BUS103 7

  1. service industry
    steady growth, nearly 90 percent working in services. 
  2. international socio cultural environment
    include language, education, religious attitudes, and social values.
  3. tariff
    tax levied against imported goods, continually negotiated. Revenue tariffs (funds for imorting gov), protective tariffs (to make imported as much or more than domestic)
  4. NAFTA
    removed trade barriers between canada, mexico, and us. not political but economic cooperation. 
  5. franchise
    contractual arrangement in which one agrees to meet operating requirements of other
  6. foriegn licensing
    agreement that grants foriegn marketers right to distribute a firms merchandise or to use its tm, patent or process in specific areas
  7. subcontracting
    contractual agreements that assign the productionof a good or service to local or smaller firms
  8. global marketing strategy
    standardizing marketing mix with minimal modifications that a firm ises in all domestic and foriegn markets
  9. multidomestic marketing strategy
    application of market segmentation to foriegn markets by tailoring the firms marketing mix to meet speciifc target markets in each nation
  10. international product and promotion strategy
    • straight extension - permits economies of scale
    • promotion adaptation - adapt for cultural differences
    • product adaptation - tweak to fit new market
    • dual adaptation - both prduct and promotion
    • product invention - take advantage of unique foriegn market opportunities
Card Set
BUS103 7
Chapter 7