M1 Chapter 4.2 Global Marketplace

A Global Economic Scan consists of

Creating a specially designed product or promotion for a country or region

__________ involves hiring a foreign manufacturer to make products according to specs.

In some countries foreign investors are not permitted to own 100 percent of a business.

__________ is a business enterprise that a domestic and a foreign company undertake together.

__________involves letting another company (licensee) use a trademark or patent.

Changing a product to reflect cultural differences

One drawback of contract manufacturing is

A joint venture can make it more difficult to understand a foreign market.

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Example: Religious observances & holidays

Example: Government stability

__________is the establishment of a business in a foreign country.

Example: Electrical voltage standards

Example: Required employee benefits

One benefit of contract manufacturing is inexpensive labor available in emerging countries.

Example: Using Ronaldo (soccer player) in a commercial in Portugal

Using the same product and the same promotion across cultures