Question 1

Countertrade refers to

Accepted Answer

A)  the illegal agreement of one country to buy products exclusively from another.
B)  the legal agreement of one country to buy and sell certain products exclusively from one another.
C)  the practice of using barter rather than money for making global sales.
D)  the sale of industrial goods from a brick and mortar outlet rather than directly from the manufacturer.
E)  the use of foreign currency in making global purchases to minimize risk from currency fluctuation.F) A) and E)
G) D) and E)

Question 2

The ________ imposed on imported bananas by European Union countries cost consumers $2 billion a year in higher prices.

Accepted Answer

A)  boycotts
B)  quotas
C)  sanctions
D)  subsidies
E)  tariffsF) B) and C)
G) B) and E)

Question 3

All nations and regions of the world do not participate equally in world trade.World trade flows reflect

Accepted Answer

A)  the influences of culture and language.
B)  the differences among industries,countries,and regions.
C)  interdependencies among industries,countries,and regions.
D)  the challenges of currency and exchange imbalances.
E)  the increasing importance of services verses products.F) All of the above
G) C) and D)

Question 4

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) C) and E)
G) D) and E)

Question 5

Figure 7-5
 
-Global companies have five strategies for matching products and their promotion efforts to global markets.Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of global marketing product and promotion strategy?

Accepted Answer

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

Question 6

Whirlpool asked the United States to impose ________ on washing machine imports made by LG Electronics and Samsung Electronics,both South Korean companies,to raise the price of these products.Whirlpool accused these companies of selling below fair market value and receiving anticompetitive export subsidies from their governments,both of which could jeopardize American jobs.

Accepted Answer

A)  boycotts
B)  quotas
C)  sanctions
D)  tariffs
E)  embargoesF) B) and E)
G) A) and D)

Question 7

Generally speaking,a(n) ________ firm markets its existing products and services in other countries the same way it does in its home country.

Accepted Answer

A)  meganational
B)  international
C)  multinational
D)  transnational
E)  intranationalF) D) and E)
G) A) and B)

Question 8

One disadvantage of direct investment when entering a new global market is

Accepted Answer

A)  intermediaries have the potential to harm the brand.
B)  the firm entering the foreign market must pay royalties to the government.
C)  the company forgoes control over its product.
D)  the financial commitments involved.
E)  this method is likely to provide the fewest cost savings relative to the other global market entry options.F) A) and B)
G) A) and C)

Question 9

To eliminate the need to continually monitor currency exchange rates,________ of the countries in the European Union (EU) have adopted a common currency called the euro.

Accepted Answer

A)  11
B)  16
C)  20
D)  28
E)  32F) All of the above
G) A) and C)

Question 10

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) C) and D)
G) B) and D)

Question 11

Global consumers are

Accepted Answer

A)  all potential consumers for any and all products or services regardless of cultural,ethnic,or national origins.
B)  customers within a nation who consider the entire world a single marketplace.
C)  consumer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products or services.
D)  consumer groups living in many countries or regions of the world that seek customized features and benefits from products or services that reflect their individual cultures.
E)  multinational organizations whose products incorporate raw materials,assembly,and distribution contributions from multiple nations before they are marketed.F) C) and D)
G) All of the above

Question 12

Why is it wise for global marketers to use back translation? Provide an example to support your answer.

Accepted Answer

Back translation refers to a translated ...

Question 13

Offering the right to a trademark,patent,trade secret,or other similarly valued items of intellectual property in return for a royalty or a fee is referred to as

Accepted Answer

A)  direct exporting.
B)  indirect exporting.
C)  licensing.
D)  contract manufacturing.
E)  external branding.F) A) and B)
G) B) and E)

Question 14

The practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas is referred to as

Accepted Answer

A)  domestic imperialism.
B)  protectionism.
C)  blocked competition.
D)  import taxation.
E)  trade restriction.F) A) and B)
G) D) and E)

Question 15

U.S.-based Fran Wilson Creative Cosmetics attributes its success in Japan to a top-quality product,effective advertising,and a novel ________ strategy,in which it uses Japanese distributors to reach beauty salons rather than department stores.

Accepted Answer

A)  joint venture
B)  licensing
C)  franchising
D)  indirect export
E)  direct investmentF) A) and B)
G) A) and C)

Question 16

A small Canadian winery located in British Columbia has developed a new table wine.It has no overseas contacts but wants to get its wine on the shelves in selected Asian and European markets where growth has been substantial in the past two years.Which type of exporting option would best suit this company?

