Exam 5: Developing a Global Vision

__________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.

​_____ is a fast-growing way to conduct global business in which all or part of the payment for goods or services is in the form of other goods and services.

Franchising is a form of exporting.

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

Global marketers use social media not only for understanding customers but also to build their brands as they expand internationally.

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

Irving Inc. ,an apparel company,decides to expand operations to several countries around the world.However,it fails to take into account the various styles of clothing that are deemed acceptable in these countries.It sells the same clothes that it sells in its home country to the other countries.As a result,it suffers a major loss.In this scenario,Irving Inc.failed to be sensitive to the__________of the countries.

__________is a fast-growing way to conduct global business in which all or part of the payment for goods or services is in the form of other goods and services.

Gross national product (GNP)is the total market value of all final goods and services produced in a country for a given time period.

Cost savings is considered a key driver for outsourcing by most companies.

The__________is a trade agreement that has dramatically lowered trade barriers worldwide and also created the World Trade Organization.

What are the benefits of globalization?

​In the context of global marketing,when a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity,it is known as a _____.

Melrow Inc. ,a U.S.firm,suffers heavy losses and lays off many of its employees.As a measure to reduce its manufacturing costs,it shifts its production units to another country where inexpensive labor is available.In this scenario,Melrow Inc.is engaged in__________.

Which of the following is true of franchising?

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

​A(n)_____ is a limit on the amount of a specific product that can enter a country.

​Khokho's Coffee House is the first to introduce flavored coffee in the global market.It sells coffee in several different flavors,such as blueberry,cinnamon,and cranberry,based on the popular flavors in each country.Based on this information,Khokho's Coffee House uses _____ to market its products.

D'Costas,an authentic Mexican restaurant,has many restaurants all over the world.The taste and authenticity of the food served is the same irrespective of the restaurant one visits.Based on this information,D'Costas follows the strategy of__________.

Identify a few disadvantages of global trade.