Globalisation and international marketing

Question 1

Globalisation

Answer 1

the growing trend towards worldwide markets in products, capital and labour, unrestricted by barriers.

Question 2

Multinational companies

Answer 2

businesses that have operations in more than one country.

Question 3

Free international trade

Answer 3

international trade that is allowed to take place without restrictions such as ‘protectionist’ tariffs and quotas.

Question 4

Tariff

Answer 4

tax imposed on an imported product.

Question 5

Quota

Answer 5

a physical limit placed on the quantity of imports of certain products.

Question 6

International marketing

Answer 6

selling products in markets other than the original domestic market.

Question 7

BRICS

Answer 7

the acronym for five rapidly developing economies with great market opportunities – Brazil, Russia, India, China and South Africa.

Question 8

Pan-global marketing

Answer 8

adopting a standardised product across the globe as if the entire world were a single market – selling the same goods in the same way everywhere.