GMS 522 COMPREHENSIVE TEST PAPER
QUESTIONS AND VERIFIED ANSWERS
REVIEW SHEET
●● International Marketing
Answer: extending the firm's domestic marketing strategies to
international markets, ignoring the differences between foreign and
domestic consumers
●● Multi-domestic Marketing
Answer: developing individual marketing strategies for each country in
which the company does business
●● Glocal Marketing
Answer: firms seeks to balance global marketing with its emphasis on
standardization & local marketing with its focus on catering to
individual country differences
●● Globalization
Answer: is defined as the integration and inter-dependence of
economies, national institutions, firms and individuals around the world
●● Globalization of Markets
,Answer: the convergence of consumer tastes & preferences around the
world
●● Globalization of Production
Answer: the ability of companies to shift the location of their
manufacturing operations to any country around the world in response to
wage rates and government incentives.
●● 5 Drivers of Globalization
Answer: -Market
-Cost
-Environment
-Competitive
-Technology
●● Economic Integration
Answer: Dimension examines factors such as the trade and investment
flows between countries and the extent to which the country uses policy
measures to restrict these flows
●● Social Integration
Answer: dimension reflects the flow and movement of ideas, people and
info
, ●● Political Integration
Answer: Dimension captures the diffusion of government policies
around the world.
●● Benefits of Globalization
Answer: allows both small & large firms to pursue opportunities outside
their national borders and increase the range of products available to
consumers.
●● Anti-globalization Movement
Answer: criticism on the poor, the environment and women, and the
ability of sovereign states to make independent decisions.
●● Culture
Answer: determines the identity of human groups and represents a
system of learned behaviour patterns that serve to distinguish members
of one group from all others
●● Enculturation
Answer: everyone is encultured into his/her own culture, these lessons
are imparted by family and friends, schools, places of worship, the
government as well as clubs and other social institutions
●● Acculturation
QUESTIONS AND VERIFIED ANSWERS
REVIEW SHEET
●● International Marketing
Answer: extending the firm's domestic marketing strategies to
international markets, ignoring the differences between foreign and
domestic consumers
●● Multi-domestic Marketing
Answer: developing individual marketing strategies for each country in
which the company does business
●● Glocal Marketing
Answer: firms seeks to balance global marketing with its emphasis on
standardization & local marketing with its focus on catering to
individual country differences
●● Globalization
Answer: is defined as the integration and inter-dependence of
economies, national institutions, firms and individuals around the world
●● Globalization of Markets
,Answer: the convergence of consumer tastes & preferences around the
world
●● Globalization of Production
Answer: the ability of companies to shift the location of their
manufacturing operations to any country around the world in response to
wage rates and government incentives.
●● 5 Drivers of Globalization
Answer: -Market
-Cost
-Environment
-Competitive
-Technology
●● Economic Integration
Answer: Dimension examines factors such as the trade and investment
flows between countries and the extent to which the country uses policy
measures to restrict these flows
●● Social Integration
Answer: dimension reflects the flow and movement of ideas, people and
info
, ●● Political Integration
Answer: Dimension captures the diffusion of government policies
around the world.
●● Benefits of Globalization
Answer: allows both small & large firms to pursue opportunities outside
their national borders and increase the range of products available to
consumers.
●● Anti-globalization Movement
Answer: criticism on the poor, the environment and women, and the
ability of sovereign states to make independent decisions.
●● Culture
Answer: determines the identity of human groups and represents a
system of learned behaviour patterns that serve to distinguish members
of one group from all others
●● Enculturation
Answer: everyone is encultured into his/her own culture, these lessons
are imparted by family and friends, schools, places of worship, the
government as well as clubs and other social institutions
●● Acculturation
