Question 1

Foreign businesses can face nontariff trade barriers restricting product standards.

Accepted Answer

A) True 
 B)False

Question 2

When companies fully adapt their advertising messages to local markets,they follow a strategy of ________.

Accepted Answer

A)  communication extension 
B)  product invention 
C)  communication adaptation 
D)  straight product extension 
E)  product adaptation 
A)  communication extension 
B)  product invention 
C)  communication adaptation 
D)  straight product extension 
E)  product adaptation

Question 3

A blocked currency is one whose removal from the country is restricted by the buyer's government.

Accepted Answer

A) True 
 B)False

Question 4

In managing their international marketing activities,most companies first ________.

Accepted Answer

A)  organize an import department 
B)  create an international division 
C)  initiate foreign direct investment 
D)  form a domestic subsidiary 
E)  organize an export department 
A)  organize an import department 
B)  create an international division 
C)  initiate foreign direct investment 
D)  form a domestic subsidiary 
E)  organize an export department

Question 5

Which of the following is true of raw material exporting economies?

Accepted Answer

A)  These economies are major exporters of agricultural products. 
B)  These economies are poor markets for large equipment and trucks. 
C)  These economies are major exporters of manufactured goods, services, and investment funds. 
D)  These economies are rich in one or more resources but poor in other ways. 
E)  These economies consume most of their output and barter the rest. 
A)  These economies are major exporters of agricultural products. 
B)  These economies are poor markets for large equipment and trucks. 
C)  These economies are major exporters of manufactured goods, services, and investment funds. 
D)  These economies are rich in one or more resources but poor in other ways. 
E)  These economies consume most of their output and barter the rest.

Question 6

An emerging economy is one which ________.

Accepted Answer

A)  imports large amounts of finished textiles and automobiles 
B)  offers few market opportunities for imported goods 
C)  consumes all or most of its output 
D)  needs few imports of raw textile materials and steel 
E)  has a rapid growth in manufacturing 
A)  imports large amounts of finished textiles and automobiles 
B)  offers few market opportunities for imported goods 
C)  consumes all or most of its output 
D)  needs few imports of raw textile materials and steel 
E)  has a rapid growth in manufacturing

Question 7

________ are international divisions responsible for the sales and profits of their own operating units.

Accepted Answer

A)  World product groups 
B)  Geographical organizations 
C)  International subsidiaries 
D)  Global organizations 
E)  Export departments 
A)  World product groups 
B)  Geographical organizations 
C)  International subsidiaries 
D)  Global organizations 
E)  Export departments

Question 8

Kola,a leading soft drink manufacturer,has recently forayed into the Middle East markets.Based on its research that consumers in the Middle East prefer sweeter drinks,it is manufacturing soft drinks with extra sugar to meet the local requirements.In this scenario,Kola is using a(n)________ strategy to market its product.

Accepted Answer

A)  communication adaptation 
B)  undifferentiated marketing 
C)  straight product extension 
D)  product invention 
E)  product adaptation 
A)  communication adaptation 
B)  undifferentiated marketing 
C)  straight product extension 
D)  product invention 
E)  product adaptation

Question 9

Strawberry Fizz is a renowned bottled juice manufacturer in the United States.It exports its products to Mexico,has a joint venture in Hong Kong,and owns a subsidiary in South Africa.The company has organized an export department to manage its international marketing activities.Do you think it has made the right decision? Justify your answer.

Accepted Answer

Organizing an export department is not t

Question 10

Which of the following is most likely a benefit of joint ownership?

Accepted Answer

A)  It allows a firm to gain the financial and managerial resources that it may otherwise lack. 
B)  It is the simplest way for a domestic company to enter a foreign market. 
C)  It minimizes the need to build a new manufacturing facility in the foreign market. 
D)  It allows one firm to acquire complete ownership of the other firm in the venture. 
E)  It provides significant economies of scale for both the local firm and the foreign investor. 
A)  It allows a firm to gain the financial and managerial resources that it may otherwise lack. 
B)  It is the simplest way for a domestic company to enter a foreign market. 
C)  It minimizes the need to build a new manufacturing facility in the foreign market. 
D)  It allows one firm to acquire complete ownership of the other firm in the venture. 
E)  It provides significant economies of scale for both the local firm and the foreign investor.

Question 11

In the global value delivery network,the second link between the sellers and the final buyers moves products from points of production to the borders of countries within which they are sold.

Accepted Answer

A) True 
 B)False

Question 12

Global branding and standardization result in reduced costs from economies of scale.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is most likely true about a global organization?

Accepted Answer

A)  Worldwide policies are planned by top corporate management. 
B)  Global operating units report to international division chiefs. 
C)  Executive training is restricted to domestic operations. 
D)  Employees are recruited exclusively from the home country. 
E)  It considers itself a national marketer that sells abroad. 
A)  Worldwide policies are planned by top corporate management. 
B)  Global operating units report to international division chiefs. 
C)  Executive training is restricted to domestic operations. 
D)  Employees are recruited exclusively from the home country. 
E)  It considers itself a national marketer that sells abroad.

