MAR 4156 Exam 1 Questions with Correct Answers
adaptation Correct Answer-In global marketing, the _______________
approach assumes that products must be adapted in response to different
market conditions.
Standardization Correct Answer-____________ offers the same
products or services in a different country without making and
adaptations to the products.
Ethnocentrism Correct Answer-_______________ sees the home
country as superior, with similarities in foreign countries. ____________
companies assume that their products will work in another country
because it works in their home country.
- Sees only similarities in other countries
- Leads to a standardized or extension approach
Regiocentric Correct Answer-_________________ companies see
similarities and differences in a world region; it is ethnocentric in its
view of the rest of the world.
-Management's goal is to develop an integrated regional strategy.
- A region is the relevant geographic unit
Ex: The NAFTA or European Union market
Some companies serve markets throughout the world but on a regional
basis
Ex: General Motors had four regions for decades
, Polycentric Correct Answer-_____________ is where each country is
unique, and there are differences in foreign countries. These firms are
the opposite of ethnocentrism.
- Each subsidiary develops its own unique business and marketing
strategies
- Often referred to as multinational
- Leads to a localized or adaptation approach that assumes products must
be adapted to local market conditions
Geocentric Correct Answer-______________ is a world view, where
similarities are seen in home and host countries.
- Entire world is a potential market
- Strives for integrated global strategies
-Also known as a global or transnational company
- Retains an association with the headquarters country
- Pursues serving world markets from a single country or sources
globally to focus on select country markets
- Leads to a combination of extension and adaptation elements
Global marketing strategy Correct Answer-______________ is how a
company addresses the extent to which marketing plans and programs
can be extended worldwide.
adaptation Correct Answer-In global marketing, the _______________
approach assumes that products must be adapted in response to different
market conditions.
Standardization Correct Answer-____________ offers the same
products or services in a different country without making and
adaptations to the products.
Ethnocentrism Correct Answer-_______________ sees the home
country as superior, with similarities in foreign countries. ____________
companies assume that their products will work in another country
because it works in their home country.
- Sees only similarities in other countries
- Leads to a standardized or extension approach
Regiocentric Correct Answer-_________________ companies see
similarities and differences in a world region; it is ethnocentric in its
view of the rest of the world.
-Management's goal is to develop an integrated regional strategy.
- A region is the relevant geographic unit
Ex: The NAFTA or European Union market
Some companies serve markets throughout the world but on a regional
basis
Ex: General Motors had four regions for decades
, Polycentric Correct Answer-_____________ is where each country is
unique, and there are differences in foreign countries. These firms are
the opposite of ethnocentrism.
- Each subsidiary develops its own unique business and marketing
strategies
- Often referred to as multinational
- Leads to a localized or adaptation approach that assumes products must
be adapted to local market conditions
Geocentric Correct Answer-______________ is a world view, where
similarities are seen in home and host countries.
- Entire world is a potential market
- Strives for integrated global strategies
-Also known as a global or transnational company
- Retains an association with the headquarters country
- Pursues serving world markets from a single country or sources
globally to focus on select country markets
- Leads to a combination of extension and adaptation elements
Global marketing strategy Correct Answer-______________ is how a
company addresses the extent to which marketing plans and programs
can be extended worldwide.
