MIB International Marketing Strategy 3

Question 1

The EPRG framework in international marketing describes four orientations. What does 'G' stand for?

Accepted Answer

Geocentric

Answer

In the EPRG (Ethnocentric, Polycentric, Regiocentric, Geocentric) framework, Geocentric orientation views the world as a single market and seeks the best strategies globally.

Question 2

Which type of international advertising standardization maintains a consistent message worldwide but adapts creative execution locally?

Accepted Answer

Pattern standardization

Answer

Pattern standardization uses a consistent global message and strategy while allowing local creative adaptation in visuals, language, or cultural references.

Question 3

What does 'psychic distance' refer to in international marketing and business?

Accepted Answer

Perceived differences between home and target country

Answer

Psychic distance refers to the perceived differences between the home country and a foreign market, including cultural, linguistic, political, and economic factors.

Question 4

Which market research challenge is most unique to international marketing compared to domestic marketing?

Accepted Answer

Cross-cultural measurement equivalence

Answer

Cross-cultural measurement equivalence ensures that survey constructs, scales, and meanings translate consistently across different cultural contexts—a challenge absent in domestic research.

Question 5

A company uses one brand name globally but adjusts product features for each market. This strategy is called:

Accepted Answer

Product adaptation with brand standardization

Answer

Product adaptation with brand standardization maintains a consistent global brand identity while modifying product attributes to meet local market needs.

MIB - Master of International Business Practice Test

MIB - Master of International Business Practice Test

MIB International Marketing Strategy 3