Exam 7: Understanding and Reaching Global Consumers and Markets

The 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

Two carmakers have developed a strange but successful partnership.Ford,a U.S.automaker,and Mazda,an Asian carmaker,have collaborated on several models,including the Explorer,the Probe,the Mazda 323,and the Mazda MX-6.The U.S.automaker has supplied Mazda with help in marketing,finance,and styling.In return,Mazda has provided manufacturing and product development expertise to Ford.Both companies have worked together toward a common goal and both have benefited as a result of their

The Economic Espionage Act

Hindustan Lever realized it could not sell to the rural poor in India unless it found ways to distribute its products such as soap,shampoos,and laundry detergents.Lever provided start-up loans to women to buy stocks of products to sell to local villagers.Today,over 45,000 women sell Lever products to 600,000 consumers in 135,000 villages in India.This is an example of Lever's use of

A firm's profit potential and control over marketing activities __________ as it moves from exporting to direct investment as a global market-entry strategy.

Nine out of every 10 diamonds sold in the world pass through India,making diamonds that country's largest export at $6.6 billion a year.One of the reasons for its success is the nation's 2,500 trading firms,banks,airlines,customers' offices,and courier services that make sure the diamonds are safely delivered.According to Michael Porter's theory about national competitive advantage,India's success in the diamond industry is due in part to its

Balance of trade refers to

Tariffs refer to

A situation where products are bought in a lower-priced country from a manufacturer's authorized reseller,shipped to higher-priced countries,and then sold through unauthorized retailers below the manufacturer's suggested retail price is referred to as __________.

For the marketer,a thorough __________ involves an understanding of and an appreciation for the values,customs,symbols,and language of other societies.

A global marketer selling consumer products and services must also consider what the average per capita or __________ is among a country's consumers and how the income is distributed to determine a nation's purchasing power.

Global competition exists when

Tiffany & Company knows that Japanese are superstitious about the number 4.As a result,Tiffany sells its fine glassware and china in sets of five,not four,in Japan.Tiffany has used its knowledge of __________ to avoid connecting its products with the number 4.

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

The Foreign Corrupt Practices Act

S.appliance manufacturers find that different customs about shopping must be used to determine product design.For instance,people in Northern Europe shop only once a week,so they need bigger refrigerators than Southern Europeans,who shop daily.Furthermore,Northern Europeans insist that freezers should be on the top just as firmly as Southern Europeans insist that freezers should be on the bottom.Consumers in other regions use their appliances differently and have other different product demands.Given this information,you should conclude U.S.appliance manufacturers would be more likely successful if they used a(n)__________ marketing strategy.

Which of the following statements about the emergence of a networked global marketspace is most accurate?

Consider the Kit Kat bar photo above.Kit Kat bars are marketed by Nestlé worldwide.Kit Kat is pronounced "kitto katsu" in Japanese,which roughly translates to "surely win." Japanese teens eat Kit Kat bars for good luck,particularly when taking crucial school exams.This positive result might have been eliminated had the company used __________ and felt in necessary to use a name without an additional meaning.

The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis;most tariffs that affect pricing practices have been removed,and

Play devil's advocate.Select any American industry and argue persuasively why protectionism is not only patriotic,it is absolutely essential for survival.