Question 1

Three types of companies populate and compete in the global marketplace.Identify and succinctly describe each type.

Accepted Answer

All three types of global companies empl

Question 2

restriction placed on the amount of a product allowed to enter or leave a country is referred to as a

Accepted Answer

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

Question 3

Changes in the products Americans buy and sell,additional jobs,and an improved standard of living are all effects of

Accepted Answer

A)  an increase in imports and an increase of exports. 
B)  an increase in imports and a decrease in exports. 
C)  a decrease in imports and a decrease in exports. 
D)  a state of equilibrium between imports and exports. 
E)  the reversal of importance between the services sector and the manufacturing sector. 
A)  an increase in imports and an increase of exports. 
B)  an increase in imports and a decrease in exports. 
C)  a decrease in imports and a decrease in exports. 
D)  a state of equilibrium between imports and exports. 
E)  the reversal of importance between the services sector and the manufacturing sector.

Question 4

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 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)  emergence of networked global marketspace. 
E)  an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism. 
A)  an increase in economic protectionism and a decline 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)  emergence of networked global marketspace. 
E)  an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism.

Question 5

Protectionism refers to

Accepted Answer

A)  the practice of purchasing products exclusively from a domestic market in order to shore up a nation's economy. 
B)  the use of tariffs, quotas, and boycotts with the express intention of putting foreign competitors out of business. 
C)  the practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas. 
D)  a form of domestic imperialism that holds that only those products manufactured within one's home nation are of sufficient quality to warrant purchase. 
E)  the practice of purchasing products exclusively from a foreign developing country in order to develop its industries and economic infrastructure. 
A)  the practice of purchasing products exclusively from a domestic market in order to shore up a nation's economy. 
B)  the use of tariffs, quotas, and boycotts with the express intention of putting foreign competitors out of business. 
C)  the practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas. 
D)  a form of domestic imperialism that holds that only those products manufactured within one's home nation are of sufficient quality to warrant purchase. 
E)  the practice of purchasing products exclusively from a foreign developing country in order to develop its industries and economic infrastructure.

Question 6

Thirteen- to nineteen-year-olds in Europe,North America,South America,and the industrialized nations of Asia

Accepted Answer

A)  are more similar than different regarding their purchase behavior. 
B)  are becoming more similar, but still differ significantly in terms of fashion and design. 
C)  are rebelling against the Americanization of fashion and culture. 
D)  have some very different appreciation of fashions and music. 
E)  are more and more influenced by Asian culture than European culture. 
A)  are more similar than different regarding their purchase behavior. 
B)  are becoming more similar, but still differ significantly in terms of fashion and design. 
C)  are rebelling against the Americanization of fashion and culture. 
D)  have some very different appreciation of fashions and music. 
E)  are more and more influenced by Asian culture than European culture.

Question 7

appreciation of fashion,music,and a desire for novelty and trendier designs and images

Accepted Answer

A)  are preferences found more in American teenagers than in most other cultures around the world. 
B)  actually begin at age 10, but begin to decline significantly as students enter high school. 
C)  ironically are found more for teenagers who cannot afford to make those purchases than for those who can. 
D)  are preferences of teenagers around the world regardless of whether they live. 
E)  rarely, if ever, change once established, which is why identifying these consumers is so important. 
A)  are preferences found more in American teenagers than in most other cultures around the world. 
B)  actually begin at age 10, but begin to decline significantly as students enter high school. 
C)  ironically are found more for teenagers who cannot afford to make those purchases than for those who can. 
D)  are preferences of teenagers around the world regardless of whether they live. 
E)  rarely, if ever, change once established, which is why identifying these consumers is so important.

Question 8

small Canadian winery located in British Columbia has developed a superior tasting 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 last 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 9

Which of the following statements reflects Michael Porter's theory regarding national competitive advantage?

