Developing A Global Vision

Question 0

Recognizing and reacting to international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets

Answer 0

Global vision

Question 1

Marketing that targets markets throughout the world

Answer 1

Global marketing

Question 2

Job outsourcing

Answer 2

Sending us jobs abroad

Question 3

A company that is heavily engaged in international trade, beyond exporting and importing

Answer 3

Multinational corporation

Question 4

Using more capital than labor in the production process

Answer 4

Capital intensive

Question 5

Production of uniform products that can be sold the same way all over the world

Answer 5

Global marketing standardization

Question 6

The largest Latin American trade agreement; includes Argentina, Bolivia, chile, Colombia, Ecuador, Paraguay, Peru, and Uruguay

Answer 6

Mercosur

Question 7

A tax levied on the goods entering a country

Answer 7

Tariff

Question 8

A limit on the amount of a specific product that can enter a country

Answer 8

Quota

Question 9

The exclusion of all products from certain countries or companies

Answer 9

Boycott

Question 10

A law compelling a company earning foreign exchange from its exports to sell it to a control agency, usually a central bank.

Answer 10

Exchange control

Question 11

Occurs when several countries agree to work together to form a common trade area that enhances trade opportunities

Answer 11

Market grouping
Or
Common alliance

Question 12

An agreement to stimulate international trade

Answer 12

Trade agreement

Question 13

An agreement to dramatically lower trade barriers worldwide; created the World Trade Organization

Answer 13

Uruguay Round

Question 14

Trade organization that replaced the old General Agreement on Tariffs and Trade (GATT)

Answer 14

World Trade Organization (WTO)

Question 15

A trade agreement that contained loopholes enabling countries to avoid trade-barrier reduction agreements

Answer 15

General Agreement on Tariffs and Trade (GATT)

Question 16

an agreement between Canada, the United States, and Mexico that created the worlds largest free trade zone

Answer 16

North American Free Trade Agreement (NAFTA)

Question 17

A trade agreement, instituted in 2005, that includes Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and the United States

Answer 17

Central American Free Trade Agreement

CAFTA

Question 18

A free trade zone encompassing 27 European countries

Answer 18

European Union (EU)

Question 19

An international bank that offers low-interest loans, advice, and information to developing nations

Answer 19

World Bank

Question 20

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

Answer 20

International Monetary Fund (IMF)

Question 21

A forum for international economic development that promoted discussion between industrial and emerging-market countries on key issues related to global economic stability

Answer 21

Group of Twenty (G-20)

Question 22

Selling domestically produced products to buyers in other countries

Answer 22

Exporting

Question 23

An intermediary in the global market who assumed all ownership risks and sells globally for it own account

Answer 23

Buyer for export

Question 24

Export broker

Answer 24

An intermediary who plays the traditional brokers role by bringing buyer and seller together

Question 25

An intermediary who acts like a manufacturers agent for the exporter; they live in the foreign market

Answer 25

Export agent

Question 26

The legal process whereby a licensor allows another firm to use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge

Answer 26

Licensing

Question 27

Private-label manufacturing by a foreign company

Answer 27

Contract manufacturing

Question 28

When a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity

Answer 28

Joint venture

Question 29

Active ownership of a foreign company or of overseas manufacturing or marketing facilities

Answer 29

Direct foreign investment

Question 30

To succeed, firms seeking to enter into foreign trade must still adhere to the principles of

Answer 30

The marketing mix

Question 31

Either creating a new product for a market or drastically changing an existing product

Answer 31

Product invention

Question 32

To slightly alter a basic product to meet local conditions

Answer 32

Product adaptation

Question 33

Maintain the same basic product but alter the promotion strategy

Answer 33

Promotion adaptions

Question 34

A system in which prices of different currencies move up and down based on the demand for and the supply of each currency

Answer 34

Floating exchange rates

Question 35

The sale of an exported product at a price lower than that charged for same or a like product in the "home" market of the exporter

Answer 35

Dumping

Question 36

A form of trade in which all or part of the payment for goods or services is in the form of other goods or services

Answer 36

Countertrade