Question 1

What is considered normal and expected about the way people do things in a specific country is referred to as __________.

Accepted Answer

A)  morals
B)  ethics
C)  values
D)  customs
E)  beliefsF) B) and D)
G) A) and C)

Question 2

A multidomestic marketing strategy refers to

Accepted Answer

A)  the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
B)  the strategy used by firms that use the same product variations,brand names,and advertising programs for every country in which they do business.
C)  the strategy used by firms that have as many different product variations,brand names,and advertising programs as countries in which they do business.
D)  the strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm's products.
E)  the strategy currently used by most U.S.domestic firms that when entering a new international market,these firms offer only those products that require the least amount of product adaptation.F) All of the above
G) B) and C)

Question 3

Generally speaking,a(n) __________ firm markets its existing products and services in other countries the same way it does in its home country.

Accepted Answer

A)  meganational
B)  international
C)  multinational
D)  transnational
E)  intranationalF) C) and E)
G) B) and E)

Question 4

Eastman Kodak accused Japanese rival Fuji Photo Film of selling photographic paper in the United States for 25 percent below what it charges in Japan.In other words,Eastman Kodak accused Fuji of __________.

Accepted Answer

A)  tariff avoidance
B)  countertrade
C)  surplus marketing
D)  dumping
E)  underbiddingF) A) and B)
G) None of the above

Question 5

Whirlpool recently asked the United States to impose __________ on washing machine imports made by LG Electronics and Samsung Electronics,both South Korean companies,to raise the price of these products.Whirlpool accused these companies of selling below fair market value and receiving anticompetitive export subsidies from their governments,both of which could jeopardize American jobs.

Accepted Answer

A)  boycotts
B)  quotas
C)  sanctions
D)  tariffs
E)  embargoesF) None of the above
G) D) and E)

Question 6

Define licensing,cite its advantages and disadvantages,and explain what franchising is.

Accepted Answer

Licensing offers the right to a company ...

Question 7

Four trends in the past decade have significantly influenced the landscape of global marketing.One of them is

Accepted Answer

A)  the rise of economic integration and free trade among nations.
B)  an increase in economic protectionism and a decline in free trade.
C)  a more aggressive attitude towards initiating international tariffs and quota systems.
D)  a decrease in most countries' GDPs and a renewal of nationalism.
E)  an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism.F) B) and C)
G) A) and D)

Question 8

According to Michael Porter's diamond in Figure 7-2 above,quadrant "C" represents

Accepted Answer

A)  factor conditions.
B)  related and supporting industries.
C)  demand conditions.
D)  managerial conditions.
E)  company strategy,structure,and rivalry.F) C) and E)
G) A) and D)

Question 9

By skillfully using __________,global marketers can tie positive meanings to their products,services,and brands to enhance their attractiveness to consumers.

Accepted Answer

A)  cultural symbols
B)  visual icons
C)  trademarks
D)  brand names
E)  ethnic emblemsF) A) and E)
G) A) and D)

Question 10

If your primary motive was to raise prices on imports,would you use tariffs or quotas? Why would you want to do this?

Accepted Answer

If your primary motive was to raise pric...

Question 11

A small Canadian winery located in British Columbia has developed a superior tasting wine.It has no overseas contacts but wants to get its wine on the shelves in selected Asian and European markets where growth has been substantial in the last two years.What type of exporting option would best suit this company?

Accepted Answer

A)  direct exporting
B)  licensing
C)  indirect exporting
D)  joint venture
E)  cooperative partnershipF) D) and E)
G) B) and E)

Question 12

The trade feedback effect is one argument for

Accepted Answer

A)  decreasing a nation's exports.
B)  free trade agreements.
C)  increased tariffs and quotas.
D)  international trade associations.
E)  decreasing a nation's imports.F) B) and D)
G) B) and C)

Question 13

Since global marketing is affected by economic considerations,a scan of the global marketplace should include which of the following factors?

