Exam 1 Flashcards
- What is globalization?
Globalization is expansion and intensification of linkages and flows of people, goods, capital, ideas, and cultures across national borders. It is a tendency toward an international integration of goods, technology, information, labor, and capital.
- The key drivers of globalization
Decline in barriers to the free flow of goods, service, and capital that has occured since the end of World War 2
Technological change
- Worldwide reduction of barriers to trade and investment.
- Market liberation and adoption of free markets
- Industrialization, economic development, and modernization
- integration of world financial markets
- advances in technology
- The globalization of markets
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- The globalization of production
..
- Pros and cons of globalization (explanation to be posted on discussion board)
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- Events and trends affecting global business
..
- What is international marketing?
International marketing can be defined as:
A) the creation of domestic processes that aim to enhance indigenous production and minimize the need for imports.
B) the performance of business activities to sell a company’s goods and services for a profit in more than one nation.
C) the implementation of marketing strategies to deal with the domestic economic climate to improve the investments in home markets.
D) the exchange of goods and services between companies within the boundaries of a country.
E) designing of activities to plan, price, promote, and direct the flow of a company’s goods and services to consumers or users in a single market.
B) the performance of business activities to sell a company’s goods and services for a profit in more than one nation.
- International marketing task
The marketing tasks of an international marketer differs from that of a domestic marketer as:
the structure of distribution is an uncontrollable element for the international marketer
- Primary obstacles to success in international marketing
The primary obstacles to success in international marketing are a person’s ______ and an associated ethnocentrism.
self-reference criterion
The primary obstacles to success in international marketing are a person’s
self-reference criterion
and an
associated ethnocentrism.
- Self-reference criterion (SRC)
is an unconscious reference to one’s own cultural values, experiences, and knowledge as a basis for decisions.
In the United States, unrelated individuals keep a certain physical distance between themselves and others when talking or in groups. Americans do not consciously think about that distance; they just know what feels right without thinking. Someone from another culture would not necessarily understand this and would apply their rules for contact when speaking. The preceding is an illustration of what is called applying a _____ when reviewing the mentioned social custom of contact.
- Ethnocentrism
is the notion that people in one’s own company, culture, or country know best how to do things.
____ impedes the ability of a person to assess a foreign market in its true light.
Which of the following is closely related to reference criterion?
it is a problem that arises when managers from affluent countries work with managers and markets in less affluent countries.
- Stages of international marketing involvement
Which of the following is true regarding the stages of international marketing involvement?
Which of the following best describes the stage of development where the company’s products reach a foreign market without any conscious effort on the part of the marketer?
Stages of international marketing involvement
a firm may be in more than one stage simultaneously
No direct foreign market
- The different types of trade barriers
The different types of trade barriers
Which of the following types of non-tariff barriers strictly falls under the category of specific limitations on trade? embargoes
- Political arguments for government intervention (protectionism)
Political arguments for government intervention (protectionism)
- Institutions
Institutions
- The Uruguay Round resulted in which institution becoming the successor to the GATT?
GATT / World Trade Organization
The Uruguay Round resulted in which institution becoming the successor to the GATT?
- International Monetary Fund
____ and the World Bank Group are two global institutions created primarily to assist nations in becoming and remaining economically viable.
International Monetary Fund
