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| A group's refusal to deal comercially with soorganization to protest against its policies |
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| Trade goods between two countries where goods are traded for other goods and not for hard currency |
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| The belief that one's own culture is superior to that of other nations; can take the form of an active, formal policy or a more subtle general attitude |
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| When a firm maintains 100 percent ownership of its plants, operation facilities, and offices in a foreign country, often through the formation of wholly owned subsidaries |
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| The pracctice of selling a good in a foreign market at a price that is lower than its domestic price or below its cost |
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| Tariff or fee levied against a product being brought into a country |
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| Include, but not limited to, the excessive use of natural resources and energy, refuse from manufacturing processes, excess trash created by consumer goods packages, and hard-to-dispose-of products like tires, cell phones, and computer monitors |
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| Refers to regulations of a country's currency exchange rate |
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| Refers to regulations of a country's currency exchange rate |
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| The measure of how much one currency is worth in relation to another |
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| The measure of how much one currency is worth in relation to another |
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| Producing goods in one country and selling them in another |
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| One who runs/operates or takes part in a Franchise |
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| A contratual agreement between a franchisor that allows the framnchisee to operate a business using a name and format developed and supported by the Franchisor |
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| One who develops and sells the Franchise |
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| General Agreement on Tariffs and Trade(GATT) |
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| Organization established to lower trade barriers, such as high tariffs on imported goods and restrictions on the number and types of imported products that inhibited the free flow of goods across borders |
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| Includes concerns about working conditions and wages paid to factory workers in developing countries |
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| Refers to the process by which goods, services, capital, people, information, and ideas flow across national borders |
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| Globalization of Production |
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| AKA offshoring; refers to manufacturers's procurement of goods and services from around the globe to take advanmtage of national differences in the cost and quality of various factors of production (labor, energy, land, capital) |
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| Gross Domestic Product (GDP) |
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| Defined as the market value of the goods and services produced by a country in a year; the most widely used standardized measure of output |
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| Consists of GDP plus the net income earned from investments abroad(minus any payments made to nonresidents who contribute to the domestic economy) |
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| Human Development Index (HDI) |
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| A Composite measure of three indicators of the quality of life in different countries: Life expectancy at birth, educational attainment, and wheteher the average incomes are sufficient to meet the basic needs of life in that country |
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| The basic facilities, services, and instaliations needed for a communtiy or society to function, such as transportation and communications systems, water and power lines, and public institutuions like schools, post offices and prisions |
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| International Monetary Fund (IMF) |
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| Established wiht the original General Agreement of Tariffs and Trade (GATT);Primary purppose is to promote international monetary cooperation and facilitate the expansion and growth of international trade |
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| Formed when a firm entering a new market pools its resources with those of a local firm to form a new company in which ownership, control, and profits are shared |
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| When work that can be done in country is sent out of country because it is usually cheaper to do so |
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| A theory that states if the exchange rates of two countries are in equilibrium, a product purchased in one will cost the same in the other, expressed in the same currency |
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| Designates the maximum quantity of a product that may be brought into a country during a specified time period |
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| A collaborative relationship between independent firms, though the partnering firms do not create an equity partnership; that is, they do not invest in each other |
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| A tax levied on a good imported into a country; also called a duty |
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| Intergovernmental agreements designed to manage and promote trade activities for specific regions |
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| Results when a country imports more goods than it exports |
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| Firms would prefer to manufacture in a country that has a trade surplus, or a higher level of exports that imports because it signals a greater opportunity to export products to more markets |
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| Consists of countries that have a signed a particular trade agreement |
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| A development bank that provides loans, policy advice, technical assistance, and knowledge-sharing services to low-and middle- income countries in an attempt to reduce poverty in the developing world |
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| World Trade Organization (WTO) |
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Definition
| Replaced the GATT in 1994; differs from the GATT in that the WTO is an establlished institution and based in Geneva, Switzerland, instead of simply and agreement; represents the only international organization that deals with the global rules of trade among nations |
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| Concentrated Segmentation Strategy |
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Definition
| A MArketing Strategy of selecting a single, primary target market and focusing all energioes on providing a product to fit that market's needs |
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| The grouping of consumers on the basis of the benefits they derive from products or services |
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| The grouping of consumers according to easily measured, objective characteristics such as age, gender, income, and education |
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| Differentiated Segmentation Strategy |
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| A strategy through which a firm targets several market segments with a different offering for each |
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| Geodemographic Segmentation |
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| The grouping of consumers on the basis of a combination of geographic, demographic, and lifestyle charactersitics |
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| The grouping of consumers on the basis of where they live |
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| The point at which a particular market segment's ideal product would lie on a perceptual map |
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| A component of psychographics; referss to the way a person lives his or her life to achieve goals |
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| Stratgey of investing in loyalty initiatives to retain the firm's most profitable customers |
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| The practice of interacting on a one-on-one basis with many people to create sutom-made products or services; providing one-to-one marketing to the masses. |
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| The practice of interacting on a one-on-one basis with many people to create custom-made products or services; providing one-to one martketing for the masses |
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| An extreme form of segmentation that tailors a product of service to suit an individual customer's wants or needs; also called one-to-one marketing |
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| Displays, in two or more dimensions, the position of products or brands in the consumer's mind |
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| Used in segmentation; delves into how consumers describe themselves; allows people to describe themselves using those characteristics that hep them choose how they occupy their time (behavior) and what underlying psychological reasons determine those choices |
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| The image a person has of him or herself; a component of psychographics |
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| Goals for life, not just the goals one wnats to accomplish in a day; a componenet of psychographics that refers to overriding desires that drive how a person lives his or her life |
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| Undiferentiated Segmentation Strategy (Mass Marketing) |
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| A marketing strategyu firms can use if the product or service is percieved to provide the same benefits to everyone with no need to develop seperate strategies for different groups |
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| Value and lifestyle survey (VALS) |
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Definition
| A psychogrpahic tool dveloped by SRI consulting Business Intelligence; classifies consumers into eigh segments: innovators thinkers, believers, achievers, strivers, experieners, makers, or survivors |
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