ib3
Terms
undefined, object
copy deck
- draft
- (or bill of exchange)- the instrument normally used in international commerce for payment. "sight draft" is payable on presentation to the drawee while a "time draft" allows ofr a delay in payment.
- letter of credit
- issued by a bank at the request of the importer, and statesthat the bank will pay a specified sum of money to a beneficiary (safety)
- Levitt
- 1983- believed in a converging commonality (that force is called technology). not happened universaily
- bill of lading
- issued to the exporter by thecommon carrier transporting the merchanise. serves 3 purposes, receipe, contract, and document of title
- switch trading
- use of specialized 3rd party trading house in a countertrade arrangement.
- market segmintation
- process of identifying groups of consumers whose purchasing behavior is unique in important ways (based on demography, geography, social-cultural, and psychological factors
- export and import financing
- assures1)exoirter of payment 2)importer of product, bank offers financing intermediary service (l/c), carriers provide the exporter with a bill of landing
- nation branding
- the field of theory and practice which aims to measure and build a reputation of countries
- export credit insurance
- in the US export credit insurance is provided by the foreign credit insurance association (FICA)- and provides coverage against commercail riskes and political risks
- countertrade
- when money or currency can't be used
- export import bank
- an independednt agency of the US government...provides financing aid that will facilitate exports, imports, and the exchange of commodities between the US and other countries
- Marketing Mix
- product, price, place, promotion
- offset
- same as counterpurchase but the party can fulfill the obligation with any firm in the country to which the sale is being made
- export management companies
- export specialists that act as the export marketing department or international department for client firms
- barter
- direct exchange of good and or services between two parties without a cash transaction. primary only for one time deals