The global market place
15 important questions on The global market place
... Is a firm that, by operating in more than one country, gains R&D (research and development), production, marketing and financial advantages in its costs and reputation that are not available to purely domestic competitors.
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... Is a group of nations organized to work toward common goals in the regulation of international trade.
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The four elements of the global environment
- The international trade system
- Economic environment
- Political-legal environment
- Cultural environment
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... Is another word for entering foreign markets by selling goods produces in the company's home country, often with little modifiation.
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... Means entering foreign markets by joining with foreign companies to produce or market a product or service.
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... Is entering foreign markets through developing an agreement with a licensee in the foreign market.
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... Is a joint venture in which a company contracts with manufacturers in a foreign market to product its product or provide its service.
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... Is a cooperative venture in which a company creates a local business with investors in a foreign market who share ownership and control.
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... Means entering a foreign market by developing foreign based assembly or anufacturing facilities.
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... Is a global marketing approachthat adjusts the marketing strategy and mix elements to each international target market, which creates more costs but hopefully produces a larger market share and return.
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... Means marketing a product in a foreign market without making any changes to the product.
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... Is adapting a product to mete local conditions or wants in foreign markets.
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... Is creating new products or services for foreign markets.
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... Is a global communication strategy of fully adapting advertising messages to local markets.
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... Means designing channels that take into account the entire global supply chain and marketing channel, forging an effective global value delivery network.
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