Question

Please answer the following questions (true/false)

1. The form and substance of a company's response to international market opportunities depend greatly on management's assumptions or beliefs about the nature of the world.

2. A patent is a distinctive motto that a manufacturer affixes to a particular product or package to distinguish it from goods produced by other manufacturers

3. The ethnocentric company is decentralized in its marketing management whereas the polycentric company is centralized.

4. Gray color is associated with high quality and expensive in the United States, whereas it is considered inexpensive in China and Japan

5. If a foreign country decides to take over banking business from private banks to benefit public and pays adequate payment then it is referred to as nationalization.

6. The term 'polycentric' describes management's belief or assumption that each country in which a company does business is unique

Answer 1

Ans-1 TRUE

Explaination: The form and substance of a company’s response to global market opportunities will depend greatly on management’s assumptions and beliefs about the nature of the world. These beliefs include both conscious and unconscious. Their view can be categorised as enthnocentric, polycentric, regiocentric, and geo centric.
For example In enthnocentric one believes that their country is superior to the rest of the world. This includes arrogance, and feelings of national superiority.

Ans-2 FALSE

Trademark is a distinctive mark, motto or device that a manufacturer stamps, print or affixes to goods it produce'. They help in easy identification product and origins and indicate quality.
While patents prevent others from making or selling the same product or invention.

Ans-3 FALSE

Enthnocentric company is centralized whereas polycentric company is decentralised.
Enthnocentric company is based on a belief in home country superiority. Headquarters believes are applied everywhere, and local knowledge is considered unnecessary. Polycentric company understand cultural, Economic and marketing condition in the world. They believe that each company in which you do business is unique.

Ans-4 TRUE

explanation- In China and Japan grey is associated with inexpensive and low quality whereas in United States it is associated with expensive as well as of high quality and dependable. In United State grey colour is associated with neutrality, confirmaty, boredom, indifference and modesty whereas in China and Japan grey colour means dark,tarnished or represent gloomy weather and emotions.

Ans-5 FALSE

Explanation- Nationalization is the process of transforming private assets into public assets by bringing them under the public ownership of a national government or state not of foreign country.

Ans-6 TRUE

Explanation-Polycentric company believes that each company'you do business is unique. They allow each subsidiary to develop their own marketing strategy to be successful.