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PoM Ch8
Principles of Marketing Chapter 8
| Question | Answer |
|---|---|
| Gross domestic product (GDP) | Monetary measure of the market value of all the final goods and services produced in a period of time |
| Gross national income (GNI) | Monetary measure of the market value of all the final goods and services produced in a period of time, plus net receipts from abroad of wages and salaries and of property income, plus net taxes and subsidies receivable from abroad |
| Human Development Index | An indicator of quality of life in the countr including life expectancy at birth, educational attainment, and whether average incomes are sufficient to meet the basic needs of life in the country |
| What is the role of infrastructure and technology in global marketing? | Transportation, channels, communication, commerce |
| Infrastructure | The basic facilities, services, and installations needed for a community or society to function, such as transportation and communications systems, water and power lines, and public institutions such as schools, post offices, and prisons |
| Quota | Designates maximum quantity of a product that may be brought into a country during a specified time period |
| Tariff | A tax levied on a good imported into a country |
| Trade agreement | An intergovernmental agreement designed to manage and promote trade activities for a specific region |
| Exchange control | Regulation of a country's currency exchange rate, the measure of how much one currency is worth in relation to another |
| What are Hofstede's cultural orientations? | Power distance, Uncertainty avoidance, Individualism/collectivism, masculinity vs femininity, time orientation, indulgence |
| Power distance | Willingness to accept social inequality as natural |
| Uncertainty avoidance | The extent to which the society relies on orderliness, consistency, structure, and formalized procedures to address situations that arise in daily life |
| Individualism/collectivism | Perceived obligations to and dependence on groups |
| Masculinity vs femininity | The extent to which dominant values are male oriented. Lower masculinity ranking indicates men and women are treated equally in all aspects of society. |
| Time orientation | Country that tends to have long-term orientation values long-term commitments and is willing to accept a longer time horizon |
| Indulgence | The extent to which society allows for the gratification of fun and enjoyment needs or else suppresses and regulates such pursuits |
| What are the 4 global entry strategies? | Direct investment, joint venture, franchising, exporting |
| Direct investment | Investment in a foregin business enterprise designed to acquire a controlling interest in this enterprise |
| Joint venture | Business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task |
| Franchising | Obtaining a license (franchise) that a party (franchisee) acquires in order to sell a product or provide a service under the business' (franchiser) name, have access to business proprietary knowledge, processes, and trademarks |
| Exporting | Goods produced in one country are shipped to another country for future sale or trade |
Created by:
ltt
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