3.3 AMA PCM Global Marketing Questions and Answers (100% Pass)

Agents Representatives of a given enterprise. Balance of Trade the difference in value over a period of time of a country's imports and exports of merchandise Communication Adaptation Strategy A global communication strategy of fully adapting advertising messages to local markets. Consumer Ethnocentrism The tendency to believe that it is inappropriate, indeed immoral, to purchase foreign-made products. Contract Manufacturing Master01 | October, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ A foreign country's production of private-label goods to which a domestic company then attaches its brand name or trademark; part of the broad category of outsourcing. Countertrade A form of trade in which all or part of the payment for goods or services is in the form of other goods or services. Cultural Relativism Principle that people's beliefs and activities should be interpreted in terms of their own culture Cultural Symbols The icons and objects that communicate organizational values, used by management to convey and sustain shared meaning among employees. Customs The governmental authorities designated to collect duties levied by a country on imports and exports. The term also applies to the procedures involved in such collection. Master01 | October, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ Developing Country a country in which the society is less modern and less industrialized and in which inhabitants are generally poorer than they are in developed countries Direct Investment Entering a foreign market by developing foreign-based assembly or manufacturing facilities Direct Ownership An arrangement whereby employees purchase and hold stocks in the organization that employees them. Dual Adaptation Strategy Involves changing both the product and the message to adapt to a particular culture. Dumping Pricing a product sold in a foreign market below the cost of producing it or at a price lower than in its domestic market. Master01 | October, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ Embargo A complete ban on international trade of a certain item, or a total halt in trade with a particular nation.