Accepted Answer

A)  Clusters of strong suppliers can interfere with entry into a global market. 
B)  A firm that succeeds in global markets often has first succeeded in its domestic market. 
C)  A country's natural resources, education, and infrastructure often pose obstacles that cannot be overcome. 
D)  The first goal of a global marketer is to actively educate a nation's domestic customers. 
E)  A nation's domestic workforce is more motivated to work for foreign corporations than its own. 
A)  Clusters of strong suppliers can interfere with entry into a global market. 
B)  A firm that succeeds in global markets often has first succeeded in its domestic market. 
C)  A country's natural resources, education, and infrastructure often pose obstacles that cannot be overcome. 
D)  The first goal of a global marketer is to actively educate a nation's domestic customers. 
E)  A nation's domestic workforce is more motivated to work for foreign corporations than its own.

Question 10

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

Accepted Answer

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

Question 11

multidomestic marketing strategy refers to

Accepted Answer

A)  the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ. 
B)  the strategy used by firms that use the same product variations, brand names, and advertising programs for every country in which they do business. 
C)  the strategy used by firms that have as many different product variations, brand names, and advertising programs as countries in which they do business. 
D)  the strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm's products through the host nation's established infrastructure. 
E)  the strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation or consumer education. 
A)  the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ. 
B)  the strategy used by firms that use the same product variations, brand names, and advertising programs for every country in which they do business. 
C)  the strategy used by firms that have as many different product variations, brand names, and advertising programs as countries in which they do business. 
D)  the strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm's products through the host nation's established infrastructure. 
E)  the strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation or consumer education.

Question 12

at least one argument for and one argument against protectionism.

Accepted Answer

People who favor protectionism believe t

Question 13

gray market refers to

Accepted Answer

A)  the segment of products specifically designed for the need of older buyers. 
B)  a situation where products are sold through unauthorized channels of distribution. 
C)  a once active and powerful market that is rapidly becoming the bottom of the barrel. 
D)  a pricing structure that is based upon "haggling" that is considered acceptable in some countries but not others. 
E)  the willingness of one party to accept "gifts" in exchange for better prices or price allowances. 
A)  the segment of products specifically designed for the need of older buyers. 
B)  a situation where products are sold through unauthorized channels of distribution. 
C)  a once active and powerful market that is rapidly becoming the bottom of the barrel. 
D)  a pricing structure that is based upon "haggling" that is considered acceptable in some countries but not others. 
E)  the willingness of one party to accept "gifts" in exchange for better prices or price allowances.

Question 14

Figure 7-5
-According to Figure 7-5 above,points "A" and "D" would most likely be __________ and __________ respectively.

Accepted Answer

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

Question 15

Motorola developed a low-cost cell phone with battery life as long as 500 hours for rural villagers without regular electricity and an extra-loud volume for use in noisy markets.This phone,a no-frills design priced at $40,is most likely targeted to people at the

Accepted Answer

A)  focal point of economic change. 
B)  pivot point of economic growth. 
C)  bottom of the pyramid. 
D)  bottom of the economic pool. 
E)  edge of global evolution. 
A)  focal point of economic change. 
B)  pivot point of economic growth. 
C)  bottom of the pyramid. 
D)  bottom of the economic pool. 
E)  edge of global evolution.

Question 16

Based on a study of 6,500 teens in 26 countries,when asked what country had the most influence on their attitudes and purchase behavior,54 percent of teens from the United States,87 percent of those from Latin America,80 percent of the Europeans,and 80 percent of those from Asia named

Accepted Answer

A)  the United States. 
B)  the United Kingdom. 
C)  Japan. 
D)  France. 
E)  Russia. 
A)  the United States. 
B)  the United Kingdom. 
C)  Japan. 
D)  France. 
E)  Russia.

Question 17

Which of the following statements about the dynamics of world trade is most accurate?

