Advertising and Sales Promotion International Marketing and Advertising Unit 2, Lesson 5 Copyright © Texas Education Agency, All Rights Reserved.

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TERMS  International Trade – The exchange of goods and services among nations.  Imports – Goods and services purchased from other countries.  Exports – Goods and services sold to other countries.  Balance of Trade – The difference in value between exports and imports of a nation.  Free Trade – The commercial exchange between nations that is conducted on free market principles without restrictive regulations.  Tariff – A tax on imports.  Import Quota – Limits the quantity or the monetary value of a product that may be imported.  Embargo – A total ban on specific goods coming into and leaving the country.  Protectionism – A government’s establishment of economic policies that systematically restrict imports in order to protect domestic industries.  World Trade Organization (WTO) – A coalition of nations that makes rules governing international trade.  North American Free Trade Agreement (NAFTA) – An international trade agreement among the U.S., Canada, and Mexico.  Multinational – Large corporations that have operations in several countries.  Mini Nationals – Midsize or smaller companies that have operations in foreign countries.  Globalization – Selling the same product and using the same promotion methods in all countries.  Multicultural – Representing many different cultures  Multigenerational – Pertaining to several different generations in a society. Copyright © Texas Education Agency, All Rights Reserved. 3

Multinational and Mini National Business and Advertising  There a several factors to consider when a company has operations in several countries.  Political Factors  Trade Regulations and Laws  Economic Factors  Social and Business Etiquette Copyright © Texas Education Agency, All Rights Reserved. 4

Global Advertising  An advertisement that can be used worldwide with only minor changes. Copyright © Texas Education Agency, All Rights Reserved. 5

Multicultural Advertising  Companies must take into consideration all cultures and rituals when advertising products. Copyright © Texas Education Agency, All Rights Reserved. 6

Multigenerational Advertising  Advertising to many different generations often relies on brand recognition. Copyright © Texas Education Agency, All Rights Reserved. 7