Question 1

If you were responsible for marketing communications at a company that manufactures office supplies and had to provide product literature to be distributed in France, you would be wise to use __________, whereby you have someone to translate your literature from American English into French, and then have someone else in France translate the French into American English.

Accepted Answer

A)  back talk
B)  back translation
C)  double talk
D)  double entendre
E)  double indemnityF) B) and C)
G) A) and E)

Question 2

Which of the following statements about the World Trade Organization (WTO)  is most accurate?

Accepted Answer

A)  The World Trade Organization was formed in 2008 to response to the global recession.
B)  By mid-2013, there were 159 WTO member countries, including the United States, which account for more than 90 percent of world trade.
C)  The WTO sets rules governing trade between member and nonmember countries of the world.
D)  The WTO uses panels of trade experts who can issue non-binding recommendations.
E)  The WTO was formed by the United Nations.F) D) and E)
G) B) and D)

Question 3

The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis; most tariffs that affect pricing practices have been removed, and

Accepted Answer

A)  there is a legally binding code of economic conduct.
B)  there is immunity against world recessions.
C)  there are fewer regulatory restrictions on transportation, advertising, and promotion.
D)  there is a common language advantage among EU consumers.
E)  most companies within the EU are engaging in strategic global partnerships.F) A) and C)
G) A) and B)

Question 4

The North American Free Trade Agreement was designed to encourage free trade between

Accepted Answer

A)  North America, Central America, and South America.
B)  the United States and the European Union.
C)  member countries originally from NATO (North Atlantic Treaty Organization) .
D)  the United States, Canada, and Mexico.
E)  North America and the Commonwealth of Independent States.F) All of the above
G) A) and E)

Question 5

Yogen Früz is a successful chain of frozen yogurt shops originating in Canada. Archeology Investments has an agreement with the Canadian firm that grants rights to its company to open and operate Yogen Früz shops in Dubai, Oman, Qatar, Bahrain, and Kuwait. Yogen Früz is engaged in

Accepted Answer

A)  dual adaptation.
B)  a joint venture.
C)  direct exporting.
D)  indirect exporting.
E)  franchising.F) D) and E)
G) None of the above

Question 6

President Bill Clinton attempted to protect American firms from foreign competition by placing a government tax on Japanese automobiles imported to the United States. President Clinton's goal was to raise the price on Japanese imports, thereby encouraging American consumers to purchase American-made automobiles. The tax the President threatened to impose is an example of a __________.

Accepted Answer

A)  boycott
B)  quota
C)  tariff
D)  sanction
E)  subsidyF) B) and E)
G) D) and E)

Question 7

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

Accepted Answer

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

Question 8

Recently, the Japanese government, under pressure from its domestic farm lobby, slapped government taxes on mushrooms, leeks, and the reeds used in tatami mats that were being imported from China. These taxes Japan levied are referred to as

Accepted Answer

A)  WTO taxes.
B)  quotas.
C)  tariffs.
D)  excise taxes.
E)  subsidies.F) B) and C)
G) A) and C)

Question 9

A(n)  __________ firm engages in trade and marketing in different countries as an extension of the marketing strategy in its home country.

Accepted Answer

A)  multidomestic
B)  meganational
C)  international
D)  multinational
E)  transnationalF) A) and B)
G) A) and C)

Question 10

The political and regulatory climate for marketing in a country or region of the world means not only identifying the current environment but also determining how

Accepted Answer

A)  it conducts its macrofinancing.
B)  its citizens budget their money.
C)  long a favorable or unfavorable climate will last.
D)  the country's stocks are performing on the stock exchange.
E)  its population ranks in size compared to other countries.F) A) and D)
G) B) and C)

Question 11

Those in favor of protectionism argue that it

Accepted Answer

A)  helps reduce tariffs and quotas.
B)  encourages the development of domestic industries.
C)  encourages economic reliance on foreign countries.
D)  creates opportunities for the outsourcing of domestic jobs.
E)  creates a more favorable environment for a global economy.F) D) and E)
G) A) and C)

Question 12

The PRS group maintains a website that can be used to determine

Accepted Answer

A)  changing demographic and psychographic data for each country in the registry.
B)  a country's political risk ratings using multiple databases of country-specific information.
C)  the tariffs of each country and their relative effect on product and services sales.
D)  the rankings of American products relative to domestic equivalents in each country.
E)  changing social trends within different segments of the economy.F) B) and C)
G) All of the above

Question 13

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

Accepted Answer

A)  meganational firm.
B)  extranational firm.
C)  international firm.
D)  multinational firm.
E)  transnational firm.F) All of the above
G) D) and E)

Question 14

When a firm sells its domestically produced products in a foreign country through an intermediary, it is referred to as

Accepted Answer

A)  direct exporting.
B)  indirect exporting.
C)  licensing.
D)  franchising.
E)  foreign assembly.F) A) and D)
G) A) and E)

Question 15

KFC has added many offerings to its menus in China to appeal to local tastes, including the "Dragon Twister," which is a chicken wrap with Peking-duck sauce. This 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) A) and B)
G) A) and C)

Question 16

Whirlpool recently 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) A) and E)
G) A) and D)

Question 17

What is meant by the term economic infrastructure and how can this affect a firm's plans to enter a global market?

