Question 1

Currency exchange rate refers to

Accepted Answer

A)  the unit equivalency of all international currency. 
B)  the ratio of a nation's basic unit of currency relative to the price of silver. 
C)  the ratio of a nation's basic unit of currency relative to the price of gold. 
D)  the price of one country's currency expressed in terms of another country's currency. 
E)  the unit of wealth (gold, oil, diamonds, etc.) upon which a nation bases its national currency. 
A)  the unit equivalency of all international currency. 
B)  the ratio of a nation's basic unit of currency relative to the price of silver. 
C)  the ratio of a nation's basic unit of currency relative to the price of gold. 
D)  the price of one country's currency expressed in terms of another country's currency. 
E)  the unit of wealth (gold, oil, diamonds, etc.) upon which a nation bases its national currency.

Question 2

Around the world,middle-class,youth,and elite markets that consume similar assortments of products and services,regardless of geographic location,are referred to as

Accepted Answer

A)  transnational consumers. 
B)  meganational consumers. 
C)  international consumers. 
D)  multinational consumers. 
E)  global consumers. 
A)  transnational consumers. 
B)  meganational consumers. 
C)  international consumers. 
D)  multinational consumers. 
E)  global consumers.

Question 3

If your primary motive was to raise prices on imports,would you use tariffs or quotas?
 Why would you want to do this?

Accepted Answer

If your primary motive was to raise pric

Question 4

The U.S.Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering __________,lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Accepted Answer

A)  boycotts 
B)  quotas 
C)  sanctions 
D)  tariffs 
E)  subsidies 
A)  boycotts 
B)  quotas 
C)  sanctions 
D)  tariffs 
E)  subsidies

Question 5

Explain the difference between joint venture and direct investment market entry strategies.What are the advantages and disadvantages of each approach?

Accepted Answer

When a foreign company and a local firm

Question 6

The Malaysian government recently exchanged 20,000 tons of rice for an equivalent amount of Philippine corn.This transaction is an example of a

Accepted Answer

A)  countertrade. 
B)  competitive advantage. 
C)  balance of trade. 
D)  quota. 
E)  trade feedback. 
A)  countertrade. 
B)  competitive advantage. 
C)  balance of trade. 
D)  quota. 
E)  trade feedback.

Question 7

Which of the following is a disadvantage associated with licensing?

Accepted Answer

A)  The licensee pays lower wages and sells at lower prices. 
B)  The licensor may create its own competition. 
C)  The foreign government dislikes it because it does not increase local employment. 
D)  This is the most expensive and risky method for global expansion. 
E)  The firm's brand does not get international exposure. 
A)  The licensee pays lower wages and sells at lower prices. 
B)  The licensor may create its own competition. 
C)  The foreign government dislikes it because it does not increase local employment. 
D)  This is the most expensive and risky method for global expansion. 
E)  The firm's brand does not get international exposure.

Question 8

The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis; most tariffs that affect pricing practices have been removed; and

Accepted Answer

A)  there is a legally binding code of economic conduct. 
B)  there is immunity against world recessions. 
C)  there are fewer regulatory restrictions on transportation, advertising, and promotion. 
D)  there is a common language advantage among EU consumers. 
E)  most companies within the EU are engaging in strategic global partnerships. 
A)  there is a legally binding code of economic conduct. 
B)  there is immunity against world recessions. 
C)  there are fewer regulatory restrictions on transportation, advertising, and promotion. 
D)  there is a common language advantage among EU consumers. 
E)  most companies within the EU are engaging in strategic global partnerships.

Question 9

KFC has created many offerings for its menus in China to appeal to local tastes,including the "Dragon Twister," which is a chicken wrap with Peking-duck sauce.This is an example of which type of global marketing product and promotion strategy?

Accepted Answer

A)  product extension 
B)  product customization 
C)  product adaptation 
D)  product invention 
E)  product integration 
A)  product extension 
B)  product customization 
C)  product adaptation 
D)  product invention 
E)  product integration

Question 10

Since global marketing is affected by economic considerations,a scan of the global marketplace should include which of the following factors?

