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Marketing > Chapter 6 (her pwrpoint) > Flashcards

Chapter 6 (her pwrpoint) Flashcards

1
Q

The processes by which goods, services, capital, people, information, and ideas flow across national borders is known as

A

Globalization

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2
Q

Which country has the largest amount of money in terms of exports but the second largest imports?

A

China

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3
Q

Which country has the largest amount of money in terms of imports but the second largest exports?

A

United States

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4
Q

What are the 4 developments that influence global marketing?

A

1) Economic protectionism by countries
2) Economic integration among countries
3) Global competition for global customers
4) Networked global marketplace
5) Growing economic espionage

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5
Q

Shielding industry within country from foreign competition through use of tariff or quota is known as

A

Protectionism

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6
Q

The tax on goods entering country to raise prices on imports is known as

A

Tariff

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7
Q

The restriction on amount of product allowed to be imported/exported is known as

A

Quota

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8
Q

When countries use protectionism through tariffs this will increase
prices or limit supply in order to decrease world trade?

A

Increase prices

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9
Q

When countries use protectionism through quotas this will increase
prices or limit supply in order to decrease world trade?

A

Limit supply

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10
Q

When transnational groups form to promote free trade and enhance economies. This is known as

A

Economic Integration

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11
Q

Which transnational group consists of 27 countries with eliminated barriers to trade

A

European Union

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12
Q

slide 10

A
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13
Q

when firms originate, produce, and market their products and services worldwide this is known as

A

Global Competition

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14
Q

What are the three types of firms?

A

International
Multinational
Transnational

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15
Q

Which type of firm engages and trade and marketing in different countries as an extension of the marketing strategy from its home country?

A

International Firm

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16
Q

Which type of firms offers the same product and market the same way in other countries with typically very little investment outside of home borders

A

International Firm

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17
Q

Which type of firm views world as consisting of unique markets, each very different from one another?

A

Multinational Firm

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18
Q

What type of marketing strategy has many different product variations, broad names, and advertising programs as countries in which the firm does business?

A

Multidomestic marketing strategy

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19
Q

Which type of firm views the world as one market and emphasizes cultural similarities across markets rather than differences?

A

Transnational Firm

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20
Q

Which marketing strategy standardizes marketing activities when there are cultural similarities and adapting them when cultures differ

A

Global Marketing Strategy

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21
Q

T/F- With a networked global marketplace, it is easier for companies to exchange products, services, information between buyer and seller ANYWHERE, ANY TIME and at LOWER COST

A

True

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22
Q

The clandestine collection of
trade secrets or proprietary information about competitors is known as

A

Espinoage

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23
Q

T/F- Espionage costs US firms $600+billion/year

A

True

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24
Q

T/F- 23 nations routinely target US firms every year for espionage

A

True

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25
Q

What act makes firm theft a federal crime?

A

Economic Espionage Act 1996

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26
Q

Which country is the most corrupt in the world?

A

New Zealand as of 2020
Denmark as of 2023

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27
Q

When looking at general economic environments, market sizes, population growth, and real income this assesses which part of the global markets?

A

Economic Analysis using metrics

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28
Q

When looking at transportation means, channels, communication, and commerce this assesses which part of the global markets?

A

Infrastructure and technology

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29
Q

When looking at power distance, uncertainty avoidance, individualism, masculinity, and time orientation this assesses which part of the global markets?

A

Sociocultural analysis

30
Q

When looking into tariffs, quotas, exchange controls, and trade agreements this assesses which part of the global markets?

A

Government Actions

31
Q

What does the economic environment entail?

A

Gross Domestic Product
Gross National Income
Purchasing Power Parity
Human Development Index

32
Q

slide 23 graph

A
33
Q

T/F- When evaluating real income you must consider average per capita or household income and how income us distributed to determine purchasing power

A

True

34
Q

T/F- As proportion of middle-income households increases, the greater nation’s purchasing power tends to be

A

True

35
Q

basic facilities, services,
and installations needed for a community or society to function is known as

A

Infrastructure

36
Q

What are the 4 key elements of infrastructure?

A

Transportation
Distribution Channels
Communications
Commerce

37
Q

Which type of analysis studies similarities and differences among consumers in two or more nations/societies?

