Question 1

The use of ________ as a tool for exchanging products,services,and information on a global scale is one of the developments that has affected world trade.

Accepted Answer

A)  buying centers
B)  Internet technology
C)  language translators
D)  tariff and quota policies
E)  multinational marketing strategiesF) B) and D)
G) B) and C)

Question 2

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

Accepted Answer

A)  an analysis of cultural diversity within the country under consideration
B)  regulatory constraints regarding contracts,mergers,and partnerships
C)  an assessment of the economic infrastructure in different countries
D)  an assessment of language differences including dialect variation
E)  political and ideological differences between the countries involvedF) D) and E)
G) A) and E)

Question 3

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) B) and E)
G) A) and D)

Question 4

The World Trade Organization (WTO) refers to

Accepted Answer

A)  the world's largest banking institution responsible for establishing and maintaining equitable exchange rates for all member nations.
B)  the world's largest licensing institution responsible for the certification of products distributed to a global market.
C)  an institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions.
D)  a multinational trade organization composed of the world's wealthiest nations whose primary purpose is to aid in the economic growth of developing nations.
E)  a multinational trade organization comprised of the world's wealthiest nations whose primary purpose is to promote free trade economies.F) C) and D)
G) B) and D)

Question 5

Exporting refers to a global market entry strategy in which

Accepted Answer

A)  a company will sell its products in international markets but not in its own domestic market.
B)  a company produces goods in one country and sells them in another country.
C)  a company will manufacture its product in several countries at the same time using different brand names and slight product modifications.
D)  a company will manufacture products specifically designed for nondomestic markets,but will sell those products to distributors that take title and resell the products to different companies around the world.
E)  a product is made in one country,assembled in a second country,and ultimately marketed to a third country.F) A) and B)
G) All of the above

Question 6

The appreciation of fashion,music,and a desire for novelty and trendier designs and images

Accepted Answer

A)  are preferences found more in American teenagers than in most other cultures around the world.
B)  actually begin at age 10,but begin to decline significantly as students enter high school.
C)  ironically are found more for teenagers who cannot afford to make those purchases than for those who can.
D)  are preferences of teenagers around the world regardless of where they live.
E)  are often established early among European teens and they typically linger well into adulthood.F) A) and B)
G) A) and C)

Question 7

Arguments in favor of protectionism include that it

Accepted Answer

A)  helps reduce tariffs and quotas.
B)  promotes development of domestic industries.
C)  encourages economic reliance on foreign countries.
D)  creates opportunities for the outsourcing of domestic jobs.
E)  creates a more favorable environment for a global economy.F) B) and C)
G) D) and E)

Question 8

Which of the following statements about the dynamics of world trade is most accurate?

Accepted Answer

A)  Manufactured products and commodities account for only 25 percent of world trade.
B)  Services such as telecommunications,transportation,and banking are not included in calculations of world trade.
C)  The United States has replaced China as the biggest country in terms of world trade.
D)  All nations participate equally in world trade.
E)  Dollar value of world trade has roughly doubled in the past decade.F) B) and C)
G) C) and E)

Question 9

Figure 7-4
 
-According to Figure 7-4 above,point B would most likely represent which option for entering the global marketplace?

Accepted Answer

A)  exporting
B)  joint venture
C)  direct investment
D)  franchising
E)  licensingF) D) and E)
G) B) and E)

Question 10

There are ________ World Trade Organization countries,including the United States,which account for more than 90 percent of world trade.

Accepted Answer

A)  31
B)  52
C)  97
D)  133
E)  162F) C) and D)
G) A) and B)

Question 11

Figure 7-5
 
-GlaxoSmithKline PLC of Great Britain makes Breathe-Right nasal strips.It sells the same product in many countries because customers all over the world will use them in the same way.This is an example of which type of global marketing product and promotion strategy?

Accepted Answer

A)  product customization
B)  product extension
C)  product adaptation
D)  product invention
E)  product integrationF) C) and D)
G) B) and D)

Question 12

Explain why not all nations and regions of the world participate equally in world trade.

Accepted Answer

All nations and regions of the world do ...

Question 13

Yogen Früz is a successful chain of frozen yogurt shops originating in Canada.Archeology Investments has an agreement with the Canadian firm that grants rights to its company to open and operate Yogen Früz shops in Dubai,Oman,Qatar,Bahrain,and Kuwait.Yogen Früz is engaged in

Accepted Answer

A)  dual adaptation.
B)  a joint venture.
C)  direct exporting.
D)  indirect exporting.
E)  franchising.F) C) and D)
G) B) and E)

Question 14

Since 1963,the guiding principle of Mary Kay,Inc. ,has been based on

Accepted Answer

A)  the Consumer Bill of Rights.
B)  the Golden Rule.
C)  caveat emptor.
D)  the American Marketing Association Statement of Ethics.
E)  maximizing profits so long as the firm stays within the rules.F) All of the above
G) D) and E)

