Exam 7: Understanding and Reaching Global Consumers and Markets

One disadvantage of direct investment when entering a new global market is

All nations and regions of the world do not participate equally in world trade.World trade flows reflect

To eliminate the need to continually monitor currency exchange rates,________ of the countries in the European Union (EU)have adopted a common currency called the euro.

U.S.-based Fran Wilson Creative Cosmetics attributes its success in Japan to a top-quality product,effective advertising,and a novel ________ strategy,in which it uses Japanese distributors to reach beauty salons rather than department stores.

Countertrade refers to

A global market entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or division is referred to as

Fluctuations in the ________ among the world's currencies have a direct impact on the sales and profits made by global companies.

Global consumers are

Figure 7-5 -Global companies have five strategies for matching products and their promotion efforts to global markets.Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of global marketing product and promotion strategy?

The practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas is referred to as

Whirlpool asked the United States to impose ________ on washing machine imports made by LG Electronics and Samsung Electronics,both South Korean companies,to raise the price of these products.Whirlpool accused these companies of selling below fair market value and receiving anticompetitive export subsidies from their governments,both of which could jeopardize American jobs.

The ________ imposed on imported bananas by European Union countries cost consumers $2 billion a year in higher prices.

Which of the following statements about the relationship between the imports into the United States and the exports from the United States during the last 40 years is most accurate?

By skillfully using ________,global marketers can tie positive meanings to their products,services,and brands to enhance their attractiveness to consumers.

Generally speaking,a(n)________ firm markets its existing products and services in other countries the same way it does in its home country.

Offering the right to a trademark,patent,trade secret,or other similarly valued items of intellectual property in return for a royalty or a fee is referred to as

The administrative,marketing,and manufacturing operations that many international firms,multinational firms,and transnational firms have around the world are often called

A small Canadian winery located in British Columbia has developed a new table wine.It has no overseas contacts but wants to get its wine on the shelves in selected Asian and European markets where growth has been substantial in the past two years.Which type of exporting option would best suit this company?

Why is it wise for global marketers to use back translation? Provide an example to support your answer.

In international trade,dumping refers to