Accepted Answer

A)  As the largest international marketer, the United States accounts for 85 percent of world trade. 
B)  World trade refers exclusively to the exchange of money for goods or services. 
C)  An estimated 35 percent of world trade involves countertrade. 
D)  European intratrade is smaller but more powerful than for any of the other world regions. 
E)  The United States, Western Europe, Canada, China, and Japan together account for more than two-thirds of world trade in manufactured goods and commodities. 
A)  As the largest international marketer, the United States accounts for 85 percent of world trade. 
B)  World trade refers exclusively to the exchange of money for goods or services. 
C)  An estimated 35 percent of world trade involves countertrade. 
D)  European intratrade is smaller but more powerful than for any of the other world regions. 
E)  The United States, Western Europe, Canada, China, and Japan together account for more than two-thirds of world trade in manufactured goods and commodities.

Question 18

global marketing strategy refers to

Accepted Answer

A)  the strategy of transnational firms not to employ adaptive marketing techniques when there are cultural differences, but to redefine their target markets instead. 
B)  the strategy of transnational firms not to employ adaptive marketing techniques when there are cultural differences, but to redirect their marketing resources towards customer education. 
C)  the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ. 
D)  the strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm's products through host nation's established infrastructure. 
E)  the strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation or consumer education. 
A)  the strategy of transnational firms not to employ adaptive marketing techniques when there are cultural differences, but to redefine their target markets instead. 
B)  the strategy of transnational firms not to employ adaptive marketing techniques when there are cultural differences, but to redirect their marketing resources towards customer education. 
C)  the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ. 
D)  the strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm's products through host nation's established infrastructure. 
E)  the strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation or consumer education.

Question 19

four largest importers of U.S.goods and services are

Accepted Answer

A)  Japan, Germany, China, and Canada. 
B)  Canada, China, Japan, and Mexico. 
C)  China, Brazil, Japan, and Germany. 
D)  Mexico, Canada, Europe, and China. 
E)  England, Canada, Australia, and New Zealand. 
A)  Japan, Germany, China, and Canada. 
B)  Canada, China, Japan, and Mexico. 
C)  China, Brazil, Japan, and Germany. 
D)  Mexico, Canada, Europe, and China. 
E)  England, Canada, Australia, and New Zealand.

Question 20

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

Accepted Answer

A)  worldwide 
B)  conglomerate 
C)  intercontinental 
D)  international 
E)  cosmopolitan 
A)  worldwide 
B)  conglomerate 
C)  intercontinental 
D)  international 
E)  cosmopolitan

Exam 7: Understanding and Reaching Global Consumers and Markets

Three types of companies populate and compete in the global marketplace.Identify and succinctly describe each type.

restriction placed on the amount of a product allowed to enter or leave a country is referred to as a

Changes in the products Americans buy and sell,additional jobs,and an improved standard of living are all effects of

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

Protectionism refers to

Thirteen- to nineteen-year-olds in Europe,North America,South America,and the industrialized nations of Asia

appreciation of fashion,music,and a desire for novelty and trendier designs and images

Which of the following statements reflects Michael Porter's theory regarding national competitive advantage?

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

multidomestic marketing strategy refers to

at least one argument for and one argument against protectionism.

gray market refers to

Figure 7-5 -According to Figure 7-5 above,points "A" and "D" would most likely be __________ and __________ respectively.

Motorola developed a low-cost cell phone with battery life as long as 500 hours for rural villagers without regular electricity and an extra-loud volume for use in noisy markets.This phone,a no-frills design priced at $40,is most likely targeted to people at the

Based on a study of 6,500 teens in 26 countries,when asked what country had the most influence on their attitudes and purchase behavior,54 percent of teens from the United States,87 percent of those from Latin America,80 percent of the Europeans,and 80 percent of those from Asia named

Which of the following statements about the dynamics of world trade is most accurate?

global marketing strategy refers to

four largest importers of U.S.goods and services are

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

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

Filters

Figure 7-5 -According to Figure 7-5 above,points "A" and "D" would most likely be and respectively.