Question 1

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

Accepted Answer

A)  The WTO is a permanent institution that sets rules governing trade between its members.
B)  The WTO sets rules governing trade between its members and the remainder of the world.
C)  The 153 member countries of the WTO account for approximately 55% of world trade.
D)  The WTO uses panels of trade experts who can issue non-binding recommendations.
E)  The WTO was formed by the United Nations.F) A) and C)
G) C) and D)

Question 2

The __________ arrangement between Ericsson, a Swedish telecommunications firm, and CGCT, a French switch maker, enabled them together to beat out AT&T for a $100 million French contract.

Accepted Answer

A)  franchising
B)  licensing
C)  joint venture
D)  direct investment
E)  exportingF) A) and E)
G) A) and D)

Question 3

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

Accepted Answer

A)  direct exporting
B)  indirect exporting
C)  licensing
D)  contract manufacturing
E)  joint venturesF) C) and E)
G) A) and B)

Question 4

Multidomestic marketing strategy refers to

Accepted Answer

A)  the strategy used by firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.
B)  the strategy used by firms that use the same product variations, brand names, and advertising programs for every country in which they do business.
C)  the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
D)  the strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm's products through host nation's established infrastructure.
E)  the strategy currently used by most U.S.domestic firms that when entering a new international market to select products that require the least amount of product adaptation or consumer education.F) A) and E)
G) C) and D)

Question 5

U.S.appliance manufacturers find that different customs about shopping must be used to determine product design.For instance, 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 loudly as Southern Europeans insist that freezers should be on the bottom.Other regions use their appliances differently and have other different product demands.Given this information, you should conclude U.S.appliance manufacturers would be more likely successful if they used a(n)  __________ marketing strategy.

Accepted Answer

A)  ethnocentric
B)  multidomestic
C)  transnational
D)  polycentric
E)  internationalF) A) and B)
G) A) and C)

Question 6

FIGURE 7-8 
-According to Figure 7-8 above, cell "E" 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) A) and E)
G) None of the above

Question 7

Customs refer to

Accepted Answer

A)  what is considered normal and expected about the way people do things in a specific country.
B)  those actions or activities within a community that is unique or distinctly different from any other group.
C)  actions or behaviors, which are repeated over time that carries a specific meaning only to a unique group, nationality, or ethnicity.
D)  traditions amongst a group of people, a nation, or ethnicity that affects their purchase behaviors.
E)  what would be considered unusual or unexpected, and even unacceptable, about the way people do things in a specific country.F) D) and E)
G) B) and D)

Question 8

A firm's profit potential and control over marketing activities increases as it moves from exporting to direct investment as a globe market-entry strategy.But so does the firm's

Accepted Answer

A)  likelihood of long-term success.
B)  financial commitment and risk.
C)  vulnerability to political changes and doctrines.
D)  need for a more educated workforce.
E)  need for a larger workforce.F) A) and B)
G) D) and E)

Question 9

Fluctuations in __________ among the world's currencies have direct impact on the sales and profits made by global companies.

Accepted Answer

A)  immigration
B)  transportation
C)  reciprocity
D)  exchange rates
E)  equityF) C) and D)
G) A) and E)

Question 10

Many changes influenced the opportunities for global sales of Breathe Right strips.These include increased availability of OTC products formerly available only by prescription, a global push toward self-care, spurred by increasing cost of medical care, extension of OTC products beyond the pharmacy and into grocery and other channels, and even

Accepted Answer

A)  an increase in pollution resulting in a larger number of people suffering from allergies, who would benefit from the product.
B)  a heightened interest in products considered to be "quick fixes."
C)  a distrust of the formal medical community and a desire for self-healing alternatives.
D)  an expansion of the pharmacist role from that of medical professional to selling and marketing OTC products.
E)  a desire to avoid invasive procedures or medications.F) C) and E)
G) B) and E)

Question 11

In German, the word "Schuld" which means credit is the same as the German word for __________.

