Global Marketing Exam Review Questions with Verified Answers

The goal of global marketing is to: - ANSWER-Give the firm a competitive marketing advantage, communication about the products and services, and exchanging them internationally. Global marketing is a ______ response to the intertwined nature of business opportunities. - ANSWER-Proactive. Motives for International/Global Marketing Strategies: - ANSWER--demand oriented. -supply/cost oriented. -follow the customer. -follow the competitor. -financial resources. Demand Oriented Motive Characteristics: - ANSWER--additional sales volume. -compensate saturated home markets. -exploit short product life cycles. Supply/Cost Oriented Motive Characteristics: - ANSWER--access to resources. -cost advantages. "Following the Customer" Motive Characteristics: - ANSWER--suppliers or producers now follow customers abroad due to globalized supply. -unsolicited orders from abroad. "Following the Competitor" Motive Characteristics: - ANSWER--access to financial resources. -profit from investment incentives. -profit from investment opportunities. Drivers and Facilitators of Globalization: - ANSWER--technological changes in global transportation. -internationalization of supply and competition. -global liberalization. -convergence in consumer behavior. -convergence in worldwide consumer trends. -economic convergence toward market economies. Economic convergence: why is it happening? - ANSWER-When people enjoy a higher standard of living, they're more likely to support free market policies and further economic growth.