MKT Ch. 5

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Dbadams94
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MKT Ch. 5
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2015-09-27 00:58:59
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MKT
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  1. Having a global vision means what 3 things? (RUB)
    • 1. Recognizing/reacting to opportunities
    • 2. Using effective strategies
    • 3. Being aware of threats from foreign competitors
  2. 4 negatives of trade and globalization. (MMTV)
    • 1. Millions have lost jobs
    • 2. Millions fear losing jobs
    • 3. Threat of outsourcing
    • 4. Vulnerability to operations moving offshore
  3. 6 benefits of globalization. (ECPAHC)
    • 1. Economic freedom
    • 2. Competition
    • 3. Productivity
    • 4. Access to foreign capital, global exports, and technology
    • 5. Higher standards
    • 6. Check on gov. power
  4. More than 38 million Americans jobs depend on...
    trade.
  5. ... is the sector that exports the most.
    Manufacturing
  6. 7 top service exports. (ABEEIIT)
    • 1. Audiovisual
    • 2. Banking
    • 3. Energy services
    • 4. Express delivery
    • 5. IT
    • 6. Insurance
    • 7. Telecommunication
  7. 1 in every 3 acres on American farms is planted for...
    export markets.
  8. Companies depend on imports for... and...
    raw materials, competitively priced inputs.
  9. Imports bring... and... for American families on a budget.
    lower prices, more choices.
  10. Imports give us... to products that would not otherwise be available.
    access
  11. 4 strategies of global business development (CSVO)
    • 1. Companies operate in one country and sell in others
    • 2. Set up foreign subsidiaries to handle sales
    • 3. Virtual operation
    • 4. Operate an entire line of business in another country
  12. Production of uniform products that can be sold the same way all over the world.
    Global marketing standardization
  13. Subsidiaries of multinational firms are allowed to compete independently in domestic markets.
    Multidomestic strategy
  14. 5 parts of the external environment facing global markets. (ECPND)
    • 1. Economic development
    • 2. Culture
    • 3. Political structure
    • 4. Natural resources
    • 5. Demographic makeup
  15. The common set of values shared by its citizens that determine what is socially acceptable.
    Culture
  16. 3 factors to keep in mind when dealing with different cultures. (LCV)
    • 1. Language/idioms
    • 2. Customs/traditions
    • 3. Values/expectations of sales presentations
  17. Understanding and forecasting growth and demand globally requires...
    understanding countries around the world.
  18. 3 facts on India and China. (HLHE)
    • 1. Highest growth rates
    • 2. Largest populations
    • 3. Highest-level income disparities
    • 4. Exploded in spending power
  19. A tax levied on goods entering a country.
    Tarriff
  20. Limit on the amount of a product entering a country.
    Quota
  21. Exclusion of products froma country.
    Boycott
  22. Foreign exchange must be sold to a control agency.
    Exchange control
  23. Common trade alliance.
    Market grouping
  24. An agreement to stimulate international trade.
    Trade agreement
  25. 3 marketing considerations for demographic makeup. (PUA)
    • 1. Population density
    • 2. Urban or rural
    • 3. Age
  26. Shortages in natural resources create... (ISIES)
    • 1. International dependencies
    • 2. Shifts of wealth
    • 3. Inflation and recession
    • 4. Export opportunities
    • 5. Stimulus for military intervention
  27. 6 reasons to go global. (AUESEE)
    • 1. Additional profits
    • 2. Unique product/technological advantage
    • 3. Exclusive market information
    • 4. Saturated domestic markets
    • 5. Excess capacity
    • 6. Economies of scale
  28. Sell domestically produced products to buyers in other countries.
    Export
  29. Legal process allowing use of manufacturing/patents/knowledge.
    Licensing/Franchising
  30. Private-label manufacturing by a foreign country.
    Contract manufacturing
  31. Domestic firm buys/joins a foreigncompany to create new entity.
    Joint venture
  32. Active ownership of a foreign company/manufacturing facility.
    Direct investment
  33. Assumes all ownership risks and sells globally for its own account.
    Buyer for export
  34. Plays the traditional broker’s role by bringing buyer and seller together.
    Export broker
  35. Acts like a manufacturer’s agent for the exporter in the foreign market.
    Export agent
  36. 3 export intermediaries. (BEE)
    • 1. Buyer for export
    • 2. Export broker
    • 3. Export agent
  37. The first step in creating a marketing mix is developing a thorough understanding of the...
    global target market.
  38. The sale of an exported product at a price lower than that charged for the same or a like product in the “home” market of the exporter.
    Dumping
  39. 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.
    Countertrade
  40. 3 reasons global marketers use social media. (ITF)
    • 1. It's popular
    • 2. To understand customers
    • 3. For global brand building
  41. Opening an e-commerce site puts a company in the...
    international marketplace.
  42. The Internet-based economy remains hindered by... (BRH)
    • 1. Brick and mortar rules
    • 2. Regulations
    • 3. Habits
  43. Dumping may occur as a result of exporter business strategies that include... (IDLM)
    • 1. Increasing overseas market share
    • 2. Distributing products to overseas markets
    • 3. Lowering unit costs
    • 4. Maintaining stable prices during fluctuations
  44. Reflects he price of one’s currency in terms of another country’s currency.
    Exchange rates
  45. Comprises a system in which prices of different currencies move up and down based on the demand for and the supply of each currency.
    Floating exchange rates

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