GMS522- Chapter 1 Exam Questions and
Answers
International Marketing - Answer -the process of planning and conducting transactions
across national borders to create exchanges that satisfy the objectives of individuals
and organizations
Multi-Domestic Marketing Strategy - Answer -development of separate marketing
strategies for each target country (firms recognized country differences)
Global Marketing - Answer -marketing activities coordinated and integrated across
multiple country markets
Levitt's Homogenous Markets - 1983 - Answer -- markets are becoming more
homogenous & could be targeted with standardized products
- drivers: technology and communication
Similarities Between Global & Domestic Marketing - Answer -- focus on the exchange of
something of value
- need to provide consumer satisfaction
Glocal - Answer -"think global, act local"
- balance standardization with adaptation to local customer needs
Globalization - Answer -The trend towards greater interdependence among national
institutions and economies
Globalization of Markets - Answer -Convergence in buyer preferences in markets
around the world
Globalization of Production - Answer -Dispersal of production activities worldwide to
minimize costs or maximize quality
Dreher's KOF Index (3 Dimensions) - Answer -1. economic integration
2. political integration
3. social integration
Economic Integration - Answer -trade and investment flows
Political Integration - Answer -diffusion of government policies
Answers
International Marketing - Answer -the process of planning and conducting transactions
across national borders to create exchanges that satisfy the objectives of individuals
and organizations
Multi-Domestic Marketing Strategy - Answer -development of separate marketing
strategies for each target country (firms recognized country differences)
Global Marketing - Answer -marketing activities coordinated and integrated across
multiple country markets
Levitt's Homogenous Markets - 1983 - Answer -- markets are becoming more
homogenous & could be targeted with standardized products
- drivers: technology and communication
Similarities Between Global & Domestic Marketing - Answer -- focus on the exchange of
something of value
- need to provide consumer satisfaction
Glocal - Answer -"think global, act local"
- balance standardization with adaptation to local customer needs
Globalization - Answer -The trend towards greater interdependence among national
institutions and economies
Globalization of Markets - Answer -Convergence in buyer preferences in markets
around the world
Globalization of Production - Answer -Dispersal of production activities worldwide to
minimize costs or maximize quality
Dreher's KOF Index (3 Dimensions) - Answer -1. economic integration
2. political integration
3. social integration
Economic Integration - Answer -trade and investment flows
Political Integration - Answer -diffusion of government policies
