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Is the practive of shielding one ore more industries within a country's economy from foreign competition through the use of tariffts or quotas
Protectionism
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A_____is a government tax on goods or services entering a country, primarily serving to raise prices on imports.
Tariff
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A____is a restriction placed on the amount of a product allowed to enter or leave a country
Quota
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The_______is a permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions.
World Trade Organization (WTO)
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Exists when firms originate, produce, and markey their products and services worldwide.
Global competition
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A ____ involves a multinational firm offering as many different product variations, brand names, and advertising programs as countries in which they do business.
Multidomestic Marketing Strategy
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A ____ is the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
Global Marketing Strategy
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A ___ is a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs
Global Brand
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are consumer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products or services.
Global Consumers
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Involves the study of similarities and differences among consumers in two or more nations or societies.
Cross-cultural analysis
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are a society's personally or socially preferable modes of conduct or states of existence that tend to persist over time.
values
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are what is considered normal and expected about the way people do things in a specific country
Customs
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The ___ is a law, amended by the international Anti-Dumping and Fair Competition Act (1998), that makes it a crime for U.S. corporations to bribe an official or a foreign government or political party to obtain or retain business in a foreign country.
Foreign Corrupt Practices Act (1977)
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Are things that represent ideas and concepts
Cultural Symbols
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is the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors.
Back Translation
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A___ is the price of one country's currency expressed in terms of another country's currency.
Currency Exchange Rate
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is a global market-entry strategy in which a company produces goods in one country and sells them in another country.
Exporting
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Is a global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profits of the new company.
Joint Venture
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Is a global market-entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or divison.
Direct Investment
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Occurs when a firm sells a product in a foreign country below its domestic price or below its actual cost.
Dumping
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A____ is a situation where products are sold through unauthorized channels of distribution. Also called Parallel Importing.
Gray Market
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