Principles of Marketing and Advertising

Global Industry: An industry in which the strategic positions of competitors in given geographic or national markets are affected by their overall global positions.

Global firm: A firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages that are not available to purely domestic competitors.

Tariff: A tax levied by a government against certain imported products. Tariffs are designed to raise revenues or to protect domestic firms.

Quota: A limit on the amount of goods that an importing country will accept in certain product categories; it is designed to conserve on foreign exchange and to protect local industry and employment.

Exchange controls: Government limit on the amount of its foreign exchange with other countries and on its exchange rate to other currencies.

No tariff trade barriers: No

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