Term
Name the (4) sets of factors often used to assess a country's market |
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Definition
PEST
1. Political/legal 2. Economic 3. Sociocultural 4. Technological |
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Term
Name (7) factors to consider when analyzing the political and legal environment of global markets |
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Definition
1. Trade sanctions: penalties or restrictions imposed by one country over another with respect to importing and exporting 2. Tariffs: tax levied on goods imported into a country 3. Quotas: designates maximum quantity of a product that my be brought into a country 4. Boycott 5. Exchange control: regulation of a country's exchange rate 6. Trade agreements: an agreement designed to manage and promote trade activities for a specific region (NAFTA, EU, etc) 7. Political risk analysis |
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Term
Name (3) factors that should be evaluated with analyzing the economic environment |
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Definition
1. General economic environment (trade deficit, trade surplus, GDP) 2. Market size and population growth 3. Real income |
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Term
Name (5) different ways in which culture differs |
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Definition
1. Power distance 2. Uncertainty avoidance 3. Individualism 4. Masculinity 5. Time orientation |
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Term
Name the (4) key elements to a company's infrastructure |
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Definition
1. Transportation 2. Distribution 3. Communication 4. Commerce |
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Term
Name (5) different approaches to entering a new market |
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Definition
1. Exporting 2. Franchising 3. Strategic alliance: relationship between firms, though the partnering firms to dot invest in one another 4. Joint venture: firms pool their ownership, control, and profits - also share market information 5. Direct investment: 100% ownership |
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Term
Name the (2) steps to choosing a global marketing strategy |
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Definition
1. Find a target market 2. Create global marketing mix |
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Term
Name (3) ethical issues in global marketing |
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Definition
1. Environmental concerns 2. Global labour issues 3. Impact on host country culture |
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