Foundations Of Marketing Chpt. 8

Front 1

International Marketing

Back 1

Developing and performing marketing activities across national boundaries

Front 2

Gross domestic product (GDP)

Back 2

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

Front 3

Important tariff

Back 3

Duty levied by a nation in good bought outside it's borders and brought into the country

Front 4

Quota

Back 4

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

Government's suspension of trade in a particular product or with a given country

Front 6

Exchange controls

Back 6

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

Front 7

Balance of trade

Back 7

Difference in value between a nation'a exports and imports

Front 8

Cultural relativism

Back 8

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

Front 9

Dumping

Back 9

Selling products at unfairly low prices

Front 10

Trading company

Back 10

A company that links buyers and sellers in different countries

Front 11

Licensing

Back 11

Alternative to direct investment that requires a licensee to lay commissions or royalties on sale or supplies used in manufacturing

Front 12

Contract
Manufacturing

Back 12

Practice of hiring a foreign firm to produce a designated volume of 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

Practice of contracting noncore operations with an organization that specializes in the operations

Front 14

Offshoring

Back 14

Practice of moving a business process that was done at the local factory to a foreign country, regardless of whether production accomplished in the foreign country is performed by local company

Front 15

Offshore outsourcing

Back 15

Practice of contracting with an organization to perform some or all business fictions in country other than in original country where product/service will be sold

Front 16

Joint venture

Back 16

Partnership between a domestic firm and foreign firm/government

Front 17

Strategic alliance

Back 17

Partnership formed to create a competitive advantage on a worldwide basis

Front 18

Direct ownership

Back 18

Situation in which a company owns subsidiaries or other facilities overseas

Front 19

Multinational enterprise

Back 19

Firm that has operations or subsidiaries in many countries

Front 20

Globalization

Back 20

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