According to Theodore Levitt (‘The globalization of markets’, 1983, in De Wit & Meyer, 2010, Reading 10.1), what is the driving force behind the globalization of markets?
The globalization of technology
The rise of the multinational corporation
The rise of the global corporation
The rise of niche markets, e.g. Chinese food, across the world.
Why, according to Levitt (‘The globalization of markets’, 1983, in De Wit & Meyer, 2010, Reading 10.1), are markets becoming more global?
Everyone wants to be American
It is too difficult to serve local needs
Consumer preferences are becoming more alike
The global corporation is selling similar products globally.
According to Levitt (‘The globalization of markets’, 1983, in De Wit & Meyer, 2010, Reading 10.1), which of the following statements is TRUE?
The multinational corporation is taking over from the global corporation
The multinational firm responds to the need for modernity, and tries to transform regional differences
The global corporation focuses on being competitive on a worldwide basis
The global corporation is nearing its end.
Which of the following is not an underlying assumption of Levitt (‘The globalization of markets’, 1983, in De Wit & Meyer, 2010, Reading 10.1), with regard to globalization?
Globalization becomes increasingly inevitable with the rise of institutions, such as the World Trade Organization
Worldwide, customer needs and wants are becoming increasingly homogenous
People around the world are willing to sacrifice preference in product features, function, and design, for lower prices at higher quality
Substantial economies of scale, in production and marketing, can often be achieved through supplying global markets.
According to Levitt (‘The globalization of markets’, 1983, in De Wit & Meyer, 2010, Reading 10.1), what is the mission, and what is the mode, of a global corporation?
Its mission is expansion and its mode is technological development
Its mission is modernity and its mode is price competition
Its mission is adaptation and its mode is customized products
Its mission is globalization and its mode is technological development.
What does Levitt (‘The globalization of markets’, 1983, in De Wit & Meyer, 2010, Reading 10.1) say about the relationships between a global competitor and its customers?
Customer need is not universal and, regardless to lesser prices, they may bond to local preferences
The customer is king – who knows their own wishes
Customers prefer their world-standardized products, as long as they are suitable, by price and quality
If a market segment in one country is unique, the global competitor will try to customize its products for that particular segment.