Applicants prefer rankings, but the school for them most part do not. European schools, in particular, argue that rankings are misleading as they may use a narrow range of often-inappropriate measures which fail to reveal the true competence of unique programs. Several schools have contested and boycotted league tables. Nevertheless, the number of business schools which participate in rankings is actually growing, in part because rankings tell potential customers what they need to know. Since business schools must market to applicants as if they were consumers, most take rankings seriously.

　　___________________________________45____________________________________

　　A ranking is just one factor that underpins the success of schools and MBA programs. The programs must not only rank highly, they must also be known. Schools want their programs---and graduates want their degrees ---to receive instant recognition and respect. Until recently, prominence has been largely overlooked in the assessment of MBA programs, but the Internet now provides another channel of communication and reputation for schools and their market.

　　The MBA is the principal product in the most market-oriented sector of higher education. Given the globalization of business, increased communication, and the ability to deliver content to individuals wherever they are, the complexity and competitiveness of this pioneering educational marketplace can only increase.

　　Passage 6

　　Directions：You are going to read a list of headings and a about U.S. firms participating global competition. Choose the most suitable heading from the list A-F for each numbered paragraph (41-45).The first and last paragraphs of the are not numbered. There are two extra headings which you do not need to use. Mark your answers on ANSWER SHEET l. (10 points)

　　A) Entering international markets

　　B) Satisfying global customers

　　C) Lowering prices by manufacturing overseas

　　D) Facing threats of global markets

　　E) Recognizing the constraints of global markets

　　F) Being better than competition

　　G) Coordinating marketing activities

　　We live in an increasingly interdependent world, and perhaps someday we will live in a “world without borders”, to borrow from the title of a provocative book of 1970s. Globalization is of great significance to both poor and rich nations, since competition now spans beyond borders.

　　_____________________________41__________________________________________

　　“The world is too much with us,” said Wordsworth. That could be the main complaint of many U.S. businesses that see themselves threatened by increases in imported goods. Imports were only 1 percent of the U.S. gross national products (GNP) in 1954; they were 6 percent of GNP in 1964 and 10 percent in 1984. The interdependence suggested by such terms as global village and world economy is being recognized by business managers. Therefore, many more U.S. firms, whether they like it or not, will be forced to become part of world markets and global competition. Meanwhile, other nations such as Japan and Germany have had open economies for some time. Their firms are more accustomed to selling in international markets. Hence, U.S. firms have some catching up to do to compete effectively and gain market share in world markets.

　　______________________________42_____________________________________

　　To compete in world markets, firms must have an in depth understanding of customers’ needs. If customers needs differ dramatically across countries and regions, a company must consider how to adapt its products and various elements of the marketing mix to customer needs. If prices must be lowered, the company needs to consider how to design a product to lower manufacturing costs and decide whether to manufacture the product at home or overseas to achieve lower cost. A well-articulated distribution and logistics system is needed to make goods and services available at the point of sale in sufficient quantities. Firms also need to develop global customer database and information systems to understand and respond to customer needs and purchasing decisions.

　　________________________________43_______________________________________

　　Firms must contend with both domestic and global competition. Global competitors could include large multinational and state-owned enterprises that might be market share oriented rather than profit oriented as well as small local firms with other goals. Long-term success comes in part from monitoring, assessing and responding to actions by all sorts of competitors, especially through understanding the competitive and comparative advantages enjoyed by competitors, and finally ensuring success by offering more value, developing superior brand image and product positioning, broader product range, lower prices, higher quality and superior distribution services to more effectively meet customers’ need.

　　_________________________________44________________________________________

　　International marketing creates a new level of complexity. In order to face this challenge, firms must consider staffing and allocating responsibilities across marketing units in different countries, and deciding which decision to decentralize or to control from headquarters, whether to develop standardized campaigns and plans, and how much local responsiveness is appropriate.

　　_________________________________45______________________________________

　　As firms attempt to market in the international arena, they not only face challenges from different competitors, but need to cope with cultural and economic differences that exist in the marketing infrastructure, such as the financial regulations imposed b local governments, and the impact of government policies, especially protectionist and other policies that may unfairly benefit competitors and create difficulty in market entry. To level the playing field, a firm may decide to begin manufacturing overseas to lower its costs and match the lower prices of strong international competition. Very often, a firm may not find it feasible to go alone into foreign markets. In this case, its international marketing endeavor becomes more complex as it joins with a local partner that has specialized knowledge of a specific market and its customers. Some firms find that local partners can force them to change the way they do business. A local partner may insist that the firm accept payment in kind: orange juice or wine in return for machinery, which means a firm has to peddle orange juice or wine around the world.

　　Although the global market is attractive, U.S. firms have been slow to take advantage of it. The United States has always been one of the world’s largest markets. However, ignoring foreign markets and foreign competition has two dangers for U.S. companies: losing market share at home and not profiting from higher growth in markets overseas.

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