IB Business 4.7

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Terms in this set (...)

Business etiquette
It refers to the mannerism and customs (traditions) by which business is conducted in different countries.
Cultural exports
They are the commercial transfer of ideas and values from one country to another, eg. US fast-food, hollywood movies and drive-through outlets.
Direct investment
It refers to a business setting up production and/or distribution facilities in overseas markets.
Exporting
It is the practice of selling domestically produced goods and/or series to overseas buyers in order to gain access to larger international markets.
Global marketing
It is the marketing of product by using the same marketing strategy in numerous countries to gain from marketing economies of scale.
Globalisation
It is the integration and interdependence of the world;s economies, resulting in cultures and tastes converging at an accelerating pace.
International marketing
It is the margin of a firm;s products in foreign counties.
Licensing
It occurs when a third-party firm (licensee) buts the right to produce the goods of another business (the licensor).