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Exam 3 Handlin
chapter 6
19
Marketing
Undergraduate 2
10/15/2013

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Term
protectionism
Definition
the practice of shielding one or more industries within a countrys economy from 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
quota
Definition
a restriction placed on the amount of a product allowed to enter or leave a country
Term
world trade organization
Definition
institution that sets rules governing trade between its members through a panel of trade experts
Term
global competition
Definition
exists when firms originate, produce, and market their products and services worldwide
Term
multidomestic marketing strategy
Definition
a multinational firms strategy of offering as many different product variations, brand names, and advertising programs as countries in which it does business
Term
global marketing strategy
Definition
the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ
Term
global brand
Definition
a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs
Term
global consumers
Definition
consumer groups living around the world who have similar needs or seek similar benefits from products or services
Term
cross cultural analysis
Definition
the study of similarities and differences among consumers in two or more nations or societies
Term
values
Definition
a societys personally or socially preferable modes of conduct or states of existence that tend to persist over time
Term
customs
Definition
norms and expectations about the way people do things in a specific country
Term
foreign corrupt practices act (1977)
Definition
a law that makes it a crime for US corporations to bribe an official of a foreign government or political party to obtain or retain business
Term
cultural symbols
Definition
things that represent ideas or concepts in a specific culture
Term
back translation
Definition
retranslating a word or phrase back into the original language using a different interpreter to catch errors
Term
microfinance
Definition
the practice of offering small, collateral-free loans to individuals who otherwise would not have access to the capitol necessary to begin small businesses or other income-generating activities
Term
currency exchange rate
Definition
the price of one countrys currency expressed in terms of another countrys currency
Term
exporting
Definition
producing goods in one country and selling them in another country
Term
joint venture
Definition
when a foreign company and a local firm invest together to create a local business, sharing ownership, control, and the profits of the new company
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