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GMS522 Test | Verified Q&A’s| Latest

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GMS522 Test | Verified Q&A’s| Latest

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  • September 19, 2024
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  • GMS522
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GMS522 Test | Verified Q&A’s| Latest


Ted Levitt argued.. - ✔✔markets are more homogenous through technology
and communication



Globalization - ✔✔trend towards greater independence among national
institutions and economies


Globalization of Markets - ✔✔convergence of buyer preferences around the world



Globalization of production - ✔✔dispersal of production activities to locations
around the world that are low cost or high quality



Drivers of Globalization (4 types of factors) - ✔✔market, environmental,
cost, competitive



Dreher's KOF index measures globalization on 3 dimensions: EPS -
✔✔Economic, Political, Social



Culture - ✔✔Integrated system of learned behaviour patterns that are
distinguishing characteristics


Encultured - ✔✔learning how to be engaged in your particular culture

, Ethnocentricity - ✔✔belief that one's group or culture is superior



Elements of culture - ✔✔language, religion, values & attitudes, manners &
customs, material elements, aesthetics, education & social institutions



Language - ✔✔messages conveyed by the words spoken and the way in which
they are spoken


Religion - ✔✔defines the ideals for life, higher power



Values - ✔✔shared beliefs which have been internalized



Attitudes - ✔✔evaluation of alternatives based on internalized values



Material Culture - ✔✔value placed on material possessions by sociiety



forewarning - ✔✔warning before replacing local with global brand



stage gate process - ✔✔series of steps in global product development



stages in global product development - ✔✔idea generation, screening,
concept testing, sales forecasting, test marketing, launch



counterfeit problematic because: - ✔✔lost sales, lost goodwill, increase in
costs, lowers incentives for innovation

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