WALMART SCENARIO Walmart Is the Largest Retailer in the World with More

question 107

Multiple Choice

WALMART SCENARIO
Walmart is the largest retailer in the world with more than 4,000 stores located in 14 countries outside the United States. The corporation has learned, sometimes the hard way, that the Walmart business model cannot be applied to every country it enters due to cultural differences. For example, the retailer ran into difficulties in many European countries because stores are not open 24-hours a day, seven days a week, like Walmart Supercenters in the United States. When negotiating the purchase of Trust-Mart stores in China, the company had to develop "enduring" relationships with executives before even discussing business opportunities. Making inroads into the Chinese market was particularly difficult for Walmart. Chinese customers generally believe in the superiority of home-made products to foreign ones. Establishing trust with these customers was difficult as Chinese customers don't warm up easily to foreign brands and view them with suspicion. Most of the customers perceived a price-risk relationship rather than a price-quality relationship while making purchasing decisions. Even within China, the cultural diversity was immense. Standard Chinese was spoken differently in different parts of the country. Keeping this diversity in mind, Walmart varied its marketing mixes based on local tastes, cultures, and economic conditions.
-Refer to Walmart Scenario.Keeping the existing diversity in mind,Walmart varied its marketing mixes based on local tastes,cultures,and economic conditions.This practice is best described as _____.

• A) accommodation
• B) acclimatization
• C) glocalization
• D) enculturation
• E) acculturation

Examine the role and significance of the Covenant Chain and other alliances in colonial North American politics.

Grasp the influence of the slave trade and slavery in shaping colonial America and the Caribbean.

Discern the evolution of civil rights and freedoms in colonial America, including voting rights and religious liberties.

Understand the economic foundation and social hierarchies of English North American colonies, particularly focusing on Carolina.

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Definitions:

Net Income

A company's overall income following the subtraction of all costs, taxes, and expenses from its gross revenue.

Unit Sales Price

The amount charged to customers for a single unit of a product or service.

Fixed Costs

Costs that do not vary with the level of production or sales, including rent, salaries, and insurance premiums.

Variable Costs

Expenses that change in proportion to the amount of production or business operations.