Buying Behavior
a business market comprised of retailers and wholesalers
What is Resellers
grouping customers by type or industry
What is customer-based segmentation
taxes levied against imported goods
What is tariffs
the marketing of domestically produced goods and services abroad
What is exporting
an agreement between the United States, Canada, and Mexico that removes trade restrictions among the three nations
What is the USMCA
people who actually use a good or service
What is Users
individuals and firms that acquire products to support, directly or indirectly, production of other goods and services
What is Commercial Market
the purchasing of foreign goods and services
What is importing
the underlying foundation for modern life that includes transportation, communications, banking, utilities, and public services
What is Infrastructure
the price of one nation’s currency in terms of another country’s currency
What is exchange rate
encompasses everyone involved in any aspect of a company’s buying activity
What is Buying Center
people who actually select a good or service
What is deciders
28 countries make up the EU, which works to remove trade restrictions, permit the free flow of goods and workers throughout member nations, and promote human rights
What is the EU
when companies share the risks, costs, and management of the foreign operation with one or more partners
What is joint venture
is a contractual arrangement where the franchisee agrees to meet the operating requirements of a manufacturer or a franchiser
What is Franchise
people who control the information that all buying center members ultimately review
What is Gatekeepers
economic, political, regulatory, competitive, and technological considerations
What is environmental factors
where participating nations agree to the free trade of goods among themselves, abolishing tariffs and trade restrictions
What is Free-Trade-Area
when a company or business unit evaluates the political risks of the marketplaces in which they operate
What is political risk assessment
when the production of goods or services is assigned to local companies
What is subcontracting
segmenting the business market based on the ultimate way in which a buyer uses a product
What is End Use Application
people who have the formal authority to select a supplier and begin securing the good or service
What is Buyers
a 164-member organization that oversees trade agreements among its members, serves as a forum for trade negotiations, mediates trade disputes, monitors national trade policies, and works to reduce trade barriers throughout the world
What is the WTO
grants foreign marketers the right to distribute a firm’s merchandise or to use its trademark, patent, or process in a specified geographic area
What is foreign licensing
financial investment in foreign firms or facilities
What is International Direct Investment