Question 1

The European Union (EU)  has been beneficial to electronic commerce because it is no longer necessary to

Accepted Answer

A)   use multiple languages when settling accounts for purchases made across borders.
B)   continually monitor currency exchange rates among participating nations.
C)   trade with the former Eastern European communist countries.
D)   obey international e-trade regulations.
E)   use the American dollar as the economic standard.F) C) and D)
G) A) and B)

Question 2

The trade feedback effect is one argument for

Accepted Answer

A)   decreasing a nation's exports.
B)   free trade agreements.
C)   increased tariffs and quotas.
D)   international trade associations.
E)   decreasing a nation's imports.F) C) and D)
G) B) and E)

Question 3

A quota refers to

Accepted Answer

A)   a government tax on products or services entering a country that primarily serves to raise prices on imports.
B)   government payments to companies or industries that serve to lower costs and provide a competitive advantage to domestic industries.
C)   a restriction placed on the amount of a product allowed to enter or leave a country.
D)   a minimum requirement for the purchase of specific products or services between two nations.
E)   a refusal to purchase or exchange products or services with another nation unless certain financial or ideological requirements have been satisfied.F) All of the above
G) C) and D)

Question 4

________ firm engages in trade and marketing in different countries as an extension of the marketing strategy in its home country.

Accepted Answer

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

Question 5

To eliminate the need to continually monitor currency exchange rates, 16 of the countries in the European Union (EU)  have adopted a common currency, which is called the

Accepted Answer

A)   pound.
B)   franc.
C)   euro.
D)   mark.
E)   dollar.F) A) and D)
G) C) and D)

Question 6

A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs is referred to as

Accepted Answer

A)   a transnational brand.
B)   an international brand.
C)   a multinational brand.
D)   a global brand.
E)   a borderless brand.F) A) and B)
G) D) and E)

Question 7

Which form of entry into a global market makes a firm the most vulnerable to harm regarding its brand name or reputation?

Accepted Answer

A)   direct exporting
B)   indirect exporting
C)   licensing
D)   direct investment
E)   joint ventureF) None of the above
G) A) and E)

Question 8

Consider the distribution channels through which a product manufactured in one country must travel to reach its destination in another country. Channels of distribution in global marketing are often long and complex. The availability and quality of retailers and wholesalers as well as transportation, communication, and warehousing facilities are often determined by

Accepted Answer

A)   the seller and the exporter.
B)   a country's stage of economic development.
C)   the seller's international marketing headquarters and the channels between nations.
D)   channels between nations and the channels within the foreign nation.
E)   channels within the foreign nation and the foreign retailer.F) B) and E)
G) B) and D)

Question 9

U.S. appliance manufacturers note that people in Northern Europe shop only once a week, so they need bigger refrigerators than Southern Europeans who shop daily. Furthermore, Northern Europeans insist that freezers should be on the top just as firmly as Southern Europeans want them on the bottom. Based on this, U.S. appliance manufacturers would more likely be successful if they used ________ marketing strategy.

Accepted Answer

A)   a global
B)   a multidomestic
C)   a transnational
D)   a meganational
E)   an internationalF) A) and C)
G) C) and D)

Question 10

Before Apple's iPhone 8 was officially for sale in China, it was being sold there. These phones were purchased in the United States, Hong Kong, and other markets, and then resold by unauthorized vendors in China for between $1,700 and $2,500. These products are considered to be part of

Accepted Answer

A)   under-the-counter sales.
B)   over-the-counter sales.
C)   the gray market.
D)   integrated global channels.
E)   breaking the distribution monopoly.F) A) and D)
G) A) and C)

Question 11

Which of the following examples best demonstrates a company's appreciation of another country's values?

Accepted Answer

A)   American companies in Germany encourage the use of all types of credit cards.
B)   In Brazil, American companies are extremely careful to keep to a strict agenda and time schedule, even though an informal structure is preferred.
C)   Bath products are advertised by portraying intimate scenes between husbands and wives in countries where personal privacy is important.
D)   McDonald's restaurants in India sell the Maharaja Mac rather than beef products.
E)   Vogue Italia published a feature with a model wearing "slave earrings," which it said were "worn by women of color during the slave trade."F) B) and E)
G) None of the above

Question 12

An institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the

Accepted Answer

A)   League of Nations (LoN) .
B)   World Trade Organization (WTO) .
C)   Association for Commerce Equity (AC
E)  .
D)   United Nations Board of Trade (UNBT) .
E)   Global Better Business Bureau (BBB-G) .F) A) and E)
G) D) and E)

Question 13

Chrysler Corp. 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 3,100,000 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 trade.F) A) and C)
G) None of the above

Question 14

Indirect exporting refers to

Accepted Answer

A)   offering the right to a trademark, patent, trade secret, or similarly valued item of intellectual property in return for a royalty or fee.
B)   selling a firm's domestically produced products in a foreign country without interference by that government.
C)   contracting with a foreign firm to manufacture products according to stated specifications.
D)   avoiding the use of additional parties when a firm sells its domestically produced products in another country.
E)   selling a firm's domestically produced products in a foreign country through an intermediary.F) A) and E)
G) All of the above

Question 15

The Japanese manufacture tractors for rice paddies. They are smaller than most U.S. tractors and perfect for a weekend farmer who wants to tend to a small garden. The tractors are not sold in the United States through any authorized channels, yet they are available in the United States at prices below the manufacturer's suggested retail price. These Japanese tractors are being sold

Accepted Answer

A)   through the gray market.
B)   under the table.
C)   over the counter.
D)   with bypassed global channels.
E)   by breaking the distribution monopoly.F) A) and B)
G) B) and E)

Question 16

What global market entry strategy allows a company to make the least number of changes in terms of its product, its organization, and even its corporate goals?

