Exam 5: Developing a Global Vision

_____ are trade alliances in which several countries agree to work together to form a common trade area that enhances trade opportunities among those countries.

With a _____,a firm produces standardized products to be sold the same way all over the world.

A business thinking of expanding into global markets needs to examine all of the following external environments EXCEPT:

In the 1980s,Japanese computer chip manufacturers were accused of dumping in the United States.Explain what this means and discuss why a company would do this.

The viral YouTube videos of the lap-dancing incident were cleverly exploited by the Boston Blazers.

The _____ is an intermediary in the global market who assumes all risks and sells globally internationally for its own account.The domestic manufacturer usually treats it like a domestic customer.

When confronted with a consumer population that can only spend $2 a day-and only a fraction of that is disposable-a marketer is looking at a factor in the __________.

Otis Elevators has entered into a strategic alliance with a company in France from which it gets its elevator door systems.It has a similar agreement with a manufacturer in Japan that provides it with special motor drives.A manufacturer in Spain has worked closely with Otis to create small geared parts necessary for the manufacture of elevators.The component parts are assembled at its plant in the United States.Otis elevators can be found in buildings all over the world.Otis Elevators is an example of a(n):

Marketers are often surprised that the poor reject products that have been made cheaper for their benefit.What explains the failure of P&G and other firms,such as L'Oréal when both used a strategy of "diluting"?

Central to any society is a common set of values shared by its citizens that determines what is socially acceptable.Marketers refer to these values collectively as a country's:

When a company develops its product,it must communicate (i.e. ,promote)the benefit to consumers.Does Doug Reffue's Facebook posting (and free ticket offer)meet that criterion?

Multinational companies typically begin the development of their global business with direct investment and continue using this strategy throughout the company's life span.

Assume that you are the marketing manager for a leading U.S.manufacturer of earthmoving equipment.Your company would like to become heavily involved in global marketing (especially in India)but has some capital limitations.Your job is to evaluate whether it should use contract manufacturing or direct foreign investment.Compare and contrast these two options and make a recommendation.

Who are the richest people in the world?

American firms should never try to do business in Europe in August because they will find that everyone has gone on vacation.Today,all European countries have laws requiring companies to provide employees with vacations of at least four to five weeks.This would be an important part of the European _____ environment that any multinational firm doing business there needs to be aware of.

Procter & Gamble's policy,described as __________ by its CEO,puts patience before a quick return on investment.

Describe the four stages of business globalization.Why do most companies stop when they reach the third stage?

Why is developing a global vision important for firms in the United States?

Cooley Manufacturing is a multinational company selling plumbing components around the world.This company has progressed to the point that it operates an entire line of business in several other countries.Which stage of multinational business does this represent?

There was a disconnect between the benefit of Yellow Tail product-wine-and its animal welfare initiative,Tails for Tails.