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LSUS MBA 776 Exam 1 (Ch. 1-4)
questions with answers
Self-Reference Criterion (SRC) - CORRECT ANSWERS ✔✔unconscious reference to one's own cultural values, experiences, and knowledge as a basis for decisions Enthnocentrism - CORRECT ANSWERS ✔✔the notion that people in one's own company, culture, or country know best how to do things Marketing - CORRECT ANSWERS ✔✔the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large International Marketing - CORRECT ANSWERS ✔✔The 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. Adaptation - CORRECT ANSWERS ✔✔The ability to interpret effectively the influence and impact of each of the uncontrollable environmental
elements on the marketing plan for each foreign market in which they hope to do business Stages of International Marketing Involvement - CORRECT ANSWERS ✔✔1. No Direct Foreign Marketing
- Infrequent Foreign Marketing
- Regular Foreign Marketing
- International Marketing
- Global Marketing No Direct Foreign Marketing - CORRECT ANSWERS ✔✔A company that does not actively cultivate customers outside the country Infrequent Foreign Marketing - CORRECT ANSWERS ✔✔A company with temporary surpluses caused by variations in production levels or demand may send their products for marketing overseas Regular Foreign Marketing - CORRECT ANSWERS ✔✔A firm with permanent productive capacity devoted to the production of goods and services to be marketed in foreign markets International Marketing - CORRECT ANSWERS ✔✔Companies in this stage are fully committed to and involved in international marketing activities.
free trade - CORRECT ANSWERS ✔✔international trade free of government interference Trade barriers - CORRECT ANSWERS ✔✔government-imposed regulations that increase the cost and restrict the number of imported goods Tariffs - CORRECT ANSWERS ✔✔a tax imposed by a government on goods entering at its borders General Agreement on Tariffs and Trade (GATT) - CORRECT ANSWERS ✔✔a 1948 agreement that established an international forum for negotiating mutual reductions in trade restrictions World Trade Organization (WTO) - CORRECT ANSWERS ✔✔a trade organization that replaced the old General Agreement on Tariffs and Trade (GATT) trade barriers - CORRECT ANSWERS ✔✔tariffs, quotas, boycotts and embargoes International Monetary Fund (IMF) - CORRECT ANSWERS ✔✔an international organization that acts as a lender of last resort, providing loans to troubled nations, and also works to promote trade through financial cooperation
World Bank Group - CORRECT ANSWERS ✔✔a group of five closely associated institutions that provides financial and technical assistance to developing countries Manifest Destiny - CORRECT ANSWERS ✔✔A notion held by a nineteenth-century Americans that the United States was destined to rule the continent, from the Atlantic the Pacific. Monroe Doctrine - CORRECT ANSWERS ✔✔an American foreign policy opposing interference in the Western hemisphere from outside powers Roosevelt Corollary - CORRECT ANSWERS ✔✔Roosevelt's 1904 extension of the Monroe Doctrine, stating that the United States has the right to protect its economic interests in South And Central America by using military force The Basel Convention - CORRECT ANSWERS ✔✔an international treaty on the control of transboundary hazardous wastes and their disposal sustainable development - CORRECT ANSWERS ✔✔Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
Power Distance Index - CORRECT ANSWERS ✔✔measures power inequality between superiors and subordinates within a social system Individualism/Collectivism - CORRECT ANSWERS ✔✔the degree to which a person believes that people should be self-sufficient and that loyalty to one's self is more important than loyalty to team or company Uncertainty Avoidance Index - CORRECT ANSWERS ✔✔measures the tolerance of uncertainty and ambiguity among members of a society Rituals - CORRECT ANSWERS ✔✔patterns of behavior and interaction that are learned and repeated Aesthetics - CORRECT ANSWERS ✔✔the arts, folklore, music, drama, dance, dress, and cosmetics Cultural Sensitivity - CORRECT ANSWERS ✔✔being aware that cultural differences exist and have an effect on values, learning, and behavior. planned change - CORRECT ANSWERS ✔✔change activities that are intentional and goal oriented unplanned change - CORRECT ANSWERS ✔✔change that is imposed on the organization and is often unforeseen
cultural congruence - CORRECT ANSWERS ✔✔A marketing strategy in which products are marketed in a way similar to the marketing of products already in the market in a manner as congruent as possible with existing cultural norms.
