Explain Geert Hofstede's model.
What will be an ideal response?
Geert Hofstede has identified four dimensions along which managers in multinational corporations tend to view cultural differences. Drawing on Hofstede's research, it is interesting to learn how nations differ on the dimensions of individualism/collectivism and power distance. Countries like Australia, Great Britain, and the United States are individualistic and exhibit small power distance. In other words, employees from these cultures believe in individual achievement and rewards; and while they respect their superiors, they will disagree with and question orders if they feel such behavior is warranted. In contrast, Egypt, Mexico, and Malaysia are collectivist and are characterized by large power distance. Employees from these collectivist societies will often place the needs of their group and family ahead of individual needs. When attempting to motivate these individuals, expatriate managers should consider using group-based rewards and recognition programs. Also, employees from large power distance cultures will be less willing to openly question or provide feedback regarding their superiors' ideas and orders.
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Reinforcement advertising aims to stimulate repeat purchase of products and services
Indicate whether the statement is true or false
Marketing managers need the information provided by marketing research for many reasons. Which of the following is not a reason to need information provided by marketing research?
A) Firms have become national and international in scope. B) Consumers have become more affluent and sophisticated. C) Competition has become more intense. D) All of the above are reasons to need information provided by marketing research.
Match each term with the correct statement below.
a. pull strategy b. sweepstakes c. price skimming d. selective advertising e. push strategy f. penetration pricing 1. A majority of the advertising 2. Setting a price high during the introduction stage of the product life cycle 3. A firm promotes its product directly to consumers 4. Initially pricing a product below that of the competition in order to gain market share 5. A firm strongly promotes its product to wholesalers and retailers
Marvel Woodcraft makes furniture. Marvel's expected sales are 20,000 bookcases for the quarter. The company begins the quarter with inventory of 3,000 bookcases and wants to have enough finished bookcases on hand at the end of the quarter to provide for 15% of the next quarter's expected sales of 24,000 bookcases. Ignoring any beginning inventory, if 50 board feet are required for each bookcase and the wood costs $2 per board foot, how much will Marvel pay for the bookcases it needs produce during the quarter?
A. $600,000 B. $2,060,000 C. $2,600,000 D. $360,000 E. $1,760,000