Chapter 5 Flashcards
Global vision
Recognizing and reacting to international marketing opportunities, using effective global marketing strategies and being aware of threats from foreign competitions in market
Global marketing
Marketing that targets markets around the world
Job outsourcing
Sending US jobs abroad
Multinational corporation
A company that is heavily engaged in international trade, beyond exporting and importing
Capital intensive
Using more capital than labor in the production process
Global marketing standardization
Production of uniform products that can be sold the same way all over the world
Mercosur
The largest Latin American trade agreement, includes Argentina Bolivia Brazil chili Ecuador Paraguay Peru and Uruguay
Uruguay round
An agreement to dramatically lower trade barriers worldwide, created the world trade organization
World trade organization
Trade organization that replaced the old general agreement on tariffs and trade
General agreement on tariffs and trade
A trade agreement that contained loopholes enabling countries to avoid triads barriers reduction agreements
North American free trade agreement
An agreement between Canada the United States and Mexico that created the worlds largest free trade zone
European Union
A free trade zone encompassing 27 European countries
World bank
An international bank that offers low interest loans advice and information to developing nations
International Monetary Fund
An international organization that acts as a lender of last resort, providing loans to troubled nations and also works to promote trade through financial cooperation
Group on 20
A forum for international economic development that promotes discussion between industrial and emerging market countries on key issues related to global economic stability
