High-Context Culture, Common Law System, International Marketing Mgt. – IBUS Exam
The key terms in this International Marketing course include Common Law Systems, Precedent, High-Context Culture, Product Adaptation Strategy, Customer Needs, Low-Income Consumers, Cosmopolitanism , Microeconomic Segmentation Clustering, International Marketing Mgt. – IBUS Exam
Countries with common law systems
rely less on the court system.
promote greater trade.
rely heavily on precedent.
base laws on religious tenets.
A company is about to negotiate an important sales contract in a country with a high-context culture. Best practice is to:
hire a translator.
agree on clear goals of the negotiation prior to beginning.
develop a stronger personal relationship before beginning the negotiation.
agree on a timetable for the negotiation prior to beginning.
The most important consideration in developing a product adaptation strategy is the understanding of
sales promotion.
package design.
private brand labels.
customer needs.
Assume a firm is expanding internationally and will be selling mostly to low-income consumers. In this case, the firm’s products
are more likely to need modification if they are industrial products.
are less likely to need modification.
are more likely to need modification.
are less likely to need modification if they are consumer products.
The research technique to estimate product adoption rates using factors such as lifestyle or cosmopolitanism is known as:
microeconomic segmentation clustering.
lifestyle data analysis.
cross-sectional regression analysis.
product diffusion patterns.
Countries with common law systems
rely less on the court system.
promote greater trade.
rely heavily on precedent.
base laws on religious tenets.
A company is about to negotiate an important sales contract in a country with a high-context culture. Best practice is to:
hire a translator.
agree on clear goals of the negotiation prior to beginning.
develop a stronger personal relationship before beginning the negotiation.
agree on a timetable for the negotiation prior to beginning.
The most important consideration in developing a product adaptation strategy is the understanding of
sales promotion.
package design.
private brand labels.
customer needs.