Exam 7: Understanding and Reaching Global Consumers and Markets

Private enterprise dominates __________ countries,although they have substantial public sectors as well.

day,in a third-class carriage of the express train that runs between Bombay and Ahmadabad,plainly dressed couriers carry precious cargo: diamonds.Rough gems are imported to Bombay from dealers in London,Antwerp,Tel Aviv,and New York.Couriers then take these gems to cutting and polishing centers in Gujarat state and then carry them back to Bombay to be reexported to the world.This system,based on trust,secrecy,and skilled low-cost labor,has worked for half a century.It has helped make India the world's premier center for diamond cutting and polishing.Nine out of every 10 stones sold in the world pass through India,making diamonds that country's largest export.India's ability to use its skilled labor as a resource is an example of what Michael Porter would term

skillfully using __________,global marketers can tie positive symbolism to their products,services,and brands to enhance their attractiveness to consumers.

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

an example of a global channel of distribution.

Which of the following statements about the World Trade Organization (WTO)is most accurate?

firm's profit potential and control over marketing activities increases as it moves from exporting to direct investment as a global market-entry strategy.But so does the firm's

woman from Bloomington,Indiana,is in Chicago for a weekend of shopping and fine dining.After shopping in at least 10 different stores and trying at least 20 different outfits,she finds exactly what she has been looking for-the perfect linen suit.At the register however,she notices that the label indicates that the suit was made in Ireland.Although she agrees with the salesclerk that the suit is indeed perfect,and that Irish linen is considered to be some of the best,she does not purchase that suit; instead,she selects a less flattering,more expensive suit that contains a label stating it was made in the United States.This behavior would likely be an example of

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

Cultural symbols refer to

Michael Porter has identified four key elements in a nation's competitive advantage: factor conditions; demand conditions; __________; and company strategy,structure,and rivalry.

Japanese car safety rules require all automobile replacement parts to be Japanese and EU nations have 10,000 rules that specify how goods are to be made and marketed.These are examples of

Fluctuations in the __________ among the world's currencies have direct impact on the sales and profits made by global companies.

Tariffs refer to

Which of the following types of firms would be most likely to use a global marketing strategy?

estimated cost of economic espionage to firms in the United States is estimated to be

Briefly describe the World Trade Organization (WTO)and its purpose.

Global companies have five strategies for matching products and their promotion efforts to global markets.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 strategy?

prescribed penalty for individuals found guilty of the theft of trade secrets is

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