Exam (elaborations)
mkt 445 midterm (1)
- Course
- Institution
Exam of 8 pages for the course GPSTC Class 290 at GPSTC Class 290 (mkt 445 midterm (1))
[Show more]
Seller
Follow
lydiaomutho
Content preview
mkt 445 midtermchps 1-11 (no8or12)
VISUAL AESTHETICS - CORRECT ANSWER-sense of what is beautiful and what is
not
taste v tasteless
colors w/ meanings in diff culture
COMPETITIVE ADVANTAGE - CORRECT ANSWER-when a co. succeeds in
creating more value for its customers than its competitiors do
Concentration and attention on core business and competence
-brand image
-lower price
-financial strength etc
private ownership, market resources - CORRECT ANSWER-market capitalism
state ownership, market - CORRECT ANSWER-market socialism
private ownership, command - CORRECT ANSWER-centrally planned capitalism
state ownership, command - CORRECT ANSWER-centrally planned socialism
economic systems - CORRECT ANSWER-communism v. pure competition
mixed economies: socialism(china), capitalist(US)
type of gov: monarchy, democracy, tyrnnay?
-type of trade: free trade, trade bloc etc
-Transportation,communications & energy sectors. State, private,or mixed
ownership?
GDP - CORRECT ANSWER-measure of a countries economic activity
GDP=C+I+G+NX
-growth=increases in productivity or vice versa
Trade organizations - CORRECT ANSWER-GATT
replaced by WTO
goal is to create fair trade agreements between member countries
MERCOSUR south America
GCC
ASEAN
ECOWAS
SADC
, Free Trade Area (FTA) - CORRECT ANSWER-a group of countries that remove
trade barriers among themselves (NAFTA)
customs union - CORRECT ANSWER-A group of countries committed to (1)
removing all barriers to the free flow of goods and services between each other and
(2) the pursuit of a common external trade policy.
the common market - CORRECT ANSWER-includes the elimination of internal
barriers to trade, established external barriers to trade, and allows for the free
movement of factors of production
economic union - CORRECT ANSWER-same as common market but coordinates
and harmonizes economic and social policy within the union
-central bank
-extensive political unity
-lead to central gov in time
EU - CORRECT ANSWER-harmonize national laws and regulations so that goods,
services, people,and money could flow freely across nationalboundaries
uses a single currency
27 countries
price transparancy
no customs at national borders
4 p's - CORRECT ANSWER-product,. price. promotion, place
HIGH CONTEXT CULTURE - CORRECT ANSWER-communication: less dirct
emphasis on: human relations
more sensitivity to: non verbals, feelings of others
mexican, greek, arab, jap, chinese
LOW CONTEXT CULTURE - CORRECT ANSWER-communication: detailed,
specific,precise
poorer at decoding: unspoken message, body language
US, Canada, german, swiss
Hofstede's Cultural Dimensions - CORRECT ANSWER-power distance,
individualism V collectivism, achievement v nurturing, uncertainty avoidance, long-v
short term orientation
individualist v collectivist - CORRECT ANSWER--look after own family and interest
us, canada, aus
-People expect the group to look after and protect them; Mexico thailand
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lydiaomutho. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now