International Marketing Overview
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Questions and Answers

Which index focuses on the orientation towards authority within a culture?

  • Risk Orientation Index (ROI)
  • Individualism/Collective Index (IDV)
  • Power Distance Index (PDI) (correct)
  • Cultural Distance Index (CDI)

    • What is cultural borrowing?

  • A form of resistance to changes in cultural norms.
  • Learning from other cultures to address specific societal issues. (correct)
  • The process of intentionally changing a culture.
  • The rejection of foreign cultural influences.

    • What is the primary focus of the Uncertainty Avoidance Index (UAI)?

  • The degree of acceptance of ambiguous situations and risks. (correct)
  • The desire for social harmony and collective action.
  • The preference for strict hierarchical structures.
  • The tendency to prioritize individual rights over group interests.

    • Which of the following best describes rituals in a cultural context?

    <p>Learned and repeated behaviors that carry meaning.</p> Signup and view all the answers

    How does ethnocentrism affect perceptions of other cultures?

    <p>It results in an exaggerated perception of the superiority of one’s own culture.</p> Signup and view all the answers

    What does cultural congruence refer to in the context of marketing?

    <p>Marketing products in alignment with existing cultural norms.</p> Signup and view all the answers

    What is planned change in cultural contexts?

    <p>Deliberately changing aspects of culture to meet marketing goals.</p> Signup and view all the answers

    Which term refers to the long-term weather patterns in a region?

    <p>Climate</p> Signup and view all the answers

    Which of the following is NOT considered a cultural value dimension according to Hofstede?

    <p>Social Integration Index (SII)</p> Signup and view all the answers

    What is the human-made part of a human environment encompassing knowledge, beliefs, and customs?

    <p>Culture</p> Signup and view all the answers

    What does James Day Hodgson suggest is essential for anyone doing business in another country?

    <p>Knowing their cultural history</p> Signup and view all the answers

    Which type of knowledge involves appreciating the nuances of cultural traits and patterns?

    <p>Interpretive knowledge</p> Signup and view all the answers

    What term describes the migration of people from rural areas to urban centers for better opportunities?

    <p>Urbanization</p> Signup and view all the answers

    What is an essential aspect of doing business that relates to the global issue affecting humankind?

    <p>Environmental protection</p> Signup and view all the answers

    Which of the following is NOT a part of material culture?

    <p>Social organizations</p> Signup and view all the answers

    How does Hofstede define culture in relation to its shared aspects?

    <p>As a collective phenomenon</p> Signup and view all the answers

    Which principle is primarily about adhering to moral and ethical standards in business dealings?

    <p>Integrity</p> Signup and view all the answers

    In which political system do citizens actively participate in significant governmental decisions?

    <p>Democracy</p> Signup and view all the answers

    What type of legal system is primarily based on ethical codes derived from religious traditions?

    <p>Religious Law</p> Signup and view all the answers

    Which of the following best describes accountability in a business context?

    <p>Taking responsibility for actions</p> Signup and view all the answers

    What system of law is characterized by unwritten laws based on precedents established by courts?

    <p>Common Law</p> Signup and view all the answers

    Which political system encompasses shared ownership and control of wealth and resources?

    <p>Communism</p> Signup and view all the answers

    Which legal system focuses on resolving disputes between private individuals or entities?

    <p>Civil Law</p> Signup and view all the answers

    What is the primary role of government policies and regulations?

    <p>To control various aspects impacting international operations</p> Signup and view all the answers

    What process involves selling goods and services to a company in a foreign country?

    <p>Exporting</p> Signup and view all the answers

    Which of the following best describes a joint venture?

    <p>Two or more businesses collaborate for mutual benefit</p> Signup and view all the answers

    What is the primary focus of international marketing?

    <p>To satisfy the needs and wants of consumers globally</p> Signup and view all the answers

    What role does contract manufacturing play in international marketing?

    <p>A company hires a manufacturer to produce goods on its behalf</p> Signup and view all the answers

    Which risk is associated with fluctuations in exchange rates in international business?

    <p>Currency risks</p> Signup and view all the answers

    What is the definition of franchising in the context of international marketing?

    <p>A contractual agreement to use trademark and technology for a fee</p> Signup and view all the answers

    Which of the following correctly describes direct importing or exporting?

    <p>The company manages all shipment and financing paperwork</p> Signup and view all the answers

    What is a wholly owned subsidiary in international business?

    <p>A business unit owned by a foreign company or acquired completely</p> Signup and view all the answers

    What are cultural imperatives in international marketing?

    <p>Business practices that must be accommodated</p> Signup and view all the answers

    How does M-Time differ from P-Time in cultural contexts?

    <p>M-Time is structured and linear, whereas P-Time is flexible and relational</p> Signup and view all the answers

    Which of the following best describes cultural exclusives?

    <p>Practices that only locals should engage in</p> Signup and view all the answers

    Legal and regulatory differences in international business refer to what?

    <p>Variations in laws governing operations in different regions</p> Signup and view all the answers

    What constitutes corporate social responsibility (CSR) for businesses?

    <p>Meeting ethical and social obligations towards society</p> Signup and view all the answers

    Which of the following is NOT a component of the marketing mix?

    <p>People</p> Signup and view all the answers

    What is the primary focus of business ethics?

    <p>Moral principles governing business conduct</p> Signup and view all the answers

    Cultural adiaphora refers to customs that which of the following describes?

