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

question 94

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.Even within China,the cultural diversity is immense.Standard Chinese is spoken differently in different parts of the country.These variations in how languages are spoken are referred to as _____.

• A) dialects
• B) accents
• C) slangs
• D) jargons
• E) lexicons

Explain the roles of self-disclosure and intimate communication in relationship satisfaction.

Comprehend the theoretical models explaining love and attraction, including factors influencing partner selection.

Identify the effects of relationship dynamics, such as love at first sight and passionate love, on individual behaviors and relationship outcomes.

Understand the influence of psychological theories on relationship formation, maintenance, and dissolution.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.