Accepted Answer

A)  an analysis of cultural diversity within the country under consideration 
B)  regulatory constraints regarding contracts, mergers, and partnerships 
C)  measurement of consumer income in different countries 
D)  an assessment of language differences including dialect variation 
E)  political and ideological differences between the countries involved 
A)  an analysis of cultural diversity within the country under consideration 
B)  regulatory constraints regarding contracts, mergers, and partnerships 
C)  measurement of consumer income in different countries 
D)  an assessment of language differences including dialect variation 
E)  political and ideological differences between the countries involved

Question 11

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

Accepted Answer

A)  boycotts 
B)  quotas 
C)  sanctions 
D)  subsidies 
E)  tariffs 
A)  boycotts 
B)  quotas 
C)  sanctions 
D)  subsidies 
E)  tariffs

Question 12

What are the product and promotion strategies available to a company seeking to enter the global marketplace?
 How do they relate to each other in terms of the same or adapted product and promotion?

Accepted Answer

There are five global marketing product

Question 13

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,define cross-cultural analysis.

Accepted Answer

Cross-cultural analysis involves the stu

Question 14

What are the market entry strategy options available to a company seeking to enter the global marketplace?
 How do they relate to each other in terms of profit potential,risk,financial commitment required,and marketing control?

Accepted Answer

Once a company has decided to enter the

Question 15

A small Canadian winery located in British Columbia has developed a superior 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.What type of exporting option would best suit this company?

Accepted Answer

A)  direct exporting 
B)  licensing 
C)  indirect exporting 
D)  joint venture 
E)  cooperative partnership 
A)  direct exporting 
B)  licensing 
C)  indirect exporting 
D)  joint venture 
E)  cooperative partnership

Question 16

The law,as amended by the International Anti-Dumping and Fair Competition Act,that makes it a crime for U.S.corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country,is referred to as the

Accepted Answer

A)  International Law for Egalitarian Ethics Act. 
B)  International Fair Practices Act. 
C)  Law of International Equity Act. 
D)  International Law of Ethical Business Practices Act. 
E)  Foreign Corrupt Practices Act. 
A)  International Law for Egalitarian Ethics Act. 
B)  International Fair Practices Act. 
C)  Law of International Equity Act. 
D)  International Law of Ethical Business Practices Act. 
E)  Foreign Corrupt Practices Act.

Question 17

What global market entry strategy did Mary Kay use when it entered India?

Accepted Answer

A)  direct importing 
B)  licensing 
C)  indirect exporting 
D)  joint venture 
E)  direct exporting 
A)  direct importing 
B)  licensing 
C)  indirect exporting 
D)  joint venture 
E)  direct exporting

Question 18

The North American Free Trade Agreement was designed to encourage free trade between

Accepted Answer

A)  North America, Central America, and South America. 
B)  the United States and the European Union. 
C)  member countries originally from NATO (North Atlantic Treaty Organization). 
D)  the United States, Canada, and Mexico. 
E)  the United States, Canada, and the United Kingdom. 
A)  North America, Central America, and South America. 
B)  the United States and the European Union. 
C)  member countries originally from NATO (North Atlantic Treaty Organization). 
D)  the United States, Canada, and Mexico. 
E)  the United States, Canada, and the United Kingdom.

Question 19

Once a company has decided to enter the global marketplace,it must select a means of market entry.One of the four general options is

Accepted Answer

A)  franchising. 
B)  joint venture. 
C)  cooperative. 
D)  multiparty initiative. 
E)  mutual investment. 
A)  franchising. 
B)  joint venture. 
C)  cooperative. 
D)  multiparty initiative. 
E)  mutual investment.

Question 20

Russia currently has a limit on pork of 400,000 metric tons annually that can be imported from any country.This restriction would be considered a

Accepted Answer

A)  tariff. 
B)  trade imbalance. 
C)  excise tax. 
D)  quota. 
E)  subsidy. 
A)  tariff. 
B)  trade imbalance. 
C)  excise tax. 
D)  quota. 
E)  subsidy.

