Question 1

The law,as amended by the International Anti-Dumping and Fair Competition Act,that makes it a crime for U.S.corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country,is referred to as the

Accepted Answer

A)   International Law for Egalitarian Ethics Act.
B)   International Fair Practices Act.
C)   Law of International Equity Act.
D)   International Law of Ethical Business Practices Act.
E)   Foreign Corrupt Practices Act.

Question 2

What are the market entry strategy options available to a company seeking to enter the global marketplace?
 How do they relate to each other in terms of profit potential,risk,financial commitment required,and marketing control?

Accepted Answer

Once a company has decided to enter the ...

Question 3

KFC has created many offerings for its menus in China to appeal to local tastes,including the "Dragon Twister," which is a chicken wrap with Peking-duck sauce.This is an example of which type of global marketing product and promotion strategy?

Accepted Answer

A)   product extension
B)   product customization
C)   product adaptation
D)   product invention
E)   product integration

Question 4

Around the world,middle-class,youth,and elite markets that consume similar assortments of products and services,regardless of geographic location,are referred to as

Accepted Answer

A)   transnational consumers.
B)   meganational consumers.
C)   international consumers.
D)   multinational consumers.
E)   global consumers.

Question 5

If your primary motive was to raise prices on imports,would you use tariffs or quotas?
 Why would you want to do this?

Accepted Answer

If your primary motive was to raise pric...

Question 6

Which of the following is a disadvantage associated with licensing?

Accepted Answer

A)   The licensee pays lower wages and sells at lower prices.
B)   The licensor may create its own competition.
C)   The foreign government dislikes it because it does not increase local employment.
D)   This is the most expensive and risky method for global expansion.
E)   The firm's brand does not get international exposure.

Question 7

The __________ imposed on imported bananas by European Union countries cost consumers $2 billion a year in higher prices.

Accepted Answer

A)   boycotts
B)   quotas
C)   sanctions
D)   subsidies
E)   tariffs

Question 8

The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis; most tariffs that affect pricing practices have been removed; and

Accepted Answer

A)   there is a legally binding code of economic conduct.
B)   there is immunity against world recessions.
C)   there are fewer regulatory restrictions on transportation, advertising, and promotion.
D)   there is a common language advantage among EU consumers.
E)   most companies within the EU are engaging in strategic global partnerships.

Question 9

What global market entry strategy did Mary Kay use when it entered India?

Accepted Answer

A)   direct importing
B)   licensing
C)   indirect exporting
D)   joint venture
E)   direct exporting

Question 10

Explain the difference between joint venture and direct investment market entry strategies.What are the advantages and disadvantages of each approach?

Accepted Answer

When a foreign company and a local firm ...

Question 11

What are the product and promotion strategies available to a company seeking to enter the global marketplace?
 How do they relate to each other in terms of the same or adapted product and promotion?

Accepted Answer

There are five global marketing product ...

Question 12

Since global marketing is affected by economic considerations,a scan of the global marketplace should include which of the following factors?

Accepted Answer

A)   an analysis of cultural diversity within the country under consideration
B)   regulatory constraints regarding contracts, mergers, and partnerships
C)   measurement of consumer income in different countries
D)   an assessment of language differences including dialect variation
E)   political and ideological differences between the countries involved

Question 13

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,define cross-cultural analysis.

Accepted Answer

Cross-cultural analysis involves the stu...

Question 14

Russia currently has a limit on pork of 400,000 metric tons annually that can be imported from any country.This restriction would be considered a

Accepted Answer

A)   tariff.
B)   trade imbalance.
C)   excise tax.
D)   quota.
E)   subsidy.

Question 15

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

Accepted Answer

A)   direct exporting
B)   licensing
C)   indirect exporting
D)   joint venture
E)   cooperative partnership

Question 16

The U.S.Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering __________,lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Accepted Answer

A)   boycotts
B)   quotas
C)   sanctions
D)   tariffs
E)   subsidies

Question 17

The Malaysian government recently exchanged 20,000 tons of rice for an equivalent amount of Philippine corn.This transaction is an example of a

Accepted Answer

A)   countertrade.
B)   competitive advantage.
C)   balance of trade.
D)   quota.
E)   trade feedback.

Question 18

Once a company has decided to enter the global marketplace,it must select a means of market entry.One of the four general options is

Accepted Answer

A)   franchising.
B)   joint venture.
C)   cooperative.
D)   multiparty initiative.
E)   mutual investment.

Question 19

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 relative to the price of silver.
C)   the ratio of a nation's basic unit of currency relative to the price 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.

Question 20

The North American Free Trade Agreement was designed to encourage free trade between

Accepted Answer

A)   North America, Central America, and South America.
B)   the United States and the European Union.
C)   member countries originally from NATO (North Atlantic Treaty Organization) .
D)   the United States, Canada, and Mexico.
E)   the United States, Canada, and the United Kingdom.

Exam 6: Understanding and Reaching Global Consumers and Markets

Once a company has decided to enter the global marketplace,it must select a means of market entry.One of the four general options is

Correct Answer
verified

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,define cross-cultural analysis.

Correct Answer
verified
Cross-cultural analysis involves the stu...
View Answer

The U.S.Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering __________,lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Correct Answer
verified

The North American Free Trade Agreement was designed to encourage free trade between

Correct Answer
verified

Which of the following is a disadvantage associated with licensing?

