Examlex
The purchase of a bottle of water is a low-involvement purchase. How can a marketer convince people to buy Dasani instead of one of the numerous other brands displayed on retailers' shelves?
Home-Country Standards
The regulatory and legal requirements or cultural norms from an individual's or corporation's country of origin that influence their operations abroad.
Host-Country Standards
The regulations, customs, and practices that prevail in the country where a multinational company operates, as opposed to its home country standards.
Classical Economic Model
A theory or approach in economics that emphasizes free markets, the role of competition, and the minimal involvement of government in the economy.
Adam Smith
An 18th-century Scottish economist and philosopher, best known for his theories on free market economies and the invisible hand principle.
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