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GMS522 Midterm Exam | Verified Q&A’s| Latest
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GMS522 Midterm Exam | Verified Q&A’s| Latestethnocentricity - ✔✔the belief that one's own ethnic group or culture is superior
to that of others. this causes people to view other culture in terms of their own,
causing them to overlook import human and environmental differences among
cultures
consumer ethnocentricity - ✔✔you think your culture is superior and therefore,
feel that purchasing foreign products is immoral
e.g. " it is not right to purchase foreign products, because it puts americans out of jobs"
CETSCALE ethnocentricity - ✔✔shimp and sharma (1987): measures the
tendency towards being consumer ethnocentric, useful in understanding negative
consumer reactions towards foreign products
consists of 17 items which consumers rank on a scale of 1 (=strongly agree) to
7 (=strongly disagree)
polycentric - ✔✔highly flexible in making decisions with respect to
marketing, production and technology choices in serving their local customers
,regiocentric - ✔✔firms with a regiocentric attitude view the world as a set of
distinct regional markets, they attempt to coordinate their business activities and
strategies within these regions and not across them
geocentric - ✔✔standardize products and adapt to the number of markets they serve
cultural literacy - ✔✔detailed knowledge of a country that helps the manager
to function effectively within it such as understanding the pace at which business
transactions can be completed
e.g. in mexico business transactions tend to proceed slowly in order to allow time for
the parties to get to know each other more on a personal level, whereas in north
america such personal relationships are not as important and transactions proceed at
a much faster pace
the elements of culture - ✔✔- language
- religion
- values and attitudes
- manners and customs
- material elements
- aesthetics
- education
- social institutions
in global marketing language is important in: - ✔✔- collecting information
- providing access to the local society
- communicating with channel members
- providing a means of interpreting context
,aspects of non-verbal language - ✔✔- time: flexible in many cultures
- space: arabs and latinos may get a little too close
- material possessions: type of suit, watch, car and phone
- friendship patterns: who you know
- business agreements: formal or informal
international marketing - ✔✔the process of planning and conducting transactions
across national borders to create exchanges that satisfy the objectives of individuals
and organizations.
(international sales are seen as secondary to developing the domestic market)
multidomestic marketing strategy - ✔✔the development of separate marketing
strategies for each country that a firm conducts business activities in (if you are in
latin america there is one strategy for brazil, one for argentina, etc.)
the market concept - ✔✔the need to identify and satisfy unique customer needs
in order to increase sales, maximize profits and beat competition
global marketing - ✔✔the marketing activities that are coordinated and integrated
across multiple country markets. integration involves product standardization
(identical brand names, similar advertising messages, consistent packaging, etc.)
why global marketing activities? - ✔✔- expansion
- survival: if business is not conducted by the domestic firm on a global level, at
some point they will be beat by their foreign rivals
glocal marketing - ✔✔attempting to balance standardization with local
customer needs, "think global, act local"
, e.g. mcdonalds - in germany mcdonalds sells beer, whereas in the us they have
different perceptions of alcohol, mcdonalds - does not serve beef on the menu in india
due to hindu community's belief system, coca cola - markets "qoo" in japan
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