Question 1

The European Union (EU) in early 2017 consisted of 28 countries with more than 500 million consumers.The EU has eliminated most barriers to the free flow of products,capital,and labor across its borders.Which of the following countries is not a member of the EU?

Accepted Answer

A)   Latvia
B)   Greece
C)   Ireland
D)   Switzerland
E)   EnglandF) A) and C)
G) None of the above

Question 2

Frito-Lay produces and markets potato chips in Russia that have seafood flavor.This is an example of which type of global marketing product and promotion strategy?

Accepted Answer

A)   product adaptation
B)   product integration
C)   product invention
D)   product customization
E)   product extensionF) A) and E)
G) A) and B)

Question 3

Yum! Brands,the restaurant division of PepsiCo,has 12,600 KFC restaurants abroad,with more than 3,700 restaurants in China.Many of the latter are locally owned and subject to a contractual agreement that allows the owners to operate the business under the established KFC brand name and according to specific rules.Yum! Brands is engaged in

Accepted Answer

A)   contract assembly.
B)   a joint venture.
C)   contract manufacturing.
D)   a partnership.
E)   franchising.F) A) and C)
G) C) and D)

Question 4

Most companies become involved in direct exporting when

Accepted Answer

A)   foreign governments believe that they will benefit the most from allowing the entry of direct exports.
B)   emerging markets in foreign countries become economically viable.
C)   they believe their volume of sales will be sufficiently large and easy to obtain so that they do not require intermediaries.
D)   the domestic market becomes saturated with competing products and services.
E)   evolving technologies in foreign countries come online.F) B) and D)
G) D) and E)

Question 5

Harley-Davidson motorcycles,Gillette razors,and Nike apparel and shoes are being sold in the same form in many countries.This is an example of which type of global marketing product and promotion strategy?

Accepted Answer

A)   product customization
B)   product adaptation
C)   product extension
D)   product integration
E)   product inventionF) B) and E)
G) D) and E)

Question 6

Which of the following issues raises concerns about the ethics of protectionism?

Accepted Answer

A)   Competitive advantage grows out of continuous improvement.
B)   Small firms succeed in foreign niche markets.
C)   Tariffs have declined from an average of 40 percent to less than 5 percent.
D)   Regional trade agreements may provide preferential treatment for member nations.
E)   Pan-European marketing strategies are possible due to greater uniformity in packaging standards.F) A) and D)
G) A) and B)

Question 7

The reverence that Japan shows toward its elderly is an example of that nation's

Accepted Answer

A)   values.
B)   beliefs.
C)   customs.
D)   religion.
E)   cultural diversity.F) C) and D)
G) A) and B)

Question 8

Semiotics refers to

Accepted Answer

A)   a field of study in marketing linguistics that identifies the connotative meanings behind words in order to create the most effective product or brand names.
B)   a field of study in marketing linguistics that identifies the connotative meanings behind words in order to create the most effective advertising messages.
C)   a field of study that examines the correspondence between symbols and their role in the assignment of meaning for people.
D)   a field of linguistics that translates words into internationally recognized symbols to help companies carry their product message across international boundaries.
E)   the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors.F) B) and C)
G) C) and D)

Question 9

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

Question 10

Global marketing is affected by economic considerations.Identify the three steps that should be performed when scanning the global marketplace.

Accepted Answer

A scan of the global marketplace should ...

Question 11

Describe the World Trade Organization (WTO)and its purpose.

Accepted Answer

The World Trade Organization (WTO)was fo...

Question 12

When a firm sells a product in a foreign country below its domestic price or below its actual cost,the practice is referred to as

Accepted Answer

A)   loss-leader pricing.
B)   surplus marketing.
C)   dumping.
D)   second-market pricing.
E)   entrepreneurial pricing.F) A) and E)
G) A) and D)

Question 13

A global marketer selling consumer products should consider what the __________ is among a country's consumers and how income is distributed to determine a nation's purchasing power to understand the nation's purchasing power.

Accepted Answer

A)   buying capacity
B)   currency exchange risk
C)   tariff
D)   per capita income
E)   cost of livingF) C) and D)
G) A) and D)

Question 14

Almost all countries have some division of social class (upper,middle,and lower) .The determining factor for the assignment to one of these classes may differ from country to country.For example,in the United States,the primary determining factor is occupation; in India,it is birthright; in China,it is geographical region and education; and in Singapore,it is income.These differences are best explained in terms of a country's

Accepted Answer

A)   semiotics.
B)   legal system.
C)   ethnocentricity.
D)   religion.
E)   values.F) A) and D)
G) B) and D)

Question 15

A global brand refers to

Accepted Answer

A)   two or more domestic products that coincidentally share the same brand name but represent two completely unrelated products.
B)   two or more international products that coincidentally share the same brand name but represent two completely unrelated products.
C)   a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs.
D)   a brand that is essentially the same but that has had minor adaptations made to meet the more specific needs of different nations.
E)   a brand marketed under different names in multiple countries with similar and centrally coordinated marketing programs.F) A) and B)
G) C) and D)

Question 16

When Nestlé actually owns a subsidiary or division in a foreign country,such as its own ice cream manufacturing operation in China,this global market entry strategy is known as __________ and represents the greatest commitment a company can make to international sales.