A

Cross Cultural Analysis

38
Q

T/F- The cross cultural analysis is necessary for marketers to conduct if they want to be successful

A

True

39
Q

Which analysis includes analysis of values, customs, symbols, languages and other?

A

Cross Cultural Analysis

40
Q

The preferable modes of conduct that persist over time are known as

A

Values

41
Q

What is considered normal in a country is known as

A

Customs

42
Q

Things that represent ideas and concepts in a specific culture that can evoke deep feelings is known as

A

Cultural Symbiosis

43
Q

How many languages are there in the world?

A

100

44
Q

How many languages do experts estimate are spoken?

A

3,000

45
Q

the belief that one culture is superior to another is known as

A

Cultural Ethnocentricity

46
Q

the belief it is wrong to purchase foreign-made
products can be described as

A

Consumer Ethnocentrism

47
Q

What sociocultural factors make up Hofstede’s cultural dimensions?

A

Power Distance
Uncertainty avoidance
Individualism
Masculinity
Time Orientation
Indulgence

48
Q

Which sociocultural factors focuses on how personal needs and goals are prioritized vs. the needs and goals of the group/clan /organization

A

Individualistic Collectivistic Factors

49
Q

Which sociocultural factors focuses on how masculine societies have different rules for men and women, less so in feminine cultures

A

Masculine/ Feminine factors

50
Q

Which sociocultural factors focuses on how comfortable are people with changing the way they work to live (low UA) or prefer the known systems (high UA)

A

Uncertainty Avoidance Factor

51
Q

Which sociocultural factors focuses on the degree people are comfortable with influencing upwards.
Accept of inequality in distribution on power in society

A

Power Distance

52
Q

Which sociocultural factors focuses on the long term perspective, planning for future, perseverance values vs. short time past and present oriented?

A

Time Perspective Factor

53
Q

Which sociocultural factors focuses on allowing gratification of basic drives related to enjoying life and having fun vs. regulating it through strict social norms

A

Indulgence/ Restraint Factors

54
Q

What are the 4 types of entry for the Global Entry strategy?

A

Exporting
Licensing
Joint Venture
Direct Investment

55
Q

What type of global entry strategy produces products
in one country and
sells them in another country

A

Exporting

56
Q

What type of global entry strategy offers right to a trademark, patent, trade secret or other valued item for a royalty fee?

A

Licensing

57
Q

What type of global entry strategy is a foreign company and local firm invest together with
shared ownership/control /profit

A

Joint Venture

58
Q

What type of global entry strategy has firms invests in and owns foreign subsidiary/division

A

Direct Investment

59
Q

What type of global entry strategy has low risk, low financial commitment, low marketing control, and low profit potential?

A

Exporting

60
Q

What type of global entry strategy has low/mid risk, low/mid financial commitment, low/mid marketing control, and low/mid profit potential?

A

Licensing

61
Q

What type of global entry strategy has Mid/high risk, Mid/high financial commitment, Mid/high marketing control, and mid/high profit potential?

A

Joint Venture

62
Q

What type of global entry strategy has high risk, high financial commitment, high marketing control, and high profit potential?

A

Direct Investment

63
Q

Which type of products can be chosen for a global marketing mix?

A

Product Extension
Product Adaptation
Product Invention

64
Q

Which product consists of selling the same product or service in both the home country market and host country?

A

Product Extension

65
Q

Which product consists of selling a product or service similar to that sold in home country but include minor adaptations

A

Product Adaptation

66
Q

Which product consists of selling totally new products or services?

A

Product Invention

67
Q

What prices are apart of the global marketing mix?

A

Tariffs
Quotas
Anti-dumping laws
Currency exchange policies
Competitive factors

68
Q

What are some of the places a global marketing mix uses?

A

Global distribution networks form complex value chains

Consumers shop at small, family owned stores

Suppliers must be creative in delivering to these outlets

69
Q

How do companies make global communication strategies?

A

They evaluate literacy levels and how they vary by country

Firms choose whether to adapt to language differences

Cultural and religious differences also matter

Try to develop brand names that have no preexisting meaning in local language

70
Q

What kind of brand has the same product formulation, delivers the same benefits to consumers, and uses consistent advertising across multiple countries and cultures?

A

Global Brand

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