Question 1

Agreements between two or more independent firms to cooperate for the purpose of achieving common goals are referred to as

Accepted Answer

A)  compacts. 
B)  global partnerships. 
C)  strategic alliances. 
D)  free trade agreements. 
E)  economic coalitions. 
A)  compacts. 
B)  global partnerships. 
C)  strategic alliances. 
D)  free trade agreements. 
E)  economic coalitions.

Question 2

Nescafé coffee is marketed using different coffee blends and promotional campaigns to match consumer preferences in different countries.For example Nescafé generally emphasizes the taste,aroma,and warmth of shared moments in its advertising around the world.However in Thailand Nescafé is advertised as a way to relax from the pressures of daily life.Nescafé is using which type of product strategy?

Accepted Answer

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

Question 3

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

Accepted Answer

A)  The World Trade organization is a temporary institution. 
B)  The 153 member countries of the WTO account for less than 25 percent of world trade. 
C)  The WTO sets rules governing trade among its members. 
D)  The WTO uses panels of trade experts who can issue non-binding recommendations. 
E)  The WTO was formed by the United Nations. 
A)  The World Trade organization is a temporary institution. 
B)  The 153 member countries of the WTO account for less than 25 percent of world trade. 
C)  The WTO sets rules governing trade among its members. 
D)  The WTO uses panels of trade experts who can issue non-binding recommendations. 
E)  The WTO was formed by the United Nations.

Question 4

reverence that Japan shows towards its elderly is an example of the nation's __________.

Accepted Answer

A)  values 
B)  beliefs 
C)  customs 
D)  religion 
E)  cultural diversity 
A)  values 
B)  beliefs 
C)  customs 
D)  religion 
E)  cultural diversity

Question 5

Parthenon Photo
-Parthenon,shown in the photo above,evokes strong feelings from consumers in Greece.As a result,marketers must be mindful in accessing the meaning of this __________ when developing marketing programs to reach consumers of a specific country.

Accepted Answer

A)  cultural symbol 
B)  secret codes 
C)  back translations 
D)  semantic symbolisms 
E)  semiotics 
A)  cultural symbol 
B)  secret codes 
C)  back translations 
D)  semantic symbolisms 
E)  semiotics

Question 6

Global marketing is also affected by economic considerations.Identify the three steps that should be performed when scanning the global marketplace.

Accepted Answer

A scan of the global marketplace should

Question 7

Figure 7-2
-According to Michael Porter's diamond in Figure 7-2 above,quadrant "B" 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 8

Figure 7-3
-box with the "?" in Figure 7-3 above leads to which of the following as a result of the imposition of tariffs and quotas based on protectionist policies of a country?

Accepted Answer

A)  an increase in world trade 
B)  a decrease in world trade 
C)  a limit on exports 
D)  a limit on imports 
E)  countertrade 
A)  an increase in world trade 
B)  a decrease in world trade 
C)  a limit on exports 
D)  a limit on imports 
E)  countertrade

Question 9

monetary value of all goods and services produced in a country during one year is referred to as the

Accepted Answer

A)  gross national production. 
B)  national monetary reserve. 
C)  gross domestic product. 
D)  monetary domestic product. 
E)  annual national product. 
A)  gross national production. 
B)  national monetary reserve. 
C)  gross domestic product. 
D)  monetary domestic product. 
E)  annual national product.

Question 10

Nestlé actually owns a subsidiary or division in a foreign country,such as when it established its own ice cream manufacturing operation in China,this global market entry strategy is known as __________ and represents the greatest commitment a company can make.

Accepted Answer

A)  licensing 
B)  local assembly 
C)  a joint venture 
D)  direct investment 
E)  local manufacturing 
A)  licensing 
B)  local assembly 
C)  a joint venture 
D)  direct investment 
E)  local manufacturing

Question 11

Which of the following issues raises concerns about the ethics of protectionism?

Accepted Answer

A)  Competitive advantage grows out of continuous improvement. 
B)  Small firms succeed in foreign niche markets. 
C)  Tariffs have declined from an average of 40 percent to less than 5 percent. 
D)  Regional trade agreements provide preferential treatment for member nations. 
E)  Pan-European marketing strategies are possible due to greater uniformity in packaging standards. 
A)  Competitive advantage grows out of continuous improvement. 
B)  Small firms succeed in foreign niche markets. 
C)  Tariffs have declined from an average of 40 percent to less than 5 percent. 
D)  Regional trade agreements provide preferential treatment for member nations. 
E)  Pan-European marketing strategies are possible due to greater uniformity in packaging standards.

Question 12

Pepsi-Cola,now available in more than 160 countries and territories,accounts for __________ percent of all soft drinks sold internationally.

Accepted Answer

A)  10 
B)  15 
C)  20 
D)  25 
E)  30 
A)  10 
B)  15 
C)  20 
D)  25 
E)  30

Question 13

percentage of world trade involves countertrade?

Accepted Answer

A)  5 percent to 10 percent 
B)  15 percent to 20 percent 
C)  25 percent to 30 percent 
D)  roughly 50 percent 
E)  Countertrade is so pervasive that it cannot accurately be calculated. 
A)  5 percent to 10 percent 
B)  15 percent to 20 percent 
C)  25 percent to 30 percent 
D)  roughly 50 percent 
E)  Countertrade is so pervasive that it cannot accurately be calculated.

