Question 1

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

Accepted Answer

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

Question 2

The PRS Group maintains a website that can be used to determine

Accepted Answer

A)  changing demographic and psychographic data for each country in the registry.
B)  a country's political risk ratings using multiple databases of country-specific information.
C)  the tariffs of each country and their relative effect on product and services sales.
D)  the rankings of American products relative to domestic equivalents in each country.
E)  changing social trends within different segments of the economy.F) B) and C)
G) C) and D)

Question 3

Consider the distribution channels through which a product manufactured in one country must travel to reach its destination in another country. The step that is the channel between two nations, moving the product from one country to another, is the

Accepted Answer

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

Question 4

When a firm sells a product in a foreign country below its domestic price or below its actual cost, the practice is referred to as

Accepted Answer

A)  loss-leader pricing.
B)  surplus marketing.
C)  dumping.
D)  second-market pricing.
E)  entrepreneurial pricing.F) All of the above
G) A) and E)

Question 5

Trade among nations or regions depends on political stability. In recent times, billions of dollars have been lost in __________ and __________ as a result of internal political strife, terrorism, and war.

Accepted Answer

A)  Russia; Poland
B)  France; Spain
C)  China; Japan
D)  the Middle East; Africa
E)  Germany; the United KingdomF) A) and E)
G) D) and E)

Question 6

Which of the following issues raises concerns about the ethics of protectionism?

Accepted Answer

A)  Competitive advantage grows out of continuous improvement.
B)  Small firms succeed in foreign niche markets.
C)  Tariffs have declined from an average of 40 percent to less than 5 percent.
D)  Regional trade agreements may provide preferential treatment for member nations.
E)  Pan-European marketing strategies are possible due to greater uniformity in packaging standards.F) B) and D)
G) C) and D)

Question 7

A(n)  __________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than differences.

Accepted Answer

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

Question 8

All of the following are advantages of licensing except

Accepted Answer

A)  the foreign country gains employment by having the product manufactured locally.
B)  the licensee gains information that allows it to start with a competitive advantage.
C)  the low risk to the company granting the license.
D)  the licensor's brand name can never be harmed as a result of the licensee.
E)  the capital-free entry into a foreign country.F) C) and D)
G) D) and E)

Question 9

Describe the World Trade Organization (WTO) and its purpose.

Accepted Answer

The World Trade Organization (WTO) was f...

Question 10

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 11

One advantage of direct investment when entering a new global market is that

Accepted Answer

A)  intermediaries have the potential to harm the brand.
B)  the firm entering the foreign market does not have to pay royalties to the government.
C)  the company forgoes control over its product.
D)  the firm gains and uses a better understanding of local market conditions.
E)  this method is likely to provide the fewest subsidies from the host country's government.F) B) and C)
G) None of the above

Question 12

Which of the following statements about global brands is most accurate?

Accepted Answer

A)  A global brand has centrally coordinated marketing programs.
B)  A global brand is marketed under different names but uses identical ads for all markets.
C)  A global brand alters the product formulation or service for each geographical region.
D)  A global brand delivers multiple benefits based on the GDP of each country.
E)  A global brand is a collaborative effort among several different national firms.F) A) and B)
G) B) and E)

Question 13

Global companies have five strategies for matching products and their promotion efforts to global markets. Designing a product to serve the unmet needs of a foreign nation is 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 integrationF) B) and C)
G) B) and E)

Question 14

The prescribed penalty for agents of foreign governments found guilty of economic espionage is

Accepted Answer

A)  up to 15 years in prison and fines up to $500,000.
B)  life in prison with the possibility of parole after 25 years.
C)  25 years in prison and a $10 million fine.
D)  permanent expulsion from the United States.
E)  30 years in prison and fines proportional to the damage caused.F) B) and D)
G) B) and C)

Question 15

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

Question 16

Whirlpool asked the United States to impose __________ on washing machine imports made by LG Electronics and Samsung Electronics, both South Korean companies, to raise the price of these products. Whirlpool accused these companies of selling below fair market value and receiving anticompetitive export subsidies from their governments, both of which could jeopardize American jobs.

