Question 1

Customs refer to

Accepted Answer

A)  what is considered normal and expected about the way people do things in a specific country. 
B)  those actions or activities within a community that are unique or distinctly different from any other group. 
C)  actions or behaviors that are repeated over time and carry a specific meaning only to a unique group, nationality, or ethnicity. 
D)  traditions among a group of people, a nation, or ethnicity that affect their purchase behaviors. 
E)  what would be considered unusual or unexpected, and even unacceptable about the way people do things in a specific country. 
A)  what is considered normal and expected about the way people do things in a specific country. 
B)  those actions or activities within a community that are unique or distinctly different from any other group. 
C)  actions or behaviors that are repeated over time and carry a specific meaning only to a unique group, nationality, or ethnicity. 
D)  traditions among a group of people, a nation, or ethnicity that affect their purchase behaviors. 
E)  what would be considered unusual or unexpected, and even unacceptable about the way people do things in a specific country.

Question 2

Figure 7-5
-According to Figure 7-5 above,point "B" would most likely be __________.

Accepted Answer

A)  exporting 
B)  joint venture 
C)  direct investment 
D)  franchising 
E)  licensing 
A)  exporting 
B)  joint venture 
C)  direct investment 
D)  franchising 
E)  licensing

Question 3

Competitive advantage for global firms grows out of continuous improvement,__________,and change.

Accepted Answer

A)  product quality 
B)  employment of a multicultural or multinational staff 
C)  membership in a formalized trade organization 
D)  market research 
E)  innovation 
A)  product quality 
B)  employment of a multicultural or multinational staff 
C)  membership in a formalized trade organization 
D)  market research 
E)  innovation

Question 4

Figure 7-7
-Figure above 7-7 outlines the distribution channels through which a product manufactured in one country must travel to reach its destination in another country.Channels of distribution in global marketing are often long and complex."A" represents the __________ and "B" identifies the __________.

Accepted Answer

A)  seller; final consumer 
B)  seller; seller's international marketing headquarters 
C)  seller international marketing headquarters; channels between nations 
D)  channels between nations; channels within foreign nations 
E)  channels within foreign nations; final consumer 
A)  seller; final consumer 
B)  seller; seller's international marketing headquarters 
C)  seller international marketing headquarters; channels between nations 
D)  channels between nations; channels within foreign nations 
E)  channels within foreign nations; final consumer

Question 5

Although there are many factors contributing to the success of major global marketers,a common theme seems to be that they

Accepted Answer

A)  first became involved with a formalized trade organization, such as the WTO. 
B)  specialized in services rather than consumer goods. 
C)  employed a multicultural or multinational staff. 
D)  first succeeded in intense domestic competition. 
E)  were the largest companies in their industry. 
A)  first became involved with a formalized trade organization, such as the WTO. 
B)  specialized in services rather than consumer goods. 
C)  employed a multicultural or multinational staff. 
D)  first succeeded in intense domestic competition. 
E)  were the largest companies in their industry.

Question 6

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 7

Personally or socially preferable modes of conduct or states of existence that tend to persist over time are referred to as __________.

Accepted Answer

A)  customs 
B)  ethics 
C)  values 
D)  culture 
E)  beliefs 
A)  customs 
B)  ethics 
C)  values 
D)  culture 
E)  beliefs

Question 8

Countertrade refers to

Accepted Answer

A)  the illegal agreement of one country to buy products exclusively from another. 
B)  the legal agreement of one country to buy products exclusively with another. 
C)  the practice of using barter rather than money for making global sales. 
D)  the sale of industrial goods from a brick and mortar outlet rather than directly from the manufacturer. 
E)  the use of legal tender in making global sales. 
A)  the illegal agreement of one country to buy products exclusively from another. 
B)  the legal agreement of one country to buy products exclusively with another. 
C)  the practice of using barter rather than money for making global sales. 
D)  the sale of industrial goods from a brick and mortar outlet rather than directly from the manufacturer. 
E)  the use of legal tender in making global sales.

Question 9

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

Accepted Answer

A)  an increase in economic protectionism and a decline in free trade. 
B)  a more aggressive attitude towards initiating international tariffs and quota systems. 
C)  a decrease in most countries' GDPs and a renewal of nationalism. 
D)  the formal economic integration and free trade among nations. 
E)  an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism. 
A)  an increase in economic protectionism and a decline in free trade. 
B)  a more aggressive attitude towards initiating international tariffs and quota systems. 
C)  a decrease in most countries' GDPs and a renewal of nationalism. 
D)  the formal economic integration and free trade among nations. 
E)  an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism.

Question 10

__________ is an international treaty intended to limit trade barriers and promote world trade through the reduction of tariffs.

Accepted Answer

A)  North Atlantic Treaty Organization (NATO) 
B)  General Agreement on Tariffs and Trade (GATT) 
C)  North American Free Trade Agreement (NAFT
A)  
D)  World Trade Association Treaty (WTAT) 
E)  United Nations Agreement on Trade (UNAT) 
A)  North Atlantic Treaty Organization (NATO) 
B)  General Agreement on Tariffs and Trade (GATT) 
C)  North American Free Trade Agreement (NAFT
A)  
D)  World Trade Association Treaty (WTAT) 
E)  United Nations Agreement on Trade (UNAT)

Question 11

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 12

Collaborative relationships are becoming a common way to meet the demands of global competition.Global __________ are agreements between two or more independent firms to cooperate for the purpose of achieving common goals such as a competitive advantage or customer value creation.

