Term
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Definition
| A firm that, by operating in more than one country, gains R& D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors. p 553 |
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Term
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Definition
| A group of nations organized to work toward common goals in the regulation of international trade. p 555 |
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Term
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Definition
| Entering foreign markets by selling goods produced in the company’s home country, often with little modification. p 563 |
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Term
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Definition
| Entering foreign markets by joining with foreign companies to produce or market a product or service. p 564 |
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Term
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Definition
| Entering foreign markets through developing an agreement with a licensee in the foreign market. p 564 |
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Term
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Definition
| A joint venture in which a company contracts with manufacturers in a foreign market to produce its product or provide its service. p 564 |
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Term
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Definition
| A joint venture in which the domestic firm supplies the management know- how to a foreign company that supplies the capital; the domestic firm exports management services rather than products. p 564 |
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Term
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Definition
| A cooperative venture in which a company creates a local business with investors in a foreign market, who share ownership and control. p 565 |
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Term
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Definition
| Entering a foreign market by developing foreign- based assembly or manufacturing facilities. p 565 |
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Term
| Standardized global marketing |
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Definition
| An international marketing strategy that basically uses the same marketing strategy and mix in all of the company’s international markets. p 566 |
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Term
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Definition
| An international marketing approach that adjusts the marketing strategy and mix elements to each international target market, which creates more costs but hopefully produces a larger market share and return. p 566 |
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Term
| Straight product extension |
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Definition
| Marketing a product in a foreign market without making any changes to the product. p 569 |
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Term
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Definition
| Adapting a product to meet local conditions or wants in foreign markets. p 569 |
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Term
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Definition
| Creating new products or services for foreign markets. p 569 |
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Term
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Definition
| A global communication strategy of fully adapting advertising messages to local markets. p 570 |
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Term
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Definition
| Designing international channels that take into account the entire global supply chain and marketing channel, forging an effective global value delivery network. p 571 |
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