International marketing The marketing of a company's products and/or services outside of that company's home nation.
Multinational marketing Firms that are involved in marketing as well as production, research, human resource management and the employment of a foreign work force.
Dumping A practice in which a firm attempts to sell discontinued products, seconds, or repaired products in overseas markets at below domestic prices.
Exchange rate The value of one nation's currency in relation to that of another country.
Tariff A tax placed on imported goods.
Expropriation The act of a government taking ownership of a firm's plants.
Indirect exporting Occurs when all of a firm's foreign sales are made through the firm's domestic sales department.
Semi-direct exporting Occurs when a firm sells products in foreign markets through agents, merchant middlemen, or other manufacturers.
Combination export manager A domestic agent intermediary that acts as an exporting department for several noncompeting firms.
Manufacturers export agent Similar to manufacturer's agents in domestic product setting.
Webb-Pomerene Export Association Two or more firms that compete domestically, but work together in exporting their products.
Piggyback exporting A situation in which one manufacturer that has export facilities and overseas channels of distribution will handle the exporting of another firm's noncompeting but complementary products.
Direct exporting Occurs when a firm establishes an export department to sell directly to a foreign firm.
Licensing An agreement in which a firm (licensor) provides some technology to a foreign firm (licensee) by granting the firm the right to use the licensor's manufacturing process, brand name, or sales knowledge in return for some payment.
Joint venture A partnership between a domestic firm and a foreign firm.
Straight extension The introduction of the same product and the same message in every foreign market.
Communication adaptation A strategy used in foreign markets when the same product can be used to satisfy different needs, or if a product is used in a different way in foreign market.
Product adaptation A product is changed to meet individual foreign target market needs.