ENTR4460 - Marketing Vocab

Agent/Distributor

An individual or firm serving as the foreign representative of U.S. suppliers, locating buyers for them in the foreign market.

CCC Mark

A symbol indicating compliance with Chinese government laws for manufactured products related to human life and health.

CE Mark

A mandatory conformity mark certifying that a product meets EU consumer safety, health or environmental requirements.

Distribution license

A license given to an exporter to streamline continuous shipping of authorized products, replacing individual validated licenses.

Distributor

A foreign agent who sells directly in the foreign market for a U.S. supplier and maintains an inventory of the supplier's products.

Export Management Company (EMC)

A firm acting as a complete export arm for a company's exporting needs, often paying all expenses.

Export Trading Company (ETC)

A business that acts as a complete export service house and takes title to exported goods.

Gold Key

A service that provides customized information for U.S. firms visiting a country, including market research and introductions.

Indirect exporting

Sale by the exporter to the buyer through an intermediary in the domestic market.

Landed cost

The total cost of shipment delivered to a named location, including the cost of the goods and transportation.

NAFTA

The North American Free Trade Agreement, aimed at lowering trade barriers among Canada, the United States, and Mexico.

Piggyback arrangement

An arrangement where one company uses the established distribution channels of another company for complementary products.

Primary research

Market research that directly engages with target customer segments to collect data.

Pull strategy

A production and distribution strategy based on specific customer demand with no inventory of completed products.

Push strategy

A production and distribution strategy based upon forecasts rather than specific customer demand.

Secondary research

Collection of data based on the research of others, utilizing second-hand sources.

Standard Industrial Classification (SIC)

A standard numerical code system used by the U.S. government to classify goods and services.

Trade mission

A trip taken by a group of individuals to meet prospective customers overseas.

Trade Show

An event where firms present their products or services to prospective customers.

Vertical Selling

A marketing policy soliciting only one segment of the trade.

Horizontal Selling

A marketing policy encompassing multiple or varied industries.

Gray Market

The trade of a commodity through unofficial distribution channels.

U.S. Commercial Service

The trade promotion arm of the International Trade Administration promoting U.S. exports.

Preference Criteria

Under NAFTA, classifications A-F determine how preferential treatment is justified.

UNCISG

United Nations Convention on Contracts for the International Sale of Goods governing sales contracts.

PIERS

A private company that provides port-level import/export statistics.

Kompass

A leading provider of company information from around the world.

Market Segmentation

The concept of dividing a market into sub-sets of consumers for targeted marketing.

UN Comtrade

A database containing trade data from countries worldwide.

Country Commercial Guide

Reports prepared annually by U.S. embassies, analyzing countries' commercial environments.

Foreign Direct Investment

Long-term participation by one country in the economy of another.

Quota

A trade restriction setting a physical limit on the quantity of goods that can be imported.

Embargo

A prohibition of commerce and trade with a particular country to isolate it.

Rules of Origin

Guidelines used to determine the country of origin of a product in international trade.

Certificate of Origin

A document stating the country where goods are manufactured.

4 P’s of Marketing

Product, Price, Place, Promotion; collectively known as the Marketing Mix.

STAT-USA

A federal government source for economic statistics and international market research.

WEEE

The Waste Electrical and Electronic Equipment Directive, setting recycling targets for electronic goods.