International Marketing Test One

Front 1

International Marketing

Back 1

The performance of business activities designed to plane, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit

Front 2

Controllable Elements

Back 2

The aspects of trade over which a company has control and influence; they include marketing decisions covering product, price, promotion, distribution, research, and advertising.

Front 3

Uncontrollable Elements

Back 3

Factors in the business environment over which the international marketer has no control or influence, may include competition, legal restraints, government controls, weather, consumer preferences and behavior, and political events.

Front 4

Domestic Uncontrollables

Back 4

Factors in a company's home country over which the company has little or no control or influence. They include political and legal forces, the economic climate, the level of technology, competitive forces, and economic forces.

Front 5

Foreign Uncontrollables

Back 5

Factors in the foreign market over which a business operation in its home country has little or no control or influence. They include political and legal forces, economic climate, geography, and infrastructure, level of technology, structure of distribution, and level of technology.

Front 6

Marketing Relativism

Back 6

The belief that efforts are relative to the society where they exist and that its criticism and evaluation are irrelevant

Front 7

Self-Reference Criterion (SRC)

Back 7

An unconscious reference to one's own cultural values, experience, and knowledge as a basis for a decision.

Front 8

Global Awareness

Back 8

A frame of reference, important to the success of a businessperson, that embodies tolerance of cultural differences and knowledge of cultures, history, world market potential, and global economic, social, and political trends.

Front 9

GATT

Back 9

Generall Agreement on Tariffs and Trade; a trade agreement signed by the United States and 22 other countries shortly after World War II. The original agreement provided a process to reduce tariffs and created an agency to patrol world trade; the treaty and subsequent meetings have produced agreements significantly reducing tariffs.

Front 10

Balance of Payments

Back 10

The system of accounts that records a nations international financial transactions.

Front 11

Current Account

Back 11

The portion of a balance of payments statement that shows a record of all merchandise exports, imports, and services, plus unilateral transfers of funds.

Front 12

Tariff

Back 12

A fee or tax that countries impose on imported goods, often to protect a country's markets from intrusion from foreign countries.

Front 13

IMF

Back 13

The International Monetary Fund. A global institution that, along with the World Bank Group, was created to assist nations in becoming and remaining economically viable.

Front 14

Nontariff Barriers

Back 14

Restrictions, other than tariffs, placed by countries on imported products; they may include quality standards, sanitary and health standards, quotas, embargoes, boycotts, and antidumping penalties.

Front 15

Voluntary Export Restraint (VER)

Back 15

Agreements, similar to quotas, between an importing country and an exporting country for a restriction on the volume of exports.

Front 16

Protectionism

Back 16

The use by nations of legal barriers, exchange barriers, and psychological barriers to restrain entry of goods from other countries.

Front 17

WTO

Back 17

World Trade Organization. The organization formed in 1994 that encompasses the GATT structure and extends it to new areas that had not been adequately covered previously. The WTO adjudicates trade disputes. All member countries have equal representations.

Front 18

Manifest Destiny

Back 18

The notion that Americans were a chosen people ordained by God to create a model society; it was accepted as the basis for U.S. policy during much of the 19th and 20th centuries as the nation expanded its territories.

Front 19

Roosevelt Corollary

Back 19

An extension of U.S. policy applied to the Monroe Doctrine by President Theodore Roosevelt, stating that the United States would not only prohibit non-American intervention in Latin American affairs but would also police Latin America and guarantee that all Latin American nations would meet their international obligations.

Front 20

Sustainable Development

Back 20

An approach toward economic growth that has been described as a cooperative effort among businesses, environmentalists, and others to seek growth with "wise resource management, equitable distribution of benefits, and reduction of negative efforts on people and the environment from the process of economic growth."

Front 21

Monroe Doctrine

Back 21

A cornerstone of U.S. foreign policy as enunciated by President James Monroe, it proclaimed three basic dicta: no further European colonization in the New World, abstention of the United States from European political affairs, and nonintervention of European political affairs, and nonintervention of European governments in the governments of the Western Hemisphere.

Front 22

Culture

Back 22

The human-made part of human environment-the sum total of knowledge, beliefs, arts, morals, laws, customs, and any other capabilities and habits acquired by humans as members of society.

Front 23

Cultural Sensitivity

Back 23

An awareness of the nuances of culture so that a culture can be viewed objectively, evaluated, and appreciated; an important part of foreign marketing.

Front 24

Social Institutions

Back 24

The methods and systems, including family, religion, school, the media, government, and corporations, that affect the ways in which people relate to one another, teach acceptable behavior to succeeding generations, and govern themselves.

Front 25

Factual Knowledge

Back 25

A type of knowledge or understanding of a foreign culture that encompasses different meanings of color, different tastes, and other traits of a culture that a marketer can study, anticipate, and absorb.

Front 26

Ethnocentrism

Back 26

Characterized by or based on the attitude that one's own group is superior

Front 27

Interpretive Knowledge

Back 27

An ability to understand and to appreciate fully the nuances of different cultural traits and patterns

Front 28

Strategy of Cultural Congruence

Back 28

A marketing strategy in which products are marketed in a way similar to the marketing of products already in the marketing a manner as congruent as possible with existing cultural norms

Front 29

Cultural Values

Back 29

The system of beliefs and customs held by a population in a given culture. A book by Geert Hofstede describes a study of 66 nations and divides the cultural values of those nations into four primary dimensions: the Individualized/Collectivism Index, the Power Distance Index, and the Masculinity/Femininity Index.

Front 30

Linguistic Distance

Back 30

The measure of difference between languages; an important factor in determining the amount of trade between nations.

Front 31

Cultural Borrowing

Back 31

The phenomenon by which societies learn from other cultures' ways and borrow ideas to solve problems or improve conditions.

Front 32

Strategy of Unplanned Change

Back 32

A marketing strategy in which a company introduces a product into a market without a plan to influence the market's culture responds to or resists the company's marketing message.

Front 33

Aesthetics

Back 33

Philosophically, the creation and appreciation of beauty; collectively, the arts, including folklore, music, drama, and dance.

Front 34

Strategy of Planned Change

Back 34

A marketing strategy in which a company deliberately sets out to change those aspects of a foreign culture resistant to predetermined marketing goals.