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Flashcards in marketing ch.7 Deck (56)
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1

how do imports/exports affect eachother

more exports-->more GDP--> more imports

2

Countertrade

using barter rather than money for global sales. 15-20% of world uses

3

US leader in what measure

GDP

4

Balance of Trade

the difference between monetary value of exports and imports

5

Deficit

imports>exports

6

4 elements of Competitive Advantage

factor conditiosn, demand conditions, related and supporting industries, company strategy structure and rivalry

7

Factor Conditions

the ability to turn natural resources/edu/infurstructure into competitive advantage

8

Demand Conditions

the number and sophistication of domestic customer. Ex. Japan demand high quality

9

Related and Supporting industries

need world class suppliers to accelerate innovation

10

Company Strategy, structure and rivalry

conditions governing business, intensity of competition domestically.

11

Economic Espionage Act (1996)

theft of trade secrets by foreign entities a federal crime in US

12

4 trends influencing global market

Trend 1: Gradual decline of economic protectionism by individual countries.
Trend 2: Formal economic integration and free trade among nations.
Trend 3: Global competition among global companies for global customers.
Trend 4: Emergence of a networked global market space.

13

Protectionism

shielding industries within a country's economy through tariffs/quotas

14

Tariffs

government tax on goods/services entering a country

15

Quotas

restriction on amount of product allowed to enter/leave

16

World Trade Organization

sets rules governing trade between members

17

EU

European Union. Eliminated barriers to free flow of goods. Adopt Euro. Universal standards/regulations across Europe

18

NAFTA

North American Free Trade Agreement. Limit trade barriers between Canada Mexico US

19

Asian Free Trade Agreements

less formal attempt at EU and NAFTA

20

Strategic Alliances

agreements among firms to cooperate for the purpose of achieving common goals

21

Three types of global companies

international multinational transnational

22

International

Engages in trade and marketing in diff countries as extension of marketing strategy at home. Same product, Same marketing

23

Multinational

Markets to each part of the world differently. Different Product variations, brand names and ad programs in different countries. (Multidomestic marketing strategy)

24

Multidomestic marketing strategy

they have different product variations, brand names and ad programs in different countries

25

Transnational

views world as one giant market. Capitalizes on cultural similarities

uses global marketing strategy

markets global brand

26

Global Marketing Strategy

standardizing marketing activities where there are cultural similarities. Adapting where the differ

27

Global Brand

marketed under same name in multiple countries using same/coordinating marketing programs

28

Cross cultural Analyisis

study of similarities and differences among consumers in nations

29

Values

personally or socially preferable modes of conduct or states of existence. (ex. McDonalds dosnt sell beef in india, cow sacred)

30

Customs

what is considered normal and expected about the way people do things in a specific country