During the discussion in a lesson last Saturday, one of the groups came to me with a term that I have always wanted to know, but never remembered to look for, and what is that?
Let's guess, see how many tips do you need to reach the final answer:
- It has to do with shopping
- It comes in 2 types
- Both types are legal
- They are the same product
- Both types are sold in the same shop
- One type is cheaper than the other
- One type is all new, the other is mostly new but sometimes used
- They are sold outside normal distribution channels by companies which may have no relationship with the producer of the goods
- One buys the product where it is available cheaply, often at retail but sometimes at wholesale, and imports it legally to the target market
- They are mostly electronics suchs as cameras or mobile phones.
So do you know what I am talking about now? I'm referring to the parallel import or the grey products.
Do you own any? I do. Fancy a new iPhone 3GS, anyone? I don't.
Other terms to do with the grey products are:
Tariff -- is a duty imposed on foreign goods. They are usually associated with protectionism, the economic policy of restraining trade between nations.
Bootlegging -- usually refers to making, transporting and/or selling illegal alcoholic liquor or copyrighted material; the term originates from concealing flasks of alcohol in the legging of boots.
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