Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
17 Cards in this Set
- Front
- Back
countertrade
|
Form of exporting whereby goods and services are bartered rather than sold for cash.
|
|
European Union (EU)
|
Customs union that is moving in the direction of an economic union by adopting a common currency, removing trade restrictions, and permitting free flow of goods and workers throughout the member nations.
|
|
exporting
|
Marketing domestically produced goods and services in foreign countries.
|
|
foreign licensing
|
Agreement that grants foreign marketers the right to distribute a firm’s merchandise or to use its trademark, patent, or process in a specified geographic area.
|
|
franchise
|
Contractual arrangement in which a wholesaler or retailer agrees to meet the operating requirements of a manufacturer or other franchiser.
|
|
free trade area
|
Region in which participating nations agree to the free trade of goods among themselves, abolishing tariffs and trade restrictions.
|
|
Free Trade Area of the Americas (FTAA)
|
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.
|
|
General Agreement on Tariffs and Trade (GATT)
|
International trade accord that has helped reduce world tariffs.
|
|
global marketing strategy
|
Standardized marketing mix with minimal modifications that a firm uses in all of its domestic and foreign markets.
|
|
import quotas
|
Trade restrictions that limit the number of units of certain goods that can enter a country for resale.
|
|
importing
|
Purchasing foreign goods, services, and raw materials.
|
|
infrastructure
|
Nation’s basic system of transportation networks, communications systems, and energy facilities.
|
|
multidomestic marketing strategy
|
Application of market segmentation to foreign markets by tailoring the firm’s marketing mix to match specific target markets in each nation.
|
|
multinational corporation
|
Firm with significant operations and marketing activities outside its home country.
|
|
North American Free Trade Agreement (NAFTA)
|
Accord removing trade barriers among Canada, Mexico, and the United States.
|
|
tariff
|
Tax levied against imported goods.
|
|
World Trade Organization (WTO)
|
Organization that replaces GATT, overseeing GATT agreements, making binding decisions in mediating disputes, and reducing trade barriers.
|