Accepted Answer

A)  wealth
B)  desire
C)  fear
D)  dreams
E)  guiltF) C) and D)
G) A) and B)

Question 12

FIGURE 7-4 
-The Eiffel Tower in France and the Parthenon in Greece shown above in Figure 7-4, evoke strong feelings from consumers within these respective countries.As a result, marketers must be mindful in accessing the meaning of these __________ to consumers of a specific country.

Accepted Answer

A)  symbols
B)  secret codes
C)  back translations
D)  semantic symbolisms
E)  linguistic exchangesF) A) and B)
G) B) and D)

Question 13

FIGURE 7-8 
-173 According to Figure 7-8 above, cell "C" 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 B)

Question 14

Global consumers refer to

Accepted Answer

A)  consumer groups living in many countries or regions of the world that have similar needs or seek similar features and benefits from products or services.
B)  customers within a nation who consider the entire globe their personal marketplace basing their purchases on product value.
C)  all potential consumers for any and all products or services regardless of cultural, ethnic, or national origins.
D)  consumer groups living in many countries or regions of the world that have similar needs but seek customized features and benefits, from products or services that reflect their individual cultures.
E)  multinational organizations whose products incorporate raw materials, assembly, and distribution contributions from multiple nations before they go to market.F) A) and C)
G) B) and D)

Question 15

Based on a study of 6,500 teens in 26 countries, when asked what country had the most influence on their attitudes and purchase behavior, 54 percent of teens from the United States, 87 percent of those from Latin America, and 80 percent of the Europeans, and 80 percent of those from Asia named

Accepted Answer

A)  the United States.
B)  the United Kingdom.
C)  Japan.
D)  France.
E)  Russia.F) A) and D)
G) C) and D)

Question 16

Dell established its company primarily with direct telephone-and Internet-based sales.In terms of Dell's global expansion strategy, which of the following statements is most accurate?

Accepted Answer

A)  Dell will sell its computers in "traveling" stores: custom-made trailers with solar energy panels that will allow them to reach remote marketplaces.
B)  Dell will partner with each country's largest department stores and sell its computers in the small appliance department.
C)  Dell will issue their own credit card through multi-national banks making it possible for customers who would not normally qualify for credit, to do so.
D)  Dell will distribute its products through electronics retailers to reach more buyers quickly.
E)  Dell will maintain the exact same strategies that brought them this far; they see no reason to "mess with success."F) A) and D)
G) A) and E)

Question 17

In terms of the global marketplace there are three primary types of companies: international firms, __________ firms, and transnational firms.

Accepted Answer

A)  large-scale
B)  conglomerate
C)  intercontinental
D)  cosmopolitan
E)  multinationalF) A) and B)
G) D) and E)

Question 18

A restriction placed on the amount of a product allowed to enter or leave a country is referred to as a

Accepted Answer

A)  quota.
B)  tariff.
C)  GATT tax.
D)  restrictive tax.
E)  foreign excise tax.F) A) and D)
G) A) and C)

Question 19

Discuss this statement."A signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.

Accepted Answer

This statement indicates that the U.S.Tr...

Question 20

U.S citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because

Accepted Answer

A)  both countries have suffered major financial crises due to a severe trade imbalance.
B)  both these countries have imposed tariffs on these goods to protect their domestic markets.
C)  both countries have imposed limits on the quantity of these goods leaving the domestic market.
D)  both products are considered essentials and as a result are more heavily taxed.
E)  previously these products were purchased at a lower price from nations that currently are under governmental sanctions.F) C) and E)
G) A) and B)

Exam 7: Understanding and Reaching Global Consumers and Markets

In terms of the global marketplace there are three primary types of companies: international firms, __________ firms, and transnational firms.

