Question 1

Chrysler Corporation 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 ¥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) D) and E)
G) None of the above

Question 2

Figure 7-7
-Figure 7-7 above outlines the distribution channels through which a product manufactured in one country must travel to reach its destination in another country."B" represents the

Accepted Answer

A)   channels within foreign nations.
B)   channels between nations.
C)   seller's international marketing headquarters.
D)   political forces.
E)   final consumer.F) B) and C)
G) A) and E)

Question 3

Which of the following is most accurate in regards to the Asian free trade agreements?

Accepted Answer

A)   Efforts to liberalize trade in East Asia have decreased as a result of the economic downturn in 2009.
B)   Asian free trade agreements are based on ethnicity rather than geographical borders.
C)   Asian free trade agreements encourage the formation of multinational corporations.
D)   Asian free trade agreements recently include India and China.
E)   Asian free trade agreements have reduced tariffs among countries and promoted trade.F) B) and D)
G) C) and D)

Question 4

Which of the following statements accurately describes the global perspective on world trade?

Accepted Answer

A)   Exports are of significantly greater importance than imports.
B)   Imports are of significantly greater importance than exports.
C)   Imports and exports should be complementary economic flows: a country's imports affect its exports and exports affect its imports.
D)   Exports and imports should always be kept in a state of equilibrium.
E)   Imports and exports should be controlled through extensive use of international tariffs, quotas, and other trade regulations.F) B) and C)
G) A) and C)

Question 5

Company executives were perplexed when the company's Scotch-Brite floor-cleaning product initially produced lukewarm sales in the Philippines.A Filipino employee explained that consumers generally clean floors by pushing coconut shells around with their feet.3M changed the shape of the pad to a foot and sales soared.3M changed its product in response to a Filipino __________.

Accepted Answer

A)   value
B)   belief
C)   custom
D)   idiosyncrasy
E)   demographic patternF) D) and E)
G) A) and B)

Question 6

Latvia,only one six-lane highway connects Riga with Moscow.Otherwise,the roads are two-lane and many are made of cobblestones or bricks.This limits the speed with which deliveries can be made and means that delivery trucks must be quite small.The road network in Latvia is an example of its

Accepted Answer

A)   capital infrastructure.
B)   political infrastructure.
C)   economic infrastructure.
D)   geopolitical network.
E)   ecosystem.F) B) and C)
G) A) and E)

Question 7

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

Accepted Answer

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

Question 8

Which of the following is a disadvantage associated with licensing?

Accepted Answer

A)   The licensor has lower wages and prices.
B)   The licensor may create its own competition.
C)   The licensor has increased profit potential.
D)   The licensor has complete control of the product.
E)   The firm's reputation is improved if it selects a poor choice as a licensee.F) D) and E)
G) A) and E)

Question 9

Global companies have five strategies for matching products and their promotion efforts to global markets.The strategy of selling virtually the same product in other countries is referred to as

Accepted Answer

A)   product adaptation.
B)   product invention.
C)   brand adaptation.
D)   product extension.
E)   product integration.F) None of the above
G) C) and E)

Question 10

Although Russia now has a free economy,there are still some problems with its financial and legal systems as well as with the notion of

Accepted Answer

A)   private property.
B)   product promotion.
C)   paid advertising.
D)   community property.
E)   foreign exchange rates.F) B) and C)
G) D) and E)

Question 11

trends in the past decade have significantly influenced the landscape of global marketing.One of them is:

Accepted Answer

A)   an increase in economic protectionism and a decline in free trade.
B)   a more aggressive attitude towards initiating international tariffs and quota systems.
C)   a decrease in most countries' GDPs and a renewal of nationalism.
D)   global competition among global companies for global customers.
E)   an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism.F) A) and C)
G) A) and D)

Question 12

Direct investment in international marketing 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)   a national market-entry strategy that entails a foreign company and a local firm investing together to create a local business.
D)   having a company handle its own exports directly, without intermediaries.
E)   a global market-entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or division.F) A) and B)
G) None of the above

Question 13

circumvent competing with Japanese firms through their traditional channel of distribution,Fran Wilson Creative Cosmetics Moodmatcher lip coloring is sold in which type of retail venue?

Accepted Answer

A)   grocery stores
B)   flower shops
C)   beauty salons
D)   department stores
E)   gift storesF) A) and B)
G) None of the above

Question 14

Companies that use a(n) ___________ marketing strategy have as many different product variations,brand names,and advertising programs as countries in which they do business.

Accepted Answer

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

Question 15

Since global marketing is affected by economic considerations,a scan of the global marketplace should include this factor:

Accepted Answer

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

Question 16

Since global marketing is affected by economic considerations,a scan of the global marketplace should include this factor:

Accepted Answer

A)   an analysis of cultural diversity within the country under consideration.
B)   regulatory constraints regarding contracts, mergers, and partnerships.
C)   an assessment of language differences including dialect variation.
D)   a comparative analysis of the economic development in different countries.
E)   political and ideological differences between the countries involved.F) D) and E)
G) C) and E)

Question 17

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

Accepted Answer

A)   boycotts
B)   tariffs
C)   quotas
D)   sanctions
E)   subsidiesF) B) and E)
G) All of the above

Question 18

recent years,a number of countries with similar economic goals have formed transnational trade groups or signed trade agreements for the purpose of promoting free trade.Describe the best-known three.

Accepted Answer

(1)The European Union (EU)in mid-2012 co...

