Question 1

A field of study that examines the correspondence between symbols and their role in the assignment of meaning for people is referred to as

Accepted Answer

A)  back translation.
B)  symbiotics.
C)  semiotics.
D)  symbolic linguistics.
E)  cross-cultural analysis.F) None of the above
G) C) and D)

Question 2

Which of the following types of firms would be most likely to use a global marketing strategy?

Accepted Answer

A)  multidomestic
B)  multinational
C)  multicountry
D)  transnational
E)  transborderF) None of the above
G) All of the above

Question 3

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

Accepted Answer

A)  direct exporting
B)  indirect exporting
C)  licensing
D)  direct investment
E)  joint ventureF) B) and C)
G) D) and E)

Question 4

A global brand is a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs.However,adaptations of global brands are made

Accepted Answer

A)  only if required by government regulations in the host market.
B)  only in its initial introduction into a market and only until the brand is recognized.
C)  by domestic competitors causing brand confusion.
D)  only when necessary to better connect the brand to consumers in different markets.
E)  when there is a serious drop in market share.F) D) and E)
G) B) and D)

Question 5

Figure 7-5
 
-Global companies have five strategies for matching products and their promotion efforts to global markets.According to Figure 7-5 above,B refers to which type of strategy?

Accepted Answer

A)  product extension strategy
B)  communication adaptation strategy
C)  product adaptation strategy
D)  dual adaptation strategy
E)  product invention strategyF) D) and E)
G) A) and B)

Question 6

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 services.
E)  foreign exchange rates.F) B) and C)
G) A) and E)

Question 7

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) B) and D)
G) B) and C)

Question 8

One global perspective on world trade views exports and imports as complementary economic flows.Explain this concept.

Accepted Answer

A country's imports affect its exports a...

Question 9

The monetary value of all products and services produced in a country during one year is referred to as the

Accepted Answer

A)  balance of trade.
B)  gross domestic product.
C)  national monetary reserve.
D)  monetary national balance.
E)  annual national product.F) B) and E)
G) A) and B)

Question 10

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)  limit tax.
D)  quota.
E)  subsidy.F) A) and E)
G) B) and E)

Question 11

Generally,as the proportion of middle-income households in a country increases,the nation's purchasing power

Accepted Answer

A)  levels off.
B)  decreases.
C)  increases.
D)  becomes less of an economic priority.
E)  becomes progressively unstable.F) B) and D)
G) A) and B)

Question 12

A global marketer selling consumer products and services must also consider what the average per capita or ________ is among a country's consumers and how the income is distributed to determine a nation's purchasing power.

Accepted Answer

A)  buying capacity
B)  currency exchange risk
C)  purchasing power
D)  household income
E)  cost of livingF) None of the above
G) B) and D)

Question 13

Explain the difference between indirect exporting and direct exporting.What are the advantages and disadvantages of each approach?

Accepted Answer

Indirect exporting refers to a firm sell...

Question 14

Mary Kay,Inc. ,can be classified as which type of company when marketing its products around the world?

Accepted Answer

A)  multinational firm
B)  transnational firm
C)  international firm
D)  global marketing firm
E)  multidomestic firmF) B) and E)
G) A) and E)

Question 15

Recently,the United States imposed a 35 percent tariff on Chinese tire imports in the hopes of sustaining U.S.jobs in tire manufacturing.This addition of tariffs is an example of

Accepted Answer

A)  imposing the rule of eminent domain.
B)  increasing ethnocentrism.
C)  enhancing domestic imperialism.
D)  increasing protectionism.
E)  slowing countertrade.F) A) and E)
G) B) and C)

Question 16

Two-thirds of the commercial transactions in Russia involve nonmonetary forms of payment due to limits in formal operating procedures among financial institutions and even limits on the notion of private property there.These would best be described as constraints in the country's

Accepted Answer

A)  capital infrastructure.
B)  political infrastructure.
C)  economic infrastructure.
D)  geopolitical system.
E)  financial exchange system.F) B) and E)
G) A) and B)

Question 17

A global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership,control,and profits of the new company is referred to as

Accepted Answer

A)  licensing.
B)  a joint venture.
C)  direct exporting.
D)  contract assembly.
E)  dual adaptation.F) B) and D)
G) A) and B)

Question 18

In terms of the global marketplace,there are three primary types of companies: international firms,multinational firms,and transnational firms.The key factor that distinguishes one from another is

Accepted Answer

A)  the firm's financial capacity to take risks.
B)  the willingness and ability to embrace diversity and cultural differences.
C)  the firm's orientation toward and strategy for global markets and marketing.
D)  the relative position of the product or service in terms of its life cycle.
E)  the relative size of the firm both in financial terms and in production capacity.F) A) and D)
G) None of the above

Question 19

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) All of the above
G) A) and E)

Question 20

CAFTA-DR is a comprehensive free trade agreement between Costa Rica,the Dominican Republic,El Salvador,Guatemala,Honduras,Nicaragua,and

Accepted Answer

A)  the United States.
B)  Panama.
C)  Belize.
D)  Cuba.
E)  Mexico.F) B) and E)
G) D) and E)

Exam 7: Understanding and Reaching Global Consumers and Markets

A global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership,control,and profits of the new company is referred to as

Correct AnswerverifiedShow Answer

Mary Kay,Inc. ,can be classified as which type of company when marketing its products around the world?

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

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

Correct AnswerverifiedShow Answer

Recently,the United States imposed a 35 percent tariff on Chinese tire imports in the hopes of sustaining U.S.jobs in tire manufacturing.This addition of tariffs is an example of

Correct AnswerverifiedShow Answer

In terms of the global marketplace,there are three primary types of companies: international firms,multinational firms,and transnational firms.The key factor that distinguishes one from another is

Correct AnswerverifiedShow Answer

Generally,as the proportion of middle-income households in a country increases,the nation's purchasing power

Correct AnswerverifiedShow Answer

Figure 7-5 -Global companies have five strategies for matching products and their promotion efforts to global markets.According to Figure 7-5 above,B refers to which type of strategy?

Correct AnswerverifiedShow Answer

Two-thirds of the commercial transactions in Russia involve nonmonetary forms of payment due to limits in formal operating procedures among financial institutions and even limits on the notion of private property there.These would best be described as constraints in the country'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

A global marketer selling consumer products and services must also consider what the average per capita or ________ is among a country's consumers and how the income is distributed to determine a nation's purchasing power.

Correct AnswerverifiedShow Answer

A field of study that examines the correspondence between symbols and their role in the assignment of meaning for people is referred to as

Correct AnswerverifiedShow Answer

Explain the difference between indirect exporting and direct exporting.What are the advantages and disadvantages of each approach?

Correct AnswerverifiedIndirect exporting refers to a firm sell...View AnswerShow Answer

A global brand is a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs.However,adaptations of global brands are made

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

Which of the following types of firms would be most likely to use a global marketing strategy?

Correct AnswerverifiedShow Answer

The monetary value of all products and services produced in a country during one year is referred to as the

Correct AnswerverifiedShow Answer

CAFTA-DR is a comprehensive free trade agreement between Costa Rica,the Dominican Republic,El Salvador,Guatemala,Honduras,Nicaragua,and

Correct AnswerverifiedShow Answer

One global perspective on world trade views exports and imports as complementary economic flows.Explain this concept.

Correct AnswerverifiedA country's imports affect its exports a...View AnswerShow 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

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Indirect exporting refers to a firm sell...
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A country's imports affect its exports a...
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