Midterm Final Notes
Marketing Exam-Chapter 7,9,10,11,12,13,14,16,17
Chapter 7-Reaching global markets
Countertrade: the practice of using barter rather than money for making global sales.
Trade feedback effect: a country’s imports affect its exports and exports affect its imports
(GDP) Gross Domestic Product: The monetary value of all goods and services produced in a country during a year
Balance of trade: the difference between the monetary value of a nation’s exports and imports
Protectionism: the practice of shielding one or more industries within a country’s economy from foreign competition through the use of tariffs or quotas
Tariff: a government tax on goods or services entering a country, which primarily serves to raise prices on imports.
Quota: a restriction placed on the amount of a product allowed to enter or leave a country
Global competition: exists when firms originate, produce, and market their products, and services worldwide.
Strategic alliances: agreements among two of more independent firms that cooperate for the purpose of achieving common goals, such as a competitive advantage or customer value creation.
Multidomestic marketing strategy: Use of as many different product variations, brand names, and advertising programs as countries in which they do business.
Global marketing strategy: the practice of standardizing marketing activities when there are cultural similarities and adapting them when culture differs
Global brand: a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs
Global consumers: consumer groups living in many countries or regions of the world that have similar needs or seek similar features and benefits from products or services
Cross-cultural analysis: involves the study of similarities and differences among consumer in two or more nations or societies.
Customs: norms and expectations about the way people do things in a specific country.
Chapter 7-Reaching global markets
Countertrade: the practice of using barter rather than money for making global sales.
Trade feedback effect: a country’s imports affect its exports and exports affect its imports
(GDP) Gross Domestic Product: The monetary value of all goods and services produced in a country during a year
Balance of trade: the difference between the monetary value of a nation’s exports and imports
Protectionism: the practice of shielding one or more industries within a country’s economy from foreign competition through the use of tariffs or quotas
Tariff: a government tax on goods or services entering a country, which primarily serves to raise prices on imports.
Quota: a restriction placed on the amount of a product allowed to enter or leave a country
Global competition: exists when firms originate, produce, and market their products, and services worldwide.
Strategic alliances: agreements among two of more independent firms that cooperate for the purpose of achieving common goals, such as a competitive advantage or customer value creation.
Multidomestic marketing strategy: Use of as many different product variations, brand names, and advertising programs as countries in which they do business.
Global marketing strategy: the practice of standardizing marketing activities when there are cultural similarities and adapting them when culture differs
Global brand: a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs
Global consumers: consumer groups living in many countries or regions of the world that have similar needs or seek similar features and benefits from products or services
Cross-cultural analysis: involves the study of similarities and differences among consumer in two or more nations or societies.
Customs: norms and expectations about the way people do things in a specific country.