Exam 6: Understanding and Reaching Global Consumers and Markets

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

-Global companies have five strategies for matching products and their promotion efforts to global markets. According to Figure 6-4 above, B refers to which type of strategy?

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

The argument for protectionism is that it

A gray market refers to

What is considered normal and expected about the way people do things in a specific country is referred to as __________.

KFC in Japan sells tempura crispy strips. In northern England, it stresses gravy and potatoes. In Thailand, it offers fresh rice. In Holland, instead of potatoes, KFC offers customers a potato and onion croquette. In France, KFC sells pastries alongside its chicken. These examples illustrate that KFC exhibits an appreciation for the __________ of other societies.

Indirect exporting refers to

Disney employed a(n) __________ marketing strategy for its Disneyland Paris, particularly when it came to the eateries in the park. These restaurants featured recipes that were revised for local tastes, alcoholic beverages (not permitted in previous parks), and increased outdoor seating.

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

There are __________ World Trade Organization countries, including the United States, which account for more than 90 percent of world trade.

In Latvia, only one six-lane highway exists, connecting Riga, its capitol, with Moscow. Otherwise, the roads are two-lane and many are made of cobblestones or bricks. This limits the speed with which deliveries can be made and requires that delivery trucks be quite small. The road network in Latvia is an example of problems with a country's

Which form of entry into a foreign market requires the greatest commitment?

In terms of the global marketplace, there are three primary types of companies: international firms, __________ firms, and transnational firms.

A global marketing strategy refers to

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

Five trends in the past decade have significantly influenced the landscape of global marketing. One of them is

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

What global market-entry strategy involves slightly more risk than indirect exporting for a company but also opens the door to increased profits?

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.