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This 3 page Class Notes was uploaded by Anna Notetaker on Sunday October 11, 2015. The Class Notes belongs to Mkt 3820 at Middle Tennessee State University taught by Dr. Lucy Matthews in Fall 2015. Since its upload, it has received 23 views. For similar materials see principles of marketing in Business at Middle Tennessee State University.
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Date Created: 10/11/15
Principles of Marketing Chapter 5 Prof Matthews Every US state has realized net employment gains directly attributed to foreign trade Global Marketing Standardization is the production of uniform products that can be sold the same way all over the world Multidomestic strategy is a subsidiaries of multinational rms are allowed to compete independently in domestic markets Culture is the common set of values shared by its citizens that determine what is socially acceptable Factors to keep in mind when dealing with different cultures 1 Language and cultural idioms 2 Customs and traditions 3 Values and expectations of sales presentations Understanding and forecasting growth and demand globally requires understanding countries around the world Logistics and shipping costs have been a growing challenge for US companies looking to move production overseas Floating Exchange Rates is the comprise a system in which prices of different currencies move up and down based on the demand for and the supply of each currency Dumping is the sale of an exported product at a price lower than that charged for the same or a like product in the quothomequot market of the exporter Dumping may occur as a result of exporter business strategies that include 1 Trying to increase an overseas market share 2 Temporarily distributing products to overseas markets to offset slack demand at home 3 Lowering unit costs by exploiting largescale production 4 Attempting to maintain stable prices during periods of exchange rate uctuations Questions from class 1 Which of the following statements about the impact of international business on the US economy is NOT true a The United States exports about 13 percent of its industrial production b More than 10 million Americans hold jobs that are supported by exports c Every US state has realized net employment gains directly attributed to foreign trade d The United States depends more on international commerce than do any other countries e The United States exports over 21 trillion in goods and services each yeah Many countries depend more on international commerce than the United States does For example France the United Kingdom and Germany derive 27 32 and 50 percent of their respective gross domestic products from world trade considerably more than the United States39 14 percent 2 DeLouis owns an agency that specializes in bringing international buyers in contact with US companies to facilitate global trade What type of intermediary is DeLouis a Buyer for export b Export broker c License agent d lmport agent e Export agent An export broker is an intermediary who plays the traditional role by bringing buyer and seller together
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