Exam 1: Introduction to Global Marketing

Based on 2011 rankings of Fortune Global 500 companies, the world's most valuable car company is:

Based on the size of the market in U.S.dollars, the leading consumer products are:

Describe how the global marketing strategy is different when compared to that of single country marketing.

Ethnocentric companies that conduct business outside the home country adhere to the notion that the products that succeed in the home country are superior.

Measured by national income, the United States represents the world's largest single market for goods and services.Roughly what percentage of world income is found outside the U.S.?

According to the Fortune global 500 companies for 2011, the largest corporation based on revenue is:

The form and substance of a company's response to global market opportunities depend greatly on management's assumptions or beliefs.What is meant by this statement?

Transnational companies, such as Toyota and Honda, have characteristic features that include:

According to Michael Porter, a global industry is one in which ________ can be achieved by integrating and leveraging operations on a worldwide scale.

When a country like China is experiencing rapid economic growth, policymakers are likely to:

When a company establishes a site on the Internet, it automatically becomes global.

The Coca-Cola Company supports its Coke, Fanta, and PowerAde brands with marketing mix elements that are both global and local.

The term "polycentric" describes management's belief or assumption that each country in which a company does business is unique.

In the United States, some people believe that globalization has depressed the wages of American workers and resulted in the loss of both blue-collar and white-collar jobs.This is an example of:

Value, competitive advantage, and the focus required to achieve them are universal in their relevance and should guide global marketing efforts in any part of the world.

McDonald's restaurants are found in more than 118 countries.To ensure high levels of consistency and quality, the company's far-flung restaurant system incorporates many standardized elements (e.g.restaurant design, burgers/fries/soft drinks as basic menu offerings).However, McDonald's also prides itself on sourcing many of its food inputs (e.g.potatoes and dairy products)in individual host countries.McDonald's strives to be locally responsive it creates new menu items specifically designed with local eating customs and preferences in mind.Typically, McDonald's forms joint ventures with local partners, a tactic that ensures that a local "face" is associated with the company.Finally, McDonald's has been in many country markets long enough that a new generation of consumers has grown up with McDonald's and are not aware of the company's U.S.origins.On the basis of this summary, what is the highest stage of corporate development that McDonald's arguably has achieved?

Nestlé, Unilever, GlaxoSmithKline, and Royal Philips Electronics can be considered transnational companies on the basis of:

The perceived value equation can be represented as Value = Price/Benefits.

An organization that engages in global marketing focuses its resources and competencies on global market opportunities and threats.

Nations referred to as MINTs, which hold great potential marketing opportunities, are Mexico, India, Nigeria, and Turkey.