Theme 4 Flashcards

Question

what is dumping

Answer 1

over production in developed countries may be released into the markets of developing nations which undercuts domestic prices and domestic producers may be forced to leave the market

Answer 2

portectionist measures might be to portect domestic jobs if infront industries are allowed to grow or local businesses arent undercut by MNC'S from developed countires

Answer 3

a group of countries that come together and make sure agreements to make imports and exports cheaper and easier

Answer 4

placing restricyions on imports may help to reduce a balance of payments on current account

Answer 5

goverment payments to domestic businessesto help reduce production costs and improve competitiveness

Answer 6

european union ASEAN USMCA

Answer 7

saturated domestic markets low growth oppourtunites end of the product life cycle at home need to diversfy need to reduce risk

Answer 8

attractions to new overseas markets in emerging economies oppourtunity to gain EOS by expanding overseas oppourtunity to exploit competitve advantages in new markets

Answer 9

a business may deciede to reloacte its business overseas this is to take advatage of low labour costs in manufacturing cost efficiencies and supply chains

Answer 10

this is where a business function such as payroll is contracted out to a third party business. this third party business may or may not be located abroad

Answer 11

the basic end physical orginisational structures and facilities needed for the operation of a society or business

Answer 12

you may need raw materials from that country if you dont locate you may have to import which could be expensive. This will push up the costs of your production which will reuslt in reduced profits

Answer 13

spreading risk over different countries enetring raw materials/trading blocs acquiring international brand names sequring resources / supplies maintaining/increasing global comptetitiveness

Answer 14

a global merger is an agreement between two companies from different countries to join forces pernamently

Answer 15

an agreement to work together on a specific prject or region for a specified time such as ten years

Answer 16

involves expansion from within a business for example by expanding the [prduct range or number of business units and location organic growth builds on the business own capabiities and resources

Answer 17

inflation: deoreciation can cause inflation and this will lead to uncertainty in business recession: if there is a weak pound this is great for exports at lwoer prices but if there is a recession in the country buying the goods then demand will still be low. PED:if goods are price inelsatic then the lower price due to the weak pound wont affect demand raw materials: affect of appreciation or depreciation depends on how many raw materials the business buys competition: affects of appreciation or depreciation depends on how competitive the market is that the biusiness trades in

Answer 18

low cost leadership differentiation

Answer 19

with this stratergy a business will seek to produce the same quality products as its competitors at a lower price

Answer 20

a business will produce a unique product or give a unique service. they may have similar products but each will have some attributes which set it aside from the competition

Answer 21

this is when there is a lack of workers with the right qualifications in the industry business which follow differentiation are more vunrable to skills shortages as they will require more skilled staff

Answer 22

veiwing the world as a global makret place. creates a global brand. reating products that will suit a world audience

Answer 23

product markets emphasis on the similarities of customers aspirations or tastes consumer access to the media

Answer 24

product markets emphasis on the similarities of customers aspirations or tastes consumer access to the media

Answer 25

EOS in production and distribution lower average marketing costs power in the market as your brand is known consistency in brand image

Answer 26

higher average marketing costs more international competition differences in consumer needs and wants differences in legal enviroments

Answer 27

used to describe products and services that are both developed and sold to global customers but desgined so that they suit the needs of local markets

Answer 28

the decision wether products sold in a new international market should be adpated or standardisedq

Answer 29

adapt to each market to appeal to local customers to maximise profits revenue

Answer 30

strandardise the product for all markets to keep costs low

Answer 31

business can have some of the pros of a standardised approach to get eos but cater for needs of individual markets to maximise sales. focuses on a particular region of the globe

Answer 32

product place price promotion

Answer 33

the process of spliting s business target markrt into different groups. Businesses use these groups to make it easier for them o develope products aimed at a certain group of people and to help then target their marketing

Answer 34

demographic behavioural psychological geographic

Answer 35

very small in each country but the combination og all the countries together is subset of a global market high specialized and is characterised by very loyal customers and premium prices

Answer 36

range of different societies or people of different origins religouns and traditions all living and interacting togetehr

Answer 37

sometimes called transnational company is a company that owns or controls production or service facilities

Theme 4 Flashcards

(61 cards)