QUESTIONS ANSWERS VERIFIED GRADE A

BCOR 2201 - MARKETING MIDTERM 1 EXAM newest actual | QUESTIONS & ANSWERS (VERIFIED) | GRADE A+

Values (Cross-Cultural Analysis) - ---Answers---Power distance, individualism, masculine/feminine, risk-taking, long- term orientation, indulgence.

Customs (Cross-Cultural Analysis) - ---Answers---What is considered normal and expected about the way people do things in a specific country.

Symbol (Cross-Cultural Analysis) - ---Answers---Things that represent ideas and concepts in a specific culture.

Language (Cross-Cultural Analysis) - ---Answers--- Differences in language serve as a communication/marketing barrier.

Ethnocentricity (Cross-Cultural Analysis) - ---Answers---The belief that regardless of quality, purchasing products from one's country is better than purchasing from another country.

Global Market Entry Strategies - ---Answers---Exporting (Least Risk and Least Potential Profit) Licensing 1 / 2

Joint-Venture Direct Investment (Most Risk and Most Potential Profit)

Exporting - ---Answers---Making product in home country and shipping to another country.

Licensing - ---Answers---A company offers the right to a trademark, patent, trade secret, or other similarly valued item of intellectual property in return for a royalty or a fee.

Joint-Venture - ---Answers---Companies from both countries partner together.

Direct Investment - ---Answers---Company directly opens up stores in new global countries.

Marketing to the Bottom of the Pyramid - ---Answers--- Affordability Availability Acceptance Awareness

Purpose of Marketing Research - ---Answers---To improve marketing decisions by reducing risk.

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