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

question 76

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.Chinese customers generally believe in the superiority of home-made products to foreign ones.This is an example of consumer _____.

• A) chauvinism
• B) ethnocentrism
• C) imperialism
• D) polycentrism
• E) xenocentrism

Recognize the psychological processes of change and key theorists associated with these processes.

Identify and describe different models and theories of change (Havelock, Rogers, Lewin, Transtheoretical approach).

Distinguish between the steps involved in various change processes and models.

Recognize the importance of internal and external forces in organizational change.

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Definitions:

Radiation Sickness

An illness caused by excessive exposure to ionizing radiation, characterized by symptoms such as nausea, weakness, hair loss, skin burns, and decreased organ function.

Nausea

A sensation of unease and discomfort in the stomach with an urge to vomit.

Radioactive Decay

The process by which an unstable atomic nucleus loses energy by emitting radiation.

Half-life

The time required for half of the atoms in a radioactive substance to undergo decay, a characteristic constant for each radioactive isotope.