Glossary of marketing terms Absolute advantage

Interactive plans. A planning system whereby headquarters sets a policy and framework and subsidiaries interpret these under local conditions.

International monetary fund. A fund, with world wide country membership, (united nations) which lends money to countries on a short term basis to assist them balance of payments problems.

International product life cycle. A model which suggest that products go through a cycle whereby high income, mass consumption countries go through a cycle of exporting, loss of exports to final importers of products.