    <p>Are optional but show respect for local customs</p> Signup and view all the answers

    Study Notes

    International Marketing

    • Study begins with understanding how marketing operates internationally.
    • International marketing is a multinational process, where the scope is broadened to multiple countries.
    • International marketing involves the exchange of products across national borders to satisfy consumer needs and wants.

    Scope of International Marketing

    • Firms move into global markets.

    Exporting and Importing

    • Exporting: Selling goods and services to a foreign company.
    • Importing: Purchasing goods from a foreign company.
    • Direct Importing/Exporting: The company handles all paperwork and directly deals with foreign suppliers/purchasers.
    • Indirect Importing/Exporting: The company uses a middleman to handle paperwork and negotiate with suppliers or customers.

    Contract Manufacturing

    • A company hires a manufacturer to handle full production operations.

    Licensing

    • A corporation (licensor) grants a license to another company (licensee) to use its brand, patents, trademarks, technology, etc.

    Franchising

    • A contractual agreement granting the use of technology, trademarks, and patents in exchange for payment.

    Joint Venture

    • Two or more businesses collaborate for a common goal, with mutual benefits.

    Wholly Owned Subsidiary

    • A foreign company establishes a business unit or acquires full stake in a domestic company.

    International Business

    • Connects economies, creating global economic interdependence.

    Cultural Differences

    • Misunderstanding local cultures can hurt business.
    • Navigating foreign laws can be tricky and time-consuming.

    Currency Risks

    • Fluctuations in exchange rates impact profits.

    Logistics

    • Managing supply chains across borders is complicated.

    Culture

    • A society's accepted basis for responding to internal or external events.

    Global Perspectives

    • History informs a nation's mission, interactions with neighbours, and self-perception.
    • Understanding a country's history can improve business interactions.

    History

    • Subjective perceptions of history shape a country's business and political culture.

    Geography

    • Study of Earth's surface, climate, continents, countries, industries, and resources.

    Climate

    • Long-term weather patterns in a region.

    Topography

    • Study of Earth's surface shape and features of planets.

    Environmental Protection

    • Essential aspect of global business; affects humankind.

    Rural/Urban Migration

    • People move from rural to urban areas for education, healthcare, and jobs.

    Immigration

    • Balances high birth rates with low ones, often facing opposition.

    Culture (2)

    • Human-made part of a human environment, encompassing knowledge, beliefs, morals, laws, customs, and human capabilities.
    • Learned collectively by people within a shared environment.

    Knowledge of Cultures

    • Factual knowledge: Easily observable traits.
    • Interpretive knowledge: Understanding and appreciating nuances of cultural traits.

    Origins of Culture

    • Material culture: Technology and production of goods, economics.
    • Social institutions: Family, status, age, education, political structures impact business.

    Beliefs System

    • Shapes product acceptance and promotion. Business customs are often culturally specific.

    Cultural Values

    • Hofstede's seminal work identified individualism/collectivism, power distance, and uncertainty avoidance as key dimensions.

    Rituals

    • Learned and repeated patterns of behavior.

    Language

    • Crucial for effective international communication.

    Aesthetics

    • Symbolic systems (arts, folklore, music, etc.) with cultural meaning.

    Beliefs

    • Often stem from religious training; vary across cultures.
    • Frame of reference: Individual's way of interpreting the world.
    • Cultural change: Changes in cultural conditions.
    • Planned change: Deliberate attempt to impact aspects of culture.

    Cultural Congruence

    • Strategy to align with existing cultural norms to ensure success.

    Resistance to Change

    • Characteristic of culture; involves knowing what is familiar and comfortable. 

    Ethnocentricity

    • Tendency to view one's own culture as superior; this can lead to problems in international businesses.

    Business Custom

    • Practices and techniques commonly accepted for conducting business.
    • Understanding these customs is vital.

    Required Adaptation

    • Adjusting business strategies to foreign market practices.

    Cultural Imperatives

    • Essential customs and practices that companies in a foreign market must recognize and accommodate.

    Cultural Adiaphora

    • Optional customs; acknowledging them is a good gesture.

    Cultural Exclusives

    • Customs strangers should avoid; engaging can be inappropriate.

    Cultural Considerations

    • Adapting communications and operations to align with cultural values.

    Time Perception (M-Time/P-Time)

    • M-Time: Linear, structured time perception.
    • P-Time: Flexible, relational time perception.
    • Variations in laws and regulations across countries impact business operations.

    Marketing Mix

    • Product, Price, Place, Promotion: Key elements in achieving marketing goals.

    Corporate Social Responsibility (CSR)

    • Moral and social obligations companies have to contribute to society.

    Business Ethics

    • Ethical and social principles guiding business activity.

    Business Ethics Fundamentals

    • Fairness, Respect, Honesty, Accountability, Loyalty, Integrity

    International Political Environment

    • Interactions and relationships between states on the global stage.
    • Rules and regulations governing international interactions.

    Political Environment

    • Relations between governments and businesses on a global level.

    Four Political Systems (Examples)

    • Democracy, Dictatorship, Monarchy, Communism
    • Systems of laws, rules, and organizations affecting individuals, businesses, and governments.
    • Religious Law, Customary Law, Common Law, Civil Law

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    International Marketing PDF

    Description

    This quiz covers the fundamentals of international marketing, including the processes of exporting, importing, contract manufacturing, and licensing. Understand how companies operate in global markets and the strategies they employ to meet consumer needs across borders.

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