Accepted Answer

A)   exporting
B)   licensing
C)   joint venture
D)   direct investment
E)   franchisingF) A) and B)
G) A) and E)

Question 17

In Japan, women give men chocolates on Valentine's Day. This is an example of

Accepted Answer

A)   a custom.
B)   a value.
C)   a demographic pattern.
D)   a belief.
E)   an idiosyncrasy.F) C) and E)
G) D) and E)

Question 18

Why is it wise for global marketers to use back translation? Provide an example to support your answer.

Accepted Answer

Back translation refers to a translated ...

Question 19

The U.S. Commerce Department imposed additional duties of 31 percent to 250 percent on imported photovoltaic products from Chinese solar manufacturers after ruling that they sold them below cost. The Commerce Department took this action in response to what it saw as

Accepted Answer

A)   tariff avoidance.
B)   countertrade.
C)   surplus marketing.
D)   underbidding.
E)   dumping.F) A) and E)
G) All of the above

Question 20

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

Accepted Answer

A)   The WTO acts as an agent in trade negotiations between its members and the remainder of the world.
B)   The 119 member countries of the WTO account for about 25 percent of world trade.
C)   The WTO attempts to mitigate trade wars between countries.
D)   The WTO uses legal scholars who can only issue nonbinding recommendations.
E)   The WTO was formed by the United Nations.F) A) and E)
G) B) and E)

Exam 6: Understanding and Reaching Global Consumers and Markets

The European Union (EU) has been beneficial to electronic commerce because it is no longer necessary to

Correct Answer
verified

________ firm engages in trade and marketing in different countries as an extension of the marketing strategy in its home country.

Correct Answer
verified

What global market entry strategy allows a company to make the least number of changes in terms of its product, its organization, and even its corporate goals?

Correct Answer
verified

The U.S. Commerce Department imposed additional duties of 31 percent to 250 percent on imported photovoltaic products from Chinese solar manufacturers after ruling that they sold them below cost. The Commerce Department took this action in response to what it saw as

Correct Answer
verified

A quota refers to

Correct Answer
verified

An institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

To eliminate the need to continually monitor currency exchange rates, 16 of the countries in the European Union (EU) have adopted a common currency, which is called the

Correct Answer
verified

The trade feedback effect is one argument for

Correct Answer
verified

Chrysler Corp. 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 3,100,000 Japanese yen, and the Japanese could not afford to buy it. Its price was set without regard for the

Correct Answer
verified

In Japan, women give men chocolates on Valentine's Day. This is an example of

Correct Answer
verified

Why is it wise for global marketers to use back translation? Provide an example to support your answer.

Correct Answer
verified
Back translation refers to a translated ...
View Answer

Correct Answer
verified

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

Correct Answer
verified

Which of the following examples best demonstrates a company's appreciation of another country's values?

Correct Answer
verified

A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs is referred to as

Correct Answer
verified

Indirect exporting refers to

Correct Answer
verified

Before Apple's iPhone 8 was officially for sale in China, it was being sold there. These phones were purchased in the United States, Hong Kong, and other markets, and then resold by unauthorized vendors in China for between $1,700 and $2,500. These products are considered to be part of

Correct Answer
verified

Which form of entry into a global market makes a firm the most vulnerable to harm regarding its brand name or reputation?

Correct Answer
verified

Exam 6: Understanding and Reaching Global Consumers and Markets

The European Union (EU) has been beneficial to electronic commerce because it is no longer necessary to

Correct AnswerverifiedShow Answer

________ firm engages in trade and marketing in different countries as an extension of the marketing strategy in its home country.

Correct AnswerverifiedShow Answer

What global market entry strategy allows a company to make the least number of changes in terms of its product, its organization, and even its corporate goals?

Correct AnswerverifiedShow Answer

The U.S. Commerce Department imposed additional duties of 31 percent to 250 percent on imported photovoltaic products from Chinese solar manufacturers after ruling that they sold them below cost. The Commerce Department took this action in response to what it saw as

Correct AnswerverifiedShow Answer

A quota refers to

Correct AnswerverifiedShow Answer

An institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

To eliminate the need to continually monitor currency exchange rates, 16 of the countries in the European Union (EU) have adopted a common currency, which is called the

Correct AnswerverifiedShow Answer

The trade feedback effect is one argument for

Correct AnswerverifiedShow Answer

Chrysler Corp. 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 3,100,000 Japanese yen, and the Japanese could not afford to buy it. Its price was set without regard for the

Correct AnswerverifiedShow Answer

In Japan, women give men chocolates on Valentine's Day. This is an example of

Correct AnswerverifiedShow Answer

Why is it wise for global marketers to use back translation? Provide an example to support your answer.

Correct AnswerverifiedBack translation refers to a translated ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following examples best demonstrates a company's appreciation of another country's values?

Correct AnswerverifiedShow Answer

A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs is referred to as

Correct AnswerverifiedShow Answer

Indirect exporting refers to

Correct AnswerverifiedShow Answer

Before Apple's iPhone 8 was officially for sale in China, it was being sold there. These phones were purchased in the United States, Hong Kong, and other markets, and then resold by unauthorized vendors in China for between $1,700 and $2,500. These products are considered to be part of

Correct AnswerverifiedShow Answer

Which form of entry into a global market makes a firm the most vulnerable to harm regarding its brand name or reputation?

Correct AnswerverifiedShow Answer

Correct Answer
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Back translation refers to a translated ...
View Answer

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