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Exam 8: Tapping Into Global Markets

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Question 1

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A waterfall approach to entering foreign markets is described as entering countries simultaneously.

A) True
B) False

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Question 2

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Coors brand slogan "Turn it loose" translated into Spanish was interpreted as "suffer from diarrhea," which is an example of why marketers may need to change brand elements when they launch products and services globally.

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B) False

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Question 3

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A well-known producer of breakfast cereals has decided to hire producers in different countries so that the cereals marketed under their brand are locally produced in the respective countries. This would not only appeal more to consumers who prefer domestically produced goods, but would also create jobs in the host-country enhancing the brand's image further. This is an example of ________.

Companies enter the international market only when their domestic markets are saturated.

Straight extension of the product means introducing ________.

Nash & Associates is a firm that takes care of all export procedures on behalf of its clients. In exchange for a fee, the firm acts as the liaison between domestic manufacturers and prospective foreign buyers. It has access to established distribution networks in other countries that domestic small-scale producers are unlikely to have, and facilitates communication between foreign importers and domestic producers. Nash & Associates is most likely a(n) ________.

What is a global firm?

Define psychic proximity and explain why it is important for companies engaged in exporting products.

Which of the following is true about direct investment as a mode of international expansion?

A2Z Inc. is a producer of a wide variety of consumer goods in Brazil. It has successfully captured a huge share of the domestic market and has been able to create a very strong brand. It is now considering a foray into foreign markets. Its board of directors decides to first try out some of its products in the neighboring country of Argentina. A2Z plans to eventually expand its presence in other countries, after they analyze the impact of their entry into the Argentine market. A2Z Inc. is following a ________ approach.

If a company charges its subsidiary in a foreign country too low a transfer price, it can be accused of dumping.

In India, where people often buy items like cigarettes one at a time because incomes are low and people shop daily because homes lack storage and refrigeration, ________ remains an important function of intermediaries and helps perpetuate long channels of distribution.

Identify a benefit of using a joint venture to enter a foreign market.

Domestic-based export agents perform a valuable service for companies seeking to enter foreign markets. The primary function of these agents is to ________.

More than 90 percent of future population growth is projected to occur in the less developed countries.

According to Hofstede, cultures with weak uncertainty avoidance are best described as ________.

Cooperative organizations carry on exporting activities on behalf of several producers and are partly under their administrative control.

Satisfying different consumer needs and wants can require different marketing programs. Name the four cultural dimensions that differentiate countries, as identified by Hofstede.

A global firm is a firm that operates in more than one country and captures R&D, production, logistical, marketing, and financial advantages not available to purely domestic competitors.

Nestlé, Unilever, and Modelēz get close to or above 40 percent of their total business coming from emerging markets.