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Chapter 5 Concepts

TermDefinition
Tariff a tax levied on the goods entering the country. Normally, a tariff raises prices of the imported goods and makes it easier for domestic firms to compete.
Quota a limit on the amount of specific product that can enter a country. Used as a form of protection of foreign competition.
Boycotts governments use boycotts to exclude companies from countries with which they have a political dispute
Exchange Control a law compelling a company earning foreign exchange from its exports to sell it to a control agency, usually a central bank.
Market Grouping/Common Trade Alliance occurs when several countries agree to work together to form a common trade area that enhances trade opportunities. The EU is the best known market grouping.
Trade Agreement an agreement to stimulate international trade.
Risk Levels for Five Methods of Entering the Global Marketplace 1. Exporting (Low Risk, Low Return) 2. Licensing 3. Contract Manufacturing 4. Joint Venture 5. Direct Investment (High Risk, High Return)
One Product, One Message developing a single product for all markets and promoting it the same way all over the world. Place (Distribution) - Channel Choice Price - Dumping
Product Invention can be taken to mean either creating a new product for a market or drastically changing an existing product. Place (Distribution) - Channel Structure Price - Countertrade
Product Adaptation slightly altering a basic product to meet local conditions Place (Distribution) - Country Infrastructure Price - Exchange Rates
Message Adaptation Price - Purchasing Power
Opening an e-commerce site on the internet.... ....immediately puts a company in the international marketplace
Created by: gwd220
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