Question 14

become leaders in the world market,countries need related and supporting industries because

Accepted Answer

A)  collaborative suppliers can generate revenue for further investment. 
B)  they can eliminate the need to import materials from other countries. 
C)  clusters of strong suppliers can accelerate innovation. 
D)  most countries still believe strongly in protectionism. 
E)  their union lessens financial vulnerability and increases buying power. 
A)  collaborative suppliers can generate revenue for further investment. 
B)  they can eliminate the need to import materials from other countries. 
C)  clusters of strong suppliers can accelerate innovation. 
D)  most countries still believe strongly in protectionism. 
E)  their union lessens financial vulnerability and increases buying power.

Question 15

permanent institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the __________.

Accepted Answer

A)  League of Nations 
B)  World Trade Organization (WTO) 
C)  Association for Commerce Equity (AC
E)  
D)  United Nations Board of Trade (UNBT) 
E)  Global Better Business Bureau (BBB-G) 
A)  League of Nations 
B)  World Trade Organization (WTO) 
C)  Association for Commerce Equity (AC
E)  
D)  United Nations Board of Trade (UNBT) 
E)  Global Better Business Bureau (BBB-G)

Question 16

foreign currencies can buy more U.S.dollars,

Accepted Answer

A)  products are more expensive and worth less to foreign customers. 
B)  products are more expensive and worth more to foreign customers. 
C)  products are less expensive and worth more to foreign customers. 
D)  economists consider it an indicator of an impending long-term economic downturn. 
E)  American consumers buy in large quantities and stockpile in fear of an impending economic crisis. 
A)  products are more expensive and worth less to foreign customers. 
B)  products are more expensive and worth more to foreign customers. 
C)  products are less expensive and worth more to foreign customers. 
D)  economists consider it an indicator of an impending long-term economic downturn. 
E)  American consumers buy in large quantities and stockpile in fear of an impending economic crisis.

Question 17

Dutch lead the world in the cut-flower industry because of their research in flower cultivation,packaging,and shipping.Using this knowledge as a resource is an example of what Michael Porter would term

Accepted Answer

A)  structural conditions. 
B)  demand conditions. 
C)  sociocultural conditions. 
D)  competitive conditions. 
E)  factor conditions. 
A)  structural conditions. 
B)  demand conditions. 
C)  sociocultural conditions. 
D)  competitive conditions. 
E)  factor conditions.

Question 18

Which of the following examples best demonstrates a company's appreciation of another country's values?

Accepted Answer

A)  American companies in Germany encourage the use of all types of credit cards. 
B)  In Brazil, American companies are extremely careful to keep to a strict agenda and time schedule, even though an informal structure is preferred. 
C)  Bath products are advertised by portraying intimate scenes between husbands and wives in countries where personal privacy is important. 
D)  McDonald's restaurants in India serve a full line of products except for hamburgers made from beef. 
E)  All of these. 
A)  American companies in Germany encourage the use of all types of credit cards. 
B)  In Brazil, American companies are extremely careful to keep to a strict agenda and time schedule, even though an informal structure is preferred. 
C)  Bath products are advertised by portraying intimate scenes between husbands and wives in countries where personal privacy is important. 
D)  McDonald's restaurants in India serve a full line of products except for hamburgers made from beef. 
E)  All of these.

Question 19

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

Accepted Answer

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

Question 20

According to economists,protectionism

Accepted Answer

A)  protects a nation's political security. 
B)  encourages economic reliance on foreign countries. 
C)  inhibits the development of domestic industries. 
D)  creates opportunities for the outsourcing of domestic jobs. 
E)  creates a more favorable environment for a global economy. 
A)  protects a nation's political security. 
B)  encourages economic reliance on foreign countries. 
C)  inhibits the development of domestic industries. 
D)  creates opportunities for the outsourcing of domestic jobs. 
E)  creates a more favorable environment for a global economy.

Exam 7: Understanding and Reaching Global Consumers and Markets

Agreements between two or more independent firms to cooperate for the purpose of achieving common goals are referred to as

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

reverence that Japan shows towards its elderly is an example of the nation's __________.

Parthenon Photo -Parthenon,shown in the photo above,evokes strong feelings from consumers in Greece.As a result,marketers must be mindful in accessing the meaning of this __________ when developing marketing programs to reach consumers of a specific country.

Global marketing is also affected by economic considerations.Identify the three steps that should be performed when scanning the global marketplace.

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

Figure 7-3 -box with the "?" in Figure 7-3 above leads to which of the following as a result of the imposition of tariffs and quotas based on protectionist policies of a country?

monetary value of all goods and services produced in a country during one year is referred to as the

Nestlé actually owns a subsidiary or division in a foreign country,such as when it established its own ice cream manufacturing operation in China,this global market entry strategy is known as __________ and represents the greatest commitment a company can make.

Which of the following issues raises concerns about the ethics of protectionism?

Pepsi-Cola,now available in more than 160 countries and territories,accounts for __________ percent of all soft drinks sold internationally.

percentage of world trade involves countertrade?

become leaders in the world market,countries need related and supporting industries because

permanent institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the __________.

foreign currencies can buy more U.S.dollars,

Dutch lead the world in the cut-flower industry because of their research in flower cultivation,packaging,and shipping.Using this knowledge as a resource is an example of what Michael Porter would term

Which of the following examples best demonstrates a company's appreciation of another country's values?

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

According to economists,protectionism

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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