International Business Basics
A business that only sells its products within Canada is considered this type of business.
What is a domestic business?
A tax placed on imported goods to make them more expensive is called a:
What is a tariff (or duty)?
When a company sells the rights to use its brand and business model to another business, this is:
What is franchising?
The specific group of consumers a business wants to reach is called the:
What is a target market?
This analysis tool examines strengths, weaknesses, opportunities, and threats.
What is a SWOT analysis?
A business becomes international if it does this, such as owning a factory in another country or importing goods.
What is international business?
When a country limits the amount of a product that can be imported, this is known as a:
What is a trade quota?
Allowing a foreign company to produce and sell your product in exchange for a fee is called:
What is licensing?
Dividing a market based on age, income, location, or lifestyle is known as:
What is market segmentation?
This framework analyzes competition using buyers, suppliers, rivalry, new entrants, and substitutes.
What is Porter’s Five Forces?
This term refers to the buying and selling of goods and services between countries.
What is trade?
A complete ban on trade with a particular country is called a:
What is a trade embargo?
When two businesses from different countries create a new business together, it is a:
What is a joint venture?
The four elements of product, price, place, and promotion are known as the:
What are the 4 P’s of marketing?
This tool looks at political, economic, social, technological, legal, and environmental factors.
What is a PESTLE analysis?
When countries rely on each other for goods, services, and resources, this is called...
What is interdependence?
Government actions designed to protect domestic industries from foreign competition are known as:
What is protectionism?
A fully owned operation set up in another country is known as a:
What is a foreign subsidiary?
When a company changes its product or marketing to suit local cultures and tastes, this is:
What is an adaptation marketing strategy?
The total value of all goods and services produced in a country is known as:
What is Gross Domestic Product (GDP)?
A country that regularly buys from and sells to another country is known as a:
What is a trading partner?
Health, safety, or environmental rules that make it harder for foreign companies to sell products are called:
What are standards as trade barriers?
When a company invests directly in facilities or operations in another country, this is:
What is foreign direct investment (FDI)?
The value that comes from consumer recognition and loyalty to a brand is called:
What is brand equity?
The difference between a country’s exports and imports is called the:
What is the balance of trade?