Question 1

Providing low-cost,simplified versions of familiar products can be impossible to market in some regions,especially in Africa.Which of the following is a probable reason for nonexistent markets?

Accepted Answer

A) poor channels of distribution 
B) inadequate physical infrastructure 
C) high tariffs 
D) severely impoverished population that don't even use money 
E) all of the above

Question 2

Tails for Tails would be appropriate had Yellow Tail produced a line of organic,sulfite-free vegan-friendly wines and specifically advertised its support of HSUS in friendlier venues such as vegetarian and vegan magazines and the like.

Accepted Answer

A) True 
 B)False

Question 3

International trade does not always involve cash.Sometimes companies accept all or part of the payment for goods or services in the form of other goods or services.This is known as:

Accepted Answer

A) export trading 
B) crossdocking 
C) exchange modification 
D) domestic barter 
E) countertrade

Question 4

A(n)_____ is a company that is heavily engaged in global trade and moves its resources,goods,services,and skills across national boundaries.

Accepted Answer

A) international facilitator 
B) global trader 
C) multinational corporation 
D) exporting company 
E) international merchant

Question 5

Sony,Panasonic,and other Japanese manufacturers that build products to customer order instead of churning out products in anticipation of demand have decided to hire U.S.companies to produce electronics for them.The Japanese companies will handle the marketing of the products.Japanese electronics companies are using:

Accepted Answer

A) contract manufacturing. 
B) direct investment. 
C) franchising. 
D) direct exporting. 
E) countertrading.

Question 6

Franchising is a form of:

Accepted Answer

A) contract marketing 
B) international exporting 
C) licensing 
D) direct exporting 
E) countertrading

Question 7

By removing certain chemicals from Tide because it irritated the skin when used by rural villagers who wash clothes by hand,Procter & Gamble did not go along with the trend toward __________.

Accepted Answer

A) one-size-fits-all design 
B) unsafe products for the poor 
C) human testing 
D) cheaper versions of brand-name products 
E) standardized consumer products

Question 8

A(n)_____ is a global intermediary who brings the buyer and seller together.

Accepted Answer

A) buyer for export 
B) export agent 
C) license agent 
D) import agent 
E) export broker

Question 9

The first step in creating the global marketing mix is to:

Accepted Answer

A) create a new product. 
B) select the method of promotion. 
C) develop a thorough understanding of the global target market. 
D) set pricing policies. 
E) decide whether product modification is necessary.

Question 10

Although not intended for a wider target audience,the lap dance controversy did accomplish the major tasks of promotion in the highly competitive Boston metro market.Which of the following would be an exception?

Accepted Answer

A) The lap dance informed sporting event-goers that the Blazers were not a fringe league but part of a national sport league. 
B) The lap dance turned out to be a positive form of public relations that could be repeated in the future despite the front office apology. 
C) For those who may have seen one game,they were no reminded that they had "missed something" by not being repeat customers. 
D) The male demographic was persuaded to buy tickets (i.e. ,sex sells). 
E) Any perception that lacrosse was not a hot game had been changed in the public mind.

Question 11

When European demand for a certain solvent declined,Dow Chemical instructed its German plant to switch to manufacturing a chemical that had been imported from Louisiana and Texas.Dow Chemical would be best described as a(n):

Accepted Answer

A) global enterprise 
B) global trader 
C) cultural marketer 
D) exporting company 
E) multinational corporation

Question 12

An important factor in the global external environment that has become more evident in the past decade is the shortage of natural resources.Choose two different natural resources and describe how shortages of each of these resources affect global trade.

Accepted Answer

The answer of An important factor in the global external...

Question 13

Which of the following statements about the European Union (EU)is true?

Accepted Answer

A) The EU creates a single Europroduct for a generic Euroconsumer. 
B) The EU removes all internal trade barriers and standardizes regulations in European countries for easier trade. 
C) The EU can correctly be called the "United States of Europe" because all European voters have agreed to these changes. 
D) The existence of the EU eliminates protectionist movements by United Europe against the Japanese and the United States. 
E) The EU is the largest economy in the world.

Question 14

Negotiations (such as GATT or the Uruguay Round)between countries that are made to stimulate global exchange and remove barriers are called _____ agreements.

