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A Multinational Firm Generally Considers the Economic Environment, the Political-

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Essay

A multinational firm generally considers the economic environment, the political- legal environment, and the cultural environment of nations in deciding whether or not to do business with them. Which of these factors would be most significant for marketers of luxury goods? Which factor has the greatest potential for causing problems for all foreign marketers regardless of product?


Definitions:

Defensive Influence

The impact of psychological defense mechanisms in shaping an individual's behavior or response to certain stimuli or situations.

Self-fulfilling Prophecy

A prediction that directly or indirectly causes itself to become true due to the positive feedback between belief and behavior.

Stereotypes

Oversimplified, generalized images or ideas about a group of people, ignoring individual differences.

Social Schema

A cognitive framework that helps individuals organize and interpret information about the social world.

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