Question 1

A company that is heavily engaged in international trade,beyond exporting and importing,is called a multinational corporation.

Accepted Answer

A) True 
 B)False

Question 2

_____ is the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter.

Accepted Answer

A) ​Exporting 
B) Dumping 
C) Boycotting 
D) ​Contract manufacturing 
A) ​Exporting 
B) Dumping 
C) Boycotting 
D) ​Contract manufacturing

Question 3

The management of Irving Inc.,an apparel company based in Letonia,decides to expand the company's operations to several other countries.Given this information,which of the following strategies can be adopted by the management to succeed in the foreign environment?

Accepted Answer

A) ​It can sell the same clothes it sells in its home country in the other countries too. 
B) It can modify its Web site according to the foreign countries' culture. 
C) It can limit personal selling to buyers in the foreign country. 
D) ​It can solely rely on free translation software to translate slogans and instructions. 
A) ​It can sell the same clothes it sells in its home country in the other countries too. 
B) It can modify its Web site according to the foreign countries' culture. 
C) It can limit personal selling to buyers in the foreign country. 
D) ​It can solely rely on free translation software to translate slogans and instructions.

Question 4

A U.S.licensor will be most successful in maintaining effective control over licensees and preventing them from voiding the licensor's contract by:

Accepted Answer

A) ​using lawyers from both countries to write the licensing agreement. 
B) insisting that all licensees have a published code of ethics. 
C) receiving all the revenue earned by the licensees. 
D) ​locally registering patents and trademarks to the U.S. firm and not to the licensees. 
A) ​using lawyers from both countries to write the licensing agreement. 
B) insisting that all licensees have a published code of ethics. 
C) receiving all the revenue earned by the licensees. 
D) ​locally registering patents and trademarks to the U.S. firm and not to the licensees.

Question 5

Fresnas Corp.,a company that designs and manufactures apparels,practices inshoring.Given this information,which of the following is most likely to be true of Fresnas Corp.?

Accepted Answer

A) ​It keeps its research team in close proximity. 
B) It faces increased shipping and transportation costs. 
C) It outsources its manufacturing jobs to other countries. 
D) ​It faces a lot of time delays and communication issues. 
A) ​It keeps its research team in close proximity. 
B) It faces increased shipping and transportation costs. 
C) It outsources its manufacturing jobs to other countries. 
D) ​It faces a lot of time delays and communication issues.

Question 6

Which of the following companies is in the first stage of global business?

Accepted Answer

A) ​D Feet Corp., which manufactures footwear in a small town in Lucitona and sells the footwear to several countries around the world 
B) Laelle Inc., which is based in Euphonia and has set up several subsidiaries to manage its business in another country 
C) Fournotts Bros., which is based in Datford and opens a new line of business in a neighboring country 
D) ​Rues and West Inc., which operates online shopping sites around the world 
A) ​D Feet Corp., which manufactures footwear in a small town in Lucitona and sells the footwear to several countries around the world 
B) Laelle Inc., which is based in Euphonia and has set up several subsidiaries to manage its business in another country 
C) Fournotts Bros., which is based in Datford and opens a new line of business in a neighboring country 
D) ​Rues and West Inc., which operates online shopping sites around the world

Question 7

The management of Vimonland Theme Park sells the proprietary rights of all the park rides to an investment company to operate one of its franchise in a foreign country.The investment company gains most of the profits from the newly established theme park while paying the management of Vimonland Theme Park a percentage of its revenue as royalties.In this case,Vimonland Theme Park is a _____.

Accepted Answer

A) ​licensor 
B) buyer for export 
C) contract manufacturer 
D) ​licensee 
A) ​licensor 
B) buyer for export 
C) contract manufacturer 
D) ​licensee

Question 8

The owners of Fashion Spell,an apparel store based in the town of Lumberne,want to expand the store's business all over the world.In this case,which of the following strategies can help the owners of Fashion Spell achieve their objectives?

Accepted Answer

A) ​Opening a Web page 
B) Being sensitive to the culture of citizens in Lumberne 
C) Acting as an export broker 
D) ​Countertrading with foreign companies 
A) ​Opening a Web page 
B) Being sensitive to the culture of citizens in Lumberne 
C) Acting as an export broker 
D) ​Countertrading with foreign companies

Question 9

Which of the following statements is true of globalization?

Accepted Answer

A) ​It expands economic freedom and increases the living standards of people. 
B) It increases prices and decreases product and service quality. 
C) It has curbed the growth of middle class in developing countries. 
D) ​It leads to monopoly of domestic producers. 
A) ​It expands economic freedom and increases the living standards of people. 
B) It increases prices and decreases product and service quality. 
C) It has curbed the growth of middle class in developing countries. 
D) ​It leads to monopoly of domestic producers.

Question 10

In _____,all or part of the payment for goods or services is in the form of other goods or services.

Accepted Answer

A) ​countertrade 
B) price fixing 
C) dumping 
D) ​product adaptation 
A) ​countertrade 
B) price fixing 
C) dumping 
D) ​product adaptation

Question 11

Yuncen Foods is a food manufacturer based in Lumberne.It gets over half of its revenue from international sales.It has been consistently ranked as the best foods manufacturer in the world.Given this information,which of the following statements is true of Yuncen Foods?

Accepted Answer

A) ​The company is overlooking the threats posed by foreign companies in Lumberne. 
B) Packing of frozen foods are outsourced to other countries. 
C) The company is not competitive in its home country. 
D) ​Geographic and political barriers are irrelevant to the company's business decisions. 
A) ​The company is overlooking the threats posed by foreign companies in Lumberne. 
B) Packing of frozen foods are outsourced to other countries. 
C) The company is not competitive in its home country. 
D) ​Geographic and political barriers are irrelevant to the company's business decisions.

