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Describe the three types of business customs that an international marketer must be aware of and provide examples of each.
Base-Rate Information
Statistical information about the frequency of events or characteristics within a given population.
Availability Heuristic
An intuitive leap based on readily recalled examples when considering a particular subject, notion, approach, or judgment.
Representativeness Heuristic
The representativeness heuristic is a cognitive bias in which an individual categorizes a situation based on how similar the aspects are to the prototypes the person holds in their mind.
Cognitive Map
An internal representation of the spatial relationships between objects or locations in an individual's environment.
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