Accepted Answer

A)  boycotts
B)  quotas
C)  sanctions
D)  tariffs
E)  embargoesF) A) and E)
G) A) and D)

Question 17

Government taxes on products or services entering a country that primarily serve to raise prices on imports are referred to as

Accepted Answer

A)  tariffs.
B)  quotas.
C)  WTO taxes.
D)  foreign excise taxes.
E)  trade subsidies.F) A) and D)
G) C) and D)

Question 18

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, 80 percent of the Europeans, and 80 percent of those from Asia named

Accepted Answer

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

Question 19

A multidomestic marketing strategy refers to

Accepted Answer

A)  the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
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 used by firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.
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.
E)  the strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation.F) A) and D)
G) B) and C)

Question 20

Explain the trade feedback effect.

Accepted Answer

Increased demand for exports of other na...

Exam 7: Understanding and Reaching Global Consumers and Markets

Describe the World Trade Organization (WTO) and its purpose.

Correct Answer
verified
The World Trade Organization (WTO) was f...
View Answer

A multidomestic marketing strategy refers to

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, 80 percent of the Europeans, and 80 percent of those from Asia named

Correct Answer
verified

One advantage of direct investment when entering a new global market is that

Correct Answer
verified

Which of the following statements about global brands is most accurate?

Correct Answer
verified

All of the following are advantages of licensing except

Correct Answer
verified

Consider the distribution channels through which a product manufactured in one country must travel to reach its destination in another country. The step that is the channel between two nations, moving the product from one country to another, is the

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 PRS Group maintains a website that can be used to determine

Correct Answer
verified

Government taxes on products or services entering a country that primarily serve to raise prices on imports are referred to as

Correct Answer
verified

Trade among nations or regions depends on political stability. In recent times, billions of dollars have been lost in and as a result of internal political strife, terrorism, and war.

Correct Answer
verified

Global companies have five strategies for matching products and their promotion efforts to global markets. Designing a product to serve the unmet needs of a foreign nation is which type of global marketing product and promotion strategy?

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

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

Correct Answer
verified

Which of the following issues raises concerns about the ethics of protectionism?

Correct Answer
verified

The prescribed penalty for agents of foreign governments found guilty of economic espionage is

Correct Answer
verified

Explain the trade feedback effect.

Correct Answer
verified
Increased demand for exports of other na...
View Answer

A(n) __________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than differences.

Correct Answer
verified

When a firm sells a product in a foreign country below its domestic price or below its actual cost, the practice is referred to as

Correct Answer
verified

Exam 7: Understanding and Reaching Global Consumers and Markets

Describe the World Trade Organization (WTO) and its purpose.

Correct AnswerverifiedThe World Trade Organization (WTO) was f...View AnswerShow Answer

A multidomestic marketing strategy refers to

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, 80 percent of the Europeans, and 80 percent of those from Asia named

Correct AnswerverifiedShow Answer

One advantage of direct investment when entering a new global market is that

Correct AnswerverifiedShow Answer

Which of the following statements about global brands is most accurate?

Correct AnswerverifiedShow Answer

All of the following are advantages of licensing except

Correct AnswerverifiedShow Answer

Consider the distribution channels through which a product manufactured in one country must travel to reach its destination in another country. The step that is the channel between two nations, moving the product from one country to another, is the

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 PRS Group maintains a website that can be used to determine

Correct AnswerverifiedShow Answer

Government taxes on products or services entering a country that primarily serve to raise prices on imports are referred to as

Correct AnswerverifiedShow Answer

Trade among nations or regions depends on political stability. In recent times, billions of dollars have been lost in __________ and __________ as a result of internal political strife, terrorism, and war.

Correct AnswerverifiedShow Answer

Global companies have five strategies for matching products and their promotion efforts to global markets. Designing a product to serve the unmet needs of a foreign nation is which type of global marketing product and promotion strategy?

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

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

Correct AnswerverifiedShow Answer

Which of the following issues raises concerns about the ethics of protectionism?

Correct AnswerverifiedShow Answer

The prescribed penalty for agents of foreign governments found guilty of economic espionage is

Correct AnswerverifiedShow Answer

Explain the trade feedback effect.

Correct AnswerverifiedIncreased demand for exports of other na...View AnswerShow Answer

A(n) __________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than differences.

Correct AnswerverifiedShow Answer

When a firm sells a product in a foreign country below its domestic price or below its actual cost, the practice is referred to as

Correct AnswerverifiedShow Answer

Correct Answer
verified
The World Trade Organization (WTO) was f...
View Answer

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

Correct Answer
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Correct Answer
verified

Trade among nations or regions depends on political stability. In recent times, billions of dollars have been lost in and as a result of internal political strife, terrorism, and war.

Correct Answer
verified

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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Correct Answer
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Increased demand for exports of other na...
View Answer

Correct Answer
verified

Correct Answer
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