Question 1

Four major trends affecting world trade in the past decade are a gradual decline in economic protectionism exercised by individual countries, formal integration and free trade among nations, global competition among global companies for global customers, and

Accepted Answer

A)  an increase in economic protectionism and a decline free trade.
B)  redefined national boundaries and a more aggressive attitude towards initiating international tariffs and quota systems.
C)  a decrease in most countries' GDPs and a renewal of nationalism.
D)  emergence of networked global marketspace.
E)  an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism.F) A) and B)
G) All of the above

Question 2

FIGURE 7-8 
-According to Figure 7-8 above, cell "D" refers to which type of product and promotion strategy?

Accepted Answer

A)  product extension strategy
B)  product adaptation strategy
C)  dual adaptation strategy
D)  product invention strategy
E)  communication adaptation strategyF) B) and C)
G) A) and C)

Question 3

Which of the following types of firms would be most likely to use a global marketing strategy?

Accepted Answer

A)  multidomestic
B)  multinational
C)  multicountry
D)  transnational
E)  transborderF) A) and E)
G) A) and D)

Question 4

Licensing 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)  having a company handle its own exports directly, without intermediaries.
E)  exporting through an intermediary, which often has the knowledge and means to succeed in selling a firm's product abroad.F) A) and B)
G) All of the above

Question 5

What market entry option 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) B) and D)
G) B) and E)

Question 6

Chrysler Corporation wanted to sell its Jeeps in Japan.The SUV 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)  equity exchange factor.F) A) and B)
G) B) and C)

Question 7

Japanese car safety rules require all automobile replacement parts to be Japanese and not American or European.Japan has some 11,000 trade regulations.This is an example of

Accepted Answer

A)  EU ISO 9000 quality standards.
B)  trade barriers.
C)  universal codes.
D)  binding requirements.
E)  "the price of doing business."F) None of the above
G) A) and E)

Question 8

Those in favor of protectionism advocate that protectionism

Accepted Answer

A)  helps reduce tariffs and quotas.
B)  safeguards a nation's economy from foreign competition.
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) A) and B)
G) C) and E)

Question 9

FIGURE 7-6 
-According to Figure 7-6 above, points "A" and "D" would most likely be __________ and __________ respectively.

Accepted Answer

A)  joint venture; licensing
B)  licensing; exporting
C)  licensing; joint venture
D)  direct investment; licensing
E)  exporting; direct investmentF) All of the above
G) B) and D)

Question 10

A small Canadian winery located in British Columbia has developed a superior tasting wine.They have no overseas contacts but want to get their wine on the shelves in selected Asian and European markets where growth has been substantial in the last two years.What type of exporting option would best suit this company?

Accepted Answer

A)  direct exporting
B)  indirect exporting
C)  licensing
D)  joint venture
E)  cooperative partnershipF) C) and D)
G) None of the above

Question 11

Currency exchange rate refers to

Accepted Answer

A)  the unit equivalency of all international currency.
B)  the ratio of a nation's basic unit of currency to the international gold standard.
C)  the ratio of a nation's basic unit of currency relative to its own cache of gold.
D)  the price of one country's currency expressed in terms of another country's currency.
E)  the unit of wealth (gold, oil, diamonds, etc.)  upon which a nation bases its national currency.F) All of the above
G) D) and E)

Question 12

The best-known quota concerns the limits of __________ in many countries.

Accepted Answer

A)  coffee beans
B)  foreign automobiles
C)  precious gems
D)  crude oil
E)  natural gasF) B) and E)
G) A) and D)

Question 13

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)  polycentric
B)  foreign expansion
C)  international
D)  multinational
E)  transnationalF) A) and E)
G) B) and C)

Question 14

FIGURE 7-5 
-Nestlé markets its Kit Kat (see Figure 7-5 above)  bar globally, including Japan.In Japan, "Kit Kat" means "I hope you win." Experienced global marketers are concerned with _________ which involves using interpreters to ensure that words used in brand names or advertisements in a foreign market do not cause problems with or errors in meaning.