Accepted Answer

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

Question 17

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) C) and E)

Question 18

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

Accepted Answer

Licensing offers the right to a company ...

Question 19

Once a company has decided to enter the global marketplace,it must select a means of market entry.One of the four general options is

Accepted Answer

A)   exporting.
B)   accreditation.
C)   countertrading.
D)   cooperative.
E)   franchising.F) A) and B)
G) A) and C)

Question 20

The four largest importers of U.S.products and services are

Accepted Answer

A)   Japan, Germany, China, and Canada.
B)   Canada, Mexico, China, and Japan.
C)   China, Brazil, Japan, and Germany.
D)   Mexico, Canada, Brazil, and China.
E)   England, Canada, Australia, and New Zealand.F) All of the above
G) A) and B)

Exam 6: Understanding and Reaching Global Consumers and Markets

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

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

Correct Answer
verified
Licensing offers the right to a company ...
View Answer

The European Union (EU) in early 2017 consisted of 28 countries with more than 500 million consumers.The EU has eliminated most barriers to the free flow of products,capital,and labor across its borders.Which of the following countries is not a member of the EU?

Correct Answer
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A global marketer selling consumer products should consider what the __________ is among a country's consumers and how income is distributed to determine a nation's purchasing power to understand the nation's purchasing power.

Correct Answer
verified

Correct Answer
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Frito-Lay produces and markets potato chips in Russia that have seafood flavor.This is an example of which type of global marketing product and promotion strategy?

Correct Answer
verified

Which of the following issues raises concerns about the ethics of protectionism?

Correct Answer
verified

Describe the World Trade Organization (WTO)and its purpose.

Correct Answer
verified
The World Trade Organization (WTO)was fo...
View Answer

Semiotics refers to

Correct Answer
verified

The reverence that Japan shows toward its elderly is an example of that nation's

Correct Answer
verified

When Nestlé actually owns a subsidiary or division in a foreign country,such as its own ice cream manufacturing operation in China,this global market entry strategy is known as __________ and represents the greatest commitment a company can make to international sales.

Correct Answer
verified

When a firm sells a product in a foreign country below its domestic price or below its actual cost,the practice is referred to as

Correct Answer
verified

Correct Answer
verified

A global brand refers to

Correct Answer
verified

Harley-Davidson motorcycles,Gillette razors,and Nike apparel and shoes are being sold in the same form in many countries.This is an example of which type of global marketing product and promotion strategy?

Correct Answer
verified

Global marketing is affected by economic considerations.Identify the three steps that should be performed when scanning the global marketplace.

Correct Answer
verified
A scan of the global marketplace should ...
View Answer

Most companies become involved in direct exporting when

Correct Answer
verified

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

Correct Answer
verified

Once a company has decided to enter the global marketplace,it must select a means of market entry.One of the four general options is

Correct Answer
verified

The four largest importers of U.S.products and services are

Correct Answer
verified

Exam 6: Understanding and Reaching Global Consumers and Markets

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

Correct AnswerverifiedShow Answer

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

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

The European Union (EU) in early 2017 consisted of 28 countries with more than 500 million consumers.The EU has eliminated most barriers to the free flow of products,capital,and labor across its borders.Which of the following countries is not a member of the EU?

Correct AnswerverifiedShow Answer

A global marketer selling consumer products should consider what the __________ is among a country's consumers and how income is distributed to determine a nation's purchasing power to understand the nation's purchasing power.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Frito-Lay produces and markets potato chips in Russia that have seafood flavor.This is an example of which type of global marketing product and promotion strategy?

Correct AnswerverifiedShow Answer

Which of the following issues raises concerns about the ethics of protectionism?

Correct AnswerverifiedShow Answer

Describe the World Trade Organization (WTO)and its purpose.

Correct AnswerverifiedThe World Trade Organization (WTO)was fo...View AnswerShow Answer

Semiotics refers to

Correct AnswerverifiedShow Answer

The reverence that Japan shows toward its elderly is an example of that nation's

Correct AnswerverifiedShow Answer

When Nestlé actually owns a subsidiary or division in a foreign country,such as its own ice cream manufacturing operation in China,this global market entry strategy is known as __________ and represents the greatest commitment a company can make to international sales.

Correct AnswerverifiedShow Answer

When a firm sells a product in a foreign country below its domestic price or below its actual cost,the practice is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A global brand refers to

Correct AnswerverifiedShow Answer

Harley-Davidson motorcycles,Gillette razors,and Nike apparel and shoes are being sold in the same form in many countries.This is an example of which type of global marketing product and promotion strategy?

Correct AnswerverifiedShow Answer

Global marketing is affected by economic considerations.Identify the three steps that should be performed when scanning the global marketplace.

Correct AnswerverifiedA scan of the global marketplace should ...View AnswerShow Answer

Most companies become involved in direct exporting when

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Once a company has decided to enter the global marketplace,it must select a means of market entry.One of the four general options is

Correct AnswerverifiedShow Answer

The four largest importers of U.S.products and services are

Correct AnswerverifiedShow Answer

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Licensing offers the right to a company ...
View Answer

Correct Answer
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The World Trade Organization (WTO)was fo...
View Answer

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Correct Answer
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A scan of the global marketplace should ...
View Answer

Correct Answer
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