Exam 2 RVW - MKT 3013 Fall 2010 Review Sheet for Exam 2...

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MKT 3013 Fall 2010 Review Sheet for Exam 2 Chapter 5: Developing a Global Vision 1. What is NAFTA (p. 61)? a. North Atlantic Free Trade Association. Largest trade cooperative org in the world w/Mex, US, Canada. 2. General understanding about global marketing a. Marketing to the different parts of the world. 3. Global marketing standardization a. Marketing the same products the same way to all markets around the world. 4. External environments facing global marketers: what are the factors, e.g., culture, economic, political/legal, demographic, etc. (e.g. A short scenario will be given and you should identity which factor the example described in the scenario explains) 5. Tariff, quota, dumping, boycott a. Tariff- tax on goods coming into the country from international b. Quota – limit on the amount of a product that can be brought into the country c. Boycott – refusal to purchase products or import products from a certain country d. Dumping – selling goods in a foreign country for a much cheaper price than at home. Can be a form of discrimination. Serves to make profit when goods aren’t selling at home, increases mkt share, stabilizes prices, stimulates profit. 6. Uruguay round, WTO a. Uruguay Round – helps lower tariffs and trade restrictions world-wide. 151 countries so largest in world.
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i. WTO – world trade org helps to regulate Uruguay round and enforces policies. 7. Methods of entering the global marketplace: the most risky? the least risky? (p. 63 – p. 65) a. Exporting – selling goods in a foreign market. Least risk. b. Franchise/Licensing – company gives license to foreign company to produce, sell, market patented products. Some risk because you have to monitor. c. Joint Venture – company buys part of/opens in cooperation a company with a foreign entity. Very risky because one company could buy out/bail. Disagreements and fail often. d. Direct Investment – company puts large amnt of money in a foreign company. Owns all or majority interest. High risk. 8. What is joint venture? What is direct foreign investment?, What is licensing? When you read a description of one of these, you should be able to figure out what it is. 9. Global marketing mix: especially product and promotion; e.g. what is one product, one message? What is product adaptation? a.
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This note was uploaded on 01/03/2011 for the course MKT 3013 taught by Professor Tharp during the Spring '08 term at The University of Texas at San Antonio- San Antonio.

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Exam 2 RVW - MKT 3013 Fall 2010 Review Sheet for Exam 2...

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