MKTG 4633 UARK Jensen Exam 1
questions well answered
a lack of consistent and predictable trade policies - correct answer ✔✔ What creates tensions
between countries?
1. Company scandals and layoffs
2. Wars and political unrest
3. Natural disasters
4. Financial and economic disruptions
5. Populist developments - correct answer ✔✔ What 5 world events affect trade? (CWNFP)
1. Growth of the WTO and open trade agreements
2. Developing countries moving toward free trade
3. Internet, cellular, and networked communication
4. a Mandate to manage the global environment for the future - correct answer ✔✔ What are
the 4 trends affecting global business? (GDIM)
there are more foreign customers, competitors, and suppliers - correct answer ✔✔ Why is
globalization of markets increasing?
Competition can come from domestic and foreign firms. - correct answer ✔✔ Competition can
come from domestic and foreign firms.
UK, Japan, the Netherlands, Canada, and France - correct answer ✔✔ List the countries that
come to the U.S. to partner with or take over companies in order
,to plan, price, promote, and direct the flow of goods and services for profit and for consumers
in more than one nation - correct answer ✔✔ What is the definition of international marketing?
-there are unfamiliar problems that require unique strategies
-there are more levels of uncertainty and uncontrollables in foreign markets - correct answer
✔✔ How is international marketing different from domestic marketing?
-the foreign environment (the economic, competitive, political/legal, and cultural forces, the
level of technology, the structure of distribution, and the geography and infrastructure)
-the domestic environment (political/legal forces, economic climate, competitive structure,
structure of distribution, geography and infrastructure, and cultural forces) - correct answer ✔✔
What are the two uncontrollables?
the firm characteristics (product, price, place, promotion, and research) - correct answer ✔✔
What is the one controllable?
-blend all elements to capitalize on anticipated demand
-elements can be altered (like changing market conditions, consumer tastes, and corporate
objectives) - correct answer ✔✔ How can you control elements in the domestic market?
-actively evaluate elements to make adjustments
-determine the outcome of the marketing enterprise - correct answer ✔✔ How can you handle
uncontrollable elements in the domestic environment?
cultural adjustment - correct answer ✔✔ What is the most challenging and important task?
1. Interpret influence of each uncontrollable element on market
-Adjust marketing efforts to cultures in which they are not attuned
, -Be aware of own frame of reference when evaluating markets - correct answer ✔✔ What are
the 3 duties of international marketers?
Foreign marketers must constantly guard against measuring and assessing the markets against
the fixed values and assumptions of their own cultures - correct answer ✔✔ Foreign marketers
must constantly guard against measuring and assessing the markets against the fixed values and
assumptions of their own cultures
-unconscious reference to own cultural values, experiences, and knowledge
-should not be used when making decisions - correct answer ✔✔ What is self-reference
criterion?
-one's own country, culture, or country is best - correct answer ✔✔ What is ethnocentrism?
when affluent countries work with less affluent countries - correct answer ✔✔ When is
ethnocentrism most problematic?
1.Define situation in home-country's cultural traits, habits, or norms.
2.Define situation in foreign-country's cultural traits, habits or norms through consultation with
natives. Make no value judgments.
3.Isolate SRC influence in situation and carefully examine how it complicates the issue.
4.Redefine situation without the SRC influence and solve for optimum business goal solution. -
correct answer ✔✔ What are the 4 steps to be vigilant of SRC and ethnocentrism to avoid
business errors?
-have a tolerance of and willingness to learn about cultural differences
-have knowledge of cultures, history, world market potential, and global, economic, social, and
political trends - correct answer ✔✔ How can you have global awareness?
questions well answered
a lack of consistent and predictable trade policies - correct answer ✔✔ What creates tensions
between countries?
1. Company scandals and layoffs
2. Wars and political unrest
3. Natural disasters
4. Financial and economic disruptions
5. Populist developments - correct answer ✔✔ What 5 world events affect trade? (CWNFP)
1. Growth of the WTO and open trade agreements
2. Developing countries moving toward free trade
3. Internet, cellular, and networked communication
4. a Mandate to manage the global environment for the future - correct answer ✔✔ What are
the 4 trends affecting global business? (GDIM)
there are more foreign customers, competitors, and suppliers - correct answer ✔✔ Why is
globalization of markets increasing?
Competition can come from domestic and foreign firms. - correct answer ✔✔ Competition can
come from domestic and foreign firms.
UK, Japan, the Netherlands, Canada, and France - correct answer ✔✔ List the countries that
come to the U.S. to partner with or take over companies in order
,to plan, price, promote, and direct the flow of goods and services for profit and for consumers
in more than one nation - correct answer ✔✔ What is the definition of international marketing?
-there are unfamiliar problems that require unique strategies
-there are more levels of uncertainty and uncontrollables in foreign markets - correct answer
✔✔ How is international marketing different from domestic marketing?
-the foreign environment (the economic, competitive, political/legal, and cultural forces, the
level of technology, the structure of distribution, and the geography and infrastructure)
-the domestic environment (political/legal forces, economic climate, competitive structure,
structure of distribution, geography and infrastructure, and cultural forces) - correct answer ✔✔
What are the two uncontrollables?
the firm characteristics (product, price, place, promotion, and research) - correct answer ✔✔
What is the one controllable?
-blend all elements to capitalize on anticipated demand
-elements can be altered (like changing market conditions, consumer tastes, and corporate
objectives) - correct answer ✔✔ How can you control elements in the domestic market?
-actively evaluate elements to make adjustments
-determine the outcome of the marketing enterprise - correct answer ✔✔ How can you handle
uncontrollable elements in the domestic environment?
cultural adjustment - correct answer ✔✔ What is the most challenging and important task?
1. Interpret influence of each uncontrollable element on market
-Adjust marketing efforts to cultures in which they are not attuned
, -Be aware of own frame of reference when evaluating markets - correct answer ✔✔ What are
the 3 duties of international marketers?
Foreign marketers must constantly guard against measuring and assessing the markets against
the fixed values and assumptions of their own cultures - correct answer ✔✔ Foreign marketers
must constantly guard against measuring and assessing the markets against the fixed values and
assumptions of their own cultures
-unconscious reference to own cultural values, experiences, and knowledge
-should not be used when making decisions - correct answer ✔✔ What is self-reference
criterion?
-one's own country, culture, or country is best - correct answer ✔✔ What is ethnocentrism?
when affluent countries work with less affluent countries - correct answer ✔✔ When is
ethnocentrism most problematic?
1.Define situation in home-country's cultural traits, habits, or norms.
2.Define situation in foreign-country's cultural traits, habits or norms through consultation with
natives. Make no value judgments.
3.Isolate SRC influence in situation and carefully examine how it complicates the issue.
4.Redefine situation without the SRC influence and solve for optimum business goal solution. -
correct answer ✔✔ What are the 4 steps to be vigilant of SRC and ethnocentrism to avoid
business errors?
-have a tolerance of and willingness to learn about cultural differences
-have knowledge of cultures, history, world market potential, and global, economic, social, and
political trends - correct answer ✔✔ How can you have global awareness?
