MARK 3000 Final—McManus Exam
MARK 3000 Final—McManus Exam Study Questions
and Answers Top Graded 2024
Globalization - process by which goods, services, capital, people, info, and ideas flow
across national borders
Assessing Global Markets - Economics
Infrastructure and tech
Government actions
sociocultural factors
Economics - GDP, GNI, purchasing power parity, market size and population growth
rate
GDP - measuring value of products and services created there
GNI - consists of GDP plus the net income earned from investments abroad (minus any
payments made to nonresidents who contribute to the domestic economy)
Purchasing power parity - a theory that states that if the exchange rates of two countries
are in equilibrium, a product purchased in one will cost the same in the other, if
expressed in the same country
Weak dollar - means greater demand for their products in foreign countries because
they can sell it at a lower proce
Big Mac Index - purchasing power parity
MARK 3000 Final—McManus Exam
, MARK 3000 Final—McManus Exam
Market size and population growth rate - there are millions of people and growing, but
the population has never been equally dispersed
Infrastructure - the basic facilities, services, and installations needed for a community or
society to function, such as transportation and communication systems, water and
power lines, and public institutions such as schools, post offices, and prisons
Transportation - trains, roads, refrigeration, airports
Communication systems - media access, must be sufficiently developed to allow
consumers to find information about the products and services available in the
marketplace
Distribution channels - must exist to deliver products in a timely manner and at a
reasonable cost, some are high tech, some load things onto donkey carts
Commerce - legal, banking, and regulatory systems, allows markets to function
Gov't actions - quota
tariff
exchange control
trade agreement
trading bloc
ease in doing business
Quota - designates a minimum or maximum quantity of a product that may be brought
into a country during a specified time period
MARK 3000 Final—McManus Exam
, MARK 3000 Final—McManus Exam
- reduces availability of imported goods
Tariff - a tax levies on a good imposed into a country; also called a duty
- artificially raises prices, makes imported goods and more expensive and less
competitive with domestic goods
- lowers demand for imported goods
Quotas and tariffs - both benefit domestically made products because they reduce
foreign competition
Exchange control - regulation of a country's currency exchange rate
Trade agreement - intergovernmental agreement designed to manage and promote
trade activities for specific regions
Trading bloc - consists of those countries that have signed a particular trade agreement
EU - - 28 member countries
- standardized currency
- regulation
- trade practices
NAFTA - - US, Canada, Mexico
- item produced in any is treated as domestic in all
Ease in doing business - - ownership policies
- political stability
- desire for foreign business
MARK 3000 Final—McManus Exam
, MARK 3000 Final—McManus Exam
Culture - the shared meanings, beliefs, morals, values, and customs of a group of
people, exist on two levels: visible artifacts and underlying values
Power distance - willing to accept social inequality as natural
Uncertainty avoidance - the extend to which the society relies on orderliness,
consistency, structure, and formalized procedures to address situations that arts in daily
life
Individualism - perceived obligation to and dependence on groups
Masculinity - the extent to which dominant values are male oriented
Low masculinity - men and women are treated equally in all aspects of society; a higher
masculinity ranking suggests that men dominate in a all positions of power
Time orientation - short vs long term orientation
Long-term orientation - values long-term commitments and is willing to accept a longer
time horizon for the success of a new product introduction
Indulgence - the extent to which society allows for gratification of fun and enjoyment
needs or else suppresses and regulates such pursuits
Business Culture - - the common set of practices considered acceptable in a business
setting
- significant differences in values, behaviors across countries, regions
MARK 3000 Final—McManus Exam
