Question 1

The Parthenon evokes strong feelings from consumers in Greece and is referred to as the "holy rock." Coca-Cola marketers did not expect that this ________, when used in a marketing campaign that replaced the columns with Coke bottles, would arouse such an angry response in that country.

Accepted Answer

A)   cultural symbol
B)   anthropomorphic code
C)   back translation
D)   semantic representation
E)   civil analysisF) None of the above
G) C) and E)

Question 2

Explain the concept of countertrade, and discuss its importance.

Accepted Answer

Not all trade involves the exchange of m...

Question 3

Figure 7-5
-Global companies have five strategies for matching products and their promotion efforts to global markets. According to Figure 7-5 above, Box C refers to which type of strategy?

Accepted Answer

A)   product extension strategy
B)   product adaptation strategy
C)   dual adaptation strategy
D)   product invention strategy
E)   communication adaptation strategyF) A) and B)
G) A) and D)

Question 4

Two-thirds of the commercial transactions in Russia involve nonmonetary forms of payment due to limits in formal operating procedures among financial institutions and even limits on the notion of private property there. These would best be described as constraints in the country's

Accepted Answer

A)   capital infrastructure.
B)   political infrastructure.
C)   economic infrastructure.
D)   geopolitical system.
E)   financial exchange system.F) A) and E)
G) B) and C)

Question 5

Define licensing, cite its advantages and disadvantages, and explain what franchising is.

Accepted Answer

Licensing offers the right to a company ...

Question 6

The balance of trade is the

Accepted Answer

A)   difference between the monetary value of a nation's exports and imports.
B)   sum of the monetary value of a nation's exports and imports.
C)   monetary value of a nation's exports divided by its imports.
D)   surplus that occurs when nations engage in exporting.
E)   state of equilibrium when two neighboring nations participate in countertrade.F) A) and B)
G) None of the above

Question 7

Direct exporting refers to

Accepted Answer

A)   offering the right to a trademark, patent, trade secret, or similarly valued items of intellectual property in return for a royalty or fee.
B)   contracting with a foreign firm to manufacture products according to certain specifications.
C)   a foreign country and a local firm investing together to create a local business.
D)   using additional parties when a firm sells its domestically produced goods in another country.
E)   a firm selling its domestically produced goods in a foreign country without intermediaries.F) C) and E)
G) A) and D)

Question 8

A firm that views the world as consisting of unique parts and markets to each part differently is referred to as

Accepted Answer

A)   a supernational firm.
B)   an extranational firm.
C)   an international firm.
D)   a multinational firm.
E)   a transnational firm.F) A) and E)
G) C) and D)

Question 9

In terms of the global marketplace, there are three primary types of companies: international firms, multinational firms, and transnational firms. The key factor that distinguishes one from another is

Accepted Answer

A)   the firm's financial capacity to take risks.
B)   the willingness and ability to embrace diversity and cultural differences.
C)   the firm's orientation toward and strategy for global markets and marketing.
D)   the relative position of the product or service in terms of its life cycle.
E)   the relative size of the firm both in financial terms and in production capacity.F) C) and D)
G) A) and D)

Question 10

European car companies Volkswagen and BMW own and operate car-manufacturing facilities in South Carolina and Alabama respectively that use American labor. This illustrates their use of

Accepted Answer

A)   direct exporting.
B)   direct investment.
C)   joint venture.
D)   licensing.
E)   indirect exporting.F) B) and E)
G) B) and D)

Question 11

KFC in Japan altered the sweetness of its coleslaw to appeal to Japanese tastes. This is an example of which type of global marketing product and promotion strategy?

Accepted Answer

A)   product extension
B)   product adaptation
C)   product customization
D)   product invention
E)   product integrationF) B) and E)
G) B) and D)

Question 12

Fluctuations in the ________ among the world's currencies have a direct impact on the sales and profits made by global companies.

Accepted Answer

A)   production costs
B)   transportation
C)   reciprocity
D)   economic infrastructure
E)   exchange ratesF) B) and D)
G) A) and E)

Question 13

By skillfully using ________, global marketers can tie positive meanings to their products, services, and brands to enhance their attractiveness to consumers.

Accepted Answer

A)   cultural symbols
B)   visual icons
C)   trademarks
D)   brand names
E)   ethnic emblemsF) All of the above
G) B) and D)

Question 14

In recent decades, 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 two discussed in the text.

Accepted Answer

(1) In 2018 the European Union (EU) cons...

Question 15

Which of the following statements about the relationship between the imports into the United States and the exports from the United States during the last 40 years is most accurate?

Accepted Answer

A)   Exports from the United States have declined, while import levels have remained about constant.
B)   The volume of both imports and exports has consistently decreased.
C)   Imports into the United States and exports have been about equal, indicating balanced trade.
D)   Exports have exceeded imports, indicating a continuing balance of trade surplus.
E)   Imports have exceeded exports, indicating a continuing balance of trade deficit.F) A) and E)
G) A) and D)

Question 16

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

Accepted Answer

A)   Marketspace creates an unfair competitive environment for emerging nations.
B)   More business-to-consumer marketing is done on the Internet than business-to-business marketing.
C)   The most active participants in the networked global marketspace are companies in developing nations.
D)   All business in the networked global marketspace is conducted in English.
E)   A networked global marketspace enables the exchange of products, services, and information from sellers anywhere to buyers anywhere at any time and at a lower cost.F) C) and D)
G) A) and B)

Question 17

Before Apple's iPhone X was officially for sale in China, it was being sold there. These phones were purchased in other countries like the United States and then resold by unauthorized vendors in China for up to 30% over the retail price. These products are considered to be part of

Accepted Answer

A)   under-the-counter sales.
B)   over-the-counter sales.
C)   the gray market.
D)   integrated global channels.
E)   breaking the distribution monopoly.F) A) and C)
G) B) and D)

Question 18

Figure 7-5
-Global companies have five strategies for matching products and their promotion efforts to global markets. According to Figure 7-5 above, Box B refers to which type of strategy?

