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34 Cards in this Set
- Front
- Back
International Marketing
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The performance of business activities designed to plane, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit
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Controllable Elements
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The aspects of trade over which a company has control and influence; they include marketing decisions covering product, price, promotion, distribution, research, and advertising.
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Uncontrollable Elements
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Factors in the business environment over which the international marketer has no control or influence, may include competition, legal restraints, government controls, weather, consumer preferences and behavior, and political events.
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Domestic Uncontrollables
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Factors in a company's home country over which the company has little or no control or influence. They include political and legal forces, the economic climate, the level of technology, competitive forces, and economic forces.
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Foreign Uncontrollables
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Factors in the foreign market over which a business operation in its home country has little or no control or influence. They include political and legal forces, economic climate, geography, and infrastructure, level of technology, structure of distribution, and level of technology.
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Marketing Relativism
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The belief that efforts are relative to the society where they exist and that its criticism and evaluation are irrelevant
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Self-Reference Criterion (SRC)
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An unconscious reference to one's own cultural values, experience, and knowledge as a basis for a decision.
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Global Awareness
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A frame of reference, important to the success of a businessperson, that embodies tolerance of cultural differences and knowledge of cultures, history, world market potential, and global economic, social, and political trends.
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GATT
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Generall Agreement on Tariffs and Trade; a trade agreement signed by the United States and 22 other countries shortly after World War II. The original agreement provided a process to reduce tariffs and created an agency to patrol world trade; the treaty and subsequent meetings have produced agreements significantly reducing tariffs.
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Balance of Payments
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The system of accounts that records a nations international financial transactions.
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Current Account
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The portion of a balance of payments statement that shows a record of all merchandise exports, imports, and services, plus unilateral transfers of funds.
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Tariff
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A fee or tax that countries impose on imported goods, often to protect a country's markets from intrusion from foreign countries.
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IMF
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The International Monetary Fund. A global institution that, along with the World Bank Group, was created to assist nations in becoming and remaining economically viable.
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Nontariff Barriers
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Restrictions, other than tariffs, placed by countries on imported products; they may include quality standards, sanitary and health standards, quotas, embargoes, boycotts, and antidumping penalties.
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Voluntary Export Restraint (VER)
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Agreements, similar to quotas, between an importing country and an exporting country for a restriction on the volume of exports.
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Protectionism
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The use by nations of legal barriers, exchange barriers, and psychological barriers to restrain entry of goods from other countries.
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WTO
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World Trade Organization. The organization formed in 1994 that encompasses the GATT structure and extends it to new areas that had not been adequately covered previously. The WTO adjudicates trade disputes. All member countries have equal representations.
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Manifest Destiny
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The notion that Americans were a chosen people ordained by God to create a model society; it was accepted as the basis for U.S. policy during much of the 19th and 20th centuries as the nation expanded its territories.
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Roosevelt Corollary
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An extension of U.S. policy applied to the Monroe Doctrine by President Theodore Roosevelt, stating that the United States would not only prohibit non-American intervention in Latin American affairs but would also police Latin America and guarantee that all Latin American nations would meet their international obligations.
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Sustainable Development
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An approach toward economic growth that has been described as a cooperative effort among businesses, environmentalists, and others to seek growth with "wise resource management, equitable distribution of benefits, and reduction of negative efforts on people and the environment from the process of economic growth."
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Monroe Doctrine
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A cornerstone of U.S. foreign policy as enunciated by President James Monroe, it proclaimed three basic dicta: no further European colonization in the New World, abstention of the United States from European political affairs, and nonintervention of European political affairs, and nonintervention of European governments in the governments of the Western Hemisphere.
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Culture
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The human-made part of human environment-the sum total of knowledge, beliefs, arts, morals, laws, customs, and any other capabilities and habits acquired by humans as members of society.
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Cultural Sensitivity
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An awareness of the nuances of culture so that a culture can be viewed objectively, evaluated, and appreciated; an important part of foreign marketing.
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Social Institutions
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The methods and systems, including family, religion, school, the media, government, and corporations, that affect the ways in which people relate to one another, teach acceptable behavior to succeeding generations, and govern themselves.
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Factual Knowledge
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A type of knowledge or understanding of a foreign culture that encompasses different meanings of color, different tastes, and other traits of a culture that a marketer can study, anticipate, and absorb.
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Ethnocentrism
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Characterized by or based on the attitude that one's own group is superior
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Interpretive Knowledge
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An ability to understand and to appreciate fully the nuances of different cultural traits and patterns
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Strategy of Cultural Congruence
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A marketing strategy in which products are marketed in a way similar to the marketing of products already in the marketing a manner as congruent as possible with existing cultural norms
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Cultural Values
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The system of beliefs and customs held by a population in a given culture. A book by Geert Hofstede describes a study of 66 nations and divides the cultural values of those nations into four primary dimensions: the Individualized/Collectivism Index, the Power Distance Index, and the Masculinity/Femininity Index.
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Linguistic Distance
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The measure of difference between languages; an important factor in determining the amount of trade between nations.
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Cultural Borrowing
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The phenomenon by which societies learn from other cultures' ways and borrow ideas to solve problems or improve conditions.
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Strategy of Unplanned Change
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A marketing strategy in which a company introduces a product into a market without a plan to influence the market's culture responds to or resists the company's marketing message.
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Aesthetics
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Philosophically, the creation and appreciation of beauty; collectively, the arts, including folklore, music, drama, and dance.
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Strategy of Planned Change
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A marketing strategy in which a company deliberately sets out to change those aspects of a foreign culture resistant to predetermined marketing goals.
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