GB 350 Exam 2 (Cascio - Ole Miss)
Global Vision - CORRECT ANSWER-Recognizing and reacting to international
marketing opportunities
Using effective global marketing strategies
Being aware of threats from foreign competitors in all markets
Gross Domestic Product - CORRECT ANSWER-total market value of all FINAL goods
and services produced in a country for a given period
Cultural Dimensions - CORRECT ANSWER-Power Distance Index
Individualism (vs Collectivism)
Masculinity (vs Femininity)
Uncertainty Avoidance Index
Long Term Orientation
Indulgence (vs Restraint)
Culture - CORRECT ANSWER-"collective programming of the mind distinguishing the
members of one group or category of people from others."
Power Distance Index - CORRECT ANSWER-extent to which less powerful members of
a society accept and expect the power is to be distributed unequally
Individualism (vs Collectivism) - CORRECT ANSWER-extent to which members feel
responsible to themselves and immediate families (vs. others in the group)
Masculinity (vs Femininity) - CORRECT ANSWER-extent to which members prioritize
achievement, assertiveness and material rewards for success (vs cooperation, caring
for the weak and quality of life)
Uncertainty Avoidance Index - CORRECT ANSWER-extent to which members want to
maintain control over future events (even if they cannot)
Long Term Orientation - CORRECT ANSWER-extent to which members value adapting
to current changes in the environment to prepare for the future
Indulgence (vs Restraint) - CORRECT ANSWER-extent to which members value need
gratification
, Enthocentrism - CORRECT ANSWER-viewing outside others and their cultural
traditions through the lens of our own culture
Cultural factors - CORRECT ANSWER-Language/slang
Customs/traditions
Expectations for appropriate behavior in business interactions
Demographics to consider - CORRECT ANSWER-Population growth
Population density
Age trends
Household income
Household status
Gender
______ and culture must be considered together - CORRECT ANSWER-Demographics
Are demographics important? - CORRECT ANSWER-YES
Multinationals - CORRECT ANSWER-firms that engage in international trade beyond
exporting and importing
Tariff - CORRECT ANSWER-Tax on a particular class of product or service to protect
domestic competition
Commonly used legal action
Example: WTO, China trade war
Absolute Quota - CORRECT ANSWER-maximum number of products that can be
imported in a given period
Example: Steel imports from Argentina, South Korea and Brazil can not exceed 500k
kgs/quarter
Tariff Rate Quota - CORRECT ANSWER-maximum numbers of products that can be
imported at a reduced tariff
Example: Imported tuna in airtight containers: 14.9 kgs @ 6%; excess @ 12.5%
Embargo - CORRECT ANSWER-ban on product/service trade activity with another
country
Example: US Cuba Embargo
US Free Trade Agreements - CORRECT ANSWER-Remove legal barriers from
international trade among their members.
Global Vision - CORRECT ANSWER-Recognizing and reacting to international
marketing opportunities
Using effective global marketing strategies
Being aware of threats from foreign competitors in all markets
Gross Domestic Product - CORRECT ANSWER-total market value of all FINAL goods
and services produced in a country for a given period
Cultural Dimensions - CORRECT ANSWER-Power Distance Index
Individualism (vs Collectivism)
Masculinity (vs Femininity)
Uncertainty Avoidance Index
Long Term Orientation
Indulgence (vs Restraint)
Culture - CORRECT ANSWER-"collective programming of the mind distinguishing the
members of one group or category of people from others."
Power Distance Index - CORRECT ANSWER-extent to which less powerful members of
a society accept and expect the power is to be distributed unequally
Individualism (vs Collectivism) - CORRECT ANSWER-extent to which members feel
responsible to themselves and immediate families (vs. others in the group)
Masculinity (vs Femininity) - CORRECT ANSWER-extent to which members prioritize
achievement, assertiveness and material rewards for success (vs cooperation, caring
for the weak and quality of life)
Uncertainty Avoidance Index - CORRECT ANSWER-extent to which members want to
maintain control over future events (even if they cannot)
Long Term Orientation - CORRECT ANSWER-extent to which members value adapting
to current changes in the environment to prepare for the future
Indulgence (vs Restraint) - CORRECT ANSWER-extent to which members value need
gratification
, Enthocentrism - CORRECT ANSWER-viewing outside others and their cultural
traditions through the lens of our own culture
Cultural factors - CORRECT ANSWER-Language/slang
Customs/traditions
Expectations for appropriate behavior in business interactions
Demographics to consider - CORRECT ANSWER-Population growth
Population density
Age trends
Household income
Household status
Gender
______ and culture must be considered together - CORRECT ANSWER-Demographics
Are demographics important? - CORRECT ANSWER-YES
Multinationals - CORRECT ANSWER-firms that engage in international trade beyond
exporting and importing
Tariff - CORRECT ANSWER-Tax on a particular class of product or service to protect
domestic competition
Commonly used legal action
Example: WTO, China trade war
Absolute Quota - CORRECT ANSWER-maximum number of products that can be
imported in a given period
Example: Steel imports from Argentina, South Korea and Brazil can not exceed 500k
kgs/quarter
Tariff Rate Quota - CORRECT ANSWER-maximum numbers of products that can be
imported at a reduced tariff
Example: Imported tuna in airtight containers: 14.9 kgs @ 6%; excess @ 12.5%
Embargo - CORRECT ANSWER-ban on product/service trade activity with another
country
Example: US Cuba Embargo
US Free Trade Agreements - CORRECT ANSWER-Remove legal barriers from
international trade among their members.
