Question 1

Similar consumer needs around the world suggest that a strategy of adapted global marketing is appropriate for most international firms.

Accepted Answer

A) True 
 B)False

Question 2

Which type of economy consists mostly of households with very low family incomes?

Accepted Answer

A)  post-industrial 
B)  developed 
C)  emerging 
D)  industrial 
E)  subsistence 
A)  post-industrial 
B)  developed 
C)  emerging 
D)  industrial 
E)  subsistence

Question 3

Which of the following is most likely a drawback of contract manufacturing?

Accepted Answer

A)  There are low chances of quickly starting the process. 
B)  There is decreased control over the manufacturing process. 
C)  There are significant political and economic risks involved. 
D)  There is little opportunity of later forming a partnership. 
E)  There is no possibility of buying out the local manufacturer. 
A)  There are low chances of quickly starting the process. 
B)  There is decreased control over the manufacturing process. 
C)  There are significant political and economic risks involved. 
D)  There is little opportunity of later forming a partnership. 
E)  There is no possibility of buying out the local manufacturer.

Question 4

Which of the following is an advantage of licensing?

Accepted Answer

A)  The licensee is not required to invest money in the business. 
B)  The licensor has more control over the licensee than it does in its own operations. 
C)  The licensee gains recognition without having to develop a product from scratch. 
D)  The licensor earns profits without having to share its intellectual property with anyone. 
E)  The licensor faces no threats of competition from the licensee after the contract ends. 
A)  The licensee is not required to invest money in the business. 
B)  The licensor has more control over the licensee than it does in its own operations. 
C)  The licensee gains recognition without having to develop a product from scratch. 
D)  The licensor earns profits without having to share its intellectual property with anyone. 
E)  The licensor faces no threats of competition from the licensee after the contract ends.

Question 5

Compared to standardized global marketing, adapted global marketing ________.

Accepted Answer

A)  uses the same marketing mix elements in all target markets 
B)  lowers marketing costs by using home country sales teams 
C)  modifies marketing strategies to meet local needs 
D)  maintains uniformity across all markets 
E)  results in greater brand power 
A)  uses the same marketing mix elements in all target markets 
B)  lowers marketing costs by using home country sales teams 
C)  modifies marketing strategies to meet local needs 
D)  maintains uniformity across all markets 
E)  results in greater brand power

Question 6

Give an account of the functions of the World Trade Organization (WTO)and the formation of the WTO from GATT.

Accepted Answer

The General Agreement on Tariffs and Tra

Question 7

The simplest way to enter a foreign market is through ________.

Accepted Answer

A)  joint ownership 
B)  exporting 
C)  direct investment 
D)  licensing 
E)  contract manufacturing 
A)  joint ownership 
B)  exporting 
C)  direct investment 
D)  licensing 
E)  contract manufacturing

Question 8

________ means marketing a product in a foreign market without making any changes to the product.

Accepted Answer

A)  Product adaptation 
B)  Straight product extension 
C)  Communication extension 
D)  Product invention 
E)  Communication adaptation 
A)  Product adaptation 
B)  Straight product extension 
C)  Communication extension 
D)  Product invention 
E)  Communication adaptation

Question 9

Kimlee, a food manufacturer based in China, recognizes the immense demand for noodles in the Australian market. Kimlee forms a new business venture to manufacture instant noodles and decides to share possession and control of the new business with a local food processing company. In this case, Kimlee has entered a foreign market through ________.

Accepted Answer

A)  licensing 
B)  contract manufacturing 
C)  direct investment 
D)  joint ownership 
E)  management contracting 
A)  licensing 
B)  contract manufacturing 
C)  direct investment 
D)  joint ownership 
E)  management contracting

Question 10

Which of the following is a disadvantage of straight product extension?

Accepted Answer

A)  It involves additional product development costs. 
B)  It involves changing the product to meet local requirements. 
C)  It requires planning a new promotional strategy to promote the product. 
D)  It can be costly in the long run if products fail to satisfy consumers in specific global markets. 
E)  It requires making changes in the manufacturing process. 
A)  It involves additional product development costs. 
B)  It involves changing the product to meet local requirements. 
C)  It requires planning a new promotional strategy to promote the product. 
D)  It can be costly in the long run if products fail to satisfy consumers in specific global markets. 
E)  It requires making changes in the manufacturing process.

Question 11

Companies often form ________ ventures to merge their complementary strengths in developing a global marketing opportunity.

Accepted Answer

A)  licensing 
B)  direct investment 
C)  joint ownership 
D)  management contracting 
E)  contract manufacturing 
A)  licensing 
B)  direct investment 
C)  joint ownership 
D)  management contracting 
E)  contract manufacturing

Question 12

Japan is a major exporter of manufactured goods, services, and investment funds. Japan also exports its goods to other types of economies for raw materials and semi-finished goods. This is an example of a(n)________ economy.

Accepted Answer

A)  agricultural 
B)  emerging 
C)  industrial 
D)  raw material exporting 
E)  subsistence 
A)  agricultural 
B)  emerging 
C)  industrial 
D)  raw material exporting 
E)  subsistence

Question 13

Which of the following is most likely true of a global firm?

