COLLEGE MARKETING CHAPTER 5

GLOBAL MARKETING
MARKETING THAT TARGETS MARKETS THROUGHOUT THE WORLD
GLOBAL VISION
RECOGNIZING AND REACTING TO INTERNATIONAL MARKETING OPPORTUNITIES, USING EFFECTIVE GLOBAL MARKETING STRATEGIES, AND BEING AWARE OF THREATS FROM FOREIGN COMPETITORS IN ALL MARKETS
GROSS DOMESTIC PRODUCT (GDP)
THE TOTAL MARKET VALUE OF ALL FINAL GOODS AND SERVICES PRODUCED IN A COUNTRY FOR A GIVEN TIME PERIOD
OUTSOURCING
SENDING U.S. JOBS ABROAD
INSHORING
RETURNING PRODUCTION JOBS TO THE UNITED STATES
MULTINATIONAL CORPORATION
A COMPANY THAT IS HEAVILY ENGAGED IN INTERNATIONAL TRADE, BEYOND EXPORTING AND IMPORTING
CAPITAL INTENSIVE
USING MORE CAPITAL THAN LABOR IN THE PRODUCTION PROCESS
GLOBAL MARKETING STANDARDIZATION
PRODUCTION OF UNIFORM PRODUCTS THAT CAN BE SOLD THE SAME WAY ALL OVER THE WORLD
MULTI DOMESTIC STRATEGY
WHEN MULTINATIONAL FIRMS ENABLE INDIVIDUAL SUBSIDIARIES TO COMPLETE INDEPENDENTLY IN DOMESTIC MARKETS
MERCOSUR
THE LARGEST LATIN AMERICAN TRADE AGREEMENT; INCLUDES ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, PARAGUAY, PERU, URUGUAY, AND VENEZUELA
URUGUAY ROUND
A TRADE AGREEMENT TO DRAMATICALLY LOWER TRADE BARRIERS WORLDWIDE; CREATED THE WORLD TRADE ORGANIZATION
WORLD TRADE ORGANIZATION (WTO)
A TRADE ORGANIZATION THAT REPLACED THE OLD GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT)
GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT)
A TRADE AGREEMENT THAT CONTAINED LOOPHOLES ENABLING COUNTRIES TO AVOID TRADE-BARRIER REDUCTION AGREEMENTS
NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA)
AN AGREEMENT BETWEEN CANADA, THE UNITED STATES, AND MEXICO THAT CREATED THE WORLDS THEN LARGEST FREE TRADE ZONE