BUSI 338 International Marketing Final Exam Questions & Answers.
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BUSI 338 International Marketing Final Exam Questions & Answers.
International Marketing - CORRECT ANSWER consists of the activity, institutions, and processes across national borders that create, communicate, deliver, and exchange offerings that have value for stakeholders and society
Key I...
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BUSI 338 International Marketing Final
Exam Questions & Answers.
International Marketing - CORRECT ANSWER consists of the activity, institutions, and processes across
national borders that create, communicate, deliver, and exchange offerings that have value for
stakeholders and society
Key International Marketing questions - CORRECT ANSWER -Where are my current and potential
consumers?
-Does my need-to-have market have boarders?
-Does international activity increase risk?
-What marketing adjustments are or will be necessary?
-What threats from global competitors should I expect?
-How do innovation and entrepreneurship change the global market place?
-What are my the strategic global alternatives?
The importance of world trade - CORRECT ANSWER -within the last decade, world trade represents
140% growth for trade in both merchandise and services
-global growth of trade has outperformed the growth of domestic economies in the past few decades
-international specialization and cross-sourcing have made production highly efficient
*powered through the internet and technology
Trading Blocs - CORRECT ANSWER groups of countries with formalized systems of trading agreements:
-encourage trade relations amoung member countries.
-regulate trade and investment flows with nonmember countries.
ex. NAFTA, EU etc.
,Global Linkages - CORRECT ANSWER - World trade has forged a network of global linkages
-- Binding countries, institutions, and individuals closely
---They have become more intense on an individual level
-Communication has built new international bridges.
Global technological innovation in marketing increases efficiency and effectiveness of activities -
CORRECT ANSWER -Products are produced more quickly
-obtained less expensively from sources worldwide
-distributed at lower cost
-customized to meet diverse clients needs (Adaptation)
-Enable firms to separate their activities by content and context.
The level of global investment has: - CORRECT ANSWER - Resulted in the buildup of international debt
by governments
- Affected the international value of currencies
- Provided foreign capital for firms
- Triggered major foreign direct investment activities
increasing foreign investment indicates that nations, firms, and people grow more dependant on one
another.
Domestic policy factors - CORRECT ANSWER -Policymakers find it hard to isolate domestic economic
activity from international market events.
-These measures have been restrained by international agreements that regulate trade restrictions
-Particularly through the World Trade Organization (WTO)
Currency Flows - CORRECT ANSWER Have set exchange rates, which are the values of currencies relative
to each other
,exchange rates - CORRECT ANSWER now beginning to determine the level of trade
Opportunities and challenges in international marketing - CORRECT ANSWER Firms need to establish
new strategies, plans and way of doing business.
Firms must adapt to the environment
The growth of global business activities offer increased opportunities. International opportunities
require careful exploration. - CORRECT ANSWER -An awareness of global development
-An understanding of their meaning
-A development of capabilities to adjust to change.
Smaller firms are becoming larger global forces - CORRECT ANSWER willing or unwilling all firms are
affected by what happens in the global marketplace
GATT - CORRECT ANSWER General Agreement on Tariffs and Trade
GATS - CORRECT ANSWER General Agreement on Trade in Services
TRIPS - CORRECT ANSWER Trade-Related Aspects of Intellectual Property Rights
Culture - CORRECT ANSWER An integrated system of learned behavior patterns that are distinguishing
characteristics of the member of any given society.
-Learned, shared, and transmitted from one generation to the next.
Acculturation - CORRECT ANSWER Adjusting and adapting to a specific culture other than one's own
(Example: an immigrant moving to Canada)
(Ethnic vs Mainstream)
High-context cultures - CORRECT ANSWER context is as important as to what is being actually said:
-Speaker and the listener rely on common understanding of context. Ex. Japan, Saudi Arabia etc
, associated with collectivism
Low-context cultures - CORRECT ANSWER most info is contained in explicitly in the words
-ex. North America
-Associated with Individualism
Roles of an international manager (in terms of culture) - CORRECT ANSWER -Identifying cross-cultural
and intra-cultural differences.
-Isolating potential opportunities and problems.
Change Agents - CORRECT ANSWER A business that introduces new products or ideas and practices.
-may lead to massive social change in consumption, types of products produced and social organization.
cultural imperialism - CORRECT ANSWER Threatening cultural heritage by bringing in foreign products.
cultural universals - CORRECT ANSWER Manifestations of the total way of life of any group of people
-elements include: bodily adornments, courtship, etiquette, family gestures, jokes, mealtimes, music,
personal names, status differentiation and trade.
Elements of Culture - CORRECT ANSWER -Language (Verbal v. Non-Verbal)
-Religion
-Values and Attitudes
-Manners and Customs
-Material Elements
-Aesthetics
-Education
-Social Institutions
Language - CORRECT ANSWER described as the mirror of culture and is multidimensional by nature.
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