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Marketing Mngmt 9
Vocabulary Terms Chpt 19
Question | Answer |
---|---|
A firm that operates in more than one country, gains R&D, production, marketing, etc in its cost and reputation that are not available to domestic competitors. | Global firm |
A group of nations organized to work toward common goals in the regulation of international trade. (e.g. WTO or GATT) | Economic Community |
International trade involving the direct or indirect exchange of goods for other goods instead of cash. | Countertrade |
Entering a foreign market by selling goods produced in the company's home country, often with little modification | Exporting |
Entering foreign market by joining with foreign companies to produce or market a product or service. | Joint Venturing |
A method of entering a foreign market in which the company enters into an agreement with a licensee in the foreign market. | Licensing |
Joint venture in which a company contracts with manufacturers in a foreign market to produce the product or provide its service. | Contract manufacturing |
Joint venture in which the domestic firm supplies the management know how to a foreign company. Firm exports management services rather than products. | Management Contracting |
Joint venture in which a company joins investors in a foreign market to create a local business in which the company shares joint ownership and control. | Joint ownership |
Entering a foreign market by developing foreign-based assembly or manufacturing facilities. | Direct investment |
International marketing strategy for using basically the same marketing strategy and mix in all the company's international markets. | Standardized global marketing |
International marketing strategy for adjusting the marketing strategy and mix elements to each international target market, bearing more costs but hoping for a larger market share and return. | Adapted global marketing |
Marketing a product in a foreign market without any change. | Straight product extension |
Adapting a product to meet local conditions or wants in foreign markets. | Product adaptation |
Creating new products or services for foreign markets. | Product invention |
A global communication strategy of fully adapting advertising messages to local markets. | Communication adaptation |
International channels that take into account the entire global supply chain and marketing channel, an effective value delivery network. | Whole-channel view |