Ma'am Georgia chapter 4 and 2

• Regional Institutions


  International organizations that incorporate international membership and encompass geopolitical entities that operationally transcend a single nation state
• World Trade Organization


  Created on 1 January 1995, marked the biggest reform of international trade since the end of the Second World War
• Five Institutions of World Bank

  • International bank for reconstruction and development
  • International development association
  • International finance corporation
  • Multilateral investment guarantee agency
  • International centre for settlement of investment disputes
• International Monetary Fund


  Conceived in 1944 during the Bretton Woods Conference with 44 representatives, but created in 1945
• World Bank- Initially formed in 1944 also during Bretton Woods Conference to aid countries suffering from the destruction of war
• WTO


  The only global international organization dealing with the rules of trade between nations
• Transnational institutions affecting world trade

  • World trade organization
  • International monetary funds
  • World bank
  • Regional institution
• Exports


  • Can affect currency values
  • Can affect fiscal and monetary policies of governments
  • Can shape public perception of competitiveness
  • Can determine the level of imports a country can afford
• WTO


  164 member states
• World Bank


  A unique global partnership working for sustainable solutions that reduce poverty and build shared prosperity in developing countries
• International Monetary Fund


  Fosters global monetary cooperation, secures financial stability, facilitates international trade, promotes high employment and sustainable economic growth, and reduces poverty around the world
• Foreign direct investment


  • Tends to be concentrated in specific sectors
  • Foreign investors believe they are able to contribute the best and benefit the most from their investment
  • Some individuals and policymakers may grow concerned about dependency on foreign owners, even though firm proof for the validity of such concern has been difficult to establish
• World Bank


  189 member countries
• World Bank's fundamental mission

  • Surveillance
  • Lending
  • Capacity development
• International Monetary Fund


  190 member countries
• WTO


  A place where member governments try to sort out the trade problems they face with each other
• Stages of international marketing involvement

  • No direct foreign marketing
  • Infrequent foreign marketing
  • Regular foreign marketing
  • International marketing
  • Global marketing
• Population


  An important variable for the international marketer is the size of the household
• Levels of economic integration

  • Economic union
  • Common market
  • Customs union
  • Free trade agreement
  • Preferential agreement
• Physical Quality of Life Index

  A composite measure of the level of welfare in a country
• Components of Physical Quality of Life Index

  • Life expectancy
  • Infant mortality
  • Adult literacy rates
• Engel's law- As a family's income increases the percentage spent on food will decrease, the percentage spent on housing and household operations will be roughly constant, and the amount saved or spent on other purchases will increase
• Market characteristics

  • Population
  • Income
  • Consumption patterns
• Income is most indicative of the market potential for most consumer and industrial products and services
• Population figures themselves must be broken down into meaningful categories in order for the marketer to take better advantage of them
• WTO


  The only global international organization dealing with the rules of trade between nations
• Elements of culture


  • Language
  • Non-verbal language
  • Religion
  • Values and attitude
  • Manner and customs
  • Material elements
  • Aesthetic
  • Education
  • Social institution
  • Sources of cultural knowledge
• Five key topics for non-verbal languages

  • Time
  • Space
  • Material possession
  • Friendship pattern
  • Business agreements
• Five dominant religions in the world

  • Islam
  • Christianity
  • Hinduism
  • Buddhism
  • Confucianism