COMMERCE 2MA3 Study Guide - Free Trade Area Of The Americas, Offset Agreement, Marketing Mix

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2MA3
• Professor: Grant B Mc Clelland

Document Summary

Global trade can be divided into two categories: Exporting refers to the marketing of domestically produced goods and services abroad. Importing refers to the purchasing of foreign goods and services. Allows companies to explore growth opportunities in other nations. lessens their dependence on domestic economic conditions at home. Can help them meet customer demand, reduce costs, and get information on potential markets worldwide. For north american firms, it"s especially critical since canada and the u. s. offer mature markets for many goods. Outside north america, it allows many economies to grow rapidly, opening up new markets for canadian products. A large part of service exports come from travel and tourism. Information technology has allowed services that once were considered nontransferable or storable to travel long distances from where they are produced quickly and easily through sophisticated telecommunications networks. Foreign visitors purchasing canadian produced goods and services are tourism exports. Exposure to new products, approaches, promotions, or marketing techniques.