Chapter 2 case study Marketing HELP ASAP

Chapter Questions and Activit Concepts: Test Your knowledge 2-1. Describe the market conditions in the home market and those in other countries that influence a firm's decision to enter foreign markets. 2-2. Explain what world trade means. What is the role of the WTO and economic communities in encouraging free trade? What is the role of the World Bank and the International Monetary Fund in global trade? Describe and explain the reasons for protectionism, import quo- tas, embargoes, and tariffs. 2-3. What factors are used to evaluate the economic health of a country? Explain the level of economic develop- ment of countries. What is a bottom-of-the-pyramid (BOP) consumer? How do marketers create products specifically targeted for this group? 2-4. What aspects of the political and legal environment influence a firm's decision to enter a foreign market? Why are human rights issues important to firms in their decisions to enter global markets? Describe what is meant by a country's technological and sociocultural environments. 2-5. What is ethnocentrism? What is xenocentrism? ities 2-6. How is a firm's level of commitment related to its level of control in a foreign market? Describe the four glo- balization strategies representing different levels of involvement for a firm: exporting, contractual agree- ments, strategic alliances, and direct investment. 2-7. What are the arguments for standardization of mar- keting strategies in the global marketplace? What are the arguments for localization? What are some ways a firm can standardize or localize its marketing mix? 2-8. Describe the utilitarianism, rights, fairness or justice, common good, and virtue approaches to ethical deci- sion making. What is ethical relativism? 2-9. Why is sustainability such an important piece of a com- pany's overall marketing strategy? What are some ways that companies can incorporate sustainability into each of the Four Ps of marketing