MAR 4156 Exam 1 (SU19) USF International Marketing Questions with Correct Answers
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Course
MAR
Institution
MAR
Globalization Correct Answer-The process in which national economies merge into an interdependent, integrated global economic system
Drivers of Globalization Correct Answer-1. Decline in barriers to the free flow of goods, services, and capital that has occurred since the end of World War II
2....
MAR 4156 Exam 1 (SU19) USF International
Marketing Questions with Correct Answers
Globalization Correct Answer-The process in which national economies
merge into an interdependent, integrated global economic system
Drivers of Globalization Correct Answer-1. Decline in barriers to the
free flow of goods, services, and capital that has occurred since the end
of World War II
2. Technological change
Globalization of Markets Correct Answer-The merging of distinctly
separate national markets into a global marketplace
- Falling trade barriers made it easier to sell internationally
- global norm in tastes and preferences
-world market of standardized products worldwide
Globalization of production Correct Answer-sourcing of goods and
services from locations around the world to take advantage of
-national differences in cost or quality of the factors of production (land,
labor, capital)
Pros of Globalization Correct Answer--Lower prices for goods &
services
,-Economic growth stimulation
-Increase consumer income
-Creates jobs
-Countries specialize in goods & services producing efficient production
Cons of Globalization Correct Answer--Destroys manufacturing jobs in
advanced countries
-Wage rates of unskilled workers in advanced countries declines
- income inequality within and between nations
- companies move to countries with fewer labor & environment
regulations
-Loss of sovereignty
Events and Trends Affecting Global Business Correct Answer-- rapid
growth of WTO & new free trade agreements around the world
- acceptance of free market system among developing countries in Latin
Am., Asia, E Europe
- growing impact of internet, mobile phones, & other global media
- mandate to properly manage the resources & global environment for
generations to come ( CSR, Sustainability)
international marketing (definition) Correct Answer-performance of
business activities designed to
- plan
- price
, - promote
- and direct the flow of a company's goods and services to consumers or
users in more than one nation for a profit.
international marketing task Correct Answer-- controllable factors (4 p's
and research)
- domestic environment (uncontrollable)
- foreign environment (uncontrollable)
Self-Reference Criterion (SRC) Correct Answer-unconscious reference
to one's own cultural values, experiences, and knowledge as a basis for
decisions
Dangers of SRC Correct Answer-- Failing to recognize the need to take
action
- Discounting the cultural differences that exist among countries
- Reacting to a situation in a way offensive to your hosts
Ethnocentrism Correct Answer-Notion that one's own culture or
company knows best
Risk of Ethnocentrism Correct Answer-impedes the ability to assess a
foreign market in its true light
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