Question 1

Which of the following is an example of an economic community?

Accepted Answer

A)  NATO 
B)  BRIC 
C)  NAFTA 
D)  GATT 
E)  WTO 
A)  NATO 
B)  BRIC 
C)  NAFTA 
D)  GATT 
E)  WTO C

Question 2

Identify and describe the three product strategies a company entering a foreign market can use.

Accepted Answer

A company can choose straight product extension, product adaptation, or product invention. Straight product extension means marketing a product in a foreign market without any change. This involves no additional product development costs, manufacturing changes, or new promotion. But it can be costly in the long run if products fail to satisfy foreign consumers. Product adaptation involves changing the product to meet local conditions or wants. Product invention consists of creating something new for a specific country market.

Question 3

Bias against bids made by American companies is an example of a(n) ________.

Accepted Answer

A)  quota 
B)  tariff 
C)  boycott 
D)  nontariff trade barrier 
E)  exchange control 
A)  quota 
B)  tariff 
C)  boycott 
D)  nontariff trade barrier 
E)  exchange control D

Question 4

Foreign businesses in India appear to receive unusually close scrutiny and must meet special regulations, aimed at protecting local businesses. This includes nontariff trade barriers. This reflects that a country's ________ should be carefully considered before doing business in that country.

Accepted Answer

A)  political-legal environment 
B)  industrial structure 
C)  cultural norms 
D)  natural resources 
E)  income distribution 
A)  political-legal environment 
B)  industrial structure 
C)  cultural norms 
D)  natural resources 
E)  income distribution

Question 5

Coffee, tea, cotton, and tobacco are the main exports of Uganda. It is most likely that Uganda has a(n) ________ economy.

Accepted Answer

A)  subsistence 
B)  marketing 
C)  merchandise exporting 
D)  raw material exporting 
E)  industrializing 
A)  subsistence 
B)  marketing 
C)  merchandise exporting 
D)  raw material exporting 
E)  industrializing

Question 6

Compare the four different types of industrial structures.

Accepted Answer

The four different types of industrial s

Question 7

Which of the following is an economic factor that a company should consider before deciding to enter into a new country?

Accepted Answer

A)  population size and growth 
B)  natural resources 
C)  cultural and social norms 
D)  political stability 
E)  climate 
A)  population size and growth 
B)  natural resources 
C)  cultural and social norms 
D)  political stability 
E)  climate

Question 8

The whole-channel view recognizes that to compete internationally a company must effectively design and manage a standardized global marketing plan.

Accepted Answer

A) True 
 B)False

Question 9

Firms that decide against international expansion to play it safe ________.

Accepted Answer

A)  protect themselves from competition at home 
B)  gain a competitive edge against imports in their home markets 
C)  successfully shield themselves from foreign competition 
D)  risk losing their home markets 
E)  increase their chances of entering other markets 
A)  protect themselves from competition at home 
B)  gain a competitive edge against imports in their home markets 
C)  successfully shield themselves from foreign competition 
D)  risk losing their home markets 
E)  increase their chances of entering other markets

Question 10

Which of the following characterizes indirect exporting?

Accepted Answer

A)  It requires more investment than joint venturing. 
B)  It requires an overseas marketing organization or network. 
C)  It involves less risk and investment than other entry methods. 
D)  The potential returns are greater than direct exporting. 
E)  It involves joining with foreign companies to produce or market products or services. 
A)  It requires more investment than joint venturing. 
B)  It requires an overseas marketing organization or network. 
C)  It involves less risk and investment than other entry methods. 
D)  The potential returns are greater than direct exporting. 
E)  It involves joining with foreign companies to produce or market products or services.

Question 11

A country's ________ shapes its product and service needs, income levels, and employment levels.

Accepted Answer

A)  international trade system 
B)  income distribution 
C)  industrial structure 
D)  political structure 
E)  foreign exchange system 
A)  international trade system 
B)  income distribution 
C)  industrial structure 
D)  political structure 
E)  foreign exchange system

Question 12

________ involves changing the product to meet local requirements, conditions, or wants.

Accepted Answer

A)  Product invention 
B)  Straight product extension 
C)  Standard global marketing 
D)  Communication adaptation 
E)  Product adaptation 
A)  Product invention 
B)  Straight product extension 
C)  Standard global marketing 
D)  Communication adaptation 
E)  Product adaptation

Question 13

The simplest way to enter a foreign market is through ________.

Accepted Answer

A)  joint venturing 
B)  direct investment 
C)  exporting 
D)  joint ownership 
E)  contract manufacturing 
A)  joint venturing 
B)  direct investment 
C)  exporting 
D)  joint ownership 
E)  contract manufacturing

Question 14

Oreos are less sweet or less bitter in certain countries. This is an example of straight product extension.

Accepted Answer

A) True 
 B)False

Question 15

Formed in 2004 and formalized in 2008, ________ makes up the largest trading block after NAFTA and the European Union.

