Professors on the Go!Chapter 19The Global Marketplace1.Key ConceptsThe international trade system; Economic, political-legal, and cultural environments•Do some research on the European Union. Discuss both positive and negative issues concerning its progress. •Pick a country, other than your own, and write a report on the economic, political-legal, and cultural environments present in that country. Discuss the differences and the similarities with the United States. What marketing opportunities do you think are present? Which cultural or business traditions are keys to understanding the environment of the country and its consumers?•Define the following terms: tariff, quota, embargo, exchange controls,and nontariff trade barriers.Explain the role played by these terms in international trade.2.Key ConceptsDeciding whether to go international, Deciding which markets to enter and how to enter them•Red Bull markets its energy drink to about 75 countries. What must Red Bull consider when selecting which counties to enter?
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