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Business Fundamentals was developed by the Global Text Project, which is working to create open-content electronictextbooks that are freely available on the website http://globaltext.terry.uga.edu. Distribution is also possible viapaper, CD, DVD, and via this collaboration, through Connexions. The goal is to make textbooks available to the manywho cannot afford them. For more information on getting involved with the Global Text Project or Connexions email us atdrexel@uga.edu and dcwill@cnx.org.

Editor: Dr John Burnett (Daniels College of Business, University of Denver, USA)

Reviewer: Dr Asit Sarkar (University of Saskatchewan, Canada)

  • What is a competitive advantage? How does marketing contribute to the creation of a competitive advantage?
  • Describe the reasons for studying marketing.
  • What adjustments are necessary as you apply marketing principles to various cultures/countries?
  • List the steps in the market segmentation process.
  • What is the value in conducting formal marketing research?
  • Discuss several reasons why marketers continue to have a difficult time understanding, predicting, and explaining consumer behavior.
  • Present a diagram of the consumer decision process. What is the role of marketing in each stage of this process.
  • Briefly describe the major strategies a firm might use to enter a foreign market.
  • How does the cultural environment affect international marketing activities?
  • Why is marketing critical to the success of a business?

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Source:  OpenStax, Business fundamentals. OpenStax CNX. Oct 08, 2010 Download for free at http://cnx.org/content/col11227/1.4
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