Question 1

Direct exporting refers to

Accepted Answer

A)  offering the right to a trademark, patent, trade secret, or similarly valued items of intellectual property in return for a royalty or fee. 
B)  contracting with a foreign firm to manufacture products according to certain specifications. 
C)  when a foreign country and a local firm invest together to create a local business. 
D)  when a firm sells its domestically produced goods in a foreign country through an intermediary. 
E)  when a firm sells its domestically produced goods in a foreign country without intermediaries. 
A)  offering the right to a trademark, patent, trade secret, or similarly valued items of intellectual property in return for a royalty or fee. 
B)  contracting with a foreign firm to manufacture products according to certain specifications. 
C)  when a foreign country and a local firm invest together to create a local business. 
D)  when a firm sells its domestically produced goods in a foreign country through an intermediary. 
E)  when a firm sells its domestically produced goods in a foreign country without intermediaries.

Question 2

Economic espionage is the clandestine collection of trade secrets or __________.

Accepted Answer

A)  government economic information 
B)  industrial intelligence 
C)  proprietary information about competitors 
D)  government weapons information 
E)  banking lists 
A)  government economic information 
B)  industrial intelligence 
C)  proprietary information about competitors 
D)  government weapons information 
E)  banking lists

Question 3

Figure 7-1
-According to Figure 7-1 above,which of the following countries is the world's leading importer?

Accepted Answer

A)  France 
B)  Germany 
C)  Japan 
D)  United States 
E)  China 
A)  France 
B)  Germany 
C)  Japan 
D)  United States 
E)  China

Question 4

Wilson Creative Cosmetics attributes its success to a top-quality product,effective advertising,and a novel __________ program.

Accepted Answer

A)  joint venture 
B)  cooperative agreement 
C)  franchise operation 
D)  export marketing 
E)  direct investment 
A)  joint venture 
B)  cooperative agreement 
C)  franchise operation 
D)  export marketing 
E)  direct investment

Question 5

a degree,every country engages in some form of protectionism.Over the past 50 years however,this practice has diminished,in large part due to

Accepted Answer

A)  an alignment of nations by ethnicity rather than geographical borders. 
B)  an increase in population and a decrease in resources. 
C)  the evolution of mass media. 
D)  the establishment of GATT. 
E)  an alignment of nations by political ideology rather than geographical borders. 
A)  an alignment of nations by ethnicity rather than geographical borders. 
B)  an increase in population and a decrease in resources. 
C)  the evolution of mass media. 
D)  the establishment of GATT. 
E)  an alignment of nations by political ideology rather than geographical borders.

Question 6

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 United States)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.

Accepted Answer

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

Question 7

a firm sells its domestically produced goods in a foreign country through an intermediary,it is referred to as

Accepted Answer

A)  direct exporting. 
B)  indirect exporting. 
C)  licensing. 
D)  contract manufacturing. 
E)  foreign assembly. 
A)  direct exporting. 
B)  indirect exporting. 
C)  licensing. 
D)  contract manufacturing. 
E)  foreign assembly.

Question 8

European Union consists of 27 member countries.This single market houses more than __________ million consumers with a combined GDP that is larger than that of the United States.

Accepted Answer

A)  100 
B)  200 
C)  300 
D)  400 
E)  500 
A)  100 
B)  200 
C)  300 
D)  400 
E)  500

Question 9

Michael Porter has identified four key elements to explain why some companies and industries succeed globally while others fail.These four elements are collectively referred as

Accepted Answer

A)  the balance of trade wheel. 
B)  the points of difference effect. 
C)  the trade feedback effect. 
D)  the international trade pyramid. 
E)  the diamond of national competitive advantage. 
A)  the balance of trade wheel. 
B)  the points of difference effect. 
C)  the trade feedback effect. 
D)  the international trade pyramid. 
E)  the diamond of national competitive advantage.

Question 10

you wanted to set up a business importing amber from Latvia to the United States,you would have to plan on paying the U.S.Customs Service roughly 20 percent of the value of the product as a(n)__________.

Accepted Answer

A)  bribe 
B)  tariff 
C)  subsidy 
D)  excise tax 
E)  quota 
A)  bribe 
B)  tariff 
C)  subsidy 
D)  excise tax 
E)  quota

Question 11

signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.Discuss this statement.

Accepted Answer

This statement indicates that the U.S.Tr

Question 12

Which of the following is an example of a demand condition?