Correct Answer
verified

Explain the difference between joint venture and direct investment market entry strategies.What are the advantages and disadvantages of each approach?

Correct Answer
verified
When a foreign company and a local firm ...
View Answer

Around the world,middle-class,youth,and elite markets that consume similar assortments of products and services,regardless of geographic location,are referred to as

Correct Answer
verified

The Malaysian government recently exchanged 20,000 tons of rice for an equivalent amount of Philippine corn.This transaction is an example of a

Correct Answer
verified

The law,as amended by the International Anti-Dumping and Fair Competition Act,that makes it a crime for U.S.corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country,is referred to as the

Correct Answer
verified

KFC has created many offerings for its menus in China to appeal to local tastes,including the "Dragon Twister," which is a chicken wrap with Peking-duck sauce.This is an example of which type of global marketing product and promotion strategy?

Correct Answer
verified

What are the market entry strategy options available to a company seeking to enter the global marketplace? How do they relate to each other in terms of profit potential,risk,financial commitment required,and marketing control?

Correct Answer
verified
Once a company has decided to enter the ...
View Answer

Currency exchange rate refers to

Correct Answer
verified

Russia currently has a limit on pork of 400,000 metric tons annually that can be imported from any country.This restriction would be considered a

Correct Answer
verified

What global market entry strategy did Mary Kay use when it entered India?

Correct Answer
verified

Since global marketing is affected by economic considerations,a scan of the global marketplace should include which of the following factors?

Correct Answer
verified

The __________ imposed on imported bananas by European Union countries cost consumers $2 billion a year in higher prices.

Correct Answer
verified

What are the product and promotion strategies available to a company seeking to enter the global marketplace? How do they relate to each other in terms of the same or adapted product and promotion?

Correct Answer
verified
There are five global marketing product ...
View Answer

The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis; most tariffs that affect pricing practices have been removed; and

Correct Answer
verified

Correct Answer
verified

If your primary motive was to raise prices on imports,would you use tariffs or quotas? Why would you want to do this?

Correct Answer
verified
If your primary motive was to raise pric...
View Answer

Exam 6: Understanding and Reaching Global Consumers and Markets

Once a company has decided to enter the global marketplace,it must select a means of market entry.One of the four general options is

Correct AnswerverifiedShow Answer

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,define cross-cultural analysis.

Correct AnswerverifiedCross-cultural analysis involves the stu...View AnswerShow Answer

The U.S.Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering __________,lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Correct AnswerverifiedShow Answer

The North American Free Trade Agreement was designed to encourage free trade between

Correct AnswerverifiedShow Answer

Which of the following is a disadvantage associated with licensing?

Correct AnswerverifiedShow Answer

Explain the difference between joint venture and direct investment market entry strategies.What are the advantages and disadvantages of each approach?

Correct AnswerverifiedWhen a foreign company and a local firm ...View AnswerShow Answer

Around the world,middle-class,youth,and elite markets that consume similar assortments of products and services,regardless of geographic location,are referred to as

Correct AnswerverifiedShow Answer

The Malaysian government recently exchanged 20,000 tons of rice for an equivalent amount of Philippine corn.This transaction is an example of a

Correct AnswerverifiedShow Answer

The law,as amended by the International Anti-Dumping and Fair Competition Act,that makes it a crime for U.S.corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country,is referred to as the

Correct AnswerverifiedShow Answer

KFC has created many offerings for its menus in China to appeal to local tastes,including the "Dragon Twister," which is a chicken wrap with Peking-duck sauce.This is an example of which type of global marketing product and promotion strategy?

Correct AnswerverifiedShow Answer

What are the market entry strategy options available to a company seeking to enter the global marketplace? How do they relate to each other in terms of profit potential,risk,financial commitment required,and marketing control?

Correct AnswerverifiedOnce a company has decided to enter the ...View AnswerShow Answer

Currency exchange rate refers to

Correct AnswerverifiedShow Answer

Russia currently has a limit on pork of 400,000 metric tons annually that can be imported from any country.This restriction would be considered a

Correct AnswerverifiedShow Answer

What global market entry strategy did Mary Kay use when it entered India?

Correct AnswerverifiedShow Answer

Since global marketing is affected by economic considerations,a scan of the global marketplace should include which of the following factors?

Correct AnswerverifiedShow Answer

The __________ imposed on imported bananas by European Union countries cost consumers $2 billion a year in higher prices.

Correct AnswerverifiedShow Answer

What are the product and promotion strategies available to a company seeking to enter the global marketplace? How do they relate to each other in terms of the same or adapted product and promotion?

Correct AnswerverifiedThere are five global marketing product ...View AnswerShow Answer

The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis; most tariffs that affect pricing practices have been removed; and

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

If your primary motive was to raise prices on imports,would you use tariffs or quotas? Why would you want to do this?

Correct AnswerverifiedIf your primary motive was to raise pric...View AnswerShow Answer

Correct Answer
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Correct Answer
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Cross-cultural analysis involves the stu...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified
When a foreign company and a local firm ...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Once a company has decided to enter the ...
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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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There are five global marketing product ...
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Correct Answer
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Correct Answer
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If your primary motive was to raise pric...
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