Question 12

Since Facebook,YouTube,and other social media are popular around the world,firms both large and small have embraced social media marketing.

Accepted Answer

A) True 
 B)False

Question 13

When a company invests in a foreign firm and holds active ownership of the firm,then the company is said to be in a joint venture with the foreign firm.

Accepted Answer

A) True 
 B)False

Question 14

Discuss exports in the U.S.

Accepted Answer

Answers will vary.Although some countrie

Question 15

Global marketing refers to marketing that targets markets throughout the world.

Accepted Answer

A) True 
 B)False

Question 16

In the context of distribution,ocean shipping is faster than airfreight.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following statements is true of a company that is in the second stage of global business?

Accepted Answer

A) ​It maintains a virtual executive suite. 
B) It sets up foreign subsidiaries to handle sales in one country. 
C) It runs business entirely through the Internet. 
D) ​It has its entire operations in its home country. 
A) ​It maintains a virtual executive suite. 
B) It sets up foreign subsidiaries to handle sales in one country. 
C) It runs business entirely through the Internet. 
D) ​It has its entire operations in its home country.

Question 18

The four Ps of global marketing strategy are product,place,promotion,and price.

Accepted Answer

A) True 
 B)False

Question 19

Unlike firms that are in the second stage of global business,third-stage multinational companies:

Accepted Answer

A) ​sell products only in one country. 
B) have their top executives and core corporate functions in different countries. 
C) operate an entire line of business in another country. 
D) ​set up foreign subsidiaries to handle sales in one country. 
A) ​sell products only in one country. 
B) have their top executives and core corporate functions in different countries. 
C) operate an entire line of business in another country. 
D) ​set up foreign subsidiaries to handle sales in one country.

Question 20

Why do firms that enter into foreign trade need to adhere to the principles of the marketing mix?

Accepted Answer

Answers will vary.To succeed,firms seeki

A company that is heavily engaged in international trade,beyond exporting and importing,is called a multinational corporation.

_____ is the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter.

The management of Irving Inc.,an apparel company based in Letonia,decides to expand the company's operations to several other countries.Given this information,which of the following strategies can be adopted by the management to succeed in the foreign environment?

A U.S.licensor will be most successful in maintaining effective control over licensees and preventing them from voiding the licensor's contract by:

Fresnas Corp.,a company that designs and manufactures apparels,practices inshoring.Given this information,which of the following is most likely to be true of Fresnas Corp.?

Which of the following companies is in the first stage of global business?

The owners of Fashion Spell,an apparel store based in the town of Lumberne,want to expand the store's business all over the world.In this case,which of the following strategies can help the owners of Fashion Spell achieve their objectives?

Which of the following statements is true of globalization?

In _____,all or part of the payment for goods or services is in the form of other goods or services.

Yuncen Foods is a food manufacturer based in Lumberne.It gets over half of its revenue from international sales.It has been consistently ranked as the best foods manufacturer in the world.Given this information,which of the following statements is true of Yuncen Foods?

Since Facebook,YouTube,and other social media are popular around the world,firms both large and small have embraced social media marketing.

When a company invests in a foreign firm and holds active ownership of the firm,then the company is said to be in a joint venture with the foreign firm.

Discuss exports in the U.S.

Global marketing refers to marketing that targets markets throughout the world.

In the context of distribution,ocean shipping is faster than airfreight.

Which of the following statements is true of a company that is in the second stage of global business?

The four Ps of global marketing strategy are product,place,promotion,and price.

Unlike firms that are in the second stage of global business,third-stage multinational companies:

Why do firms that enter into foreign trade need to adhere to the principles of the marketing mix?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters

Exam 5: Developing a Global Vision

A company that is heavily engaged in international trade,beyond exporting and importing,is called a multinational corporation.

_____ is the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter.

The management of Irving Inc.,an apparel company based in Letonia,decides to expand the company's operations to several other countries.Given this information,which of the following strategies can be adopted by the management to succeed in the foreign environment?

A U.S.licensor will be most successful in maintaining effective control over licensees and preventing them from voiding the licensor's contract by:

Fresnas Corp.,a company that designs and manufactures apparels,practices inshoring.Given this information,which of the following is most likely to be true of Fresnas Corp.?

Which of the following companies is in the first stage of global business?

The owners of Fashion Spell,an apparel store based in the town of Lumberne,want to expand the store's business all over the world.In this case,which of the following strategies can help the owners of Fashion Spell achieve their objectives?

Which of the following statements is true of globalization?

In _____,all or part of the payment for goods or services is in the form of other goods or services.

Yuncen Foods is a food manufacturer based in Lumberne.It gets over half of its revenue from international sales.It has been consistently ranked as the best foods manufacturer in the world.Given this information,which of the following statements is true of Yuncen Foods?

Since Facebook,YouTube,and other social media are popular around the world,firms both large and small have embraced social media marketing.

When a company invests in a foreign firm and holds active ownership of the firm,then the company is said to be in a joint venture with the foreign firm.

Discuss exports in the U.S.

Global marketing refers to marketing that targets markets throughout the world.

In the context of distribution,ocean shipping is faster than airfreight.

Which of the following statements is true of a company that is in the second stage of global business?

The four Ps of global marketing strategy are product,place,promotion,and price.

Unlike firms that are in the second stage of global business,third-stage multinational companies:

Why do firms that enter into foreign trade need to adhere to the principles of the marketing mix?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters