Term
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Definition
| Marketing domestically produced goods and services in foreign countries |
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Term
| North American Free Trade Agreement (NAFTA) |
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Definition
| Accord that removes trade barriers among the United States, Canada, and Mexico |
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Term
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Definition
| Domestic purchasing of foreign-produced goods, services, and raw materials |
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Term
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Definition
| A nation's basic system of communications networks, transportation networks, and energy facilities |
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Term
| Free Trade Area of the Americas |
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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 |
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Term
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Definition
| Price of one nation's currency in terms of other countries’ currencies |
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Term
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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 |
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Term
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Definition
| Tax levied on imported products |
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Term
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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 |
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Term
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Definition
| Trade restriction that limits the number of units of certain goods that can enter a country for resale |
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Term
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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 |
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Term
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Definition
| Region in which participating nations agree to the free trade of goods among themselves, abolishing tariffs and trade restrictions |
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Term
| multinational corporation |
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Definition
| Firm with significant operations and marketing activities outside its home country |
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Term
| General Agreement on Tariffs and Trade (GATT) |
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Definition
| International trade agreement that has helped reduce world tariffs |
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Term
| global marketing strategy |
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Definition
| Standardized marketing mix with minimal modifications that a firm uses in all of its domestic and foreign markets |
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Term
| multidomestic marketing strategy |
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Definition
| Program of market segmentation that identifies specific foreign markets and tailors the marketing mix to match specific traits in each nation. |
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Term
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Definition
| Organization that replaces GATT and oversees trade agreements, makes binding decisions in mediating disputes, and strives to reduce trade barriers |
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Term
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Definition
| Form of exporting whereby products and services are bartered rather than sold for cash |
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