Accepted Answer

A)  available natural resources 
B)  existence of supplier clusters 
C)  sophistication of consumers 
D)  intensity of competition 
E)  competitive wage rates 
A)  available natural resources 
B)  existence of supplier clusters 
C)  sophistication of consumers 
D)  intensity of competition 
E)  competitive wage rates

Question 13

Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of product 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 14

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

Accepted Answer

A)  A global brand is marketed under different names but uses identical ads for all markets. 
B)  A global brand has centrally coordinated marketing programs. 
C)  A global brand alters the product formulation or service for each geographical region. 
D)  A global brand delivers multiple benefits based on the GDP of each country. 
E)  A global brand is a collaborative effort among several different national firms. 
A)  A global brand is marketed under different names but uses identical ads for all markets. 
B)  A global brand has centrally coordinated marketing programs. 
C)  A global brand alters the product formulation or service for each geographical region. 
D)  A global brand delivers multiple benefits based on the GDP of each country. 
E)  A global brand is a collaborative effort among several different national firms.

Question 15

a general rule,__________ seems to work best when the consumer market target for the product is alike across countries and cultures-that is,consumers share the same desires,needs,and use for the product.

Accepted Answer

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

Question 16

is the term for a firm selling a product in a foreign country below its domestic price or below its actual cost?

Accepted Answer

A)  dumping 
B)  surplus marketing 
C)  second-market pricing 
D)  channeling 
E)  entrepreneurial pricing 
A)  dumping 
B)  surplus marketing 
C)  second-market pricing 
D)  channeling 
E)  entrepreneurial pricing

Question 17

belief that aspects of one's culture are superior to another's is referred to as

Accepted Answer

A)  cultural ethnocentricity. 
B)  consumer ethnocentrism. 
C)  cultural commitment. 
D)  cross-cultural bias. 
E)  cultural imperialism. 
A)  cultural ethnocentricity. 
B)  consumer ethnocentrism. 
C)  cultural commitment. 
D)  cross-cultural bias. 
E)  cultural imperialism.

Question 18

form of low-risk and capital-free entry into international markets that includes local manufacturing and local assembly is referred to as

Accepted Answer

A)  indirect exporting. 
B)  direct ownership. 
C)  joint ventures. 
D)  licensing. 
E)  direct exporting. 
A)  indirect exporting. 
B)  direct ownership. 
C)  joint ventures. 
D)  licensing. 
E)  direct exporting.

Question 19

Parthenon Photo
-field of study that examines the correspondence between symbols and their role in the assignment of meaning for people is referred to as

Accepted Answer

A)  back translation. 
B)  symbiotics. 
C)  semiotics. 
D)  symbolic linguistics. 
E)  cross-cultural analysis. 
A)  back translation. 
B)  symbiotics. 
C)  semiotics. 
D)  symbolic linguistics. 
E)  cross-cultural analysis.

Question 20

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

Accepted Answer

A)  Manufactured goods and commodities account for only 10 percent of world trade. 
B)  Three-fourths of world trade includes services such as telecommunications, transportation, and banking. 
C)  World trade will likely exceed $25 trillion by 2015. 
D)  All nations participate equally in world trade. 
E)  There is still greater growth potential in developed countries than emerging ones. 
A)  Manufactured goods and commodities account for only 10 percent of world trade. 
B)  Three-fourths of world trade includes services such as telecommunications, transportation, and banking. 
C)  World trade will likely exceed $25 trillion by 2015. 
D)  All nations participate equally in world trade. 
E)  There is still greater growth potential in developed countries than emerging ones.

Exam 7: Understanding and Reaching Global Consumers and Markets

Direct exporting refers to

Economic espionage is the clandestine collection of trade secrets or __________.

Figure 7-1 -According to Figure 7-1 above,which of the following countries is the world's leading importer?

Wilson Creative Cosmetics attributes its success to a top-quality product,effective advertising,and a novel __________ program.

a degree,every country engages in some form of protectionism.Over the past 50 years however,this practice has diminished,in large part due to

a firm sells its domestically produced goods in a foreign country through an intermediary,it is referred to as

European Union consists of 27 member countries.This single market houses more than __________ million consumers with a combined GDP that is larger than that of the United States.

Michael Porter has identified four key elements to explain why some companies and industries succeed globally while others fail.These four elements are collectively referred as

you wanted to set up a business importing amber from Latvia to the United States,you would have to plan on paying the U.S.Customs Service roughly 20 percent of the value of the product as a(n)__________.

signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.Discuss this statement.

Which of the following is an example of a demand condition?

Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of product strategy?

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

a general rule,__________ seems to work best when the consumer market target for the product is alike across countries and cultures-that is,consumers share the same desires,needs,and use for the product.

is the term for a firm selling a product in a foreign country below its domestic price or below its actual cost?

belief that aspects of one's culture are superior to another's is referred to as

form of low-risk and capital-free entry into international markets that includes local manufacturing and local assembly is referred to as

Parthenon Photo -field of study that examines the correspondence between symbols and their role in the assignment of meaning for people is referred to as

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

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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