Exam 7: Understanding and Reaching Global Consumers and Markets

KFC in Japan sells tempura crispy strips.In northern England,it stresses gravy and potatoes.In Thailand,it offers fresh rice.In Holland,instead of potatoes,KFC offers customers a potato and onion croquette.In France,KFC sells pastries alongside its chicken.These examples illustrate that KFC exhibits an understanding of and appreciation for the __________ of other societies.

Personally or socially preferable modes of conduct or states of existence that tend to persist over time are referred to as __________.

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

PepsiCo and __________ entered into a joint venture to market Frito-Lay's,Cheetos,Ruffles,and Doritos in Israel.

Describe the elements in a global channel of distribution.

S.citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because

Dell established its company primarily with direct telephone-and Internet-based sales.In terms of Dell's global expansion strategy,which of the following statements is most accurate?

Consider the Kit Kat Bar photo above.Nestlé markets its Kit Kat bar globally,including Japan.In Japan,"Kit Kat" means "I hope you win." Experienced global marketers are concerned with _________,which involves using interpreters to ensure that words used in brand names or advertisements in a foreign market do not cause problems or errors in meaning.

Japanese car safety rules effectively require all automobile replacement parts to be Japanese and the country has about 11,000 other rules that specify how other goods are to be made and marketed.These rules often function as __________.

Those in favor of protectionism argue that it

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

The Tahitian pearl market might never have existed were it not for Salvador Assael,the "pearl king" of the South Seas.Assael got into the pearl business at the end of World War II.Tahiti had thousands of Swiss watches but suddenly had no GIs to buy them.Assael observed that the Japanese were desperate for watches but had no cash,and also,that the Japanese still had a pearl industry.So,Assael oversaw the swapping of watches for pearls,which were then sold to the Australian and U.S.markets.This international barter is an example of

The representations of ideas and concepts to which different cultures often attach different meanings are referred to as

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

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,be sure to define cross-cultural analysis.

If you wanted to set up a business importing amber jewelry 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)__________.

When a nation's exports exceed its imports,it incurs a __________ in its balance of trade.

"A 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.

Bottom of the pyramid refers to

Russia currently has a limit on pork of 400,000 metric tons annually that can be imported from any country.This restriction would be considered a