1) Compare and contrast core beliefs/values and secondary beliefs/values. Provide an example of each and discuss the potential impact marketers have on each.
Core beliefs and values are passed on from parents to children and are reinforced by schools, churches, business, and government. Secondary beliefs and values are more open to change. Believing in marriage is a core belief; believing that people should get married early in life is a secondary belief. Marketers have some chance of changing secondary values but little chance of changing core values.
2) Compare and contrast a company’s microenvironment with a company’s macro environment.
Microenvironment consists of factors, which are within the company whereas macro environment consists of factors, which are not within the company; instead they lie outside the company. Microenvironment consists of suppliers, distributors, customers, competitors and other factors in which the business is functioning and macro environment consists of factors such as demographic, financial, cultural, natural, political and technological. Management can control the microenvironment factors whereas macro environment factors are not within the control of the management. They lie outside the control of the management.
3) Discuss the strategies used for adapting products to a global market. Which strategy is best?
The market is becoming more global
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4) Compare and contrast a tariff and a quota.
A tariff is a tax assigned on goods when they are brought (imported) into one country from another country. A quota is a different way of preventing the amount of foreign goods that can come into a country. A quota sets a precise amount or number of a exact product that can be imported or acquired in a given time frame.