Term
| Name the (4) sets of factors often used to assess a country's market |
|
Definition
PEST
1. Political/legal
2. Economic
3. Sociocultural
4. Technological |
|
|
Term
| Name (7) factors to consider when analyzing the political and legal environment of global markets |
|
Definition
1. Trade sanctions: penalties or restrictions imposed by one country over another with respect to importing and exporting
2. Tariffs: tax levied on goods imported into a country
3. Quotas: designates maximum quantity of a product that my be brought into a country
4. Boycott
5. Exchange control: regulation of a country's exchange rate
6. Trade agreements: an agreement designed to manage and promote trade activities for a specific region (NAFTA, EU, etc)
7. Political risk analysis |
|
|
Term
| Name (3) factors that should be evaluated with analyzing the economic environment |
|
Definition
1. General economic environment (trade deficit, trade surplus, GDP)
2. Market size and population growth
3. Real income |
|
|
Term
| Name (5) different ways in which culture differs |
|
Definition
1. Power distance
2. Uncertainty avoidance
3. Individualism
4. Masculinity
5. Time orientation |
|
|
Term
| Name the (4) key elements to a company's infrastructure |
|
Definition
1. Transportation
2. Distribution
3. Communication
4. Commerce |
|
|
Term
| Name (5) different approaches to entering a new market |
|
Definition
1. Exporting
2. Franchising
3. Strategic alliance: relationship between firms, though the partnering firms to dot invest in one another
4. Joint venture: firms pool their ownership, control, and profits - also share market information
5. Direct investment: 100% ownership |
|
|
Term
| Name the (2) steps to choosing a global marketing strategy |
|
Definition
1. Find a target market
2. Create global marketing mix |
|
|
Term
| Name (3) ethical issues in global marketing |
|
Definition
1. Environmental concerns
2. Global labour issues
3. Impact on host country culture |
|
|
