COMMERCE 2MA3 Study Guide - World Trade Organization, General Agreement On Tariffs And Trade, Free Trade Area Of The Americas

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

Document Summary

Benefits of going global: additional revenues, new insights into consumer behaviour, alternative distribution strategies, advance notice of new products, exposure to new products, approaches, promotions, or marketing techniques (cid:224) global marketers are typically well positioned to compete effectively with foreign competitors. (cid:224) key to success is a firm"s ability to adapt its products to local preferences and cultures. (cid:224) need to understand both similarities and differences in strategies for global and domestic marketing. The ultimate quota is an embargo a complete ban on the import of a product (examples: u. s. embargo on cuban products since the 1960s) subsidy (cid:224) is a type of trade barrier in which governments financially back a certain domestic product. exchange control (cid:224) regulates foreign trade through a central bank: dumping (cid:224) means selling a product in a foreign market for less than what it commands in the domestic market.