Exam (elaborations)
mkt 445 midterm (1)
- Course
- GPSTC Class 290
- Institution
- GPSTC Class 290
Exam of 8 pages for the course GPSTC Class 290 at GPSTC Class 290 (mkt 445 midterm (1))
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mkt 445 midtermchps 1-11 (no8or12)
VISUAL AESTHETICS - CORRECT ANSWER-sense of what is beautiful and what is
not
taste v tasteless
colors w/ meanings in diff culture
COMPETITIVE ADVANTAGE - CORRECT ANSWER-when a co. succeeds in
creating more value for its customers than its competitiors do
Concentration and attention on core business and competence
-brand image
-lower price
-financial strength etc
private ownership, market resources - CORRECT ANSWER-market capitalism
state ownership, market - CORRECT ANSWER-market socialism
private ownership, command - CORRECT ANSWER-centrally planned capitalism
state ownership, command - CORRECT ANSWER-centrally planned socialism
economic systems - CORRECT ANSWER-communism v. pure competition
mixed economies: socialism(china), capitalist(US)
type of gov: monarchy, democracy, tyrnnay?
-type of trade: free trade, trade bloc etc
-Transportation,communications & energy sectors. State, private,or mixed
ownership?
GDP - CORRECT ANSWER-measure of a countries economic activity
GDP=C+I+G+NX
-growth=increases in productivity or vice versa
Trade organizations - CORRECT ANSWER-GATT
replaced by WTO
goal is to create fair trade agreements between member countries
MERCOSUR south America
GCC
ASEAN
ECOWAS
SADC
, Free Trade Area (FTA) - CORRECT ANSWER-a group of countries that remove
trade barriers among themselves (NAFTA)
customs union - CORRECT ANSWER-A group of countries committed to (1)
removing all barriers to the free flow of goods and services between each other and
(2) the pursuit of a common external trade policy.
the common market - CORRECT ANSWER-includes the elimination of internal
barriers to trade, established external barriers to trade, and allows for the free
movement of factors of production
economic union - CORRECT ANSWER-same as common market but coordinates
and harmonizes economic and social policy within the union
-central bank
-extensive political unity
-lead to central gov in time
EU - CORRECT ANSWER-harmonize national laws and regulations so that goods,
services, people,and money could flow freely across nationalboundaries
uses a single currency
27 countries
price transparancy
no customs at national borders
4 p's - CORRECT ANSWER-product,. price. promotion, place
HIGH CONTEXT CULTURE - CORRECT ANSWER-communication: less dirct
emphasis on: human relations
more sensitivity to: non verbals, feelings of others
mexican, greek, arab, jap, chinese
LOW CONTEXT CULTURE - CORRECT ANSWER-communication: detailed,
specific,precise
poorer at decoding: unspoken message, body language
US, Canada, german, swiss
Hofstede's Cultural Dimensions - CORRECT ANSWER-power distance,
individualism V collectivism, achievement v nurturing, uncertainty avoidance, long-v
short term orientation
individualist v collectivist - CORRECT ANSWER--look after own family and interest
us, canada, aus
-People expect the group to look after and protect them; Mexico thailand
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