Chapter 13
What is the Marketing Mix?
Combination of product, price, place, and promotion. (Often called the four P's) used to market products.
A person who is living outside his/her country of citizenship.
Expatriate
Provides managers the data they need to make decisions and provide people outside the organization the information they need. (governments, suppliers, investors)
International Accounting
Institution that influences behavior through laws and regulations.
Formal Institutions
In 1995 this soft-drink company launched the ______ challenge, comparing the
product to other soda competitors (comparative advertisement) to advertise the
drinks superiority. Which soft-drink company conducted this advertisement?
Pepsi
The Total Product, which is what the customer buys, includes what?
The physical product, brand name, accessories, after sales service, warranty, instructions for use, company image, and package.
The pool of potential employees with the necessary skills within commuting distance from an employer.
Labor Market
A way that a business can report its environmental, social and economic impacts.
Triple Bottom Line
Influences behavior through norms, values, customs and ideologies.
Informal Institutions
What U.S based fast food restaurant is Japan's largest restaurant business?
McDonald's.
Which country utilizes direct advertisement regularly?
United States of America
When a country loses some of its most intelligent and best-educated people.
Brain Drain
Pricing that is established for transactions between members of the enterprise
Transfer Pricing
Understanding of institutions as social constructs, a collection of norms that structure the relations of individuals to one another.
New Institutional Theory
UN body that make legal decisions involving disputes between national governments.
ICJ (International Court of Justice)
What is the programmed management approach?
A middle ground advertising strategy between globally standardized and entirely local programs
Policy of hiring and promoting based on ability and experience without considering race or citizenship.
Geocentric Policy.
Holds assets (to take a position) in one market in order to offset exposure to price changes in an opposite position.
Hedge
Collections of shared ideas that define reality by means of conceptual frameworks or schema, often neither explicit or tangible.
Cognitive Informal Institutions
Foreign shares held by a custodian, usually a U.S. bank, in the issuer’s home market and traded in dollars on the U.S. exchange.
American Depository Receipts
ADR's
What is foreign national pricing?
Policy that sets local pricing based on market forces in another country.
HCN (Host Country National) hires are sometimes called _________.
Inpatriate
The potential for the value of future cash flows to be affected by unanticipated exchange rate movements.
Economic Exposure
UN body concerned with economic and social issues such as trade, development, education, and human rights.
ECOSOC (Economic and Social Council)
The movement of people from country to country or area to area seeking jobs.
Labor Mobility