Accepted Answer

A) trade 
B) joint venture 
C) CRM 
D) exchange 
E) licensing

Question 15

_____ is a global marketing strategy that requires active ownership (either a controlling interest or large minority interest)of a foreign company or overseas manufacturing or marketing facilities.

Accepted Answer

A) Market grouping 
B) Import brokering 
C) Export subsidizing 
D) Licensing 
E) Direct foreign investment

Question 16

A U.S.licensor can try to prevent a licensee from voiding its contract and using what it has learned to create a competitor by:

Accepted Answer

A) using lawyers from both countries to write the licensing agreement. 
B) insisting that all licensees have a published code of ethics. 
C) having the licensee pay a fee for the use of the manufacturing process,trademark,patent,or other proprietary knowledge. 
D) locally registering patents and trademarks to the U.S.firm,not to the licensee. 
E) avoiding the use of any patents and trademarks.

Question 17

In general,average family incomes are higher in more developed countries than in the less developed countries.

Accepted Answer

A) True 
 B)False

Question 18

All of the following statements about global marketing are true EXCEPT:

Accepted Answer

A) Marketing to target markets throughout the world has become imperative for business. 
B) Often a U.S.firm's toughest domestic competition comes from foreign companies. 
C) Marketing managers must develop a global vision not only to recognize and react to international marketing opportunities but also to remain competitive at home. 
D) Adopting a global vision can be lucrative for a company,and global marketing can offset weak domestic performance. 
E) Foreign competitors have not gained significant market share in the United States.

Question 19

DeLouis owns an agency that specializes in bringing international buyers in contact with U.S.companies to facilitate global trade.What type of intermediary is DeLouis?

Accepted Answer

A) Buyer for export 
B) Export broker 
C) License agent 
D) Import agent 
E) Export agent

Question 20

Suppose a Chinese firm makes computer chips at $4.00 per chip but sells the chips for $2.00 in American markets.American producers of computer chips cannot supply chips at the low rates that the Chinese firm is supplying them.The Chinese firm is engaging in dumping.

Accepted Answer

A) True 
 B)False

Exam 5: Developing a Global Vision

Providing low-cost,simplified versions of familiar products can be impossible to market in some regions,especially in Africa.Which of the following is a probable reason for nonexistent markets?

Tails for Tails would be appropriate had Yellow Tail produced a line of organic,sulfite-free vegan-friendly wines and specifically advertised its support of HSUS in friendlier venues such as vegetarian and vegan magazines and the like.

International trade does not always involve cash.Sometimes companies accept all or part of the payment for goods or services in the form of other goods or services.This is known as:

A(n) _____ is a company that is heavily engaged in global trade and moves its resources,goods,services,and skills across national boundaries.

Franchising is a form of:

By removing certain chemicals from Tide because it irritated the skin when used by rural villagers who wash clothes by hand,Procter & Gamble did not go along with the trend toward __________.

A(n) _____ is a global intermediary who brings the buyer and seller together.

The first step in creating the global marketing mix is to:

Although not intended for a wider target audience,the lap dance controversy did accomplish the major tasks of promotion in the highly competitive Boston metro market.Which of the following would be an exception?

When European demand for a certain solvent declined,Dow Chemical instructed its German plant to switch to manufacturing a chemical that had been imported from Louisiana and Texas.Dow Chemical would be best described as a(n) :

An important factor in the global external environment that has become more evident in the past decade is the shortage of natural resources.Choose two different natural resources and describe how shortages of each of these resources affect global trade.

Which of the following statements about the European Union (EU) is true?

Negotiations (such as GATT or the Uruguay Round) between countries that are made to stimulate global exchange and remove barriers are called _____ agreements.

_____ is a global marketing strategy that requires active ownership (either a controlling interest or large minority interest) of a foreign company or overseas manufacturing or marketing facilities.

A U.S.licensor can try to prevent a licensee from voiding its contract and using what it has learned to create a competitor by:

In general,average family incomes are higher in more developed countries than in the less developed countries.

All of the following statements about global marketing are true EXCEPT:

DeLouis owns an agency that specializes in bringing international buyers in contact with U.S.companies to facilitate global trade.What type of intermediary is DeLouis?

Suppose a Chinese firm makes computer chips at $4.00 per chip but sells the chips for $2.00 in American markets.American producers of computer chips cannot supply chips at the low rates that the Chinese firm is supplying them.The Chinese firm is engaging in dumping.