Exam 7: Understanding and Reaching Global Consumers and Markets

The "Little Dragons," in relation to the Asian Free Trade Agreements,are comprised of:

A 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 USA." This behavior would likely be an example of

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

Chrysler Corporation wanted to sell its Jeeps in Japan.The car was priced in U.S.dollars at about $19,000,but when it reached the Japanese car showrooms,its price was over ¥31,000 Japanese yen,and the Japanese could not afford to buy it.Its price was set without regard for the

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

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

Indirect exporting occurs when a firm sells its domestically produced products in a foreign country

Once a company has decided to enter the global marketplace,it must select a means of market entry.Four general options exist: (1)exporting; (2)__________; (3)joint venture;and (4)direct investment.

According to Figure 7-5 above,point "B" would most likely represent what option for entering the global marketplace?

The European Union (EU)has been beneficial to electronic commerce because it is no longer necessary to

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

In recent years,a number of countries with similar economic goals have formed transnational trade groups or signed trade agreements for the purpose of promoting free trade.Describe the four discussed in the textbook.

An 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 __________.

Austria has been described as "the very heartland of European coffee culture." These "coffee-knowledgeable" Austrians drink 21.5 liters of coffee per person annually.Starbucks wanted to open coffee houses in Austria and sell Starbucks coffee there.For Starbucks,the Austrian level of coffee-drinking sophistication would be an example of

CAFTA-DR,a comprehensive free trade agreement between Costa Rica,the Dominican Republic,El Salvador,Guatemala,Honduras,Nicaragua,and __________.

Coca-Cola has operations in all but three nations in the world and Pepsi-Cola is now available in more than 160 countries and territories,making the soft drink industry an example of

List and briefly describe the four main elements of Porter's diamond of national competitive advantage.

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

What is the trade feedback effect?

Almost all countries have some division of social class (upper,middle,and lower).The determining factor for the assignment to one of these classes may differ from country to country.For example,in the United States,the primary determining factor is occupation;in India,it is birthright;in China,it is geographical region and education;and in Singapore,it is income.These differences are BEST EXPLAINED in terms of a country's