Question 1

Figure 7-1
-According to Figure 7-1 above,which of the following countries is the world's leading importer?

Accepted Answer

A)   France
B)   Germany
C)   Japan
D)   United States
E)   ChinaF) All of the above
G) A) and D)

Question 2

Which of the following is an example of a demand condition?

Accepted Answer

A)   available natural resources
B)   existence of supplier clusters
C)   sophistication of consumers
D)   intensity of competition
E)   competitive wage ratesF) A) and C)
G) A) and B)

Question 3

form of low-risk and capital-free entry into international markets that includes local manufacturing and local assembly is referred to as

Accepted Answer

A)   indirect exporting.
B)   direct ownership.
C)   joint ventures.
D)   licensing.
E)   direct exporting.F) C) and E)
G) A) and B)

Question 4

Wilson Creative Cosmetics attributes its success to a top-quality product,effective advertising,and a novel __________ program.

Accepted Answer

A)   joint venture
B)   cooperative agreement
C)   franchise operation
D)   export marketing
E)   direct investmentF) C) and D)
G) A) and E)

Question 5

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 product strategy?

Accepted Answer

A)   product extension
B)   product customization
C)   product adaptation
D)   product invention
E)   product integrationF) All of the above
G) A) and D)

Question 6

Michael Porter has identified four key elements to explain why some companies and industries succeed globally while others fail.These four elements are collectively referred as

Accepted Answer

A)   the balance of trade wheel.
B)   the points of difference effect.
C)   the trade feedback effect.
D)   the international trade pyramid.
E)   the diamond of national competitive advantage.F) A) and B)
G) A) and E)

Question 7

European Union consists of 27 member countries.This single market houses more than __________ million consumers with a combined GDP that is larger than that of the United States.

Accepted Answer

A)   100
B)   200
C)   300
D)   400
E)   500F) A) and B)
G) A) and C)

Question 8

a general rule,__________ seems to work best when the consumer market target for the product is alike across countries and cultures-that is,consumers share the same desires,needs,and use for the product.

Accepted Answer

A)   product adaptation
B)   product extension
C)   product integration
D)   product invention
E)   product customizationF) A) and C)
G) B) and D)

Question 9

signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.Discuss this statement.

Accepted Answer

This statement indicates that the U.S.Tr...

Question 10

Economic espionage is the clandestine collection of trade secrets or __________.

Accepted Answer

A)   government economic information
B)   industrial intelligence
C)   proprietary information about competitors
D)   government weapons information
E)   banking listsF) B) and D)
G) A) and E)

Question 11

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)   when a foreign country and a local firm invest together to create a local business.
D)   when a firm sells its domestically produced goods in a foreign country through an intermediary.
E)   when a firm sells its domestically produced goods in a foreign country without intermediaries.F) C) and E)
G) C) and D)

Question 12

Which of the following statements about the dynamics of world trade is most accurate?

Accepted Answer

A)   Manufactured goods and commodities account for only 10 percent of world trade.
B)   Three-fourths of world trade includes services such as telecommunications, transportation, and banking.
C)   World trade will likely exceed $25 trillion by 2015.
D)   All nations participate equally in world trade.
E)   There is still greater growth potential in developed countries than emerging ones.F) B) and C)
G) A) and E)

Question 13

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

Accepted Answer

A)   direct exporting.
B)   indirect exporting.
C)   licensing.
D)   contract manufacturing.
E)   foreign assembly.F) None of the above
G) B) and E)

Question 14

you wanted to set up a business importing amber from Latvia to the United States,you would have to plan on paying the U.S.Customs Service roughly 20 percent of the value of the product as a(n) __________.

Accepted Answer

A)   bribe
B)   tariff
C)   subsidy
D)   excise tax
E)   quotaF) B) and D)
G) B) and E)

Question 15

is the term for a firm selling a product in a foreign country below its domestic price or below its actual cost?

Accepted Answer

A)   dumping
B)   surplus marketing
C)   second-market pricing
D)   channeling
E)   entrepreneurial pricingF) A) and E)
G) D) and E)

Question 16

world's largest manufacturer of peppermint candy canes was 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 (as existed in the United States) on the amount of sugar that can be brought into the nation.The movement of this U.S.business to Mexico was caused by a(n) __________ established by the U.S.government.

Accepted Answer

A)   tariff
B)   trade imbalance
C)   quota
D)   excise tax
E)   subsidyF) B) and C)
G) D) and E)

Question 17

Parthenon Photo
-field of study that examines the correspondence between symbols and their role in the assignment of meaning for people is referred to as

Accepted Answer

A)   back translation.
B)   symbiotics.
C)   semiotics.
D)   symbolic linguistics.
E)   cross-cultural analysis.F) D) and E)
G) B) and D)

Question 18

Which of the following statements about global brands is most accurate?

