18 Questions
What does the configuration of a firm's activities worldwide refer to?
The location in the world where each activity in the value chain is performed
What is the main goal of coordination in international business?
To link activities in different countries
According to the TCA model, what is an important consideration for a marketing manager when selecting a foreign market?
The cultural differences between countries
What is a potential advantage of geographically dispersed activities?
Increased access to new markets and resources
In international marketing, what is the primary role of an intermediate in sales channel arrangements?
To facilitate the distribution of products to foreign markets
What is a key challenge in cross-cultural management?
Managing cultural differences between countries
What is the primary focus of International Marketing Management?
Adapting marketing strategies to cross-cultural differences
What is a key driver of globalization?
Favorable trade policies
According to Philip Kotler, what are the key elements of marketing?
Right products, right people, right place, right time, right price
What is a key characteristic of Global Marketing Management?
Viewing the world as one market
What is a key driver of globalization potential?
Common customer needs
What is an industry cost driver of globalization?
Global scale economies
What is a key factor in determining the globalization potential of an industry?
Standardization of marketing mix
According to Yip (1991), what are the two dimensions of standardization?
Process standardization and content standardization
What is the term for a company's ability to coordinate its activities across different countries?
Global market participation
What is the name of the concept that refers to a company's ability to use its experience and knowledge gained in one market to its advantage in another market?
Competitive leverage
What is the term for the process of adjusting a company's marketing mix to fit the unique conditions of a foreign market?
Adaptation of marketing mix
What is the concept that refers to the idea that companies from small and open economies need to adapt their marketing strategies to fit the unique conditions of foreign markets?
Marketing strategies for foreign expansion
Learn about the configuration and coordination of a firm's activities worldwide, including the location and geographic distribution of value chain activities.
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