LSUS MBA 776 Exam 1 (Ch. 1-4): Essential Questions
With Correct Answers
Self-Reference Criterion (SRC) Correct Answer - unconscious reference
to one's own cultural values, experiences, and knowledge as a basis for
decisions
Enthnocentrism Correct Answer - the notion that people in one's own
company, culture, or country know best how to do things
Marketing Correct Answer - the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging offerings
that have value for customers, clients, partners, and society at large
International Marketing Correct Answer - The performance of business
activities designed to plan, price, promote, and direct the flow of a company's
goods and services to consumers or users in more than one nation for a profit.
Adaptation Correct Answer - The ability to interpret effectively the
influence and impact of each of the uncontrollable environmental elements on
the marketing plan for each foreign market in which they hope to do business
Stages of International Marketing Involvement Correct Answer - 1. No
Direct Foreign Marketing
2. Infrequent Foreign Marketing
3. Regular Foreign Marketing
4. International Marketing
5. Global Marketing
No Direct Foreign Marketing Correct Answer - A company that does not
actively cultivate customers outside the country
Infrequent Foreign Marketing Correct Answer - A company with
temporary surpluses caused by variations in production levels or demand
may send their products for marketing overseas
, Regular Foreign Marketing Correct Answer - A firm with permanent
productive capacity devoted to the production of goods and services to be
marketed in foreign markets
International Marketing Correct Answer - Companies in this stage are
fully committed to and involved in international marketing activities.
Global Marketing Correct Answer - A marketing strategy that
consciously addresses customers, markets, and competition throughout the
world.
Controllable Elements Correct Answer - product, price, promotion,
distribution, and research
Uncontrollable Elements Correct Answer - Economic climate,
competitive structure, political and legal forces, cultural forces, geography and
infrastructure
Global awareness Correct Answer - 1. Tolerance of cultural differences
2. Knowledge of cultures, history, world market potential and global
economic, social and political trends
balance of payments Correct Answer - the system of accounts that
records a nation's international financial transactions
Protectionism Correct Answer - the use by nations of legal barriers,
exchange barriers, and psychological barriers to restrain entry of goods from
other countries
free trade Correct Answer - international trade free of government
interference
Trade barriers Correct Answer - government-imposed regulations that
increase the cost and restrict the number of imported goods
Tariffs Correct Answer - a tax imposed by a government on goods
entering at its borders
With Correct Answers
Self-Reference Criterion (SRC) Correct Answer - unconscious reference
to one's own cultural values, experiences, and knowledge as a basis for
decisions
Enthnocentrism Correct Answer - the notion that people in one's own
company, culture, or country know best how to do things
Marketing Correct Answer - the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging offerings
that have value for customers, clients, partners, and society at large
International Marketing Correct Answer - The performance of business
activities designed to plan, price, promote, and direct the flow of a company's
goods and services to consumers or users in more than one nation for a profit.
Adaptation Correct Answer - The ability to interpret effectively the
influence and impact of each of the uncontrollable environmental elements on
the marketing plan for each foreign market in which they hope to do business
Stages of International Marketing Involvement Correct Answer - 1. No
Direct Foreign Marketing
2. Infrequent Foreign Marketing
3. Regular Foreign Marketing
4. International Marketing
5. Global Marketing
No Direct Foreign Marketing Correct Answer - A company that does not
actively cultivate customers outside the country
Infrequent Foreign Marketing Correct Answer - A company with
temporary surpluses caused by variations in production levels or demand
may send their products for marketing overseas
, Regular Foreign Marketing Correct Answer - A firm with permanent
productive capacity devoted to the production of goods and services to be
marketed in foreign markets
International Marketing Correct Answer - Companies in this stage are
fully committed to and involved in international marketing activities.
Global Marketing Correct Answer - A marketing strategy that
consciously addresses customers, markets, and competition throughout the
world.
Controllable Elements Correct Answer - product, price, promotion,
distribution, and research
Uncontrollable Elements Correct Answer - Economic climate,
competitive structure, political and legal forces, cultural forces, geography and
infrastructure
Global awareness Correct Answer - 1. Tolerance of cultural differences
2. Knowledge of cultures, history, world market potential and global
economic, social and political trends
balance of payments Correct Answer - the system of accounts that
records a nation's international financial transactions
Protectionism Correct Answer - the use by nations of legal barriers,
exchange barriers, and psychological barriers to restrain entry of goods from
other countries
free trade Correct Answer - international trade free of government
interference
Trade barriers Correct Answer - government-imposed regulations that
increase the cost and restrict the number of imported goods
Tariffs Correct Answer - a tax imposed by a government on goods
entering at its borders