Accepted Answer

A)  CAFTA-DR 
B)  FTAA 
C)  UNASUR 
D)  MCAN 
E)  GATT 
A)  CAFTA-DR 
B)  FTAA 
C)  UNASUR 
D)  MCAN 
E)  GATT

Question 16

When entering a foreign market, companies typically start with ________, working through independent intermediaries to sell products produced in the home country.

Accepted Answer

A)  direct exporting 
B)  embargo 
C)  product adaptation 
D)  indirect exporting 
E)  licensing 
A)  direct exporting 
B)  embargo 
C)  product adaptation 
D)  indirect exporting 
E)  licensing

Question 17

CAFTA-DR has eliminated all trade barriers and investment restrictions among the United States, Canada, and Mexico.

Accepted Answer

A) True 
 B)False

Question 18

UNASUR is the economic community of South American nations.

Accepted Answer

A) True 
 B)False

Question 19

________ means adjusting the marketing strategy and mix elements to each international target market.

Accepted Answer

A)  Standardized global marketing 
B)  Ambush marketing 
C)  Adapted global marketing 
D)  Mass marketing 
E)  Whole channel viewing 
A)  Standardized global marketing 
B)  Ambush marketing 
C)  Adapted global marketing 
D)  Mass marketing 
E)  Whole channel viewing

Question 20

In a(n) ________ economy, fast growth in manufacturing results in rapid overall economic growth.

Accepted Answer

A)  industrial 
B)  industrializing 
C)  materials exporting 
D)  subsistence 
E)  agrarian 
A)  industrial 
B)  industrializing 
C)  materials exporting 
D)  subsistence 
E)  agrarian

Which of the following is an example of an economic community?

Identify and describe the three product strategies a company entering a foreign market can use.

Bias against bids made by American companies is an example of a(n) ________.

Foreign businesses in India appear to receive unusually close scrutiny and must meet special regulations, aimed at protecting local businesses. This includes nontariff trade barriers. This reflects that a country's ________ should be carefully considered before doing business in that country.

Coffee, tea, cotton, and tobacco are the main exports of Uganda. It is most likely that Uganda has a(n) ________ economy.

Compare the four different types of industrial structures.

Which of the following is an economic factor that a company should consider before deciding to enter into a new country?

The whole-channel view recognizes that to compete internationally a company must effectively design and manage a standardized global marketing plan.

Firms that decide against international expansion to play it safe ________.

Which of the following characterizes indirect exporting?

A country's ________ shapes its product and service needs, income levels, and employment levels.

________ involves changing the product to meet local requirements, conditions, or wants.

The simplest way to enter a foreign market is through ________.

Oreos are less sweet or less bitter in certain countries. This is an example of straight product extension.

Formed in 2004 and formalized in 2008, ________ makes up the largest trading block after NAFTA and the European Union.

When entering a foreign market, companies typically start with ________, working through independent intermediaries to sell products produced in the home country.

CAFTA-DR has eliminated all trade barriers and investment restrictions among the United States, Canada, and Mexico.

UNASUR is the economic community of South American nations.

________ means adjusting the marketing strategy and mix elements to each international target market.

In a(n) ________ economy, fast growth in manufacturing results in rapid overall economic growth.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Customers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 19: The Global Marketplace

Which of the following is an example of an economic community?

Identify and describe the three product strategies a company entering a foreign market can use.

Bias against bids made by American companies is an example of a(n) ________.

Foreign businesses in India appear to receive unusually close scrutiny and must meet special regulations, aimed at protecting local businesses. This includes nontariff trade barriers. This reflects that a country's ________ should be carefully considered before doing business in that country.

Coffee, tea, cotton, and tobacco are the main exports of Uganda. It is most likely that Uganda has a(n) ________ economy.

Compare the four different types of industrial structures.

Which of the following is an economic factor that a company should consider before deciding to enter into a new country?

The whole-channel view recognizes that to compete internationally a company must effectively design and manage a standardized global marketing plan.

Firms that decide against international expansion to play it safe ________.

Which of the following characterizes indirect exporting?

A country's ________ shapes its product and service needs, income levels, and employment levels.

________ involves changing the product to meet local requirements, conditions, or wants.

The simplest way to enter a foreign market is through ________.

Oreos are less sweet or less bitter in certain countries. This is an example of straight product extension.

Formed in 2004 and formalized in 2008, ________ makes up the largest trading block after NAFTA and the European Union.

When entering a foreign market, companies typically start with ________, working through independent intermediaries to sell products produced in the home country.

CAFTA-DR has eliminated all trade barriers and investment restrictions among the United States, Canada, and Mexico.

UNASUR is the economic community of South American nations.

________ means adjusting the marketing strategy and mix elements to each international target market.

In a(n) ________ economy, fast growth in manufacturing results in rapid overall economic growth.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Customers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

Sustainable Marketing: Social Responsibility and Ethics

Filters