Term
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Definition
| practice of using barter rather than money for making global sales |
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Term
| gross domestic product (GDP) |
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Definition
| the monetary value of all goods and services produced in a country during one year |
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Term
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Definition
| The difference between the monetary value of a nation's exports and imports |
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Term
| Factor conditions (Michael Porter) |
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Definition
| a nation's ability to turn its natural resources, education, and infrastructure into a competitive advantage |
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Term
| Demand conditions (Michael Porter) |
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Definition
| the number and sophistication of domestic customers for an industry's product |
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Term
| Related and supporting industries (Michael Porter) |
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Definition
| Firms and industries seeking leadership in global markets need clusters of world-class suppliers that accelerate innovation |
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Term
| Company strategy, structure, and rivalry (Michael Porter) |
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Definition
| conditions governing the way a nation's businesses are organized and managed, along with the intensity of domestic competition |
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Term
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Definition
| practice of shielding one or more industries within a country's economy from foreign competition through the use of tariffs or quotas |
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Term
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Definition
| government tax on goods or services entering a country |
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Term
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Definition
| restriction placed on the amount of a product allowed to enter or leave a country |
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Term
| World Trade Organization (WTO) |
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Definition
| permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions |
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Term
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Definition
| when firms originate, produce, and market their products and services worldwide |
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Term
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Definition
| agreements among two or more independent firms to cooperate for the purpose of achieving common goals such as a competitive advantage or customer value creation |
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Term
| multidomestic marketing strategy |
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Definition
| have many different product variations, brand names, and advertising programs as countries in which they do business |
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Term
| global marketing strategy |
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Definition
| the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ |
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Term
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Definition
| a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs |
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Term
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Definition
| consumer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products or services |
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Term
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Definition
| the study of similarities and differences among consumers in two or more nations or societies |
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Term
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Definition
| personally or socially preferable modes of conduct or states of existence that tend to persist over time |
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Term
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Definition
| normal and expected about the way people do things in a specific country |
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Term
| Foreign Corrupt Practices Act (1977) |
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Definition
| make it a crime for U.S. corporations to bribe an official of a foreign government or political party to obtain business in a foreign country |
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Term
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Definition
| represent ideas and concepts |
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Term
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Definition
| role of symbols that a field of study |
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Term
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Definition
| translated word or phrase is retranslated into the original language by a different interpreter to catch errors |
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Term
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Definition
| tendency to believe that is it inappropriate to purchase foreign-made products |
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Term
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Definition
| largest, but poorest socioeconomic group of people in the world |
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Term
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Definition
| a country's communications, transportation, financial, and distribution systems |
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Term
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Definition
| the practice of offering small, collateral-free loans to individuals who otherwise would not have access to the capital necessary to begin small businesses or other income-generating activities |
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Term
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Definition
| the price of one country's currency expressed in terms of another country's currency |
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Term
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Definition
| producing goods in one country and selling them in another country |
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Term
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Definition
| when a foreign company and a local firm invest together to create a local business |
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Term
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Definition
| entails a domestic firm actually investing in and owning a foreign subsidiary or division |
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Term
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Definition
| when a firm sells a product in a foreign country below its domestic price or below its actual cost |
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Term
| Gray market (parallel importing) |
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Definition
| a situation where products are sold through unauthorized channels of distribution |
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Term
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Definition
| process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions |
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Term
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Definition
| act of consciously choosing from alternatives |
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Term
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Definition
| provides ideas about a relatively vague problem |
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Term
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Definition
| involves trying to find the frequency that something occurs or the extent of a relationship between two factors |
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Term
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Definition
| tries to determine the extent to which the change in one factor changes another one |
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Term
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Definition
| criteria or standards used in evaluating proposed solutions to the problem |
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Term
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Definition
| the restrictions placed on potential solutions to a problem |
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Term
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Definition
| ideas about products or services |
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Term
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Definition
| a picture or verbal description of a product or service the firm might offer for sale |
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Term
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Definition
| the approaches that can be used to collect data to solve all or part of a problem |
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Term
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Definition
| a technique to select a group of distributors, customers, or prospects and treating the information they provide as typical to all those in whom they are interested |
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Term
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Definition
| generalizes the results from the sample to much larger groups of distributors, customers, or prospects to help decide on marketing actions |
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Term
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Definition
| facts and figures related to the problem |
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Term
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Definition
| facts and figures that have already been recorded before the project at hand |
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Term
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Definition
| facts and figures that are newly collected for the project |
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Term
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Definition
| facts and figures obtained by watching, either mechanically or in person, how people actually behave |
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Term
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Definition
| a specialized observational approach in which trained observers seek to discover subtle behavioral and emotional reactions as consumers encounter products in their "natural use environment" |
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Term
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Definition
| facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors |
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Term
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Definition
| researchers ask lengthy, free-flowing kinds of questions to probe for underlying ideas and feelings |
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Term
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Definition
| allows respondents to express opinions, ideas, or behaviors in their own words |
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Term
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Definition
| requires respondents to to select one or more responses options from a set of predetermined choices |
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Term
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Definition
| allows only a yes or no response |
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Term
| semantic differential scale |
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Definition
| a five-point scale in which the opposite ends have one or two-word adjectives that have opposite meanings |
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Term
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Definition
| the respondent indicates the extent to which he or she agree or disagrees with a statement |
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Term
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Definition
| a sample of consumers or stores from which researchers take a series of measurements |
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Term
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Definition
| obtaining data by manipulating factors under tightly controlled conditions to test cause and effect |
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Term
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Definition
| involves operating computer networks that can store and process data |
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Term
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Definition
| the extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions |
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Term
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Definition
| the total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing effort |
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Term
| survey of buyers' intentions forecast |
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Definition
| involves asking prospective customers if they are likely to buy the product during some future time period |
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Term
| salesforce survey forecast |
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Definition
| involves asking the firm's salespeople to estimate sales during a coming period |
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