Accepted Answer

A)  unispeak
B)  semiotics
C)  back translation
D)  semantic symbolism
E)  linguistic exchangeF) B) and E)
G) B) and C)

Question 15

The representations of ideas and concepts to which different cultures often attach different meanings are referred to as

Accepted Answer

A)  universal symbols.
B)  symbolic concepts.
C)  ideological representations.
D)  cultural representations.
E)  cultural symbols.F) A) and B)
G) B) and E)

Question 16

Since global marketing is affected by economic considerations, a scan of the global marketplace should include an assessment of the economic infrastructure in different countries, measurement of consumer income in different countries, and

Accepted Answer

A)  an analysis of cultural diversity within the country under consideration.
B)  regulatory constraints regarding contracts, mergers, and partnerships.
C)  recognition of a country's currency exchange rates.
D)  an assessment of language differences including dialect variation.
E)  political and ideological differences between the countries involved.F) A) and D)
G) All of the above

Question 17

Economic infrastructure refers to

Accepted Answer

A)  a nation's military-industrial complex.
B)  a country's governmental services.
C)  the people and the wealth of a nation.
D)  a country's communication, transportation, financial, and distribution systems.
E)  all of a country's natural resources, whether or not they are currently being exploited.F) A) and B)
G) None of the above

Question 18

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

Accepted Answer

Back translation is the process of trans...

Exam 7: Understanding and Reaching Global Consumers and Markets

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

Correct Answer
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Back translation is the process of trans...
View Answer

Correct Answer
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Those in favor of protectionism advocate that protectionism

Correct Answer
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FIGURE 7-8 -According to Figure 7-8 above, cell "D" refers to which type of product and promotion strategy?

Correct Answer
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Correct Answer
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Chrysler Corporation wanted to sell its Jeeps in Japan.The SUV 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

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

Currency exchange rate refers to

Correct Answer
verified

FIGURE 7-6 -According to Figure 7-6 above, points "A" and "D" would most likely be and respectively.

Correct Answer
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Economic infrastructure refers to

Correct Answer
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The best-known quota concerns the limits of __________ in many countries.

Correct Answer
verified

Four major trends affecting world trade in the past decade are a gradual decline in economic protectionism exercised by individual countries, formal integration and free trade among nations, global competition among global companies for global customers, and

Correct Answer
verified

Licensing refers to

Correct Answer
verified

Since global marketing is affected by economic considerations, a scan of the global marketplace should include an assessment of the economic infrastructure in different countries, measurement of consumer income in different countries, and

Correct Answer
verified

Japanese car safety rules require all automobile replacement parts to be Japanese and not American or European.Japan has some 11,000 trade regulations.This is an example of

Correct Answer
verified

Which of the following types of firms would be most likely to use a global marketing strategy?

Correct Answer
verified

The representations of ideas and concepts to which different cultures often attach different meanings are referred to as

Correct Answer
verified

What market entry option 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

Exam 7: Understanding and Reaching Global Consumers and Markets

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

Correct AnswerverifiedBack translation is the process of trans...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Those in favor of protectionism advocate that protectionism

Correct AnswerverifiedShow Answer

FIGURE 7-8 -According to Figure 7-8 above, cell "D" refers to which type of product and promotion strategy?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Chrysler Corporation wanted to sell its Jeeps in Japan.The SUV 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

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

Currency exchange rate refers to

Correct AnswerverifiedShow Answer

FIGURE 7-6 -According to Figure 7-6 above, points "A" and "D" would most likely be __________ and __________ respectively.

Correct AnswerverifiedShow Answer

Economic infrastructure refers to

Correct AnswerverifiedShow Answer

The best-known quota concerns the limits of __________ in many countries.

Correct AnswerverifiedShow Answer

Four major trends affecting world trade in the past decade are a gradual decline in economic protectionism exercised by individual countries, formal integration and free trade among nations, global competition among global companies for global customers, and

Correct AnswerverifiedShow Answer

Licensing refers to

Correct AnswerverifiedShow Answer

Since global marketing is affected by economic considerations, a scan of the global marketplace should include an assessment of the economic infrastructure in different countries, measurement of consumer income in different countries, and

Correct AnswerverifiedShow Answer

Japanese car safety rules require all automobile replacement parts to be Japanese and not American or European.Japan has some 11,000 trade regulations.This is an example of

Correct AnswerverifiedShow Answer

Which of the following types of firms would be most likely to use a global marketing strategy?

Correct AnswerverifiedShow Answer

The representations of ideas and concepts to which different cultures often attach different meanings are referred to as

Correct AnswerverifiedShow Answer

What market entry option 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

Correct Answer
verified
Back translation is the process of trans...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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FIGURE 7-6 -According to Figure 7-6 above, points "A" and "D" would most likely be and respectively.

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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