International Business Review Entry Modes – Chapter 13 Vocabulary o Agent o Joint venture o Direct exporting o Licensing o Entry more o Management contract o Export Management o Strategic Alliance Company (EMC) o Turnkey o Export trading Company (ETC) o Wholly owned subsidiary o Franchising Explain how each method of market entry works and its advantages/disadvantages Marketing – Chapter 14 Vocabulary o Brand name o Distribution o Exclusive Channel o Intensive Channel o Promotion Mix o Dual pricing o o o o o Transfer price Bill of lading Export declaration Certificate of origin Freight forwarder Explain how the 4 P’s can be different internationally o Product Standardization vs. adaptation Examples of how and why products may be adapted o Promotion Standardization vs. adaptation Examples of how and why promotion may be adapted o Distribution Explain three different intermediaries that are found internationally Explain what impacts foreign distribution Describe how package labeling and documentation can differ internationally o Pricing What influences the price of a product world wide Currency – Chapter 9 pages 253-261 Know at least five different world currencies Be able to calculate the value of one currency into another Explain what countertrade is and why it impacts international business Explain three different methods of countertrade Explain two ways that companies can protect themselves from exchange rate risk Explain how a letter of credit works and why it’s important for international trade