Exam 8: Tapping Into Global Markets

"No matter which nation a person belongs to, people's inherent needs and requirements are essentially the same." Do you agree with this statement? How relevant is this statement in the context of marketing?

Once a firm decides to enter the international market, what is the next step in the decision-making process?

In licensing, the licensor issues a license to a foreign company to use an item of value for a fee or royalty.

Describe the custo Brasil ("the cost of Brazil").

Identify a benefit of using a joint venture to enter a foreign market.

In collectivist societies, ________.

The impact of country of origin is independent of the type of product.

Satisfying different consumer needs and wants can require different marketing programs. Name the four cultural dimensions that differentiate countries, as identified by Hofstede.

Forward invention refers to reintroducing earlier product forms that are well adapted to a foreign country's needs.

The sprinkler approach is an entry strategy where a company gradually enters countries in sequence.

Most companies would prefer to remain domestic if their domestic market were large enough.

When deciding where to operate internationally, it often makes sense to operate in fewer countries, with a deeper commitment and penetration in each. Mention some of the criteria that a country should possess in order to be a viable and attractive investment destination.

If PepsiCo charges what each country could afford, ignoring cost differences from country to country, it would be using a(n) ________ price.

If a company adapts or changes both a product and the communications, the company engages in a process called ________.

According to Hofstede, cultures with weak uncertainty avoidance are best described as ________.

When the licensor provides the licensee with a complete brand concept and operating system, the arrangement is called contract manufacturing.

Whirlpool took a 53 percent stake in the Dutch electronics group Phillips' home appliances business to leapfrog into the European market. This is an example of a ________.

Which of the following is a risk that firms must consider prior to expanding abroad?

A well-known producer of breakfast cereals has decided to hire producers in different countries so that the cereals marketed under their brand are locally produced in the respective countries. This would not only appeal more to consumers who prefer domestically produced goods, but would also create jobs in the host-country enhancing the brand's image further. This is an example of ________.

After successfully exporting its products through export merchants, Boyes Inc. decides to take control of its exports. It sets up its own unit in the home country that takes care of all export-related activities. Boyes Inc. is most likely using ________.