Global Marketing Fundamentals Quiz

Global Marketing Principles

• Standardization and localization are principles of global marketing.
• Global marketing is distinguished from domestic marketing by its scope and complexity.

Customer Value

• Customer value is the perceived benefit minus the cost.

Domestic Marketing

• The primary focus of domestic marketing is local market conditions.

Competitive Advantage

• A competitive or differential advantage refers to unique strengths that competitors cannot easily imitate.

Marketing Orientations

• Production orientation focuses on achieving efficiencies in production and distribution.
• Marketing orientation focuses on customer needs and wants.

Globalization and Localization

• Localization involves adapting marketing strategies to fit local market conditions.
• Globalization involves viewing the entire world as a potential market.

Nature of Global Marketing

• The nature of global marketing involves navigating different regulatory environments.

Competitive Advantage in Global Marketing

• A strong brand reputation is an example of a competitive advantage in global marketing.

Digital Marketing and Supply Chain

• Technology-driven demand enhances supply chain visibility.
• New offering realization in a networked digital environment refers to introducing new products and services quickly.
• Digital transformation of marketing involves incorporating digital technologies into marketing practices.

International Social Media Marketing

• Customizing content for different regions is an important tip for international social media marketing.
• Understanding the target audience in each market is a key step in launching international social media.
• Effective international social media marketing requires understanding cultural nuances.

Digital Marketing Management

• Digital marketing management focuses on optimizing digital marketing campaigns.