The two trends that influenced global marketing in the last decade were:
- Formal economic integration.
- Free trade between nations.
Global marketing can be defined as a management strategy for organizations that also market their products and services in foreign countries.
Globalization has enabled formal economic integration and free trade between nations, and has created the possibility for companies to increase their profitability and market share.
As an example, we can mention the fast-food chain <em>Mc Donalds,</em> which has a presence almost all over the world, but which adapts its burgers according to local habits.
Therefore, a global company must adopt global marketing, that is, adapt to local customs, culture and preferences for the business to be successful.
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Answer:
Explanation:
Under GAAP, every cost incurred should be classified into either period cost or product cost, where:
Product Cost:
The cost business has incurred right now, but will benefit from it in future for e.g. raw materials used to manufacture something which will be sold in next period (by the way period means the time span for which business is reporting its performance like year or quarter). these generally include direct labor, materials and manufacturing over heads
these costs should be capitalized and expensed out in future as the inventory is used.
Period Cost:
all other costs from which business has benefited completely in current period, including admin sales and distribution related costs
these should be expensed out in current period.
for warehousing costs, if they pertain to raw materials and semi finished goods they will be capitalized but if they pertains to finished goods they will be expensed out (as there is no benefit expected from them in future now)
for research and development, every research cost should be expensed out for e.g. feasibility studies under GAAP, but if product found to be commercially viable then the development costs can be capitalized as intangible asset(with the same logic as these will be exactly like manufacturing costs for tangible products).
<span>Customer feedback is the main driver of customer metrics. These scores and responses can help a business understand which competencies they are succeeding in and which need adjustment or retraining. In addition, these metrics can measure the attitudes that customers have toward a company and how the company is presenting itself to the public.</span>
Answer:
C. maximizing profits
Explanation:
In the free market economy, productions and economic activities are conducted by individuals and privately owned firms. The government does not participate in economic activities in a market economy. Making profits is the primary reason why the private sector engages in business activities.
In the free market economy, the private sector owns the factors production. They risk their resources in producing goods and services to sell to the public. The reward for taking risks and for providing goods and services is the profits earned.