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Details Title: Marketing Chap 4 Description: Marketing Chap 4 Total Flash Cards: 18 Created: 02/24/2007 14:14:33	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Exporting Definition Marketing domestically produced goods and services in foreign countries Term North American Free Trade Agreement (NAFTA) Definition Accord that removes trade barriers among the United States, Canada, and Mexico Term importing Definition Domestic purchasing of foreign-produced goods, services, and raw materials Term infrastructure Definition A nation's basic system of communications networks, transportation networks, and energy facilities Term Free Trade Area of the Americas Definition Proposed free trade area stretching the length of the entire Western Hemisphere and designed to extend free trade benefits to additional nations in North, Central, and South America Term exchange rate Definition Price of one nation's currency in terms of other countries’ currencies Term European Union Definition Customs union moving in the direction of economic union by adopting a common currency, removing trade restrictions, and allowing free flow of goods and labor throughout its membership Term tariff Definition Tax levied on imported products Term franchise Definition Contractual arrangement in which a wholesaler or retailer agrees to make some payment and to meet the operating requirements of a manufacturer or other business in return for the right to market the manufacturer’s or other business’s goods or services under its brand name Term import quota Definition Trade restriction that limits the number of units of certain goods that can enter a country for resale Term foreign licensing Definition Agreement by which a firm permits a foreign company to produce or distribute goods in a foreign country or gives it the right to use the firm's trademark, patent, or processes in a specified geographical area Term free-trade area Definition Region in which participating nations agree to the free trade of goods among themselves, abolishing tariffs and trade restrictions Term multinational corporation Definition Firm with significant operations and marketing activities outside its home country Term General Agreement on Tariffs and Trade (GATT) Definition International trade agreement that has helped reduce world tariffs Term global marketing strategy Definition Standardized marketing mix with minimal modifications that a firm uses in all of its domestic and foreign markets Term multidomestic marketing strategy Definition Program of market segmentation that identifies specific foreign markets and tailors the marketing mix to match specific traits in each nation. Term World Trade Organization Definition Organization that replaces GATT and oversees trade agreements, makes binding decisions in mediating disputes, and strives to reduce trade barriers Term counter trade Definition Form of exporting whereby products and services are bartered rather than sold for cash