Lesson 1292 of 1524
Marketing in a Global Environment
As outlined in this chapter, transportation, technological developments, and business landscape and cultural considerations go hand in hand with globalization.
Practice this chapterAs outlined in this chapter, transportation, technological developments, and business landscape and cultural considerations go hand in hand with globalization. Some companies decide to export products, some determine a joint venture is the best approach, and others elect to invest in building manufacturing facilities.
An additional and vital concern is whether the company will standardize its product offerings or shift products to adapt to cultural differences. Marketers must develop competitive marketing strategies in a realm far different than they’re accustomed to.
additional and vital concern — whether the company will standardize its product offerings or shift products to adapt to cultural differences. joint venture — a business arrangement whereby two or more companies create a single enterprise or project. business landscape — everything internal and external to the business, its industry, and its environment. discretionary income — the money individuals and households are left with after paying taxes and other living expenses, such as food and shelter.
Worked example
What does “additional and vital concern” mean in Marketing in a Global Environment?
- 1Use the wording this chapter gives for additional and vital concern.
- 2The book says: whether the company will standardize its product offerings or shift products to adapt to cultural differences.
- 3Do not use the meaning of joint venture. That term means a business arrangement whereby two or more companies create a single enterprise or project.
Result: whether the company will standardize its product offerings or shift products to adapt to cultural differences
Why. That is the meaning this chapter gives for additional and vital concern.
Do not swap additional and vital concern and joint venture. additional and vital concern means whether the company will standardize its product offerings or shift products to adapt to cultural differences. joint venture means a business arrangement whereby two or more companies create a single enterprise or project.
Practice margin
This chapter
A fresh set from this chapter only. Choose 10 or 20. Multiple choice and fill-in, with no repeat inside the set.