Mkt 9

Front 1

International marketing

Back 1

Developing and performing
marketing activities across
national boundaries

Front 2

Gross domestic product

Back 2

The market value
of a nation’s total output of
goods and services for a given
period; an overall measure of
economic standing

Front 3

Import tariff

Back 3

A duty levied
by a nation on goods bought
outside its borders and brought
into the country

Front 4

Quota

Back 4

A limit on the amount
of goods an importing country
will accept for certain product
categories in a specific period of
time

Front 5

Embargo

Back 5

A government’s
suspension of trade in a
particular product or with a given
country

Front 6

Exchange controls

Back 6

Government restrictions on the
amount of a particular currency
that can be bought or sold

Front 7

Balance of trade

Back 7

The
difference in value between a
nation’s exports and its imports

Front 8

Cultural relativism

Back 8

The
concept that morality varies from
one culture to another and that
business practices are therefore
differentially defined as right or
wrong by particular cultures

Front 9

Trading company

Back 9

A
company that links buyers and
sellers in different countries

Front 10

Licensing

Back 10

An alternative to
direct investment that requires a
licensee to pay commissions or
royalties on sales or supplies used
in manufacturing

Front 11

Franchising

Back 11

A form of licensing
in which a franchiser, in exchange
for a financial commitment, grants
a franchisee the right to market
its product in accordance with
the franchiser’s standards

Front 12

Contract manufacturing

Back 12

The practice of hiring a foreign
firm to produce a designated
volume of the domestic firm’s
product or a component of it
to specification; the final product
carries the domestic firm’s name

Front 13

Outsourcing

Back 13

The practice of
contracting noncore operations
with an organization that
specializes in that operation

Front 14

Offshoring

Back 14

The practice
of moving a business process
that was done domestically at
the local factory to a foreign
country, regardless of whether
the production accomplished in
the foreign country is performed
by the local company (e.g., in a
wholly owned subsidiary) or a
third party (e.g., subcontractor)

Front 15

Offshore outsourcing

Back 15

The
practice of contracting with an
organization to perform some or
all business functions in a country
other than the country in which
the product or service will be sold

Front 16

Joint venture

Back 16

A partnership
between a domestic firm and a
foreign firm or government

Front 17

Strategic alliance

Back 17

A
partnership that is formed to
create a competitive advantage
on a worldwide basis

Front 18

Direct ownership

Back 18

A situation
in which a company owns
subsidiaries or other facilities
overseas

Front 19

MNE

Back 19

A
firm that has operations or
subsidiaries in many countries

Front 20

Globalization

Back 20

The
development of marketing
strategies that treat the entire
world (or its major regions) as a
single entity