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GMS522 Midterm Exam with Questions Passed 100%
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GMS522 Midterm Exam withQuestions Passed 100%
polycentric -✔✔highly flexible in making decisions with respect to marketing, production and
technology choices in serving their local customers
regiocentric -✔✔firms with a regiocentric attitude view the world as a set of distinct regional
markets, they attempt to coordinate their business activities and strategies within these regions and not
across them
geocentric -✔✔standardize products and adapt to the number of markets they serve
cultural literacy -✔✔detailed knowledge of a country that helps the manager to function
effectively within it such as understanding the pace at which business transactions can be completed
e.g. in mexico business transactions tend to proceed slowly in order to allow time for the parties to get
to know each other more on a personal level, whereas in north america such personal relationships
are not as important and transactions proceed at a much faster pace
the elements of culture -✔✔- language
- religion
- values and attitudes
- manners and customs
- material elements
- aesthetics
- education
- social institutions
,in global marketing language is important in: -✔✔- collecting information
- providing access to the local society
- communicating with channel members
- providing a means of interpreting context
aspects of non-verbal language -✔✔- time: flexible in many cultures
- space: arabs and latinos may get a little too close
- material possessions: type of suit, watch, car and phone
- friendship patterns: who you know
- business agreements: formal or informal
importance of religion -✔✔- defines the ideals of life
- existence of a higher power
- reflected in values and attitudes and eventually behavior
- importance for international marketers to understand religious differences such as 1) religious holidays
and exchange of gifts 2) role of women in business (e.g. middle east) 3) products and services that can
be marketed (beef, alcohol, etc.) 4) attitudes towards money: catholics discourage the accumulation of
wealth, protestants encourage the accumulation of wealth and the importance of hard work
values and attitudes -✔✔- values: shared beliefs which have been internalized
- attitudes: evaluation of alternatives based on internalized values
- most strongly rooted values and attitudes relate to central beliefs such as religion
manners and customs -✔✔- major impact on the process of business negotiations
e.g. japanese execs are noted for remaining silent for long periods during negotiations, which is likely
to unnerve less seasoned western negotiations, prompting them to lower prices or offer other
inducements to get the deal done
e.g. in the middle east negotiations may drag on for extended periods because arab executives may
way to spend some time getting to know their western counterparts
,- gift-giving: what is appropriate, how should it be packaged, how should it be presented, how products
are used
e.g. chinese context: both hands
*cultural superstition can override economic rationality
material culture -✔✔the value placed on material possessions by society
- the level of material culture is a good indicator of potential demand
aesthetics -✔✔societies differ in terms of what is or what is not considered to be beautiful or in good
taste
- use of color in advertising/packaging: color influences consumer perceptions as it induces specific
moods and emotions as well as perceptions of price and quality (the choice of a wrong color may lead
to customer rejection and business failure)
e.g. in nigeria red in considered to be bad luck, but is associated with love, happiness and luck in china
- superstitions can lead to rationality being neglected
- the use of sex in advertising: images and messages featuring sexual content may play well in
western europe, but are not likely to be well-received in china
education -✔✔education plays a major role in passing on culture from one generation to another
- students at foreign universities are exposed to new ideas and on return to their home countries
these ideas may contribute to cultural change
- the type of education and training emphasized by the society must be considered
e.g. japan tends to place more emphasis on math and science relative to western countries, which may
have implications for the production and use of technological innovations
social institutions -✔✔social institutions affect the way people relate
- family structure will affect consumption patterns and the buying decision
- social stratification will also be associated with income level and consumption
- in latin american countries, family members are routinely hired due to the fact that they can seemingly
be trusted (same in India). this practice is viewed as "nepotism" to westerners
, international marketing -✔✔the process of planning and conducting transactions across national
borders to create exchanges that satisfy the objectives of individuals and organizations.
(international sales are seen as secondary to developing the domestic market)
multidomestic marketing strategy -✔✔the development of separate marketing strategies for each
country that a firm conducts business activities in (if you are in latin america there is one strategy for
brazil, one for argentina, etc.)
the market concept -✔✔the need to identify and satisfy unique customer needs in order to
increase sales, maximize profits and beat competition
global marketing -✔✔the marketing activities that are coordinated and integrated across multiple
country markets. integration involves product standardization (identical brand names, similar
advertising messages, consistent packaging, etc.)
why global marketing activities? -✔✔- expansion
- survival: if business is not conducted by the domestic firm on a global level, at some point they will be
beat by their foreign rivals
glocal marketing -✔✔attempting to balance standardization with local customer needs, "think global,
act local"
e.g. mcdonalds - in germany mcdonalds sells beer, whereas in the us they have different perceptions of
alcohol, mcdonalds - does not serve beef on the menu in india due to hindu community's belief system,
coca cola - markets "qoo" in japan
what is globalization? -✔✔a trend towards greater interdependence among national institutions and
economies. this is beneficial to consumers bc they are exposed to a wider array of products and ideal for
businesses due to visible expansion opportunities
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