Woods, New Hamphire in 1944?

Back 32

IMF and The World Bank

Front 33

Promotes international monetary cooperation and exchange stability;
Facilitates the expansion and balanced growth in International trade;
Provides temporary financial assistance to countries to help ease balance of payments problems.

Back 33

International Monetary Fund (IMF)

Front 34

Provides exonomic assistance for the reconstruction of war-torn and, more recently, loans to developing countries.
Mission is to fight poverty for lasting results and to help people help themselves.

Back 34

World Bank

Front 35

Problems with the IMF and World Bank

Back 35

Wasted Resources (money going to corrupt people)
Washington Consensus - Too rigid / Medicine is too strong

Front 36

Taxes on Incoming Items?

Back 36

Tariffs

Money goes to the Govt.

Front 37

Max. tarrif on an import to which a member committs. This rate is legally binding under the WTO and apllies on a most favored nation basis. WTO negotiations have been conducted on the basis of bound rates.

Back 37

Bound Tariffs

Front 38

Estimate of the tariff rate paid by importers of a product.

Back 38

Applied Tariffs

A Countries applied tariff is often less than its bound tariff.

Front 39

What is the downside to tariffs?

Back 39

There is no incentive fr a U.S manufacturer to produce better quality products because they are protected.

Front 40

2 Types of Tarrif Reforms:

1) Cutting all rates by the same amount regardless of how high or low
2) Identify highest tariff in world and reduce it to next highest level. Next highest level reduced to next highest level. etc. - domino effect

Back 40

1) Radical Reform

2) Concertina Reform

Front 41

__: assigns a number to each product that is traded internationally to insure that customs officers and statiticians around the world are referring to the same thing when classifying a product. Almost all countries now us this.

Back 41

The Harmonized Tariff System (HTS)

Front 42

Set of rules focused on reducing prevailing high tariffs.
Two main components?

Back 42

GATT

NT and MFN

Front 43

___: imported and locally produced goods and services should be treated equally - at least after the foreign goods have entered the market.

Back 43

National Treatment
(NT)

Front 44

___:each member country of the GATT must grant every member country the most favorable treatment (same tariff) it accords to any other country with respect to imports and exports

Back 44

Most-Favored Nation Clause
(MFN)

Front 45

Intergovernmental associations that manage and promote trade activities for specific regions of the world. These are often called free trade agreements (FTA's), regional trade agreements (RTA's) or "unions"

Back 45

Regional Trade blocs / Institutions

Front 46

Biggest reason we have a trade deficit is that we don't have a mindset that we need to export. T orF?
Imports have exceeded US exports since 1975. T or F?

Back 46

True

True

Front 47

Trade agreements carried out mainly between two nations.

Back 47

Bilateral Negotiations

Front 48

Production condition where an increase in the quantity of the product results in a decrease of the production cost per unit.

Back 48

Economies of Scale

Front 49

U.S. firm of which foreign entities own at least 10 percent.

Back 49

Foreign Affiliate

Front 50

Capital funds that flow from abroad; company is held by noncitizens; foreign ownership is typically undertaken for longer-term participation in an economic activity.

Back 50

Foreign Direct Investment

Front 51

Barriers to trade that are more subtle than tariff barriers; for example, these barriers may be government or private-sector “buy domestic” campaigns, preferential treatment of domestic bidders over foreign bidders, or the establishment of standards that are not common to foreign goods or services.

Back 51

Nontariff Barriers

Front 52

A trade deficit occurs when a country imports more goods and services than it exports.

Back 52

Trade Deficit

Front 53

Trade agreements carried out among a number of nations.

Back 53

Multilateral Negotiations

Front 54

BIG THEME in International Trade - Moving away from a system based on __ to a ___ based system governed by GATT and the WTO

Back 54

Power

Rule-Based

Front 55

A ___ is usually named after the place where country representatives first meet to discuss how to foster inernational trade.

Back 55

A Round

Front 56

An integrated system of learned behavior patterns that are distinguishing characteristics of the members of any given society

Back 56

Culture

Front 57

Culture comes from: (6)

Back 57

Family, Friends, Social orgs, govt, church, and schools.

Front 58

These are business customs and expectations that must be met and conformed to if relationships are to be successful.

Back 58

Cultural Imperatives

In some cultures, you must establish friendship before beginning business negotiations.

Front 59

These are customs or behavior reserved exclusively for the locals and from which foreigners are excluded.

Back 59

Cultural Exclusives

Ex. Only catholics take communion in a catholic church

Front 60

These are areas of behavior or customs which foreigners may wish to conform to or participate in but that are not required. Most customs fit in this category

Back 60

Cultural Adlaphora

Ex. greeting someone with a kiss

Front 61

___: adjusting or adapting to a specific culture other than one's own.
~Important for success in inernational operations.

Back 61

Acculturation

Front 62

People viewing their own in-group as primary and possessing proper standards of behavior, and as offering protection against potential threats from those outside the in-group.
Consumers may believe that it is not appropriate, and possibly even immoral, to buy products from other countries.

Back 62

Consumer Ethnocentrism

Front 63

Language (verbal/nonberbal), Religion, Values and Attitudes, Manners and Customs, Material Elements, Aesthetics, Education, and Social Institutions are all:

Back 63

Elements of Culture.

Front 64

In total there are over __ languages spoken in mexico, and many dialects within those languages.

