Question 1

Heineken beer is sold successfully in the same form around the world. Which of the following product strategies is illustrated in this example?

Accepted Answer

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

Question 2

Trusted Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the United States and Canada. Management at Trusted Wholesalers would most likely be interested in becoming experts in the policies developed by ________.

Accepted Answer

A)  the EU 
B)  NAFTA 
C)  CAFTA-DR 
D)  APTA 
E)  the BRIC countries 
A)  the EU 
B)  NAFTA 
C)  CAFTA-DR 
D)  APTA 
E)  the BRIC countries B

Question 3

In Chinese, the KFC slogan "finger-lickin' good" came out as "eat your fingers off." And Motorola's Hello-moto ringtone sounded like "Hello, Fatty" in India. Which of the following strategies can be used to avoid such mistakes?

Accepted Answer

A)  communication adaptation 
B)  standardized global marketing 
C)  straight product extension 
D)  product adaptation 
E)  communication extension 
A)  communication adaptation 
B)  standardized global marketing 
C)  straight product extension 
D)  product adaptation 
E)  communication extension A

Question 4

Lower costs in the form of cheaper labor or raw materials, foreign government investment incentives, freight savings, and the opportunity to improve the company image are the factors that would most likely lead a company to enter a foreign market using the market entry strategy of ________.

Accepted Answer

A)  direct exporting 
B)  licensing 
C)  management contracting 
D)  indirect exporting 
E)  direct investment 
A)  direct exporting 
B)  licensing 
C)  management contracting 
D)  indirect exporting 
E)  direct investment

Question 5

Which of the following is most likely to be the consequence of increased growth of global trade?

Accepted Answer

A)  Home markets become richer in opportunities. 
B)  Foreign firms expand aggressively into new international markets. 
C)  Global competition is curbed. 
D)  Industries become safe from foreign competition. 
E)  Domestic companies increase their chances to dominate their home markets. 
A)  Home markets become richer in opportunities. 
B)  Foreign firms expand aggressively into new international markets. 
C)  Global competition is curbed. 
D)  Industries become safe from foreign competition. 
E)  Domestic companies increase their chances to dominate their home markets.

Question 6

In a subsistence economy, fast growth in manufacturing results in rapid overall economic growth.

Accepted Answer

A) True 
 B)False

Question 7

What are two possible reasons that management contracting is prevalent in the hotel industry?

Accepted Answer

Student answers will vary. A hotel, such

Question 8

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

Accepted Answer

A company can choose straight product ex

Question 9

________ 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 10

________ are major importers and exporters of manufactured goods and services

Accepted Answer

A)  Raw material exporting economies 
B)  Subsistent economies 
C)  Industrializing economies 
D)  Industrial economies 
E)  Emerging economies 
A)  Raw material exporting economies 
B)  Subsistent economies 
C)  Industrializing economies 
D)  Industrial economies 
E)  Emerging economies

Question 11

Which of the following characterizes emerging economies?

Accepted Answer

A)  Industrialization typically creates a new rich class and a growing middle class, both demanding new types of imported goods. 
B)  They trade goods among themselves and also export them to other types of economies for raw materials and semifinished goods. 
C)  Most African countries fall into this category. 
D)  They consume most of their output and barter the rest for simple goods and services. 
E)  These countries are the best markets for large equipment, tools and supplies, and trucks. 
A)  Industrialization typically creates a new rich class and a growing middle class, both demanding new types of imported goods. 
B)  They trade goods among themselves and also export them to other types of economies for raw materials and semifinished goods. 
C)  Most African countries fall into this category. 
D)  They consume most of their output and barter the rest for simple goods and services. 
E)  These countries are the best markets for large equipment, tools and supplies, and trucks.

Question 12

Which of the following is true of contract manufacturing?

Accepted Answer

A)  It provides a chance to start faster but with more risks. 
B)  It involves decreased control over the manufacturing process. 
C)  It leads to an increase in potential profits on manufacturing. 
D)  It is the simplest way to enter a foreign market. 
E)  It involves entering a foreign market by exporting surplus products. 
A)  It provides a chance to start faster but with more risks. 
B)  It involves decreased control over the manufacturing process. 
C)  It leads to an increase in potential profits on manufacturing. 
D)  It is the simplest way to enter a foreign market. 
E)  It involves entering a foreign market by exporting surplus products.

Question 13

In Japan, Budweiser beer flows from Kirin breweries, and Moringa Milk Company produces Sunkist fruit juice. These are examples of ________.

Accepted Answer

A)  contract manufacturing 
B)  management contracting 
C)  licensing 
D)  joint venturing 
E)  direct investment 
A)  contract manufacturing 
B)  management contracting 
C)  licensing 
D)  joint venturing 
E)  direct investment

Question 14

In 1994, the North American Free Trade Agreement (NAFTA) established a free trade zone among the United States and Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is the LEAST critical decision a company should make before going abroad?

