Question 1

PepsiCo and the Strauss Group have together formed an Israeli business to market Frito-Lay's, Cheetos, Ruffles, and Doritos in Israel. This global market entry strategy is known as

Accepted Answer

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

Question 2

The world's largest manufacturer of peppermint candy canes was located in Albany, Georgia, until it could no longer afford to buy the sugar needed for its operation. It moved its manufacturing business to Mexico where there are no restrictions (like those that exist in the United States)  on the amount of sugar that can be brought into the nation. The business moved to Mexico because of ________ established by the U.S. government.

Accepted Answer

A)   a tariff
B)   a trade imbalance
C)   an excise tax
D)   a subsidy
E)   a quotaF) A) and E)
G) B) and C)

Question 3

Arguments in favor of protectionism include that it

Accepted Answer

A)   helps reduce tariffs and quotas.
B)   limits the outsourcing of jobs.
C)   encourages economic integration with international partners.
D)   reduces prices for consumers.
E)   creates a more advantageous environment for a global economy.F) B) and E)
G) C) and D)

Question 4

In international trade, dumping refers to

Accepted Answer

A)   illegally disposing of unusable or damaged goods to avoid paying removal fees and/or taxes.
B)   a firm selling damaged or unsalable goods below their original production cost.
C)   a firm selling quality goods at significantly lower prices for the primary purpose of reducing inventory to make room for seasonal goods.
D)   a firm selling quality goods at significantly lower prices for the primary purpose of reducing inventory to make room for newer or more expensive models.
E)   a firm selling a product in a foreign country below its domestic price or below its actual cost.F) A) and C)
G) A) and E)

Question 5

Currency exchange rate refers to

Accepted Answer

A)   the unit equivalency of all international currency.
B)   the ratio of a nation's basic unit of currency relative to the price of silver.
C)   the ratio of a nation's basic unit of currency relative to the price of gold.
D)   the price of one country's currency expressed in terms of another country's currency.
E)   the unit of wealth (gold, oil, diamonds, etc.)  upon which a nation bases its national currency.F) B) and E)
G) D) and E)

Question 6

Chrysler Corp. 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 3,100,000 Japanese yen, and the Japanese could not afford to buy it. Its price was set without regard for the

Accepted Answer

A)   balance of price.
B)   currency exchange rate.
C)   reciprocity price.
D)   balance of payments.
E)   balance of trade.F) C) and D)
G) A) and E)

Question 7

Explain the difference between indirect exporting and direct exporting. What are the advantages and disadvantages of each approach?

Accepted Answer

Indirect exporting refers to a firm sell...

Question 8

Name the three countries that dominate world trade. Which is the largest exporter? Which is the largest importer?

Accepted Answer

The United States, China, Japan, Western...

Question 9

The U.S. Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering ________, lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Accepted Answer

A)   boycotts
B)   quotas
C)   sanctions
D)   tariffs
E)   subsidiesF) All of the above
G) C) and D)

Question 10

Channels of distribution in global marketing are often long and complex. The availability and quality of retailers and wholesalers as well as transportation, communication, and warehousing facilities are often determined by

Accepted Answer

A)   the seller and the exporter.
B)   a country's stage of economic development.
C)   the seller's international marketing headquarters and the channels between nations.
D)   channels between nations and the channels within the foreign nation.
E)   channels within the foreign nation and the foreign retailer.F) B) and C)
G) B) and E)

Question 11

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

Accepted Answer

A)   customs.
B)   ethics.
C)   values.
D)   culture.
E)   beliefs.F) B) and C)
G) None of the above

Question 12

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

Accepted Answer

A)   market synthesis
B)   international sociographic study
C)   anthropological examination
D)   cross-cultural analysis
E)   ethnocentrism assessmentF) B) and E)
G) B) and C)

Exam 7: Understanding and Reaching Global Consumers and Markets

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

Correct Answer
verified

The U.S. Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering ________, lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Correct Answer
verified

PepsiCo and the Strauss Group have together formed an Israeli business to market Frito-Lay's, Cheetos, Ruffles, and Doritos in Israel. This global market entry strategy is known as

Correct Answer
verified

Correct Answer
verified

Currency exchange rate refers to

Correct Answer
verified

Chrysler Corp. 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 3,100,000 Japanese yen, and the Japanese could not afford to buy it. Its price was set without regard for the

Correct Answer
verified

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

Correct Answer
verified

In international trade, dumping refers to

Correct Answer
verified

Explain the difference between indirect exporting and direct exporting. What are the advantages and disadvantages of each approach?

Correct Answer
verified
Indirect exporting refers to a firm sell...
View Answer

Arguments in favor of protectionism include that it

Correct Answer
verified

Name the three countries that dominate world trade. Which is the largest exporter? Which is the largest importer?

Correct Answer
verified
The United States, China, Japan, Western...
View Answer

Channels of distribution in global marketing are often long and complex. The availability and quality of retailers and wholesalers as well as transportation, communication, and warehousing facilities are often determined by

Correct Answer
verified

Exam 7: Understanding and Reaching Global Consumers and Markets

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

Correct AnswerverifiedShow Answer

The U.S. Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering ________, lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Correct AnswerverifiedShow Answer

PepsiCo and the Strauss Group have together formed an Israeli business to market Frito-Lay's, Cheetos, Ruffles, and Doritos in Israel. This global market entry strategy is known as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Currency exchange rate refers to

Correct AnswerverifiedShow Answer

Chrysler Corp. 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 3,100,000 Japanese yen, and the Japanese could not afford to buy it. Its price was set without regard for the

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In international trade, dumping refers to

Correct AnswerverifiedShow Answer

Explain the difference between indirect exporting and direct exporting. What are the advantages and disadvantages of each approach?

Correct AnswerverifiedIndirect exporting refers to a firm sell...View AnswerShow Answer

Arguments in favor of protectionism include that it

Correct AnswerverifiedShow Answer

Name the three countries that dominate world trade. Which is the largest exporter? Which is the largest importer?

Correct AnswerverifiedThe United States, China, Japan, Western...View AnswerShow Answer

Channels of distribution in global marketing are often long and complex. The availability and quality of retailers and wholesalers as well as transportation, communication, and warehousing facilities are often determined by

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Indirect exporting refers to a firm sell...
View Answer

Correct Answer
verified

Correct Answer
verified
The United States, China, Japan, Western...
View Answer

Correct Answer
verified