Question 1

________ occurs when someone voluntarily offers payment to get an illegal advantage.

Accepted Answer

A) Nationalization 
B) An economic sanction 
C) Bribery 
D) Expropriation 
E) Extortion 
A) Nationalization 
B) An economic sanction 
C) Bribery 
D) Expropriation 
E) Extortion

Question 2

Which of the following occurs when prices and the cost of living rise while money loses its purchasing power?

Accepted Answer

A) prosperity 
B) recovery 
C) inflation 
D) deflation 
E) a depression 
A) prosperity 
B) recovery 
C) inflation 
D) deflation 
E) a depression

Question 3

All of the following are barriers to successful exporting except ________.

Accepted Answer

A) tariffs 
B) local content laws 
C) import quotas 
D) export merchants 
E) economic sanctions 
A) tariffs 
B) local content laws 
C) import quotas 
D) export merchants 
E) economic sanctions

Question 4

The telephone system in Argentina is antiquated and is just starting to work properly after years of neglect by the government.What does this tell a marketer about Argentina,and why would a marketer need to know this?

Accepted Answer

A country's communication system is part

Question 5

Small firms that wish to export their products may choose to use ________ who understand the local market and will find buyers and negotiate terms on the firm's behalf.

Accepted Answer

A) direct investors 
B) franchisees 
C) export merchants 
D) franchisors 
E) free traders 
A) direct investors 
B) franchisees 
C) export merchants 
D) franchisors 
E) free traders

Question 6

What is the difference between gross domestic product (GDP)and gross national product (GNP)?

Accepted Answer

Gross domestic product (GDP)is the total

Question 7

The main pursuit of the World Trade Organization (WTO)is to guarantee basic human rights in all markets.

Accepted Answer

A) True 
 B)False

Question 8

The ________ environment refers to the characteristics of a society,the people who live in the society,and the culture that reflects the values and beliefs of the society.

Accepted Answer

A) political and legal 
B) sociocultural 
C) economic 
D) technological 
E) natural 
A) political and legal 
B) sociocultural 
C) economic 
D) technological 
E) natural

Question 9

The management team at Home Help,a consumer products manufacturer,is considering entering several different foreign markets and is in the process of analyzing each potential market's economic environment.Which of the following measures would best help the management team understand the comparative cost of consumer products in each market?

Accepted Answer

A) gross national product (GNP) 
B) the Big Mac Index 
C) the per capita gross domestic product (GDP) 
D) the standard of living 
E) gross domestic product (GDP) 
A) gross national product (GNP) 
B) the Big Mac Index 
C) the per capita gross domestic product (GDP) 
D) the standard of living 
E) gross domestic product (GDP)

Question 10

A(n)________ is a group of countries that have agreed to coordinate trade policies and ease restrictions on the flow of products and capital across members' borders.

Accepted Answer

A) monopoly 
B) free trade zone 
C) economic community 
D) oligopoly 
E) economic infrastructure 
A) monopoly 
B) free trade zone 
C) economic community 
D) oligopoly 
E) economic infrastructure

Question 11

Eastman Kodak accused Japanese rival Fujifilm of selling color photographic paper in the United States for as little as a quarter of what it charges in Japan.What unethical and often illegal practice was Kodak accusing Fujifilm of implementing? Explain your answer.

Accepted Answer

Eastman Kodak was accusing Fujifilm of t

Question 12

In Vin del Mar,Chile,there are a dozen stores specializing in selling the same quality of seafood products on one street.An individual store dare not charge more than the going price without the risk of losing business to the other stores that are selling the fish at a common price.This is an example of what type of market?

Accepted Answer

A) perfect competition 
B) monopolistic competition 
C) oligopolistic competition 
D) a monopoly 
E) an oligopoly 
A) perfect competition 
B) monopolistic competition 
C) oligopolistic competition 
D) a monopoly 
E) an oligopoly

Question 13

When a government adopts a policy of ________,it enforces rules on foreign firms in order to give home companies an advantage.

Accepted Answer

A) gray marketing 
B) countertrade 
C) monopolistic competition 
D) economic sanctions 
E) protectionism 
A) gray marketing 
B) countertrade 
C) monopolistic competition 
D) economic sanctions 
E) protectionism

Question 14

Social norms indicate how to dress,how to speak,what to eat,how to eat,and how to behave.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements about the World Trade Organization (WTO)is true?

Accepted Answer

A) The WTO is a branch of the U.S.government. 
B) Only countries that belong to established economic communities are granted membership in the WTO. 
C) Only developed nations are granted membership to the WTO. 
D) The WTO's main function is to help least developed countries grow their economies. 
E) The WTO is the only international organization that deals with the global rules of trade between nations. 
A) The WTO is a branch of the U.S.government. 
B) Only countries that belong to established economic communities are granted membership in the WTO. 
C) Only developed nations are granted membership to the WTO. 
D) The WTO's main function is to help least developed countries grow their economies. 
E) The WTO is the only international organization that deals with the global rules of trade between nations.

Question 16

The global economic crisis of 2008 had little effect on the volume of world trade that year.

Accepted Answer

A) True 
 B)False

Question 17

How do standardization and localization strategies differ?

Accepted Answer

A standardization strategy focuses on th

Question 18

Tupperware uses a business model that relies on women running their own businesses as agents of Tupperware.Tupperware successfully exports to China and India.Explain why these countries provide attractive markets for Tupperware.

Accepted Answer

China and India are developing countries

Question 19

A firm would be most likely to use backward invention in which of the following situations?

