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Marketing Chapter 7
The Core Marketing Textbook 4e
22
Marketing
Undergraduate 1
10/22/2011

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Term
Back Translation 
Definition
Retranslatign a word or phrase back into the orginal language using a different interpreter to catch errors. 
Term
Cross-Culural anaylsis 
Definition
The study of similarites and differences among consumers in two or more nations or societies 
Term
Cutural symbols 
Definition
Things that represent ideas or concepts in a specific culture 
Term
Currency Exchange rate 
Definition
The price of one country's currency expressed in terms of another country's currency 
Term
Customs 
Definition
Norms and expectations about the way people do things in a specific country 
Term
Direct investment 
Definition
When a domestic firm actually invest in a owns a foreign subsidiary or division 
Term
Dumping 
Definition
When a firm sells a product in a foreign country below its dometic price or below its actual costs 
Term
Exporting 
Definition
Producing goods in one country and selling them in another country 
Term
Foreign Corrupt Practices Act 
Definition
A law that makes it a crime for U.S corporation to bribe an official of a foreign government or political party to obtian or retian business 
Term
Global Brand 
Definition
A brand marketed under the same name in muliple countries with similar and centrally coordinated marketing programs
Term
Global competition 
Definition
Exists when firms orignates produce and market their products and services worldwide
Term
Global Consumers 
Definition
Consumer groups living around the world who have similar needs to seek similar benfits from products or services 
Term
Global marketing strategy 
Definition
The practice of standardizing marketing activities when there are cultural similarites and adapting them when cultures differ 
Term
Gray market 
Definition
a situation in which products are sold through unauthoritized channels of distributions 
Term
Joint Venture 
Definition
When a foreign company and a local firm invest together to create a local business, sharing ownwership, control and the profits of teh new company 
Term
Mulitdomestic marketing strategy 
Definition
A multinational firm's strategy of offering as many different product variations, brand names, and advertising programs as countries in which it does business 
Term
Quota 
Definition
A restrictions placed on amount of a product allowed to enter into a country 
Term
Protectionism 
Definition
The practices of shielding one or more industries within a country's economy form foreign competition through the use of tariffs or quotas. 
Term
Tariff 
Definition
A government tax on goods or services entering a country, primarily serving to raise prices on imports 
Term
Values
Definition
Term
World Trade Organization
Definition
Insitution that sets rules govering trade between its members through a panel of trade experts 
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