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MKTG 250 Chapter 7

TermDefinition
Countertrade is the practice of using barter rather than money for making global sales
GDP Gross Domestic Product
Protectionism Shielding country’s industry from competition
Quota Restriction on amount allowed to enter/leave country
Tariff Taxes on products or services entering a country
International Firm Marketing Strategy Extension of home marketing strategy
Multidomestic Firm Marketing Strategy Different products, brands, and advertising
Transnational Firm Standardized marketing activities when cultures are similar; different activities when cultures differ
Economic Espionage Clandestine collection of trade secrets or proprietary information
Cross Cultural Analysis Study of similarities and differences in 2+ countries
Customs What is considered normal and expected
Ethnocentrism Believe it is wrong to purchase foreign-made products
Currency Exchange Rate the price of one country's currency expressed in terms of another country's currency
Product Extensions same product sold in different countries (ex: coca-cola, niike, apple)
Product Adaptation change product for different countries (ex: frito-lay, maybelline)
Product Invention new product for different countries (ex: black and decker, whirlpool)
Dumping selling a product below its cost
Gray Market where products are sold through unnauthorized channels
Exporting when a company produces products in one country and sells them in another
Licesnsing right to a trademark, patent, or trade secret
Joint Venture foreign and local companies invest together
Economic Infrastructure a country’s communications, transportation, financial, and distribution systems
Consumer Income & Purchasing Power consider the average per capita income in a country
Values Personally or socially preferable modes of conduct that persist over time
International Firm markets in other countries same as home country
Multinational Firm markets differently to each country
Transnational Firm emphasize universal consumer needs.
Direct Investment own a foreign subsidiary
Created by: user-2023011
 

 



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