chapter 1

Question 1

accumulated volume in production, resulting in lower cost price per unit

Answer 1

economies of scale

Question 2

Reusing a resource from one business / country in additional businesses or countries

Answer 2

Economies of scope

Question 3

reflects the trend of firms buying, developing, producing and selling products and services in most countries and regions of the world

Answer 3

globalization

Question 4

Doing business in many countries of the world, but often limited to a certain region

Answer 4

Internationalization

Question 5

Nine strategic windows:
(preparedness for internationalization & Industry globalism)

1. immature & local
2. adolescent & local
3. mature & local
4. Immature & pot global
5. adolescent & pot global
6. mature & pot global
7. immature & global
8. adolescent & global
9. mature & global

Answer 5

1. Stay at home
2. Consolidate your export markets
3. Enter new business
4. seek riches in international markets
5. consider expansion in international markets
6. Prepare for globalization
7. Prepare for a buyout
8. Seek global alliances
9. Strengthen your global position

Question 6

EPRG Framework (4)

Answer 6

Ethnocentric
Polycentric
Regiocentric
Geocentric

Question 7

Ethnocentric

Answer 7

home country is superior and the needs of the home country are most relevanat

Question 8

Polycentric

Answer 8

multidomestic, each country is unique and should therefore be targeted in a different way

Question 9

Regiocentric

Answer 9

world consists of regions, firm tries to integrate and coordinate its marketing program within regions, but not across them

Question 10

Geocentric

Answer 10

Global, firm may offer global product concepts, but with local adaptation (think global, act local)

Question 11

the firm’s commitment to coordinate its marketing activities across national boundaries in order to find and satisfy global customer needs better than the competition

Answer 11

Global marketing

Question 12

the development and selling of products or services intended for the global market, but adapted to suit local culture and behavior (think global, act local)

Answer 12

Glocalization

Question 13

Recognizing the similarities between international markets and integrating them into the overall global strategy

Answer 13

Global integration

Question 14

responding to each market’s needs and wants; cultural differences, regionalism/ protectionism, deglobalization

Answer 14

Market responsiveness

Question 15

Artificial Intelligence (AI)

Answer 15

Use of machine learning in combination with human creativity to create a more engaging customer experience on an individual level, in order to attract, engage and retain customers’ interst and business