MKT 310 MSU Exam 1 Questions & Answers 2024/2025

MKT 310 MSU Exam 1 Questions & Answers 2024/2025 globalization - ANSWERSthe shift toward a more integrated and interdependent world economy globalization of markets - ANSWERSmerging of historically distinct and separate national markets into one huge global marketplace what are the most global of markets? - ANSWERSmarkets for industrial goods and materials. ex: aluminum, oil, wheat what assets to firms bring with them have served them well in other national markets? - ANSWERStheir products, operating strategies, marketing strategies, and brand names globalization of production - ANSWERSthe sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production factors of production - ANSWERSlabor, energy, land, and capital what are some impediments that make it difficult for firms to achieve the optimal dispersion of their productive activities to locations around the globe? - ANSWERS-formal and informal barriers to trade between countries -barriers to foreign direct investment -transportation costs -issues associated with economic and political risk -sheer managerial challenge of coordinating a globally dispersed supply chain