[MCS 4600] - Midterm Exam Guide - Everything you need to know! (33 pages long)

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 4600
• Professor: Lianne Foti

Document Summary

Self-reference criterion (src) an unconscious reference to o(cid:374)e"s o(cid:449)(cid:374) (cid:272)ultu(cid:396)al (cid:448)alues, e(cid:454)pe(cid:396)ie(cid:374)(cid:272)es a(cid:374)d k(cid:374)o(cid:449)ledge as a basis for decisions. Ethnocentrism the (cid:374)otio(cid:374) that people i(cid:374) o(cid:374)e"s own company, culture or country know best how to do things. Both src and ethnocentrism impede on the ability to assess a foreign market in its true light. To be globally aware: tolerance of cultural difference and knowledge of cultures, history, world market, potential and global economic, social and political trends. Companies w/ high technology and/or marketing-based resources are better than traditional manufacturing companies. Smaller home markets and larger production capacities favour internationalization. Firms w/ key managers well networked internationally are able to accelerate the internationalization process. Relate the foreign environment to the marketing process. The cultural environment within which the marketer must implement marketing plans can change dramatically. Illustrate how culture influences the marketing task from country to country. Research processes and methods are same anywhere.