Exam 22: Tapping Into Global Markets

In which of the following modes of licensing does the firm hire local producers to produce the product,giving the company less control over the manufacturing process?

Product adaptation involves ________.

In an attempt to tailor its products to suit the requirements of consumers in India,LG introduced the aero-comfort system.A remote control is programed to regulate both the air-conditioning and the ceiling fan.Consumers can switch off the AC and increase the ceiling fan's flow once the desired temperature is achieved.This not only increases convenience,but also cuts down electricity charges.LG's aero comfort system is an example of which of the following?

A global firm is a firm that operates in more than one country and captures R&D,production,logistical,marketing,and financial advantages not available to purely domestic competitors.

Which of the following countries is a member of ASEAN?

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

When innovation at Siemens enables the company to offer solutions that can make the generation of hydroelectricity more environment-friendly,the company will want to reap the benefits of being the first to introduce such a product across countries.In this case,which of the following approaches is likely to be the best approach to entering foreign markets?

Which of the following causes a difference between marketing in the developed countries and marketing in the developing countries?

Many manufacturers think their job is done once the product leaves the factory.They should instead pay attention to how the product moves within the foreign country.

When companies sell on the Internet,price becomes transparent,and price differentiation between countries declines.

International companies must decide how much to adapt their marketing strategy to local conditions.Identify and explain the two strategies companies can use.

While choosing countries to invest in,companies sometimes choose psychic proximity to their own country.Psychic proximity can best be defined as ________.

Name the three choices that companies have for setting prices in different countries.

Smaller packaging and lower sales prices are often critical in markets where incomes are limited.

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

Management contracts offer foreign owners the opportunity to manage businesses for a fee.

A Canadian software company decides to buy majority stakes in a Chinese firm producing software.The company even adds to its Chinese production capacity.Which of the following could be a potential disadvantage of this direct investment?

Communication adaptation occurs when companies change marketing communications for each local market.

Which of the following is likely if the distribution channel for a product in the foreign country is long?

A company can enter a foreign market through ________,which is a complete form of licensing in which the company offers a complete brand concept and operating system.