Question 15

The EU has benefited firms in its member nations because

Accepted Answer

A)  it provides a safe haven in times of world economic crises.
B)  there is a common language advantage among EU consumers.
C)  most companies within the EU are engaging in strategic global partnerships.
D)  there is now a legally binding code of economic conduct.
E)  firms do not need to market their products and services on a nation-by-nation basis.F) B) and E)
G) B) and C)

Question 16

The price of one country's currency expressed in terms of another country's currency is referred to as the

Accepted Answer

A)  balance of price.
B)  currency exchange rate.
C)  money conversion factor.
D)  balance of payments.
E)  transfer payment.F) A) and D)
G) B) and C)

Question 17

Figure 7-5
 
-KFC in Japan altered the sweetness of its coleslaw to appeal to Japanese tastes.This is an example of which type of global marketing product and promotion strategy?

Accepted Answer

A)  product extension
B)  product adaptation
C)  product customization
D)  product invention
E)  product integrationF) A) and D)
G) A) and B)

Question 18

Assessing the political and regulatory climate for marketing in a country or region of the world means not only identifying the current environment but also determining how

Accepted Answer

A)  it conducts its macrofinancing.
B)  its citizens budget their money.
C)  long a favorable or unfavorable climate will last.
D)  the country's stocks are performing on the stock exchange.
E)  its population ranks in size compared to other countries.F) A) and B)
G) A) and C)

Question 19

A(n) ________ firm engages in trade and marketing in different countries as an extension of the marketing strategy in its home country.

Accepted Answer

A)  multidomestic
B)  meganational
C)  international
D)  multinational
E)  transnationalF) B) and C)
G) A) and B)

Question 20

Gross domestic product refers to the

Accepted Answer

A)  monetary value of all products and services produced by a single manufacturer during one year.
B)  monetary value of all domestic exports of a nation during one year.
C)  monetary value of all products and services produced in a country during one year.
D)  monetary value of all domestic imports of a nation during one year.
E)  difference between all domestic exports and imports for any nation during the course of one fiscal year.F) None of the above
G) B) and C)

Exam 7: Understanding and Reaching Global Consumers and Markets

A multidomestic marketing strategy refers to

Correct AnswerverifiedShow Answer

Which of the following statements about the dynamics of world trade is most accurate?

Correct AnswerverifiedShow Answer

The price of one country's currency expressed in terms of another country's currency is referred to as the

Correct AnswerverifiedShow Answer

Exporting refers to a global market entry strategy in which

Correct AnswerverifiedShow Answer

Figure 7-5 -GlaxoSmithKline PLC of Great Britain makes Breathe-Right nasal strips.It sells the same product in many countries because customers all over the world will use them in the same way.This is an example of which type of global marketing product and promotion strategy?

Correct AnswerverifiedShow Answer

The use of ________ as a tool for exchanging products,services,and information on a global scale is one of the developments that has affected world trade.

Correct AnswerverifiedShow Answer

The World Trade Organization (WTO) refers to

Correct AnswerverifiedShow Answer

A(n) ________ firm engages in trade and marketing in different countries as an extension of the marketing strategy in its home country.

Correct AnswerverifiedShow Answer

Figure 7-5 -KFC in Japan altered the sweetness of its coleslaw to appeal to Japanese tastes.This is an example of which type of global marketing product and promotion strategy?

Correct AnswerverifiedShow Answer

Assessing the political and regulatory climate for marketing in a country or region of the world means not only identifying the current environment but also determining how

Correct AnswerverifiedShow Answer

The appreciation of fashion,music,and a desire for novelty and trendier designs and images

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

Yogen Früz is a successful chain of frozen yogurt shops originating in Canada.Archeology Investments has an agreement with the Canadian firm that grants rights to its company to open and operate Yogen Früz shops in Dubai,Oman,Qatar,Bahrain,and Kuwait.Yogen Früz is engaged in

Correct AnswerverifiedShow Answer

Arguments in favor of protectionism include that it

Correct AnswerverifiedShow Answer

Gross domestic product refers to the

Correct AnswerverifiedShow Answer

The EU has benefited firms in its member nations because

Correct AnswerverifiedShow Answer

Explain why not all nations and regions of the world participate equally in world trade.

Correct AnswerverifiedAll nations and regions of the world do ...View AnswerShow Answer

There are ________ World Trade Organization countries,including the United States,which account for more than 90 percent of world trade.

Correct AnswerverifiedShow Answer

Since 1963,the guiding principle of Mary Kay,Inc. ,has been based on

Correct AnswerverifiedShow Answer

Figure 7-4 -According to Figure 7-4 above,point B would most likely represent which option for entering the global marketplace?

Correct AnswerverifiedShow Answer

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All nations and regions of the world do ...
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