The Practice of Standardizing Marketing Activities When Cultural Similarities Exist

question 109

Multiple Choice

The practice of standardizing marketing activities when cultural similarities exist and adapting them when cultures differ is called a ________marketing strategy.

• A)polyphonic
• B)standardize d
• C)Malthusian
• D)global

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Definitions:

Marginal Revenue Product

The additional revenue generated by employing one more unit of a factor, such as labor, in the production process.

Competitive Industry

A competitive industry is characterized by many firms competing against each other to sell similar or identical products, with few barriers to entry for new firms.

Marginal Revenue Product

The extra income produced by employing an additional unit of a production input.

Marginal Product

The additional output that results from the use of one more unit of a variable input, while other inputs are kept constant.