GMS 522 MIDTERM EXAM ACTUAL QUESTIONS
AND ANSWERS
Global |Marketing |- | the |systematic |planning, |coordination |and |implementation |of |the
|firm's |marketing |activities |across |national |borders
International |Marketing |- | extending |the |firm's |domestic |marketing |strategies |to
|international |markets, |ignoring |the |differences |between |foreign |and |domestic
|consumers
Multi-domestic |Marketing |- | developing |individual |marketing |strategies |for |each |country
|in |which |the |company |does |business
Glocal |Marketing |- | firms |seeks |to |balance |global |marketing |with |its |emphasis |on
|standardization |& |local |marketing |with |its |focus |on |catering |to |individual |country
|differences
Globalization |- | is |defined |as |the |integration |and |inter-dependence |of |economies,
|national |institutions, |firms |and |individuals |around |the |world
Globalization |of |Markets |- | the |convergence |of |consumer |tastes |& |preferences |around
|the |world
Globalization |of |Production |- | 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 |- | -Market
-Cost
-Environment
-Competitive
-Technology
Economic |Integration |- | 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 |- | dimension |reflects |the |flow |and |movement |of |ideas, |people |and |info
Political |Integration |- | Dimension |captures |the |diffusion |of |government |policies |around
|the |world.
, Benefits |of |Globalization |- | allows |both |small |& |large |firms |to |pursue |opportunities
|outside |their |national |borders |and |increase |the |range |of |products |available |to
|consumers.
Anti-globalization |Movement |- | criticism |on |the |poor, |the |environment |and |women, |and
|the |ability |of |sovereign |states |to |make |independent |decisions.
Culture |- | 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 |- | 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 |- | in |some |circumstances |individuals |must |adjust |to |the |culture |of |others |- |a
|process |referred |to |as |acculturation
Cultural |Literacy |- | detailed |knowledge |of |the |culture |of |the |host |country |which |allows |us |to
|live |and |work |effectively |in |a |new |environment
Ethnocentrism |- | or |the |belief |that |one's |own |culture |is |somehow |superior |to |that |of |others
|will |blind |the |global |marketer |to |potential |foreign |market |opportunities |and |risk |missteps |in
|in |the |implementation |of |the |firm's |international |marketing |strategy
Consumer |ethnocentrism |- | refers |to |the |belief |held |by |some |individuals |that |purchasing
|foreign |products |is |wrong |or |even |immoral
Eight |Elements |of |culture |- | -language
-religion
-values |and |attitudes
-aesthetics
-manners |& |customs
-Education
-Social |institutions
-The |Material
Language |- | -how |messages |are |conveyed
-verbal
-non |verbal
Religion |- | -belief |in |a |higher |power
-provides |individuals |with |a |sense |of |purpose
Values |& |Attitudes |- | -values |are |beliefs |of |norms |that |have |been |internalized |and |are
|shared
-attitudes |are |evaluation |of |alternatives |based |on |these |values
AND ANSWERS
Global |Marketing |- | the |systematic |planning, |coordination |and |implementation |of |the
|firm's |marketing |activities |across |national |borders
International |Marketing |- | extending |the |firm's |domestic |marketing |strategies |to
|international |markets, |ignoring |the |differences |between |foreign |and |domestic
|consumers
Multi-domestic |Marketing |- | developing |individual |marketing |strategies |for |each |country
|in |which |the |company |does |business
Glocal |Marketing |- | firms |seeks |to |balance |global |marketing |with |its |emphasis |on
|standardization |& |local |marketing |with |its |focus |on |catering |to |individual |country
|differences
Globalization |- | is |defined |as |the |integration |and |inter-dependence |of |economies,
|national |institutions, |firms |and |individuals |around |the |world
Globalization |of |Markets |- | the |convergence |of |consumer |tastes |& |preferences |around
|the |world
Globalization |of |Production |- | 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 |- | -Market
-Cost
-Environment
-Competitive
-Technology
Economic |Integration |- | 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 |- | dimension |reflects |the |flow |and |movement |of |ideas, |people |and |info
Political |Integration |- | Dimension |captures |the |diffusion |of |government |policies |around
|the |world.
, Benefits |of |Globalization |- | allows |both |small |& |large |firms |to |pursue |opportunities
|outside |their |national |borders |and |increase |the |range |of |products |available |to
|consumers.
Anti-globalization |Movement |- | criticism |on |the |poor, |the |environment |and |women, |and
|the |ability |of |sovereign |states |to |make |independent |decisions.
Culture |- | 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 |- | 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 |- | in |some |circumstances |individuals |must |adjust |to |the |culture |of |others |- |a
|process |referred |to |as |acculturation
Cultural |Literacy |- | detailed |knowledge |of |the |culture |of |the |host |country |which |allows |us |to
|live |and |work |effectively |in |a |new |environment
Ethnocentrism |- | or |the |belief |that |one's |own |culture |is |somehow |superior |to |that |of |others
|will |blind |the |global |marketer |to |potential |foreign |market |opportunities |and |risk |missteps |in
|in |the |implementation |of |the |firm's |international |marketing |strategy
Consumer |ethnocentrism |- | refers |to |the |belief |held |by |some |individuals |that |purchasing
|foreign |products |is |wrong |or |even |immoral
Eight |Elements |of |culture |- | -language
-religion
-values |and |attitudes
-aesthetics
-manners |& |customs
-Education
-Social |institutions
-The |Material
Language |- | -how |messages |are |conveyed
-verbal
-non |verbal
Religion |- | -belief |in |a |higher |power
-provides |individuals |with |a |sense |of |purpose
Values |& |Attitudes |- | -values |are |beliefs |of |norms |that |have |been |internalized |and |are
|shared
-attitudes |are |evaluation |of |alternatives |based |on |these |values
