MKT291Ch.7 - Chapter 7 Protectionism o The practice of...

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Chapter 7 Protectionism o The practice of shielding one or more industries within a country’s economy from foreign competition through the use of tariffs or quotas o Tariff A government tax on goods or services entering a country, primarily serving to raise prices on imports o Quota A restriction placed on the amount of a product allowed to enter or leave a country o World Trade Organization Institution that sets rules governing trade between its members through a panel of trade experts o European Union and North American Free Trade Agreement (NAFTA) Promote free trade among member nations and enhancing their individual economies o Global Competition Exists when firms originate, produce, and market their products and services worldwide Multidomestic Marketing Strategy A multinational firm’s strategy of offering as many different product variations, brand names, and advertising programs as countries in which it does business Global Marketing Strategy
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This note was uploaded on 10/19/2011 for the course MARKETING 291 taught by Professor Hoffer during the Fall '11 term at Miami University.

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MKT291Ch.7 - Chapter 7 Protectionism o The practice of...

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