KEY TERMS OF INTERNATIOALMARKETING.docx

KEY TERMS OF INTERNATIOALMARKETING.docx

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KEYTERMSOFINTERNATIOALMARKETING

KEYTERMS

Chapter1

Currencyflows:

Transferofcapitalacrossnationalboundaries.

Exchangerates:

Priceofacurrencyexpressedinunitsofanothercurrency.

Chapter2

Household:

Allthepersons,bothrelatedandunrelated,whooccupyahousingunit.

Urbanization:

Theconcepthasdifferentmeaningsdependingonwhereoneoperates;descriptionsofurbanizationrangefromadensely-populatedcity’sbuilt-upareastosmalltownswithproclaimedlegallimits.

PurchasingPowerParities（PPP）:

Ameasureofhowmanyunitsofcurrencyareneededinonecountrytobuytheamountofgoodsandservicethatoneunitofcurrencywillbuyinanothercountry.

Inflation:

Theincreaseinconsumerpricescomparedwithapreviousperiod;itaffectstheabilityofbothindustrialcustomersandconsumerstobuyandalsointroducesuncertaintyintoboththemarketer’splanningprocessandconsumers’buyinghabits.

PhysicalQualityofLifeIndex（PQLI）:

Acompositemeasureofthelevelofwelfareinacountry,includinglifeexpectancy,infantmortality,andadultliteracyrates.

Maquiladoras:

MexicanplantsthatmakegoodsandpartsorprocessfoodforexporttotheUnitedStates.

Importsubstitution:

Apolicythatrequiresanationtoproducegoodsthatwereformerlyimported.

Microfinance:

Aprogramwhichallowsconsumerswithoutcollateralpropertytoavailloansaveraging$100tomakepurchasesandutilizeretailbankingservices.

Chapter3

EconomicBlocs:

Groupsofnationsthatintegrateeconomicandpoliticalactivities.

BornGlobal:

Newlyfoundedfirmthat,fromitsinception,isestablishedasaninternationalbusiness.

TradeDeficit:

Atradedeficitoccurswhenacountryimportsmoregoodsandservicesthanitexports.

EconomiesofScale:

Productionconditionwhereanincreaseinthequantityoftheproductresultsinthedecreaseoftheproductionperunit;firmsmayachievelowercostsandhigherprofitsbothathomeandabroad.

ForeignDirectInvestment:

Capitalfundsflowfromabroad;companyisheldbynoncitizens;foreignownershipistypicallyundertakenforlonger-termparticipationinaneconomicactivity.

NontariffBarriers:

Barrierstotradethataremoresubtlethantariffbarriers,forexample,thesebarriersmaybegovernmentorprivate-sector“buydomestic”campaigns,preferentialtreatmentofdomesticbiddersoverforeignbidders,ortheestablishmentofstandardsthatarenotcommontoforeigngoodsorservices.

ProtectionisticLegislation:

Animportantbargainingtool;however,legislatedprotectionismcanresultinthedestructionoftheinternationaltradeandinvestmentframework.

MultilateralNegotiations:

Tradeagreementscarriedoutamonganumberofnations.

Chapter4

Acculturation:

Adjustingandadaptingtoaspecificcultureotherthanone’sown.

HighContextCultures:

Culturesinwhichthecontextisatleastasimportantaswhatisactuallysaid,forexample,JapanandSaudiArabiahaveculturesinwhichwhatisnotsaidcancarrymoremeaningthanwhatissaid.

LowContextCultures:

Culturesinwhichmostinformationiscontainedexplicitlyinwords;forexample,NorthAmericancultures.

CulturalImperialism:

Achargeindictedoninternationalmarketersiftheirmarketingapproachdoesmakeculturespecificadaptations.

In-DepthStudies:

Acomprehensivestudyofasubjectmatter.

Infrastructures:

Thebasiceconomic,social,financial,andmarketingsupportsystems,fromhousingtobankingsystemstocommunicationsnetworks;itisalsoanindicatorofpotentialdemand.

CulturalConvergence:

Thegrowingsimilarityofattitudesandbehaviorsacrosscultures.

SocialStratification:

Thedivisionofaparticularpopulationintoclasses.

Self-ReferenceCriterion:

Theunconsciousreferencetoone’sownculturalvaluesin

comparisontoothercultures.

Ethnocentrism:

Thebeliefthatone’sowncultureissuperiortoothers.

AreaStudies:

Environmentalbriefingsandculturalorientationprogramswhichprovidefactualpreparationforlivingorworkinginanotherculture

CulturalAssimilator:

Aprograminwhichtraineesmustrespondtoscenariosofspecificsituationsinaparticularcountry.

Chapter6

Triad:

ThemegamarketsofNorthAmerica,Europe,andAsia-Pacific;whicharetreatedbymarketersasasinglemarketwithsimilarconsumptionhabits.

Diversification:

Amarketexpansionpolicycharacterizedbygrowthinarelativelylargenumberofmarkets.

Glocalization:

Buildinginorganizationalflexibilitytoallowforlocal/regionaladjustmentsinglobalstrategicplanningandimplementation;uniformityissoughtinstrategicelementssuchaspositioningofaproductcareistakentolocalizetacticalelements,suchasdistribution.

Cross-subsidization:

Theuseofresourcesaccumulatedinonepartoftheworldtocompeteformarketshareinanotherpartoftheworld.