Accepted Answer

A)  compacts 
B)  collaborative treaties 
C)  strategic alliances 
D)  free trade agreements 
E)  economic coalitions 
A)  compacts 
B)  collaborative treaties 
C)  strategic alliances 
D)  free trade agreements 
E)  economic coalitions

Question 13

prescribed penalty for agents of foreign governments found guilty of economic espionage is

Accepted Answer

A)  up to 15 years in prison and fines up to $500,000. 
B)  life in prison with chance of parole after 25 years. 
C)  25 years in prison and a $10 million fine. 
D)  permanent expulsion from the United States. 
E)  30 years in prison and fines proportional to the damage caused. 
A)  up to 15 years in prison and fines up to $500,000. 
B)  life in prison with chance of parole after 25 years. 
C)  25 years in prison and a $10 million fine. 
D)  permanent expulsion from the United States. 
E)  30 years in prison and fines proportional to the damage caused.

Question 14

McDonald's sells its popular Maharaja Mac that consists of two all-chicken patties,special sauce,lettuce,cheese,pickles,and onions on a sesame-seed bun in __________.

Accepted Answer

A)  Russia 
B)  China 
C)  Tanzania 
D)  Egypt 
E)  India 
A)  Russia 
B)  China 
C)  Tanzania 
D)  Egypt 
E)  India

Question 15

Another term for a gray market is

Accepted Answer

A)  parallel exporting. 
B)  back-channel market. 
C)  mature marketing. 
D)  parallel importing. 
E)  transparent market. 
A)  parallel exporting. 
B)  back-channel market. 
C)  mature marketing. 
D)  parallel importing. 
E)  transparent market.

Question 16

PRS group maintains a website that can be used to determine

Accepted Answer

A)  changing demographic and psychographic data for each country in the registry. 
B)  a country's political risk ratings using multiple databases of country-specific information. 
C)  the tariffs of each country and their relative effect on product/services sales. 
D)  the rankings of American products relative to domestic equivalents in each country. 
E)  changing social trends within different segments of the economy. 
A)  changing demographic and psychographic data for each country in the registry. 
B)  a country's political risk ratings using multiple databases of country-specific information. 
C)  the tariffs of each country and their relative effect on product/services sales. 
D)  the rankings of American products relative to domestic equivalents in each country. 
E)  changing social trends within different segments of the economy.

Question 17

Figure 7-2
-According to Michael Porter's diamond in Figure 7-2 above,quadrant "A" represents

Accepted Answer

A)  factor conditions. 
B)  related and supporting industries. 
C)  demand conditions. 
D)  managerial conditions. 
E)  company strategy, structure, and rivalry. 
A)  factor conditions. 
B)  related and supporting industries. 
C)  demand conditions. 
D)  managerial conditions. 
E)  company strategy, structure, and rivalry.

Question 18

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 19

Economic infrastructure refers to

Accepted Answer

A)  a nation's military-industrial complex. 
B)  a country's governmental services. 
C)  the people and the wealth of a nation. 
D)  a country's communication, transportation, financial, and distribution systems. 
E)  all of a country's natural resources, whether or not they are currently being exploited. 
A)  a nation's military-industrial complex. 
B)  a country's governmental services. 
C)  the people and the wealth of a nation. 
D)  a country's communication, transportation, financial, and distribution systems. 
E)  all of a country's natural resources, whether or not they are currently being exploited.

Question 20

Tiffany & Company knows that Japanese are superstitious about the number 4.As a result,Tiffany sells its fine glassware and china in sets of five,not four,in Japan.Tiffany has used its knowledge of __________ to avoid connecting its products with the number 4.

Accepted Answer

A)  trademarks 
B)  visual icons 
C)  cultural symbols 
D)  brand names 
E)  ethnic emblems 
A)  trademarks 
B)  visual icons 
C)  cultural symbols 
D)  brand names 
E)  ethnic emblems

Exam 7: Understanding and Reaching Global Consumers and Markets

Customs refer to

Figure 7-5 -According to Figure 7-5 above,point "B" would most likely be __________.

Competitive advantage for global firms grows out of continuous improvement,__________,and change.

Although there are many factors contributing to the success of major global marketers,a common theme seems to be that they

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?

Personally or socially preferable modes of conduct or states of existence that tend to persist over time are referred to as __________.

Countertrade refers to

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

__________ is an international treaty intended to limit trade barriers and promote world trade through the reduction of tariffs.

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

Collaborative relationships are becoming a common way to meet the demands of global competition.Global __________ are agreements between two or more independent firms to cooperate for the purpose of achieving common goals such as a competitive advantage or customer value creation.

prescribed penalty for agents of foreign governments found guilty of economic espionage is

McDonald's sells its popular Maharaja Mac that consists of two all-chicken patties,special sauce,lettuce,cheese,pickles,and onions on a sesame-seed bun in __________.

Another term for a gray market is

PRS group maintains a website that can be used to determine

Figure 7-2 -According to Michael Porter's diamond in Figure 7-2 above,quadrant "A" represents

currency exchange rate refers to

Economic infrastructure refers to

Tiffany & Company knows that Japanese are superstitious about the number 4.As a result,Tiffany sells its fine glassware and china in sets of five,not four,in Japan.Tiffany has used its knowledge of __________ to avoid connecting its products with the number 4.

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

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

Services Marketing

Building the Price Foundation

Arriving at the Final Price

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 Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

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