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20 Cards in this Set

  • Front
  • Back
International marketing
Developing and performing
marketing activities across
national boundaries
Gross domestic product
The market value
of a nation’s total output of
goods and services for a given
period; an overall measure of
economic standing
Import tariff
A duty levied
by a nation on goods bought
outside its borders and brought
into the country
Quota
A limit on the amount
of goods an importing country
will accept for certain product
categories in a specific period of
time
Embargo
A government’s
suspension of trade in a
particular product or with a given
country
Exchange controls
Government restrictions on the
amount of a particular currency
that can be bought or sold
Balance of trade
The
difference in value between a
nation’s exports and its imports
Cultural relativism
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
Trading company
A
company that links buyers and
sellers in different countries
Licensing
An alternative to
direct investment that requires a
licensee to pay commissions or
royalties on sales or supplies used
in manufacturing
Franchising
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
Contract manufacturing
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
Outsourcing
The practice of
contracting noncore operations
with an organization that
specializes in that operation
Offshoring
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)
Offshore outsourcing
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
Joint venture
A partnership
between a domestic firm and a
foreign firm or government
Strategic alliance
A
partnership that is formed to
create a competitive advantage
on a worldwide basis
Direct ownership
A situation
in which a company owns
subsidiaries or other facilities
overseas
MNE
A
firm that has operations or
subsidiaries in many countries
Globalization
The
development of marketing
strategies that treat the entire
world (or its major regions) as a
single entity