Accepted Answer

A)  recognition of a country's currency exchange rates
B)  an analysis of cultural diversity within the country under consideration
C)  regulatory constraints regarding contracts,mergers,and partnerships
D)  an assessment of language differences including dialect variation
E)  political and ideological differences between the countries involvedF) A) and B)
G) A) and C)

Question 14

A firm's profit potential and control over marketing activities increases as it moves from exporting to direct investment as a global market-entry strategy.But so does the firm's

Accepted Answer

A)  likelihood of long-term success.
B)  financial commitment and risk.
C)  vulnerability to political changes and doctrines.
D)  need for a more educated workforce.
E)  need for a larger workforce.F) A) and B)
G) A) and E)

Question 15

In Latvia,only one six-lane highway exists,connecting Riga,its capitol,with Moscow.Otherwise,the roads are two-lane and many are made of cobblestones or bricks.This limits the speed with which deliveries can be made and requires that delivery trucks be quite small.The road network in Latvia is an example of problems with a country's

Accepted Answer

A)  capital improvements.
B)  fixed-asset base.
C)  geopolitical wealth.
D)  asset wealth.
E)  economic infrastructure.F) B) and C)
G) None of the above

Question 16

Which of the following is an advantage inherent in the use of licensing?

Accepted Answer

A)  The licensor retains control of its product.
B)  The licensor is protected from creating a potential competitor.
C)  It provides an exemption from domestic trade regulations.
D)  There is an increase in potential profit compared with direct investment.
E)  The licensee gains information about the dynamics of the market.F) A) and B)
G) A) and C)

Question 17

Before Apple's iPhone 4S was officially for sale in China,it was being sold there.These phones were purchased in the United States and Australia,and then resold by unauthorized vendors in China for between $1,700 and $2,000.These products are considered to be part of

Accepted Answer

A)  under the counter sales.
B)  over the counter sales.
C)  the gray market.
D)  integrated global channels.
E)  breaking the distribution monopoly.F) B) and D)
G) A) and E)

Question 18

According to Figure 7-5 above,points "A" and "D" would most likely represent __________ and __________ options respectively for entering the global marketplace.

Accepted Answer

A)  joint venture;licensing
B)  licensing;exporting
C)  licensing;joint venture
D)  direct investment;licensing
E)  exporting;direct investmentF) A) and C)
G) C) and D)

Question 19

Which of the following statements most accuratELY describes the global perspective on world trade?

Accepted Answer

A)  Exports are of significantly greater importance than imports.
B)  Imports are of significantly greater importance than exports.
C)  Imports and exports should be complementary economic flows: a country's imports affect its exports and exports affect its imports.
D)  Exports and imports should always be kept in a state of equilibrium.
E)  Imports and exports should be controlled through extensive use of international tariffs,quotas,and other and trade regulations.F) A) and E)
G) B) and C)

Question 20

Contracting with a foreign firm to assemble parts and components that have been shipped to that country is referred to as

Accepted Answer

A)  direct exporting.
B)  indirect exporting.
C)  licensing.
D)  contract manufacturing.
E)  contract assembly.F) C) and D)
G) A) and E)

Exam 7: Understanding and Reaching Global Consumers and Markets

What is considered normal and expected about the way people do things in a specific country is referred to as __________.

Correct Answer
verified

Correct Answer
verified

A firm's profit potential and control over marketing activities increases as it moves from exporting to direct investment as a global market-entry strategy.But so does the firm's

Correct Answer
verified

The trade feedback effect is one argument for

Correct Answer
verified

Before Apple's iPhone 4S was officially for sale in China,it was being sold there.These phones were purchased in the United States and Australia,and then resold by unauthorized vendors in China for between $1,700 and $2,000.These products are considered to be part of

Correct Answer
verified

Correct Answer
verified

A multidomestic marketing strategy refers to

Correct Answer
verified

According to Michael Porter's diamond in Figure 7-2 above,quadrant "C" represents

Correct Answer
verified

According to Figure 7-5 above,points "A" and "D" would most likely represent and options respectively for entering the global marketplace.