Accepted Answer

Economic infrastructure is a country's c...

Question 18

In terms of the global marketplace, there are three primary types of companies: __________ firms, multinational firms, and transnational firms.

Accepted Answer

A)  worldwide
B)  conglomerate
C)  intercontinental
D)  international
E)  cosmopolitanF) A) and D)
G) C) and D)

Question 19

Chrysler Corporation 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 ×31,000 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 tradeF) A) and B)
G) A) and C)

Question 20

-Global companies have five strategies for matching products and their promotion efforts to global markets. According to Figure 6-4 above, 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) C) and D)
G) C) and E)

Exam 6: Understanding and Reaching Global Consumers and Markets

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

Correct Answer
verified

What is meant by the term economic infrastructure and how can this affect a firm's plans to enter a global market?

Correct Answer
verified
Economic infrastructure is a country's c...
View Answer

The political and regulatory climate for marketing in a country or region of the world means not only identifying the current environment but also determining how

Correct Answer
verified

A(n) __________ firm engages in trade and marketing in different countries as an extension of the marketing strategy in its home country.

Correct Answer
verified

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

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

The North American Free Trade Agreement was designed to encourage free trade between

Correct Answer
verified

In terms of the global marketplace, there are three primary types of companies: __________ firms, multinational firms, and transnational firms.

Correct Answer
verified

Recently, the Japanese government, under pressure from its domestic farm lobby, slapped government taxes on mushrooms, leeks, and the reeds used in tatami mats that were being imported from China. These taxes Japan levied are referred to as

Correct Answer
verified

Correct Answer
verified

-Global companies have five strategies for matching products and their promotion efforts to global markets. According to Figure 6-4 above, C refers to which type of strategy?

Correct Answer
verified

Yogen Früz is a successful chain of frozen yogurt shops originating in Canada. Archeology Investments has an agreement with the Canadian firm that grants rights to its company to open and operate Yogen Früz shops in Dubai, Oman, Qatar, Bahrain, and Kuwait. Yogen Früz is engaged in

Correct Answer
verified

Chrysler Corporation 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 ×31,000 Japanese yen, and the Japanese could not afford to buy it. Its price was set without regard for the

Correct Answer
verified

Correct Answer
verified

The PRS group maintains a website that can be used to determine

Correct Answer
verified

When a firm sells its domestically produced products in a foreign country through an intermediary, it is referred to as

Correct Answer
verified

Correct Answer
verified

KFC has added many offerings to its menus in China to appeal to local tastes, including the "Dragon Twister," which is a chicken wrap with Peking-duck sauce. This is an example of which type of global marketing product and promotion strategy?

Correct Answer
verified

The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis; most tariffs that affect pricing practices have been removed, and

Correct Answer
verified

Those in favor of protectionism argue that it

Correct Answer
verified

Which of the following statements about the World Trade Organization (WTO) is most accurate?

Correct Answer
verified

Exam 6: Understanding and Reaching Global Consumers and Markets

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

Correct AnswerverifiedShow Answer

What is meant by the term economic infrastructure and how can this affect a firm's plans to enter a global market?

Correct AnswerverifiedEconomic infrastructure is a country's c...View AnswerShow Answer

The political and regulatory climate for marketing in a country or region of the world means not only identifying the current environment but also determining how

Correct AnswerverifiedShow Answer

A(n) __________ firm engages in trade and marketing in different countries as an extension of the marketing strategy in its home country.

Correct AnswerverifiedShow Answer

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

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

The North American Free Trade Agreement was designed to encourage free trade between

Correct AnswerverifiedShow Answer

In terms of the global marketplace, there are three primary types of companies: __________ firms, multinational firms, and transnational firms.

Correct AnswerverifiedShow Answer

Recently, the Japanese government, under pressure from its domestic farm lobby, slapped government taxes on mushrooms, leeks, and the reeds used in tatami mats that were being imported from China. These taxes Japan levied are referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

-Global companies have five strategies for matching products and their promotion efforts to global markets. According to Figure 6-4 above, C refers to which type of strategy?

Correct AnswerverifiedShow Answer

Yogen Früz is a successful chain of frozen yogurt shops originating in Canada. Archeology Investments has an agreement with the Canadian firm that grants rights to its company to open and operate Yogen Früz shops in Dubai, Oman, Qatar, Bahrain, and Kuwait. Yogen Früz is engaged in

Correct AnswerverifiedShow Answer

Chrysler Corporation 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 ×31,000 Japanese yen, and the Japanese could not afford to buy it. Its price was set without regard for the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The PRS group maintains a website that can be used to determine

Correct AnswerverifiedShow Answer

When a firm sells its domestically produced products in a foreign country through an intermediary, it is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

KFC has added many offerings to its menus in China to appeal to local tastes, including the "Dragon Twister," which is a chicken wrap with Peking-duck sauce. This is an example of which type of global marketing product and promotion strategy?

Correct AnswerverifiedShow Answer

The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis; most tariffs that affect pricing practices have been removed, and

Correct AnswerverifiedShow Answer

Those in favor of protectionism argue that it

Correct AnswerverifiedShow Answer

Which of the following statements about the World Trade Organization (WTO) is most accurate?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Economic infrastructure is a country's c...
View Answer

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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