Currency exchange rate refers to

Around the world,middle-class,youth,and elite markets that consume similar assortments of products and services,regardless of geographic location,are referred to as

If your primary motive was to raise prices on imports,would you use tariffs or quotas? Why would you want to do this?

The U.S.Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering __________,lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Explain the difference between joint venture and direct investment market entry strategies.What are the advantages and disadvantages of each approach?

The Malaysian government recently exchanged 20,000 tons of rice for an equivalent amount of Philippine corn.This transaction is an example of a

Which of the following is a disadvantage associated with licensing?

The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis; most tariffs that affect pricing practices have been removed; and

KFC has created many offerings for its menus in China to appeal to local tastes,including the "Dragon Twister," which is a chicken wrap with Peking-duck sauce.This is an example of which type of global marketing product and promotion strategy?

Since global marketing is affected by economic considerations,a scan of the global marketplace should include which of the following factors?

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

What are the product and promotion strategies available to a company seeking to enter the global marketplace? How do they relate to each other in terms of the same or adapted product and promotion?

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,define cross-cultural analysis.

What are the market entry strategy options available to a company seeking to enter the global marketplace? How do they relate to each other in terms of profit potential,risk,financial commitment required,and marketing control?

The law,as amended by the International Anti-Dumping and Fair Competition Act,that makes it a crime for U.S.corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country,is referred to as the

What global market entry strategy did Mary Kay use when it entered India?

The North American Free Trade Agreement was designed to encourage free trade between

Once a company has decided to enter the global marketplace,it must select a means of market entry.One of the four general options is

Russia currently has a limit on pork of 400,000 metric tons annually that can be imported from any country.This restriction would be considered a

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Marketing Research: From Customer Insights to Actions

Market Segmentation, targeting, and Positioning

Developing New Products and Services

Managing Successful Products, services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Building an Effective Marketing Plan

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Exam 6: Understanding and Reaching Global Consumers and Markets

Currency exchange rate refers to

Around the world,middle-class,youth,and elite markets that consume similar assortments of products and services,regardless of geographic location,are referred to as

If your primary motive was to raise prices on imports,would you use tariffs or quotas? Why would you want to do this?

The U.S.Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering __________,lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Explain the difference between joint venture and direct investment market entry strategies.What are the advantages and disadvantages of each approach?

The Malaysian government recently exchanged 20,000 tons of rice for an equivalent amount of Philippine corn.This transaction is an example of a

Which of the following is a disadvantage associated with licensing?

The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis; most tariffs that affect pricing practices have been removed; and

KFC has created many offerings for its menus in China to appeal to local tastes,including the "Dragon Twister," which is a chicken wrap with Peking-duck sauce.This is an example of which type of global marketing product and promotion strategy?

Since global marketing is affected by economic considerations,a scan of the global marketplace should include which of the following factors?

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

What are the product and promotion strategies available to a company seeking to enter the global marketplace? How do they relate to each other in terms of the same or adapted product and promotion?

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,define cross-cultural analysis.

What are the market entry strategy options available to a company seeking to enter the global marketplace? How do they relate to each other in terms of profit potential,risk,financial commitment required,and marketing control?

The law,as amended by the International Anti-Dumping and Fair Competition Act,that makes it a crime for U.S.corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country,is referred to as the

What global market entry strategy did Mary Kay use when it entered India?

The North American Free Trade Agreement was designed to encourage free trade between

Once a company has decided to enter the global marketplace,it must select a means of market entry.One of the four general options is

Russia currently has a limit on pork of 400,000 metric tons annually that can be imported from any country.This restriction would be considered a

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Marketing Research: From Customer Insights to Actions

Market Segmentation, targeting, and Positioning

Developing New Products and Services

Managing Successful Products, services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Building an Effective Marketing Plan

Filters