Back 64

60

Front 65

The translation of a foreign language version back to the original language by a person different from the one who made the first translation; an approach used to detect omissions and avoid language blunders.

Back 65

Back-Translation

Front 66

___ is a system of government based on rule by ABILITY rather than by wealth or social position.

Back 66

Meritocracy.

Front 67

Projected population growth is in low income countries - which suggests continued strong growth in food demand. T or F?

Back 67

True

Front 68

Goods used for both military and civilian purposes.

Back 68

Dual-Use Items

An export license is required.

ex. satelites that may be used for spying or fertilizers that can be used to make bombs.

Front 69

Defined as the risk of loss when investing in a given country caused by changes in a country's political structure or policies.

Back 69

Political Risk (PR)

Can be the outcome of gov't actions or outside control of gov't such as war, revolution, strikes.

Front 70

__: the act of taking assets into state ownership. Usually it refers to private assets being N.

Back 70

Nationalization

The opposite of N is Privatization

Front 71

____:returning of profit to the home country - typically a parent copany's goal.

Back 71

Repatriation of Profit (ROP)

Front 72

Waht people are most affected by tariffs that increase the price of a particular product?

Back 72

Fixed Income people

Front 73

No enforceable body of international law exists but the WTO is helping to enforce internationally accepted economic practices. T or F?

Back 73

True

Front 74

A proposed free trade zone reaching from Point Barrow, Alaska, to Patagonia; negotiations and an agreement planned for 2005.

Back 74

Free Trade Area of the Americas (FTAA)

Front 75

The loosening of restrictions on the trade of capital, labor, and technology among nations.

Back 75

Factor Mobility

Front 76

Laws prohibiting below-cost sales of products.

Back 76

antidumping laws

Front 77

A comprehensive set of written statutes; countries with code law try to spell out all possible legal rules explicitly; it is based on Roman law and found in a majority of nations.

Back 77

Code Law

Front 78

Based on tradition and depends less on written statutes and codes than on precedent and custom.

Back 78

Common Law

Front 79

Governmental actions that terminate the free flow of trade in goods, services, or ideas, imposed for adversarial and political purposes.

Back 79

Embargoes

Front 80

Exposing ongoing operations of a firm to political risk in another nation.

Back 80

Operating Risk

Front 81

Groups of nations that integrate economic and political activities.

Back 81

Economic blocs

Front 82

Legislation that permits domestic firms to work together, in a manner similar to Japanese sogoshoshas, to overcome trade barriers through cooperative efforts.

Back 82

Export Consortia

Front 83

Loans to domestic businesses designed to overcome barriers to export and composed partially of commercial interest rates and partially of highly subsidized developmental aid interest rates.

Back 83

Mixed Aid Credits

Front 84

An important bargaining tool; however, legislated protectionism can result in the destruction of the international trade and investment framework.

Back 84

protectionistic legislation

Front 85

Assures that the U.S. executive branch may reach international agreements that will not be subject to minute amendments by Congress; gives Congress the right to accept or reject trade treaties and agreements.

Back 85

trade promotion authority

Front 86

The introduction into a culture of new products or ideas or practices, which may lead to changes in consumption.

Back 86

Change Agent

Front 87

A program in which trainees must respond to scenarios of specific situations in a particular country.

Back 87

cultural assimilator

Front 88

The growing similarity of attitudes and behaviors across cultures

Back 88

Cultural Convergence

Front 89

Broad, multifaceted knowledge acquired through living in a certain culture.

Back 89

Cultural Knowledge

Front 90

Knowledge acquired only by being involved in a culture other than one’s own.

Back 90

Experiential Knowledge

Front 91

Economic, social, financial, and marketing support systems, from housing to banking systems to communications networks.

Back 91

Infastructures

Front 92

A person or group of people that significantly influences an individual’s attitude and behavior.

Back 92

Reference Groups

Front 93

The unconscious reference to one’s own cultural values in comparison to other cultures.

Back 93

Self-Reference Criterion

Front 94

The least restrictive and loosest form of economic integration among nations; goods and services are freely traded among member countries.

Back 94

Free Trade Area

Front 95

A policy that requires a nation to produce goods that were formerly imported.

Back 95

Import Substitution

Front 96

Programs in developing markets that allow consumers, with no property as collateral, to borrow sums averaging $100 to make purchases, and to have access to retail banking services.

Back 96

Microfinance

Front 97

A composite measure of the level of welfare in a country, including life expectancy, infant mortality, and adult literacy rates.

Back 97

Physical Quality of Life Index (PQLI)

Front 98

A measure of how many units of currency are needed in one country to buy the amount of goods and services that one unit of currency will buy in another country

Back 98

purchasing power parities (PPP)

Front 99

A sharp reduction in demand for both consumer and industrial goods due to buyer uncertainty about the state of their nation’s economy.

Back 99

Chill Effect

Front 100

The relationships among stakeholders used to determine and control the strategic direction and performance of an organization.

Back 100

Corporate Governance

Front 101

A fund to cover the costs of domestic safety regulations, made up from fees imposed on U.S. chemical manufacturers, based upon volume of production.

Back 101

Envirnmental Superfund

Front 102

Governmental policy designed to deny or at least delay the acquisition of strategically important goods by adversaries.

Back 102

Export Control Systems

Front 103

Another term for greasing the wheels

Back 103

Functional Lubrication