Correct Answer
verified

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

Correct Answer
verified

A restriction placed on the amount of a product allowed to enter or leave a country is referred to as a

Correct Answer
verified

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

Correct Answer
verified

FIGURE 7-4 -The Eiffel Tower in France and the Parthenon in Greece shown above in Figure 7-4, evoke strong feelings from consumers within these respective countries.As a result, marketers must be mindful in accessing the meaning of these __________ to consumers of a specific country.

Correct Answer
verified

Fluctuations in __________ among the world's currencies have direct impact on the sales and profits made by global companies.

Correct Answer
verified

Based on a study of 6,500 teens in 26 countries, when asked what country had the most influence on their attitudes and purchase behavior, 54 percent of teens from the United States, 87 percent of those from Latin America, and 80 percent of the Europeans, and 80 percent of those from Asia named

Correct Answer
verified

Customs refer to

Correct Answer
verified

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

Correct Answer
verified

In German, the word "Schuld" which means credit is the same as the German word for __________.

Correct Answer
verified

A firm's profit potential and control over marketing activities increases as it moves from exporting to direct investment as a globe market-entry strategy.But so does the firm's

Correct Answer
verified

U.S citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Multidomestic marketing strategy refers to

Correct Answer
verified

The __________ arrangement between Ericsson, a Swedish telecommunications firm, and CGCT, a French switch maker, enabled them together to beat out AT&T for a $100 million French contract.

Correct Answer
verified

FIGURE 7-8 -173 According to Figure 7-8 above, cell "C" refers to which type of product and promotion strategy?

Correct Answer
verified

Discuss this statement."A signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.

Correct Answer
verified
This statement indicates that the U.S.Tr...
View Answer

Global consumers refer to

Correct Answer
verified

Dell established its company primarily with direct telephone-and Internet-based sales.In terms of Dell's global expansion strategy, which of the following statements is most accurate?

Correct Answer
verified

Exam 7: Understanding and Reaching Global Consumers and Markets

In terms of the global marketplace there are three primary types of companies: international firms, __________ firms, and transnational firms.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A restriction placed on the amount of a product allowed to enter or leave a country is referred to as a

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

FIGURE 7-4 -The Eiffel Tower in France and the Parthenon in Greece shown above in Figure 7-4, evoke strong feelings from consumers within these respective countries.As a result, marketers must be mindful in accessing the meaning of these __________ to consumers of a specific country.

Correct AnswerverifiedShow Answer

Fluctuations in __________ among the world's currencies have direct impact on the sales and profits made by global companies.

Correct AnswerverifiedShow Answer

Based on a study of 6,500 teens in 26 countries, when asked what country had the most influence on their attitudes and purchase behavior, 54 percent of teens from the United States, 87 percent of those from Latin America, and 80 percent of the Europeans, and 80 percent of those from Asia named

Correct AnswerverifiedShow Answer

Customs refer to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In German, the word "Schuld" which means credit is the same as the German word for __________.

Correct AnswerverifiedShow Answer

A firm's profit potential and control over marketing activities increases as it moves from exporting to direct investment as a globe market-entry strategy.But so does the firm's

Correct AnswerverifiedShow Answer

U.S citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Multidomestic marketing strategy refers to

Correct AnswerverifiedShow Answer

The __________ arrangement between Ericsson, a Swedish telecommunications firm, and CGCT, a French switch maker, enabled them together to beat out AT&T for a $100 million French contract.

Correct AnswerverifiedShow Answer

FIGURE 7-8 -173 According to Figure 7-8 above, cell "C" refers to which type of product and promotion strategy?

Correct AnswerverifiedShow Answer

Discuss this statement."A signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.

Correct AnswerverifiedThis statement indicates that the U.S.Tr...View AnswerShow Answer

Global consumers refer to

Correct AnswerverifiedShow Answer

Dell established its company primarily with direct telephone-and Internet-based sales.In terms of Dell's global expansion strategy, which of the following statements is most accurate?

Correct AnswerverifiedShow Answer

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This statement indicates that the U.S.Tr...
View Answer

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