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Exam 7: Serving Global Markets

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Question 41

Multiple Choice

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What does a multidomestic marketing strategy indicate about a firm?

A) customizes its marketing decisions to effectively reach individual marketplaces
B) disregards the principles of market segmentation
C) considers all foreign countries to have equally competitive situations
D) employs universal promotional messages

E) A) and B)
F) B) and C)

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Question 42

Multiple Choice

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A Canadian firm is considering marketing its products in another country. The new market is attractive, but the country's cultural and legal environments are different from those in Canada. Based only on the information provided, how should the firm proceed?

A) Avoid the new market completely and focus only on the domestic market.
B) Enter the new market using the same marketing strategy the firm uses in Canada.
C) Enter the new market using the same marketing strategy the firm employs in existing foreign markets.
D) Enter the new market using a new marketing strategy designed for that specific market.

E) C) and D)
F) None of the above

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Question 43

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Match each item to the statement or sentence listed below. a.exporting b.World Trade Organization c.infrastructure d.exchange rate e.tariff f.import quota g.dumping h.ISO certification i.foreign licensing j.multinational corporation k.global marketing strategy l.multi-domestic marketing strategy m.countertrade n.joint venture o.exchange control p.customs union q.Free Trade Area of the Americas r.European Union s.importer t.embargo u.franchise -A(n) _____ is the price of one nation's currency in terms of another nation's currency.

Many marketing experts believe that most products require multidomestic marketing strategies to give them a realistic global marketing appeal.

What is the goal of the EU?

Following the United States, who is Canada's second largest trading partner?

What is the term for a contractual arrangement in which a wholesaler or retailer agrees to meet the operating requirements of a manufacturer?

A successful implementation of a straight extension strategy creates universal recognition of a product for consumers from country to country.

An importer takes goods manufactured domestically and sells them abroad.

Embargoes impose a complete ban on the import of specific products from a particular country.

Explain the significance of NAFTA and FTAA.

Which of the following is NOT a reason why global trade is vital to a nation and its marketers?

Use of a straight extension marketing strategy usually results in economies of scale in production and marketing.

Today it is likely for a multinational corporation to be Japanese, German, British, or North American.

Changing both the product and promotion strategy to fit a foreign market is called global adaptation.

Canadian firms operating in the international marketplace are affected by a legal environment, including Canadian law, international law, and legal requirements of host countries.

Match each item to the statement or sentence listed below. a.exporting b.World Trade Organization c.infrastructure d.exchange rate e.tariff f.import quota g.dumping h.ISO certification i.foreign licensing j.multinational corporation k.global marketing strategy l.multi-domestic marketing strategy m.countertrade n.joint venture o.exchange control p.customs union q.Free Trade Area of the Americas r.European Union s.importer t.embargo u.franchise -The _____ replaced General Agreement on Tarrifs and Trade and makes binding decisions in mediating disputes and reducing trade barriers.

Marketing abroad requires only one step: all rules and regulations for bringing the product to market must be researched and considered.

What type of trade restriction is the Russian government using when it imposes a ban on the wines imported from Georgia?

What is a form of multinational economic integration that seeks to reconcile all government regulations affecting trade called?