World Trade Organization
An international agency which encourages trade between member nations, administers global trade agreements and resolves disputes when they arise.
free markets
Markets are allowed to operate without a lot of interference, or meddling, from the government
Global media
The individuals and corporations involved in the production of news and entertainment that are marketed to a global audience
international marketing
Focuses resources on global market opportunities and threats; the main difference is the scope of activities because global marketing occurs in markets outside the organization's home country
Uncontrollable domestic elements
political/legal fores, competitive structure, economic climate
unconctrollable foreign environment
political/legal, culture, geography, structure of distribution, level of technology, competitive forces and economic forces
self reference criterion
unconscious reference to one's own cultural values as a basis for decisions
ethocentrism
belief that ones culture is better, more natural than other cultures; most human beings
global awareness
A frame of reference, important to the success of a businessperson, that embodies tolerance of cultural differences and knowledge of cultures, history, world market potential, and global economic, social, and political trends.
international marketing
The performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit.
global marketing
a strategy of using a common marketing plan and program for all countries in which a company operates, thus selling the product or services the same way everywhere in the world