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3.3 AMA PCM Global Marketing Exam With Accurate Answers (A+)
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3.3 AMA PCM Global Marketing Exam WithAccurate Answers (A+)
Agents - ANSWER Representatives of a given enterprise.
Balance of Trade - ANSWER the difference in value over a period of time of a country's
imports and exports of merchandise
Communication Adaptation Strategy - ANSWER A global communication strategy of fully
adapting advertising messages to local markets.
Consumer Ethnocentrism - ANSWER The tendency to believe that it is inappropriate,
indeed immoral, to purchase foreign-made products.
Contract Manufacturing - ANSWER Production of private-label goods by a foreign
country to which the domestic company then attaches its brand name or trademark;
part of the broad category of outsourcing.
Countertrade - ANSWER A form of trade in which all or part of the payment for goods or
services is in the form of other goods or services.
Cultural Relativism - ANSWER The principle that people's beliefs and activities should be
understood in terms of their own culture
Cultural Symbols - ANSWER The icons and objects that carry organizational values, and
utilized by the management to communicate and maintain shared meaning among
employees.
Customs - ANSWER The governmental officers appointed to collect duties imposed by a
, country on imports and exports. The term also refers to the formalities followed in such
collection.
Developing Country ANSWER a country in which the society is less modern and less
industrialized and in which inhabitants are generally poorer than they are in developed
countries
Direct Investment ANSWER Entering a foreign market by developing foreign-based
assembly or manufacturing facilities
Direct Ownership ANSWER An arrangement whereby employees purchase and hold
stocks in the organization that employees them.
Dual Adaptation Strategy - ANSWER Involves changing both the product and the
message in order to adapt to a specific culture.
Dumping - ANSWER Pricing a product sold in a foreign market below the cost of
producing it or selling at a price lower than in its domestic market.
Embargo - ANSWER A total ban on international trade of specific item, or a complete
halt in trade with a particular nation.
Exchange Controls - ANSWER Restrictions put by a government on the sum of funds,
either earned or invested, that could be withdrawn from a country in any one time frame,
whether converting an earning stream to repatriation of an investment.
Exporting - ANSWER A way of international market entry in which goods produced in the
company's home country are sold, usually with little or no modification, in the foreign
market.
Franchising - ANSWER A contract between a franchisor and franchisee that provides
the right to the franchisee to operate a business using a name and format developed
and supported by the franchisor.
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