Explain the types of competition marketers face

1. Describe the market conditions that influence a firm’s decision to enter foreign markets.
2. Explain what world trade means. What is the role of the WTO and economic communities in encouraging free trade? What is protectionism? Explain import quotas, embargoes, and tariffs.

3. Explain how GDP, the categories of economic development, and the business cycle influence marketers’ decisions in entering global markets. What are the BRIC countries? What is the Group of Eight (G8)?

4. Explain the types of competition marketers face: discretionary income competition, product competition, and brand competition.

5. What are a monopoly, an oligopoly, monopolistic competition, and pure competition?

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