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Exam 7: Understanding and Reaching Global Consumers and Markets

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Question 41

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According to Figure 7-5 above,points "B" and "C" would most likely represent __________ and __________ options respectively for entering the global marketplace.

A) exporting;licensing
B) licensing;joint venture
C) joint venture;direct investment
D) exporting;direct investment
E) exporting;joint venture

F) None of the above
G) B) and C)

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Question 42

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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/promotion strategy?

A) product extension
B) product customization
C) product adaptation
D) product invention
E) product integration

F) A) and B)
G) All of the above

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Question 43

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Trade among nations or regions depends on political stability.In recent times,billions of dollars have been lost in __________ and __________ as a result of internal political strife,terrorism,and war.

Which form of entry into a foreign market requires the greatest commitment?

A Tokyo shopkeeper would have been wise to use __________ to verify the accuracy of the new sign in English he purchased for his dry cleaning business.The sign read,"Drop your pants here for best results," which he didn't know had another suggestive meaning to native speakers.

Disney employed a(n) __________ marketing strategy for its Disneyland Paris,particularly when it came to the eateries in the park.These restaurants featured recipes that were revised for local tastes,alcoholic beverages (not permitted in previous parks) ,and increased outdoor seating.

One variation of licensing is referred to as

Collaborative relationships are becoming a common way to meet the demands of global competition.Global __________ are agreements between two or more independent firms to cooperate for the purpose of achieving common goals such as a competitive advantage or customer value creation.

GlaxoSmithKline plc.of Great Britain makes Breathe-Right nasal strips.It sells the same product in many countries because customers all over the world will use them in the same way.This is an example of which type of global marketing product/promotion strategy?

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

Figure 7-7 above outlines the distribution channels through which a product manufactured in one country must travel to reach its destination in another country."B" represents the

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

Global companies have five strategies for matching products and their promotion efforts to global markets.The strategy of selling virtually the same product in other countries is referred to as

Another term for a gray market is

McDonald's sells its popular Maharaja Mac that consists of two all-chicken patties,special sauce,lettuce,cheese,pickles,and onions on a sesame-seed bun in __________.

Each day,in a third-class carriage of the express train that runs between Bombay and Ahmadabad,plainly dressed couriers carry precious cargo: diamonds.Rough gems are imported to Bombay from dealers in London,Antwerp,Tel Aviv,and New York.Couriers then take these gems to cutting and polishing centers in Gujarat state and then carry them back to Bombay to be reexported to the world.This system,based on trust,secrecy,and skilled low-cost labor,has worked for half a century.It has helped make India the world's premier center for diamond cutting and polishing.Nine out of every 10 stones sold in the world pass through India,making diamonds that country's largest export.India's ability to use its skilled labor as a resource is an example of what Michael Porter would term

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

Unilever markets its Snuggle fabric softener differently to different parts of the world.Unilever is a(n) __________ firm.

Government taxes on products or services entering a country that primarily serve to raise prices on imports are referred to as

According to Michael Porter's diamond in Figure 7-2 above,quadrant "D" represents