Accepted Answer

A)  direct exporting
B)  licensing
C)  indirect exporting
D)  joint venture
E)  cooperative partnershipF) A) and C)
G) C) and E)

Question 17

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) B) and C)
G) A) and E)

Question 18

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) C) and D)

Question 19

The administrative,marketing,and manufacturing operations that many international firms,multinational firms,and transnational firms have around the world are often called

Accepted Answer

A)  divisions.
B)  outlets.
C)  departments.
D)  markets.
E)  holding companies.F) A) and B)
G) None of the above

Question 20

A global market entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or division is referred to as

Accepted Answer

A)  licensing.
B)  local assembly.
C)  a joint venture.
D)  direct investment.
E)  local manufacturing.F) A) and B)
G) C) and D)

Exam 7: Understanding and Reaching Global Consumers and Markets

U.S.-based Fran Wilson Creative Cosmetics attributes its success in Japan to a top-quality product,effective advertising,and a novel ________ strategy,in which it uses Japanese distributors to reach beauty salons rather than department stores.

Correct Answer
verified

Global consumers are

Correct Answer
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Countertrade refers to

Correct Answer
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The ________ imposed on imported bananas by European Union countries cost consumers $2 billion a year in higher prices.

Correct Answer
verified

To eliminate the need to continually monitor currency exchange rates,________ of the countries in the European Union (EU) have adopted a common currency called the euro.

Correct Answer
verified

A global market entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or division is referred to as

Correct Answer
verified

Generally speaking,a(n) ________ firm markets its existing products and services in other countries the same way it does in its home country.

Correct Answer
verified

Correct Answer
verified

The practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas is referred to as

Correct Answer
verified

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 Answer
verified

Figure 7-5 -Global companies have five strategies for matching products and their promotion efforts to global markets.Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of global marketing product and promotion strategy?

Correct Answer
verified

Offering the right to a trademark,patent,trade secret,or other similarly valued items of intellectual property in return for a royalty or a fee is referred to as

Correct Answer
verified

Correct Answer
verified

The administrative,marketing,and manufacturing operations that many international firms,multinational firms,and transnational firms have around the world are often called

Correct Answer
verified

All nations and regions of the world do not participate equally in world trade.World trade flows reflect

Correct Answer
verified

Why is it wise for global marketers to use back translation? Provide an example to support your answer.

Correct Answer
verified
Back translation refers to a translated ...
View Answer

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

Correct Answer
verified

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

Correct Answer
verified

In international trade,dumping refers to

Correct Answer
verified

One disadvantage of direct investment when entering a new global market is

Correct Answer
verified

Exam 7: Understanding and Reaching Global Consumers and Markets

U.S.-based Fran Wilson Creative Cosmetics attributes its success in Japan to a top-quality product,effective advertising,and a novel ________ strategy,in which it uses Japanese distributors to reach beauty salons rather than department stores.

Correct AnswerverifiedShow Answer

Global consumers are

Correct AnswerverifiedShow Answer

Countertrade refers to

Correct AnswerverifiedShow Answer

The ________ imposed on imported bananas by European Union countries cost consumers $2 billion a year in higher prices.

Correct AnswerverifiedShow Answer

To eliminate the need to continually monitor currency exchange rates,________ of the countries in the European Union (EU) have adopted a common currency called the euro.

Correct AnswerverifiedShow Answer

A global market entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or division is referred to as

Correct AnswerverifiedShow Answer

Generally speaking,a(n) ________ firm markets its existing products and services in other countries the same way it does in its home country.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas is referred to as

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

Figure 7-5 -Global companies have five strategies for matching products and their promotion efforts to global markets.Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of global marketing product and promotion strategy?

Correct AnswerverifiedShow Answer

Offering the right to a trademark,patent,trade secret,or other similarly valued items of intellectual property in return for a royalty or a fee is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The administrative,marketing,and manufacturing operations that many international firms,multinational firms,and transnational firms have around the world are often called

Correct AnswerverifiedShow Answer

All nations and regions of the world do not participate equally in world trade.World trade flows reflect

Correct AnswerverifiedShow Answer

Why is it wise for global marketers to use back translation? Provide an example to support your answer.

Correct AnswerverifiedBack translation refers to a translated ...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

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

Correct AnswerverifiedShow Answer

In international trade,dumping refers to

Correct AnswerverifiedShow Answer

One disadvantage of direct investment when entering a new global market is

Correct AnswerverifiedShow Answer

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Back translation refers to a translated ...
View Answer

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