Flashcards
unit 4 key words
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- 20ethnocentric approach to marketingstandardise products to global markets to keep prices low
- 21exportsselling goods and services to other countries
- 22FDIforeign direct investment is controlling ownership of enterprise in a country by investing into the businesses
- 23geocentric approach to marketingusing a mixture of marketing in global countries, specialised and standardised
- 24glocalisationproducts are both developed and sold to global customers but designed to meet the needs of local markets
eg different menus in mcdonald’s - 25global competitivenesscompeting organisations that serve international customers
- 26global nichea small specialised market which is a subset of global market
- 27global mergersinorganic expansion, joining together firms from different countries
- 28global marketing strategythe same product is sold in many countries with fine tuning of price / promotion
- 29transitional companieslarge companies that operate in a number of countries
- 30government incentiveswhen the governments provided a small business a loan or grant to encourage entrepreneurs to set up
- 31GDP per capitathe output of GDP of a country per person in the country
- 32growing economiesincrease in the capacity of an economy to produce goods and services
- 33growth of the global labour forcethe international labor pool of workers
- 34HDIstatistics of life expectancy, education and per capital income indicators
- 35importsa good brought into a national border
- 36import quotasrestricting the quantity of imports
- 37increased investment flowswhen countries with head offices in one country set up factories or distribution centres in other countries
- 38indicators of growthGDP per capita
literacy rates
health
HDI - 39infrastructureframework of features in a country that makes trade possible
- 40international tradeexchange of goods or services around the world
- 41international trade barriermeasures the government puts in place to make imported goods less competitive
- 42polycentric marketingwhere companies attempt to spread the appeal of their products into global markets by adapting products to locals needs
- 43literacy ratepercentage of people over the age of 15 who can read and write a short statement.
- 44liberalisationthe removal of restrictions on free exchange of goods between nations
- 45migrationthe movement of one country to another
- 46MNCa large company that trades and produces in more than one country
- 47natural resourcesraw materials that come from nature such as wood or oil
- 48offshoringwhen a business relocates it’s operations in another country that has cheaper production costs
- 49outsourcingwhen a business employs a third party to carry out a function
- 50political stabilitythe durability of a current government regime
- 51protectionismrestraining trade between countries through methods such as tariffs on imported goods and restrictive quotas
- 52push factorsthreats in a domestic market that force a business to sell abroad
- 53pull factorsopportunities that encourage a business to sell abroad
- 54saturated marketswhen a market is no longer generating new demand due to high competition or decreased need
- 55labour forcethe pool of available workers with the right skills
- 56skill shortagesa lack of qualified workers with the right skills
- 57specialisationa concentration of productive resources in a particular area of the economy based on comparative advantage
- 58structural changea long term shift in the structure of an economy which is often linked to growth or economic development
- 59tariffa tax on imports or exports imposed by the government to encourage consumers to buy domestically
- 60tax revenueincome gained by the government through taxation
- 61transfer pricingthe settling of the price of goods sold between controlled legal entities within an enterprise
- 62trade opportunitiesexchange of products between countries for sustained GDP growth
- 63trade blocan agreement between countries to reduce or completely remove trade barriers
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- AS level Business Studies (Key words 1) Flashcards on unit 4 key words , created by amy shann on 29/05/2018.
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- amy shann
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