Accepted Answer

A) when it needs to offer a less complex product in a foreign market than it sells elsewhere 
B) when it has decided to rely on a straight extension strategy 
C) when it first markets a product internationally 
D) when it participates in a free trade zone 
E) when it relies on the practice of dumping 
A) when it needs to offer a less complex product in a foreign market than it sells elsewhere 
B) when it has decided to rely on a straight extension strategy 
C) when it first markets a product internationally 
D) when it participates in a free trade zone 
E) when it relies on the practice of dumping

Question 20

Oligopolies most often exist in industries that require little investment in equipment,technology,or materials to produce a product.

Accepted Answer

A) True 
 B)False

________ occurs when someone voluntarily offers payment to get an illegal advantage.

Which of the following occurs when prices and the cost of living rise while money loses its purchasing power?

All of the following are barriers to successful exporting except ________.

The telephone system in Argentina is antiquated and is just starting to work properly after years of neglect by the government.What does this tell a marketer about Argentina,and why would a marketer need to know this?

Small firms that wish to export their products may choose to use ________ who understand the local market and will find buyers and negotiate terms on the firm's behalf.

What is the difference between gross domestic product (GDP)and gross national product (GNP)?

The main pursuit of the World Trade Organization (WTO)is to guarantee basic human rights in all markets.

The ________ environment refers to the characteristics of a society,the people who live in the society,and the culture that reflects the values and beliefs of the society.

A(n)________ is a group of countries that have agreed to coordinate trade policies and ease restrictions on the flow of products and capital across members' borders.

Eastman Kodak accused Japanese rival Fujifilm of selling color photographic paper in the United States for as little as a quarter of what it charges in Japan.What unethical and often illegal practice was Kodak accusing Fujifilm of implementing? Explain your answer.

When a government adopts a policy of ________,it enforces rules on foreign firms in order to give home companies an advantage.

Social norms indicate how to dress,how to speak,what to eat,how to eat,and how to behave.

Which of the following statements about the World Trade Organization (WTO)is true?

The global economic crisis of 2008 had little effect on the volume of world trade that year.

How do standardization and localization strategies differ?

Tupperware uses a business model that relies on women running their own businesses as agents of Tupperware.Tupperware successfully exports to China and India.Explain why these countries provide attractive markets for Tupperware.

A firm would be most likely to use backward invention in which of the following situations?

Oligopolies most often exist in industries that require little investment in equipment,technology,or materials to produce a product.

Welcome to the World of Marketing: Create and Deliver Value

Strategic Market Planning: Take the Big Picture

Marketing Research: Gather, analyze, and Use Information

Consumer Behavior: How and Why We Buy

Business-To-Business Markets: How and Why Organizations Buy

Sharpen the Focus: Target Marketing Strategies and Customer Relationship Management

Create the Product

Manage the Product

Services and Other Intangibles: Marketing the Product That Isnt There

Price the Product

Old and New Media: From One-To-Many to Many-To-Many

One to Many: Advertising, public Relations, and Consumer Sales Promotions

Many to Many: Trade Promotion, direct Marketing, and Personal Selling

Deliver Value Through Supply Chain Management, channels of Distribution, and Logistics

Retailing: Bricks and Clicks

Filters

Exam 3: Thrive in the Marketing Environment: the World Is Flat

________ occurs when someone voluntarily offers payment to get an illegal advantage.

Which of the following occurs when prices and the cost of living rise while money loses its purchasing power?

All of the following are barriers to successful exporting except ________.

The telephone system in Argentina is antiquated and is just starting to work properly after years of neglect by the government.What does this tell a marketer about Argentina,and why would a marketer need to know this?

Small firms that wish to export their products may choose to use ________ who understand the local market and will find buyers and negotiate terms on the firm's behalf.

What is the difference between gross domestic product (GDP)and gross national product (GNP)?

The main pursuit of the World Trade Organization (WTO)is to guarantee basic human rights in all markets.

The ________ environment refers to the characteristics of a society,the people who live in the society,and the culture that reflects the values and beliefs of the society.

A(n)________ is a group of countries that have agreed to coordinate trade policies and ease restrictions on the flow of products and capital across members' borders.

Eastman Kodak accused Japanese rival Fujifilm of selling color photographic paper in the United States for as little as a quarter of what it charges in Japan.What unethical and often illegal practice was Kodak accusing Fujifilm of implementing? Explain your answer.

When a government adopts a policy of ________,it enforces rules on foreign firms in order to give home companies an advantage.

Social norms indicate how to dress,how to speak,what to eat,how to eat,and how to behave.

Which of the following statements about the World Trade Organization (WTO)is true?

The global economic crisis of 2008 had little effect on the volume of world trade that year.

How do standardization and localization strategies differ?

Tupperware uses a business model that relies on women running their own businesses as agents of Tupperware.Tupperware successfully exports to China and India.Explain why these countries provide attractive markets for Tupperware.

A firm would be most likely to use backward invention in which of the following situations?

Oligopolies most often exist in industries that require little investment in equipment,technology,or materials to produce a product.

Welcome to the World of Marketing: Create and Deliver Value

Strategic Market Planning: Take the Big Picture

Marketing Research: Gather, analyze, and Use Information

Consumer Behavior: How and Why We Buy

Business-To-Business Markets: How and Why Organizations Buy

Sharpen the Focus: Target Marketing Strategies and Customer Relationship Management

Create the Product

Manage the Product

Services and Other Intangibles: Marketing the Product That Isnt There

Price the Product

Old and New Media: From One-To-Many to Many-To-Many

One to Many: Advertising, public Relations, and Consumer Sales Promotions

Many to Many: Trade Promotion, direct Marketing, and Personal Selling

Deliver Value Through Supply Chain Management, channels of Distribution, and Logistics

Retailing: Bricks and Clicks

Filters