Correct Answer
verified

If your primary motive was to raise prices on imports,would you use tariffs or quotas? Why would you want to do this?

Correct Answer
verified
If your primary motive was to raise pric...
View Answer

Eastman Kodak accused Japanese rival Fuji Photo Film of selling photographic paper in the United States for 25 percent below what it charges in Japan.In other words,Eastman Kodak accused Fuji of __________.

Correct Answer
verified

Four trends in the past decade have significantly influenced the landscape of global marketing.One of them is

Correct Answer
verified

Correct Answer
verified

By skillfully using __________,global marketers can tie positive meanings to their products,services,and brands to enhance their attractiveness to consumers.

Correct Answer
verified

Which of the following statements most accuratELY describes the global perspective on world trade?

Correct Answer
verified

Generally speaking,a(n) __________ firm markets its existing products and services in other countries the same way it does in its home country.

Correct Answer
verified

Since global marketing is affected by economic considerations,a scan of the global marketplace should include which of the following factors?

Correct Answer
verified

Contracting with a foreign firm to assemble parts and components that have been shipped to that country is referred to as

Correct Answer
verified

Which of the following is an advantage inherent in the use of licensing?

Correct Answer
verified

Define licensing,cite its advantages and disadvantages,and explain what franchising is.

Correct Answer
verified
Licensing offers the right to a company ...
View Answer

Exam 7: Understanding and Reaching Global Consumers and Markets

What is considered normal and expected about the way people do things in a specific country is referred to as __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A firm's profit potential and control over marketing activities increases as it moves from exporting to direct investment as a global market-entry strategy.But so does the firm's

Correct AnswerverifiedShow Answer

The trade feedback effect is one argument for

Correct AnswerverifiedShow Answer

Before Apple's iPhone 4S was officially for sale in China,it was being sold there.These phones were purchased in the United States and Australia,and then resold by unauthorized vendors in China for between $1,700 and $2,000.These products are considered to be part of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A multidomestic marketing strategy refers to

Correct AnswerverifiedShow Answer

According to Michael Porter's diamond in Figure 7-2 above,quadrant "C" represents

Correct AnswerverifiedShow Answer

According to Figure 7-5 above,points "A" and "D" would most likely represent __________ and __________ options respectively for entering the global marketplace.

Correct AnswerverifiedShow Answer

If your primary motive was to raise prices on imports,would you use tariffs or quotas? Why would you want to do this?

Correct AnswerverifiedIf your primary motive was to raise pric...View AnswerShow Answer

Eastman Kodak accused Japanese rival Fuji Photo Film of selling photographic paper in the United States for 25 percent below what it charges in Japan.In other words,Eastman Kodak accused Fuji of __________.

Correct AnswerverifiedShow Answer

Four trends in the past decade have significantly influenced the landscape of global marketing.One of them is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

By skillfully using __________,global marketers can tie positive meanings to their products,services,and brands to enhance their attractiveness to consumers.

Correct AnswerverifiedShow Answer

Which of the following statements most accuratELY describes the global perspective on world trade?

Correct AnswerverifiedShow Answer

Generally speaking,a(n) __________ firm markets its existing products and services in other countries the same way it does in its home country.

Correct AnswerverifiedShow Answer

Since global marketing is affected by economic considerations,a scan of the global marketplace should include which of the following factors?

Correct AnswerverifiedShow Answer

Contracting with a foreign firm to assemble parts and components that have been shipped to that country is referred to as

Correct AnswerverifiedShow Answer

Which of the following is an advantage inherent in the use of licensing?

Correct AnswerverifiedShow Answer

Define licensing,cite its advantages and disadvantages,and explain what franchising is.

Correct AnswerverifiedLicensing offers the right to a company ...View AnswerShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

According to Figure 7-5 above,points "A" and "D" would most likely represent and options respectively for entering the global marketplace.

Correct Answer
verified

Correct Answer
verified
If your primary motive was to raise pric...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
Licensing offers the right to a company ...
View Answer