Question 19

World Trade Organization (WTO) refers to

Accepted Answer

A)   the world's largest banking institution responsible for establishing and maintaining equitable exchange rates for all member nations.
B)   the world's largest licensing institution responsible for the certification of products distributed to a global market.
C)   a permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions.
D)   a multinational trade organization composed of the world's wealthiest nations whose primary purpose is to aid in the economic growth of developing nations.
E)   a multinational trade organization comprised of the world's wealthiest nations whose primary purpose is to promote free trade economies.F) A) and E)
G) C) and D)

Question 20

Consumer ethnocentrism refers to

Accepted Answer

A)   the belief that all products that are foreign made are cheap and of poor quality.
B)   the belief that one should only purchase made by indigenous people groups in developing countries.
C)   the belief that all corporations are corrupt and consumers must look out for themselves.
D)   the tendency to believe that the only products that are of true quality are those that are manufactured in one's own country.
E)   the tendency to believe it is inappropriate, indeed immoral, to purchase a foreign-made product.F) A) and E)
G) C) and D)

Exam 7: Understanding and Reaching Global Consumers and Markets

Chrysler Corporation 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 ¥31,000 Japanese yen,and the Japanese could not afford to buy it.Its price was set without regard for the

Correct Answer
verified

Companies that use a(n) ___________ marketing strategy have as many different product variations,brand names,and advertising programs as countries in which they do business.

Correct Answer
verified

recent years,a number of countries with similar economic goals have formed transnational trade groups or signed trade agreements for the purpose of promoting free trade.Describe the best-known three.

Correct Answer
verified
(1)The European Union (EU)in mid-2012 co...
View Answer

Correct Answer
verified

Although Russia now has a free economy,there are still some problems with its financial and legal systems as well as with the notion of

Correct Answer
verified

trends in the past decade have significantly influenced the landscape of global marketing.One of them is:

Correct Answer
verified

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

Correct Answer
verified

Which of the following statements accurately describes the global perspective on world trade?

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

Since global marketing is affected by economic considerations,a scan of the global marketplace should include this factor:

Correct Answer
verified

Latvia,only one six-lane highway connects Riga with Moscow.Otherwise,the roads are two-lane and many are made of cobblestones or bricks.This limits the speed with which deliveries can be made and means that delivery trucks must be quite small.The road network in Latvia is an example of its

Correct Answer
verified

Which of the following is most accurate in regards to the Asian free trade agreements?

Correct Answer
verified

World Trade Organization (WTO) refers to

Correct Answer
verified

Global companies have five strategies for matching products and their promotion efforts to global markets.The strategy of selling virtually the same product in other countries is referred to as

Correct Answer
verified

circumvent competing with Japanese firms through their traditional channel of distribution,Fran Wilson Creative Cosmetics Moodmatcher lip coloring is sold in which type of retail venue?

Correct Answer
verified

Which of the following is a disadvantage associated with licensing?

Correct Answer
verified

Consumer ethnocentrism refers to

Correct Answer
verified

Figure 7-7 -Figure 7-7 above outlines the distribution channels through which a product manufactured in one country must travel to reach its destination in another country."B" represents the

Correct Answer
verified

Since global marketing is affected by economic considerations,a scan of the global marketplace should include this factor:

Correct Answer
verified

Direct investment in international marketing refers to

Correct Answer
verified

Exam 7: Understanding and Reaching Global Consumers and Markets

Chrysler Corporation 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 ¥31,000 Japanese yen,and the Japanese could not afford to buy it.Its price was set without regard for the

Correct AnswerverifiedShow Answer

Companies that use a(n) ___________ marketing strategy have as many different product variations,brand names,and advertising programs as countries in which they do business.

Correct AnswerverifiedShow Answer

recent years,a number of countries with similar economic goals have formed transnational trade groups or signed trade agreements for the purpose of promoting free trade.Describe the best-known three.

Correct Answerverified(1)The European Union (EU)in mid-2012 co...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Although Russia now has a free economy,there are still some problems with its financial and legal systems as well as with the notion of

Correct AnswerverifiedShow Answer

trends in the past decade have significantly influenced the landscape of global marketing.One of them is:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements accurately describes the global perspective on world trade?

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

Since global marketing is affected by economic considerations,a scan of the global marketplace should include this factor:

Correct AnswerverifiedShow Answer

Latvia,only one six-lane highway connects Riga with Moscow.Otherwise,the roads are two-lane and many are made of cobblestones or bricks.This limits the speed with which deliveries can be made and means that delivery trucks must be quite small.The road network in Latvia is an example of its

Correct AnswerverifiedShow Answer

Which of the following is most accurate in regards to the Asian free trade agreements?

Correct AnswerverifiedShow Answer

World Trade Organization (WTO) refers to

Correct AnswerverifiedShow Answer

Global companies have five strategies for matching products and their promotion efforts to global markets.The strategy of selling virtually the same product in other countries is referred to as

Correct AnswerverifiedShow Answer

circumvent competing with Japanese firms through their traditional channel of distribution,Fran Wilson Creative Cosmetics Moodmatcher lip coloring is sold in which type of retail venue?

Correct AnswerverifiedShow Answer

Which of the following is a disadvantage associated with licensing?

Correct AnswerverifiedShow Answer

Consumer ethnocentrism refers to

Correct AnswerverifiedShow Answer

Figure 7-7 -Figure 7-7 above outlines the distribution channels through which a product manufactured in one country must travel to reach its destination in another country."B" represents the

Correct AnswerverifiedShow Answer

Since global marketing is affected by economic considerations,a scan of the global marketplace should include this factor:

Correct AnswerverifiedShow Answer

Direct investment in international marketing refers to

Correct AnswerverifiedShow Answer

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(1)The European Union (EU)in mid-2012 co...
View Answer

Correct Answer
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