Exam (elaborations)
GMS 522 Chapter 1 Test with Questions and 100% Correct Answers
- Course
- Institution
GMS 522 Chapter 1 Test with Questions and 100% Correct Answers
[Show more]
Content preview
GMS 522 Chapter 1 Test with Questions and100% Correct Answers
Globalization of markets - ✔✔The convergence of buyer preferences in
markets around the world.
Globalization of production - ✔✔The dispersal of production activities to
locations around the world that are low cost or high quality producers.
Drivers of globalization (4) - ✔✔1. Market factors
2. Cost factors
3. Environmental factors
4. Competitive factors
Market factors of globalization (4) - ✔✔1. Global consumers that need the
same product in multiple countries.
2. Globalization of distribution channels
3. Transferrability of marketing ideas to multiple countries (e.g. brand names and
advertising appeals)
4. Cross-border retail alliances
Cost factors of globalization (4) - ✔✔1. Avoiding cost inefficiencies and
duplicated efforts
2. Economies of scale from longer production runs
3. Economies of scope - spread costs over several product lines
, 4. Outsourcing
Environmental factors of globalization (4) - ✔✔1. Reduced global barriers,
rapid technological evolution
2. Successive rounds of multilateral trade negociations under GATT/WTO
3. Internet and other communication technologies
4. Changes in government policies (e.g. China's Go Out policy of the late 1990s)
Competitive factors of globalization (3) - ✔✔1. Firms may need to enter new
markets in order to match the moves of competitors.
2. Firms may need to enter new markets to follow major customers.
3. Firms may expand abroad to reduce the impact of competition from foreign
firms in their domestic market.
Dreher's KOF Index (3) - ✔✔Measures globalization based on three
dimensions:
1. Economic integration: trade and investment flows
2. Political integration: diffusion of gov't policies (no. of embassies, no. of peace
keeping missions, etc.)
3. Social integration: flow of ideas and movement of people.
Examples of backlash against globalization (6) - ✔✔1. Street demonstrations in
Seattle attempt to shut down WTO meeting.
2. Protests at the World Economic forum meeting in Davos, Switzerland in 2000.
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 Examsplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77858 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now