Details Title: AUM MKTG 3310D - CH 3 Part 2 Description: Chapter 3 Vocabulary (part 2) Total Flash Cards: 21 Created: 09/03/2008 21:03:47		New Users: To study from this flashcard set, or to create your own your own study flash cards, REGISTER HERE. Existing Users: CLICK HERE. Additional Marketing Flashcards
Cards in this set: Term Local content rules Definition A form of protectionism stipulating that a certain proportion of a product most consist of components supplied by industries in the host country or economic community. Term Demographics Definition Statistics that measure observable aspects of a population, including size, age, gender, ethnic group, income, education, occupation, and family structure. Term Cultural values Definition A society's deeply helpd beliefs about right and wrong ways to live. Term Collectivist cultures Definition Cultures in which people subordinate their personal goals to those of a stable community. Term Individualist cultures Definition Cultures in which people tend to attach more important to personal goals than to those of the larger community. Term Norms Definition Specific rules dictating what is right or wrong, acceptable, or unacceptable. Term Custom Definition A norm handed down from the past that controls basic behaviors. Term Mores Definition Customers with a strong moral overtone. Term Conventions Definition Norms regarding the condut of everyday life. Term Ethnocentrism Definition The tendency to prefer products or people of one's own culture. Term Export merchants Definition Intermediaries used by a girm to represent them in other countries. Term Licensing agreement (in foreign markets) Definition An agreement in which one firm gives another firm the right produce and market its product in a specific country or region in return for royalities. Term Franchising Definition A form of licensing involving the right to adapt an entire system of doing business. Term Strategic alliance Definition Relationship developed between a firm seeking deeper commitment to a foreign market and a domsetic firm in the target country. Term Joint venture Definition A strategic alliance in which a new entity owned by two or more firms is created to allow the partners to pool their resources for common goals. Term Born-global firms Definition Companies that try to sell their products in multiple countries from the moment they're created. Term Straight extension strategy Definition Product strategy in which a firm offers the same product in both domestic and foreign markets. Term Product adaptation strategy Definition Product strategy in which a firm offers a similar but modified product in foreign markets. Term Product invention strategy Definition Product strategy in which a firm develops a new product for foegin markets. Term Gray market goods Definition Items manufactured outside a country and then imported without the consent of the trademark holder. Term Dumping Definition A company tries to get a toehold in a goeign market by pricing its products lower than they are offered at home.