LSUS MBA 776 EXAM 1 (CH. 1-4) ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

LSUS MBA 776 EXAM 1 (CH. 1-4) ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Self-Reference Criterion (SRC) Unconscious reference to one's own cultural values, experiences, and knowledge as a basis for decisions Enthnocentrism The notion that people in one's own company, culture, or country know best how to do things Marketing The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at largeInternational Marketing 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 - 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. - Cultural adjustment: the most challenging and important task Duties of international marketers - 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.• Often based off acculturation in home country. Stages of International Marketing Involvement More reactive and less strategic 1. No Direct Foreign Marketing 2. Infrequent Foreign Marketing More involved in strategic planning 3. Regular Foreign Marketing 4. International Marketing 5. Global Marketing