Accepted Answer

A)   product extension strategy
B)   communication adaptation strategy
C)   product adaptation strategy
D)   dual adaptation strategy
E)   product invention strategyF) A) and D)
G) All of the above

Question 19

Trade among nations or regions depends on political stability. In recent times, billions of dollars have been lost in ________ and ________ as a result of internal political strife, terrorism, and war.

Accepted Answer

A)   Russia; Poland
B)   France; Spain
C)   China; Japan
D)   the Middle East; Africa
E)   Germany; the United KingdomF) B) and C)
G) C) and E)

Question 20

A Tokyo shopkeeper would have been wise to use ________ to verify the accuracy of the new sign in English he purchased for his dry cleaning business. The sign read, "Drop your pants here for best results," which he did not know had another suggestive meaning to native speakers.

Accepted Answer

A)   cultural symbolism
B)   dialect transformation
C)   semantic analysis
D)   linguistic exchange
E)   back translationF) C) and D)
G) A) and B)

Exam 7: Understanding and Reaching Global Consumers and Markets

Define licensing, cite its advantages and disadvantages, and explain what franchising is.

Correct AnswerverifiedLicensing offers the right to a company ...View AnswerShow Answer

Fluctuations in the ________ among the world's currencies have a direct impact on the sales and profits made by global companies.

Correct AnswerverifiedShow Answer

Figure 7-5 -Global companies have five strategies for matching products and their promotion efforts to global markets. According to Figure 7-5 above, Box C refers to which type of strategy?

Correct AnswerverifiedShow Answer

The balance of trade is the

Correct AnswerverifiedShow Answer

A Tokyo shopkeeper would have been wise to use ________ to verify the accuracy of the new sign in English he purchased for his dry cleaning business. The sign read, "Drop your pants here for best results," which he did not know had another suggestive meaning to native speakers.

Correct AnswerverifiedShow Answer

European car companies Volkswagen and BMW own and operate car-manufacturing facilities in South Carolina and Alabama respectively that use American labor. This illustrates their use of

Correct AnswerverifiedShow Answer

In terms of the global marketplace, there are three primary types of companies: international firms, multinational firms, and transnational firms. The key factor that distinguishes one from another is

Correct AnswerverifiedShow Answer

Trade among nations or regions depends on political stability. In recent times, billions of dollars have been lost in ________ and ________ as a result of internal political strife, terrorism, and war.

Correct AnswerverifiedShow Answer

The Parthenon evokes strong feelings from consumers in Greece and is referred to as the "holy rock." Coca-Cola marketers did not expect that this ________, when used in a marketing campaign that replaced the columns with Coke bottles, would arouse such an angry response in that country.

Correct AnswerverifiedShow Answer

Which of the following statements about the relationship between the imports into the United States and the exports from the United States during the last 40 years is most accurate?

Correct AnswerverifiedShow Answer

A firm that views the world as consisting of unique parts and markets to each part differently is referred to as

Correct AnswerverifiedShow Answer

Direct exporting refers to

Correct AnswerverifiedShow Answer

In recent decades, 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 two discussed in the text.

Correct Answerverified(1) In 2018 the European Union (EU) cons...View AnswerShow Answer

Two-thirds of the commercial transactions in Russia involve nonmonetary forms of payment due to limits in formal operating procedures among financial institutions and even limits on the notion of private property there. These would best be described as constraints in the country's

Correct AnswerverifiedShow Answer

Explain the concept of countertrade, and discuss its importance.

Correct AnswerverifiedNot all trade involves the exchange of m...View AnswerShow Answer

KFC in Japan altered the sweetness of its coleslaw to appeal to Japanese tastes. This is an example of which type of global marketing product and promotion strategy?

Correct AnswerverifiedShow Answer

By skillfully using ________, global marketers can tie positive meanings to their products, services, and brands to enhance their attractiveness to consumers.

Correct AnswerverifiedShow Answer

Before Apple's iPhone X was officially for sale in China, it was being sold there. These phones were purchased in other countries like the United States and then resold by unauthorized vendors in China for up to 30% over the retail price. These products are considered to be part of

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 7-5 -Global companies have five strategies for matching products and their promotion efforts to global markets. According to Figure 7-5 above, Box B refers to which type of strategy?

Correct AnswerverifiedShow Answer

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Licensing offers the right to a company ...
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Trade among nations or regions depends on political stability. In recent times, billions of dollars have been lost in and as a result of internal political strife, terrorism, and war.

Correct Answer
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(1) In 2018 the European Union (EU) cons...
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Not all trade involves the exchange of m...
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