Accepted Answer

A)   A global brand is marketed under different names but uses identical ads for all markets.
B)   A global brand has centrally coordinated marketing programs.
C)   A global brand alters the product formulation or service for each geographical region.
D)   A global brand delivers multiple benefits based on the GDP of each country.
E)   A global brand is a collaborative effort among several different national firms.F) A) and E)
G) A) and D)

Question 19

a degree,every country engages in some form of protectionism.Over the past 50 years however,this practice has diminished,in large part due to

Accepted Answer

A)   an alignment of nations by ethnicity rather than geographical borders.
B)   an increase in population and a decrease in resources.
C)   the evolution of mass media.
D)   the establishment of GATT.
E)   an alignment of nations by political ideology rather than geographical borders.F) C) and D)
G) B) and E)

Question 20

belief that aspects of one's culture are superior to another's is referred to as

Accepted Answer

A)   cultural ethnocentricity.
B)   consumer ethnocentrism.
C)   cultural commitment.
D)   cross-cultural bias.
E)   cultural imperialism.F) B) and C)
G) A) and E)

Exam 7: Understanding and Reaching Global Consumers and Markets

Wilson Creative Cosmetics attributes its success to a top-quality product,effective advertising,and a novel __________ program.

Correct Answer
verified

belief that aspects of one's culture are superior to another's is referred to as

Correct Answer
verified

is the term for a firm selling a product in a foreign country below its domestic price or below its actual cost?

Correct Answer
verified

Which of the following statements about the dynamics of world trade is most accurate?

Correct Answer
verified

Which of the following statements about global brands is most accurate?

Correct Answer
verified

Which of the following is an example of a demand condition?

Correct Answer
verified

Parthenon Photo -field of study that examines the correspondence between symbols and their role in the assignment of meaning for people is referred to as

Correct Answer
verified

a degree,every country engages in some form of protectionism.Over the past 50 years however,this practice has diminished,in large part due to

Correct Answer
verified

Correct Answer
verified

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 product strategy?

Correct Answer
verified

Economic espionage is the clandestine collection of trade secrets or __________.

Correct Answer
verified

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

Correct Answer
verified

European Union consists of 27 member countries.This single market houses more than __________ million consumers with a combined GDP that is larger than that of the United States.

Correct Answer
verified

signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.Discuss this statement.

Correct Answer
verified
This statement indicates that the U.S.Tr...
View Answer

a general rule,__________ seems to work best when the consumer market target for the product is alike across countries and cultures-that is,consumers share the same desires,needs,and use for the product.

Correct Answer
verified

form of low-risk and capital-free entry into international markets that includes local manufacturing and local assembly is referred to as

Correct Answer
verified

Figure 7-1 -According to Figure 7-1 above,which of the following countries is the world's leading importer?

Correct Answer
verified

Direct exporting refers to

Correct Answer
verified

Michael Porter has identified four key elements to explain why some companies and industries succeed globally while others fail.These four elements are collectively referred as

Correct Answer
verified

you wanted to set up a business importing amber from Latvia to the United States,you would have to plan on paying the U.S.Customs Service roughly 20 percent of the value of the product as a(n) __________.

Correct Answer
verified

Exam 7: Understanding and Reaching Global Consumers and Markets

Wilson Creative Cosmetics attributes its success to a top-quality product,effective advertising,and a novel __________ program.

Correct AnswerverifiedShow Answer

belief that aspects of one's culture are superior to another's is referred to as

Correct AnswerverifiedShow Answer

is the term for a firm selling a product in a foreign country below its domestic price or below its actual cost?

Correct AnswerverifiedShow Answer

Which of the following statements about the dynamics of world trade is most accurate?

Correct AnswerverifiedShow Answer

Which of the following statements about global brands is most accurate?

Correct AnswerverifiedShow Answer

Which of the following is an example of a demand condition?

Correct AnswerverifiedShow Answer

Parthenon Photo -field of study that examines the correspondence between symbols and their role in the assignment of meaning for people is referred to as

Correct AnswerverifiedShow Answer

a degree,every country engages in some form of protectionism.Over the past 50 years however,this practice has diminished,in large part due to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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 product strategy?

Correct AnswerverifiedShow Answer

Economic espionage is the clandestine collection of trade secrets or __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

European Union consists of 27 member countries.This single market houses more than __________ million consumers with a combined GDP that is larger than that of the United States.

Correct AnswerverifiedShow Answer

signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.Discuss this statement.

Correct AnswerverifiedThis statement indicates that the U.S.Tr...View AnswerShow Answer

a general rule,__________ seems to work best when the consumer market target for the product is alike across countries and cultures-that is,consumers share the same desires,needs,and use for the product.

Correct AnswerverifiedShow Answer

form of low-risk and capital-free entry into international markets that includes local manufacturing and local assembly is referred to as

Correct AnswerverifiedShow Answer

Figure 7-1 -According to Figure 7-1 above,which of the following countries is the world's leading importer?

Correct AnswerverifiedShow Answer

Direct exporting refers to

Correct AnswerverifiedShow Answer

Michael Porter has identified four key elements to explain why some companies and industries succeed globally while others fail.These four elements are collectively referred as

Correct AnswerverifiedShow Answer

you wanted to set up a business importing amber from Latvia to the United States,you would have to plan on paying the U.S.Customs Service roughly 20 percent of the value of the product as a(n) __________.

Correct AnswerverifiedShow Answer

Correct Answer
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verified
This statement indicates that the U.S.Tr...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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