Term
|
Definition
| Marketing that targets markets throughout the world |
|
|
Term
|
Definition
| Recognizing and reacting to the international marketing opportunities, using effective global marketing strategies, and being aware of threats from foriegn competitors in all markets |
|
|
Term
| Multinational Corporation |
|
Definition
| A company that is heavily engaged in international trade, beyond exporting and importing |
|
|
Term
|
Definition
| Using more capital than labor in the production process |
|
|
Term
| Global Marketing Standardization |
|
Definition
| production of uniform products that can be sold the same way all over the world |
|
|
Term
|
Definition
| The largest Latin American trade agreement; includes Argentina, Bolivia, Brazil, Chile Columbia, Ecuador, Paraguay, Peru and Uruguay |
|
|
Term
|
Definition
| An agreement to dramatically lower trade barriers worldwide; created the World Trade Organization |
|
|
Term
| World Trade Organization (WTO) |
|
Definition
| A trade organization that replaced the old General Agreement of Tariffs and Trade (GATT) |
|
|
Term
| North American Free Trade Agreement (NAFTA) |
|
Definition
| an agreement between Canada, the US, and Mexico that created the world's largest free trade zone. |
|
|
Term
| General Agreement on Tariffs and Trade (GATT) |
|
Definition
| a trade agreement that contained loopholes that enabled countries to avoid trade-barrier reduction agreements |
|
|
Term
|
Definition
| A free trade zone encompassing 27 European countries |
|
|
Term
|
Definition
| An international bank that offers low-interest loans, advice, and information to developing nations |
|
|
Term
| International Monetary Fund (IMF) |
|
Definition
| An international Organization that acts as a lender of last resort, providing lonas to troubled nations, and also works to promote trade through financial cooperation |
|
|
Term
|
Definition
| Selling domestically produced products to buyers in another country |
|
|
Term
|
Definition
| An intermediary in the global market that assumes all ownership risks and sells globally for its own account |
|
|
Term
|
Definition
| An intermediary who plays the traditional broker's role by bringing buyer and seller together |
|
|
Term
|
Definition
| an intermediary who acts like a manufacturer's agent for the exporter. The export agen lives in the foreign market. |
|
|
Term
|
Definition
| the legal process whereby a licensor agrees to let another firm use its manufacturing process, trade marks, patents, trade secrets, or other propietary knowledge |
|
|
Term
|
Definition
| private-label manufacturing by a foreign company |
|
|
Term
|
Definition
| When a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity |
|
|
Term
| Direct Foreign Investment |
|
Definition
| Activity ownership of a foriegn company or of overseas manufacturing or marketing facilities |
|
|
Term
|
Definition
| Prices of different currencies move up and down based on the demand for the suppy of each currency |
|
|
Term
|
Definition
| The sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter |
|
|
Term
|
Definition
| A form of trade in which all or part of the payments for goods or services is in the form of other goods or services. |
|
|
Term
| Having a global vision means ... |
|
Definition
1. Recognizing and reacting to internanational mareting opportunites
2. Using effective global marketing strategies
3. Being aware of threats from foriegn competitors |
|
|
Term
| The 5 challenges Executives expect to meet to achieve success in emerging markets (EM) |
|
Definition
1. To deliver differnt product offerings that meet the uniqu needs of new Em customers. In many cases at dramatically lower price points than in developed marktes.
2. to locate R&D facilities in EM to acquire deeper customer knowledge, and to build, market, and distribute tailored products.
3. To rethink how effectively recruit, develop, and connect people globally
4. Provide autonomy at the local level, while leveraging the strenghts of their established management know-how
5. to detect, correct, and manage risks presented by EM, such as the prtrection of intellectual property |
|
|
Term
| Benefits of Globalization |
|
Definition
1. Expands economic freedom
2. Suprs competition
3. Raises productivity and living standards
4. offers acess to foreign capital, global export markets, and advanced technology
5. Promotes higher labor and enviromental standards
6. Acts as a check on government power |
|
|
Term
| Traditional economic theory says that: |
|
Definition
| Globalization relies on competition to drive down prices and increase product and service quality. Business goes to the coutries that opearte most efficiently and have the technology to produce what is needed. labor is cheaper in many countries. |
|
|
Term
| 7 Macro trends Driving the Globalization Process |
|
Definition
1. Reduction of barriers to trade and investment
2. Regional trade agreements and economic blocs
3. market liberalization and privatization
4. integration of world financial markets
5. Transportation and communication technology
6. information technology
7. Industrialization, academic development, and modernization |
|
|
Term
|
Definition
1. Government Drivers
2. Competitive Drivers
3. Cost Drivers
4. Market Drivers |
|
|
Term
|
Definition
1. Reduction of barriers to trade and investment.
2. Regional trading blocs
3. Market liberalization and privatization |
|
|
Term
|
Definition
| 4. Integration of financial markets |
|
|
Term
|
Definition
5. Transportation and communication technology
6. Information technology |
|
|
Term
|
Definition
| 7. Industrialization, economic development, and modernization. |
|
|
Term
| Globalization Challenges for companies |
|
Definition
* Intensifed worldwide competion
* Excess capacity; industry consolidation
* Rapid technological change
*Need to rationalize global supply chain
*Need to integrate worldwide activities |
|
|
Term
| Globalization opportunities for companies: |
|
Definition
* Expanded opportunities in a "borderless" world
* Increased acceptance of global brands
*Scale of economies and rationalization
* Improved Market acess, speed, and connectivity
* Learning from global partners |
|
|
