Which of the Following Best Defines Adaptation on the Part

question 24

Multiple Choice

Which of the following best defines adaptation on the part of an international marketer?

• A) It is a conscious effort to make themselves aware of the home cultural reference in their analyses and decision making.
• B) It is a conscious effort to anticipate the influences of both the foreign and domestic uncontrollable factors on a marketing mix and then to adjust the marketing mix to minimize the effects.
• C) It is the notion that people in one's own company or country know best how to do things.
• D) It is the process of identifying the similarities that exists between the domestic and foreign markets.
• E) It is an unconscious reference to one's own cultural values, experiences, and knowledge as a basis for decisions and then to adjust the marketing mix in order to closely reflect these decisions.

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Definitions:

Cross Elasticity

A measure in economics that shows how the quantity demanded for one good responds to a change in the price of another good.

Quantity Demanded

The total amount of a good or service consumers are willing and able to purchase at a specific price point, during a certain time frame.

Price Change

A variation in the cost of a good or service, which can occur due to various factors like supply and demand or inflation.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of consumers to price changes.