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BUSML 3250 Chapter 19 Exam Questions and Answers
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BUSML 3250 Chapter 19 Exam Questions and Answers
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BUSML 3250 Chapter 19 ExamQuestions and Answers
global firm - Answer-a firm that, by operating in more than one country, gains R&D,
production, marketing, and financial advantages in its costs and reputation that are not
available to purely domestic competitors
economic community - Answer-a group of nations organized to work toward common
goals in the regulation of international trade
exporting - Answer-entering foreign markets by selling goods produced in the
company's home country, often with little modification
joint venturing - Answer-entering foreign markets by joining with foreign companies to
produce or market a product or service
licensing - Answer-entering foreign markets through developing an agreement with a
licensee in the foreign market
contract manufacturing - Answer-a joint venture in which a company contracts with
manufacturers in a foreign market to produce its product or provide its service
management contracting - Answer-a joint venture in which the domestic firm supplies
the management know-how to a foreign company that supplies the capital; the domestic
firm exports management services rather than products
joint ownership - Answer-a cooperative venture in which a company creates a local
business with investors in a foreign market, who share ownership and control
direct investment - Answer-entering a foreign market by developing foreign-based
assembly or manufacturing facilities
standardized global marketing - Answer-an international marketing strategy that
basically uses the same marketing strategy and mix in all of the company's international
markets
adapted global marketing - Answer-an international marketing approach that adjusts the
marketing strategy to each international target market, which creates more costs but
hopefully produces a larger market share and return
straight product extension - Answer-marketing a product in a foreign market without
making any changes to the product
product invention - Answer-creating new products or services for foreign markets
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