Not-invented-heresyndrome（NIH）:

Localresistanceordeclineinmoraleresultingfromtheperceptionthatheadquartersarenotsensitivetolocalneeds.

Dodger:

Alocalcompanywhichsellsoffitsassetstoaglobalplayerorbecomespartofanallianceonaccountofapressuretoglobalizeintheindustry.

Defender:

Alocalcompanythathasassetsthatgiveitacompetitiveadvantageonlyinitshomemarket.

Contender:

Alocalcompanywhichupgradesitscapabilitiestocompetetheestablishedglobalplayersworldwide.

Extender:

Alocalcompanythatpossessesassetswhichallowthemtoexploittheirsuccessathomeasaplatformforexpansionelsewhere.

Chapter7

Budgets:

Short-termfinancialguidelinesinsuchareasasinvestment,cash,andpersonnel.

Plans:

Formalizedlong-rangefinancialprogramswithmorethanaone-yearhorizon.

Chapter8

Proxyvariable:

Asubstituteforavariablethatcannotbemeasureddirectly.

Qualitativedata:

Datagatheredthroughinterviews,focusgroups,andobservationusedtobetterunderstandsituations,behavioralpatterns,andunderlyingdimensions.

Quantitativedata:

Dataisamassedtoassessstatisticalsignificance;surveysareappropriateresearchinstruments.

Structuredquestions:

Typicallyallowtherespondentsonlylimitedoptionsinreply.

Socialdesirability:

Degreeofsensitivitytocertainquestions.

Dataequivalence:

Oneofthequalitiesofquestionformatwhichensuresthatthecategoriesusedinquestionnairesarecomparativelystructured.

Realismcheck:

Checkingthedataqualitybycomparingitwithsecondaryinformationandwithanalogousinformationfromasimilarmarket.

Contentanalysis:

Aresearchtechniqueusedforinvestigatingthecontentofcommunicationinasociety;byliterallycountingthenumberoftimespreselectedwords,themes,symbols,orpicturesappearinagivenmedium.

Scenarioanalysis:

Evaluatingcorporateplansunderdifferentconfigurationsofkeyvariables,suchaseconomicgrowthrates,importpenetration,populationgrowth,andpoliticalstabilityovermedium-tolong-termperiods.

Chapter9

Safety-valveactivity:

Stimulatingexportsaleswithshorttermpricecutsinordertobalanceinventoriesorcompensateforoverproductionintheshortterm.

Psychologicaldistance:

Thelackofsymmetrybetweengrowinginternationalmarketswithrespecttoculturalvariables,legalfactors,andothersocietalnorms;amarketthatisgeographicallyclosemayseemtobepsychologicallydistant.

Bornglobal:

Firmswhicharefoundedfortheexplicitpurposeofmarketingabroadsincethedomesticeconomyistoosmalltosupporttheiractivities.

Innateexporters:

Exportingfirmswhichembarkontheirexportactivitieswithintwoyearsofestablishment.

Adaptation:

Anexperiencedexportfirmwhichisabletoadjustitsactivitiestokeeppacewithchangingexchangerates,tariffs,andothervariablesintheinternationalmarket.

Sogoshosha:

LargeJapanesetradingcompanies,suchasSumitomo,Mitsubishi,Mutsui,andC.Itoh.

Exporttradingcompany（ETC）:

Legalconstructdesignedtoencouragesmallandmedium-sizedcompaniesthatareencouragedtoparticipateintheinternationalmarketplace;aimedtoreducetheantitrustthreattojointexportefforts.

Licensing:

Anagreementwhereonefirm,thelicensor,permitsanothertouseitsintellectualpropertyinexchangeforcompensationdesignatedasaroyalty.

Opportunitycosts:

Costsresultingfromtheforeclosureofothersourcesofprofit,suchasexportsordirectinvestment;forexample,whenlicensingeliminatesoptions.

Trademarklicensing:

Permissionforusingthenameorlogoofadesigner;literarycharacter;sportsteam;ormoviestaronmerchandisesuchasclothing.

Franchising:

Aparentcompany（thefranchiser）grantsanother,independententity（thefranchisee）therighttodobusinessinaspecifiedmanner.

Portfolioinvestment:

Theacquisitionofstocksandfundsinternationally.

Resourcesseekers:

Firmsthatsearcheithernaturalresourcesorhumanresourcesintheirforeigndirectinvestmentstrategy.

EfficiencySeekers:

Firmsthatattempttoobtainthemosteconomicsourcesofproductionintheirforeigndirectinvestmentstrategy.

Deriveddemand:

Businessopportunitiesresultingfromthemoveabroadprincipleestablishedbycustomersandsuppliers.

Financialincentives:

Specialfundinglegislatedbygovernmenttoattractforeigninvestment,byprovidinglandandbuildingloans,loanguaranteesandwagesubsidies.

Braindrain:

Foreigndirectinvestorsattractingthebestandbrightestemployeesfromadomesticfirm;saidtobedeprivingdomesticfirmsoftalent.

Profitrepatriation:

Transferofbusinessgainsfromalocalmarkettoanothercountrybyforeigndirectinvestor.

Jointventures:

Collaborationoftwoormoreorganizationsformorethanatransitoryperiodwhoshareownershipandcontroloverpropertyrightsandoperations.

Strategi