AGB 318 Study Question and answers
verified to pass
Ethnocentrism - correct answer ✔the notion that people in ones own
company culture or country know best how to do things. problem for American
managers at the beginning of the 21st century bc of Americas dominance in
the world economy during the late 1990's, problem when managers from
affluent countries work with managers and markets in less affluent countries
SRC (self- reference criterion) - correct answer ✔unconcious reference to
ones own cultural values, experiences and knowledge as a basis for
decisions, successful companies overcome this by understandingg the culture
of countries they do business with.
Foreign vs Domestic Uncontrollables - correct answer ✔Foreign
Environment (uncontrollable): Economic Forces, Competitive forces, Level of
technoloy, Structure of distribution, Geography and infrastructure, Cultural
forces, Political Legal forces
Domestic Environment (uncontrollable): Competitive Structure, Economic
climate, political legal forces
Levels of International Marketing (5) - correct answer ✔1. No direct foreign
marketing
2. Infrequent Foreign Marketing
3. Regular Foreign Marketing
4. International Marketing
5.Global Marketing
Walmart's International Experiences - correct answer ✔fail in Germany and
South Korea, has to find success overseas as home market shrinks. running
, out of room to grow at home, no cannibalization. failed in Germany and S
Korea after it realized that its low price merchandise offerings and big box no
frills stores didnt really appeal to those consumers. sell live seafood in China,
India partner with liason partner but then break up with Bharti Enterprises.
Investing problems in India, Disagreements on price in Russia, Friendly clerks
and love of local markets in Germany, Not enough food and beverages in S
Korea. Walmart succeeded and Target didnt because Target shut their stores
down to revamp and lost the habitual shoppers and didnt listen to the
Canadian market
History of Free Trade - correct answer ✔Silk Road (pathway to ancient trade
routes that linked E to W, silk originated in CHina , transfer ideas philosophies
and info, variety of routes including by sea), Spice Trade (production of spices
across East and Europeans wanted in. Christopher Columbus in America
looking for route to india to access spice trade, compass invented Dutch
companies were experiencing tremendous profits and combined to form the
Dutch East India Company which is considered the first multinational
company), Free Trade Skirmishes (protectionist policies, Japan National
Seclusion policy concerns about coloniation and exposure to W ideals, British
Corn Laws keep domestic prices artificially high, China British Opium War to
CHina outlawing opium trade and destroying British drug reserves), 1st Half of
the 20th C (2 world wars led to significant economic and physical destruction
in Europe, Great Depression, policies turned inward and tariffs worsened the
Great Depression and impeding Europes recovery after WW1), Mid 20th
Century (return of soldiers led to prodution beyond domestic capacity,
Marshall Plan gave money to Europe to purchase goods produced in US and
promote global stability, export and market internationally to supply new
demand, GATT General Agreement on Tariffs adn Trade was signed by 23
countries in 1948, first multilateral free trade agreement, ecourage capitalism
globally), Post- 1960s (US main economic force internationally, increasing
competition as European companies recover, limit direct foreign investment
due to concern over the growing US multinational corporations, US
domination ends, US recession by 2000s countries who were developed
became industrialized, export oriented growth and state owned international
companies,economic ppower has become more balanced across the globe,
measuring gross GDP based on purchasing powe
verified to pass
Ethnocentrism - correct answer ✔the notion that people in ones own
company culture or country know best how to do things. problem for American
managers at the beginning of the 21st century bc of Americas dominance in
the world economy during the late 1990's, problem when managers from
affluent countries work with managers and markets in less affluent countries
SRC (self- reference criterion) - correct answer ✔unconcious reference to
ones own cultural values, experiences and knowledge as a basis for
decisions, successful companies overcome this by understandingg the culture
of countries they do business with.
Foreign vs Domestic Uncontrollables - correct answer ✔Foreign
Environment (uncontrollable): Economic Forces, Competitive forces, Level of
technoloy, Structure of distribution, Geography and infrastructure, Cultural
forces, Political Legal forces
Domestic Environment (uncontrollable): Competitive Structure, Economic
climate, political legal forces
Levels of International Marketing (5) - correct answer ✔1. No direct foreign
marketing
2. Infrequent Foreign Marketing
3. Regular Foreign Marketing
4. International Marketing
5.Global Marketing
Walmart's International Experiences - correct answer ✔fail in Germany and
South Korea, has to find success overseas as home market shrinks. running
, out of room to grow at home, no cannibalization. failed in Germany and S
Korea after it realized that its low price merchandise offerings and big box no
frills stores didnt really appeal to those consumers. sell live seafood in China,
India partner with liason partner but then break up with Bharti Enterprises.
Investing problems in India, Disagreements on price in Russia, Friendly clerks
and love of local markets in Germany, Not enough food and beverages in S
Korea. Walmart succeeded and Target didnt because Target shut their stores
down to revamp and lost the habitual shoppers and didnt listen to the
Canadian market
History of Free Trade - correct answer ✔Silk Road (pathway to ancient trade
routes that linked E to W, silk originated in CHina , transfer ideas philosophies
and info, variety of routes including by sea), Spice Trade (production of spices
across East and Europeans wanted in. Christopher Columbus in America
looking for route to india to access spice trade, compass invented Dutch
companies were experiencing tremendous profits and combined to form the
Dutch East India Company which is considered the first multinational
company), Free Trade Skirmishes (protectionist policies, Japan National
Seclusion policy concerns about coloniation and exposure to W ideals, British
Corn Laws keep domestic prices artificially high, China British Opium War to
CHina outlawing opium trade and destroying British drug reserves), 1st Half of
the 20th C (2 world wars led to significant economic and physical destruction
in Europe, Great Depression, policies turned inward and tariffs worsened the
Great Depression and impeding Europes recovery after WW1), Mid 20th
Century (return of soldiers led to prodution beyond domestic capacity,
Marshall Plan gave money to Europe to purchase goods produced in US and
promote global stability, export and market internationally to supply new
demand, GATT General Agreement on Tariffs adn Trade was signed by 23
countries in 1948, first multilateral free trade agreement, ecourage capitalism
globally), Post- 1960s (US main economic force internationally, increasing
competition as European companies recover, limit direct foreign investment
due to concern over the growing US multinational corporations, US
domination ends, US recession by 2000s countries who were developed
became industrialized, export oriented growth and state owned international
companies,economic ppower has become more balanced across the globe,
measuring gross GDP based on purchasing powe