Accepted Answer

A)  Can the company learn to understand buyer behavior of consumers in other countries? 
B)  Can the company offer competitively attractive products? 
C)  Can the company adapt to other countries' business cultures? 
D)  How many foreign nationals should the company employ? 
E)  Do the company's managers have the necessary international experience? 
A)  Can the company learn to understand buyer behavior of consumers in other countries? 
B)  Can the company offer competitively attractive products? 
C)  Can the company adapt to other countries' business cultures? 
D)  How many foreign nationals should the company employ? 
E)  Do the company's managers have the necessary international experience?

Question 16

The biggest involvement in a foreign market comes through exporting-entering foreign markets by selling goods produced in the company's home country.

Accepted Answer

A) True 
 B)False

Question 17

Global organizations don't think of themselves as national marketers that sell internationally, but as global marketers.

Accepted Answer

A) True 
 B)False

Question 18

Selman & Saks offered the same razors and trimmers in France as in the United States. Selman & Saks is an example of a ________.

Accepted Answer

A)  product adaptation 
B)  communication adaptation 
C)  product invention 
D)  straight product extension 
E)  standardized global marketing plan 
A)  product adaptation 
B)  communication adaptation 
C)  product invention 
D)  straight product extension 
E)  standardized global marketing plan

Question 19

If a firm moves into joint ventures and direct investments, it will eventually need to create an export department.

Accepted Answer

A) True 
 B)False

Question 20

In 1994, ________ established a free trade zone among the United States, Canada, and Mexico.

Accepted Answer

A)  GATT 
B)  the WTO 
C)  NAFTA 
D)  the EU 
E)  CAFTA 
A)  GATT 
B)  the WTO 
C)  NAFTA 
D)  the EU 
E)  CAFTA

Heineken beer is sold successfully in the same form around the world. Which of the following product strategies is illustrated in this example?

Trusted Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the United States and Canada. Management at Trusted Wholesalers would most likely be interested in becoming experts in the policies developed by ________.

In Chinese, the KFC slogan "finger-lickin' good" came out as "eat your fingers off." And Motorola's Hello-moto ringtone sounded like "Hello, Fatty" in India. Which of the following strategies can be used to avoid such mistakes?

Lower costs in the form of cheaper labor or raw materials, foreign government investment incentives, freight savings, and the opportunity to improve the company image are the factors that would most likely lead a company to enter a foreign market using the market entry strategy of ________.

Which of the following is most likely to be the consequence of increased growth of global trade?

In a subsistence economy, fast growth in manufacturing results in rapid overall economic growth.

What are two possible reasons that management contracting is prevalent in the hotel industry?

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

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

________ are major importers and exporters of manufactured goods and services

Which of the following characterizes emerging economies?

Which of the following is true of contract manufacturing?

In Japan, Budweiser beer flows from Kirin breweries, and Moringa Milk Company produces Sunkist fruit juice. These are examples of ________.

In 1994, the North American Free Trade Agreement (NAFTA) established a free trade zone among the United States and Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua.

Which of the following is the LEAST critical decision a company should make before going abroad?

The biggest involvement in a foreign market comes through exporting-entering foreign markets by selling goods produced in the company's home country.

Global organizations don't think of themselves as national marketers that sell internationally, but as global marketers.

Selman & Saks offered the same razors and trimmers in France as in the United States. Selman & Saks is an example of a ________.

If a firm moves into joint ventures and direct investments, it will eventually need to create an export department.

In 1994, ________ established a free trade zone among the United States, Canada, and Mexico.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers 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

Heineken beer is sold successfully in the same form around the world. Which of the following product strategies is illustrated in this example?

Trusted Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the United States and Canada. Management at Trusted Wholesalers would most likely be interested in becoming experts in the policies developed by ________.

In Chinese, the KFC slogan "finger-lickin' good" came out as "eat your fingers off." And Motorola's Hello-moto ringtone sounded like "Hello, Fatty" in India. Which of the following strategies can be used to avoid such mistakes?

Lower costs in the form of cheaper labor or raw materials, foreign government investment incentives, freight savings, and the opportunity to improve the company image are the factors that would most likely lead a company to enter a foreign market using the market entry strategy of ________.

Which of the following is most likely to be the consequence of increased growth of global trade?

In a subsistence economy, fast growth in manufacturing results in rapid overall economic growth.

What are two possible reasons that management contracting is prevalent in the hotel industry?

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

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

________ are major importers and exporters of manufactured goods and services

Which of the following characterizes emerging economies?

Which of the following is true of contract manufacturing?

In Japan, Budweiser beer flows from Kirin breweries, and Moringa Milk Company produces Sunkist fruit juice. These are examples of ________.

In 1994, the North American Free Trade Agreement (NAFTA) established a free trade zone among the United States and Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua.

Which of the following is the LEAST critical decision a company should make before going abroad?

The biggest involvement in a foreign market comes through exporting-entering foreign markets by selling goods produced in the company's home country.

Global organizations don't think of themselves as national marketers that sell internationally, but as global marketers.

Selman & Saks offered the same razors and trimmers in France as in the United States. Selman & Saks is an example of a ________.

If a firm moves into joint ventures and direct investments, it will eventually need to create an export department.

In 1994, ________ established a free trade zone among the United States, Canada, and Mexico.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers 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