Question 14

Briefly explain the three basic market entry strategies of entering a foreign market.

Accepted Answer

Once a company has decided to sell in a

Question 15

Which of the following is true of free trade zones?

Accepted Answer

A)  They are groups of nations organized to work toward common goals. 
B)  They were formed to increase trade barriers between member nations. 
C)  They were formed to mediate global trade disputes. 
D)  They require member countries to establish one currency. 
E)  They tend to improve imports and hinder exports. 
A)  They are groups of nations organized to work toward common goals. 
B)  They were formed to increase trade barriers between member nations. 
C)  They were formed to mediate global trade disputes. 
D)  They require member countries to establish one currency. 
E)  They tend to improve imports and hinder exports.

Question 16

Through which of the following routes do firms generally get into international marketing?

Accepted Answer

A)  buying shares of an international company 
B)  shipping products to foreign customers 
C)  organizing an international division 
D)  establishing a joint venture 
E)  acquiring a foreign firm 
A)  buying shares of an international company 
B)  shipping products to foreign customers 
C)  organizing an international division 
D)  establishing a joint venture 
E)  acquiring a foreign firm

Question 17

Which of the following is true of exporting?

Accepted Answer

A)  It is the most complex way to enter a foreign market. 
B)  It involves the association of companies with host country partners. 
C)  It typically requires products to be extensively modified for the foreign market. 
D)  It involves the least change in a company's product lines. 
E)  It involves a huge investment if done through independent international distributors. 
A)  It is the most complex way to enter a foreign market. 
B)  It involves the association of companies with host country partners. 
C)  It typically requires products to be extensively modified for the foreign market. 
D)  It involves the least change in a company's product lines. 
E)  It involves a huge investment if done through independent international distributors.

Question 18

Price escalation is caused by transportation costs,tariffs,importer margin,wholesaler margin,and retailer margin.As a result,foreign prices are typically lower than domestic prices for comparable products.

Accepted Answer

A) True 
 B)False

Question 19

The Internet is forcing companies toward more standardized international pricing.

Accepted Answer

A) True 
 B)False

Question 20

Most of the retailing in the United States is done by small,independent retailers.

Accepted Answer

A) True 
 B)False

Foreign businesses can face nontariff trade barriers restricting product standards.

When companies fully adapt their advertising messages to local markets,they follow a strategy of ________.

A blocked currency is one whose removal from the country is restricted by the buyer's government.

In managing their international marketing activities,most companies first ________.

Which of the following is true of raw material exporting economies?

An emerging economy is one which ________.

________ are international divisions responsible for the sales and profits of their own operating units.

Which of the following is most likely a benefit of joint ownership?

In the global value delivery network,the second link between the sellers and the final buyers moves products from points of production to the borders of countries within which they are sold.

Global branding and standardization result in reduced costs from economies of scale.

Which of the following is most likely true about a global organization?

Briefly explain the three basic market entry strategies of entering a foreign market.

Which of the following is true of free trade zones?

Through which of the following routes do firms generally get into international marketing?

Which of the following is true of exporting?

Price escalation is caused by transportation costs,tariffs,importer margin,wholesaler margin,and retailer margin.As a result,foreign prices are typically lower than domestic prices for comparable products.

The Internet is forcing companies toward more standardized international pricing.

Most of the retailing in the United States is done by small,independent retailers.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer 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

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Social Responsibility and Ethics

Filters

Exam 15: The Global Marketplace

Foreign businesses can face nontariff trade barriers restricting product standards.

When companies fully adapt their advertising messages to local markets,they follow a strategy of ________.

A blocked currency is one whose removal from the country is restricted by the buyer's government.

In managing their international marketing activities,most companies first ________.

Which of the following is true of raw material exporting economies?

An emerging economy is one which ________.

________ are international divisions responsible for the sales and profits of their own operating units.

Which of the following is most likely a benefit of joint ownership?

In the global value delivery network,the second link between the sellers and the final buyers moves products from points of production to the borders of countries within which they are sold.

Global branding and standardization result in reduced costs from economies of scale.

Which of the following is most likely true about a global organization?

Briefly explain the three basic market entry strategies of entering a foreign market.

Which of the following is true of free trade zones?

Through which of the following routes do firms generally get into international marketing?

Which of the following is true of exporting?

Price escalation is caused by transportation costs,tariffs,importer margin,wholesaler margin,and retailer margin.As a result,foreign prices are typically lower than domestic prices for comparable products.

The Internet is forcing companies toward more standardized international pricing.

Most of the retailing in the United States is done by small,independent retailers.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer 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

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Social Responsibility and Ethics

Filters