Guanxi Is an Important Mechanism for Building Long-Term Business Relationships

question 54

True/False

Guanxi is an important mechanism for building long-term business relationships and getting business done in China.

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Definitions:

Global Markets

Worldwide trading environments where goods, services, and financial instruments are bought and sold.

Promotion Efforts

The activities and strategies used to increase awareness of a product or service, aiming to boost sales and customer engagement.

Product Adaptation

The process of modifying a product to suit the needs, preferences, or standards of a particular market or group of customers.

Promotional Campaigns

Organized efforts and marketing strategies aimed at promoting a specific product, service, or event to increase awareness or sales.