Exam 7: Understanding and Reaching Global Consumers and Markets

FIGURE 7-7 -When Nestlé actually owns a subsidiary or division in a foreign country, such as when it established its own ice cream manufacturing operation in China (see Figure 7-7 above), this global market entry strategy is known as __________ and represents the greatest commitment a company can make.

The price of one country's currency expressed in terms of another country's currency is referred to as

Beginning January 1, 2005 China lifted the import quotas and lowered tariffs on automobiles.This removal of the quotas and the lowering of tariffs is an example of

The European Union is an economic and political union of __________ member countries located primarily in Europe that have eliminated most barriers to the free flow of goods, services, capital and labor across their borders.

In recent years, a number of countries with similar economic goals have formed transnational trade groups or signed trade agreements for the purpose of promoting free trade.Describe the best-known three.

When firms originate, produce, and market their products and services worldwide, it is referred to as __________.

The practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors is referred to as

direct investment.

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?

Coca-Cola, Gillette razors, and Wrigley's gum are virtually selling the same product in other countries.This is an example of which type of international product strategy?

Which of the following statements regarding global brands is most accurate?

Although Russia now has a free economy, there are still some problems within the financial and legal system with the notion of

FIGURE 7-6 -According to Figure 7-6 above, points "A" would most likely be __________.

The world's largest manufacturer of peppermint candy canes was in Albany, Georgia, until it could no longer afford to buy the sugar needed for its operation.It moved its manufacturing business to Mexico where there are no restrictions (as existed in the U.S.) on the amount of sugar that can be brought into the nation.The movement of this U.S.business to Mexico was caused by a(n) __________ established by the U.S.government.

Which of the following statements about the emergence of a networked global marketspace is most accurate?

The strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ are referred to as a(n)

There are 20 official languages spoken in the European Union, and Canada has two official languages which are

Which of the following statements concerning currency exchange rates is most accurate?

FIGURE 7-6 -According to Figure 7-6 above, points "D" would most likely be __________.

A situation where products are bought in a lower-priced country from a manufacturer's authorized reseller, shipped to higher-priced countries, and sold through unauthorized retailers below the manufacturer's suggested retail price, is referred to as __________.