Accepted Answer

A)  A global firm typically operates from one country. 
B)  A global firm engages in joint partnerships overseas. 
C)  A global firm sees the world as many different markets. 
D)  A global firm maximizes the importance of national boundaries. 
E)  A global firm manufactures and markets goods wherever it can do the best job. 
A)  A global firm typically operates from one country. 
B)  A global firm engages in joint partnerships overseas. 
C)  A global firm sees the world as many different markets. 
D)  A global firm maximizes the importance of national boundaries. 
E)  A global firm manufactures and markets goods wherever it can do the best job.

Question 14

Global companies recruit management from many countries, buy components and supplies where they cost the least, and invest where the expected returns are greatest.

Accepted Answer

A) True 
 B)False

Question 15

To overcome this problem when selling to less-affluent consumers in developing countries, many companies make simpler or smaller versions of their products that can be sold at lower prices. Others have introduced new, more affordable brands for global markets. This is known as a(n)________ problem.

Accepted Answer

A)  price escalation 
B)  demand escalation 
C)  inflation 
D)  skimming price 
E)  deflation 
A)  price escalation 
B)  demand escalation 
C)  inflation 
D)  skimming price 
E)  deflation

Question 16

Which of the following is most likely true about a global organization?

Accepted Answer

A)  Worldwide policies are planned by top corporate management. 
B)  Global operating units report to international division chiefs. 
C)  Executive training is restricted to domestic operations. 
D)  Employees are recruited exclusively from the home country. 
E)  It considers itself a national marketer that sells abroad. 
A)  Worldwide policies are planned by top corporate management. 
B)  Global operating units report to international division chiefs. 
C)  Executive training is restricted to domestic operations. 
D)  Employees are recruited exclusively from the home country. 
E)  It considers itself a national marketer that sells abroad.

Question 17

Which of the following statements is true of industrial economies?

Accepted Answer

A)  They export their goods to other types of economies for raw materials. 
B)  They have a declining middle class population. 
C)  They depend on agriculture as the primary revenue generator. 
D)  They do not trade goods amongst themselves. 
E)  They consume most of their output and barter the rest for simple goods and services. 
A)  They export their goods to other types of economies for raw materials. 
B)  They have a declining middle class population. 
C)  They depend on agriculture as the primary revenue generator. 
D)  They do not trade goods amongst themselves. 
E)  They consume most of their output and barter the rest for simple goods and services.

Question 18

A multinational company may face nontariff trade barriers that include biases against its bids, restrictive product standards, or excessive host-country regulations.

Accepted Answer

A) True 
 B)False

Question 19

Under management contracting, a domestic firm ________.

Accepted Answer

A)  adopts management know-how from a foreign company 
B)  manufactures the products of a foreign company 
C)  exports its products to a foreign company 
D)  provides financial capital to a foreign company 
E)  exports management services to a foreign company 
A)  adopts management know-how from a foreign company 
B)  manufactures the products of a foreign company 
C)  exports its products to a foreign company 
D)  provides financial capital to a foreign company 
E)  exports management services to a foreign company

Question 20

Which of the following is true of international divisions that are structured as geographical organizations?

Accepted Answer

A)  Geographical organizations are operating units under the export department. 
B)  Geographical organizations are usually formed to implement whole-channel supply chains. 
C)  Geographical organizations are managed by product managers, each responsible for different product groups. 
D)  Geographical organizations are inadequate if the firm moves into joint ventures or direct investments. 
E)  Geographical organizations are managed by country managers responsible for salespeople, distributors, and licensees in their respective countries. 
A)  Geographical organizations are operating units under the export department. 
B)  Geographical organizations are usually formed to implement whole-channel supply chains. 
C)  Geographical organizations are managed by product managers, each responsible for different product groups. 
D)  Geographical organizations are inadequate if the firm moves into joint ventures or direct investments. 
E)  Geographical organizations are managed by country managers responsible for salespeople, distributors, and licensees in their respective countries.

Similar consumer needs around the world suggest that a strategy of adapted global marketing is appropriate for most international firms.

Which type of economy consists mostly of households with very low family incomes?

Which of the following is most likely a drawback of contract manufacturing?

Which of the following is an advantage of licensing?

Compared to standardized global marketing, adapted global marketing ________.

Give an account of the functions of the World Trade Organization (WTO)and the formation of the WTO from GATT.

The simplest way to enter a foreign market is through ________.

________ means marketing a product in a foreign market without making any changes to the product.

Which of the following is a disadvantage of straight product extension?

Companies often form ________ ventures to merge their complementary strengths in developing a global marketing opportunity.

Japan is a major exporter of manufactured goods, services, and investment funds. Japan also exports its goods to other types of economies for raw materials and semi-finished goods. This is an example of a(n)________ economy.

Which of the following is most likely true of a global firm?

Global companies recruit management from many countries, buy components and supplies where they cost the least, and invest where the expected returns are greatest.

To overcome this problem when selling to less-affluent consumers in developing countries, many companies make simpler or smaller versions of their products that can be sold at lower prices. Others have introduced new, more affordable brands for global markets. This is known as a(n)________ problem.

Which of the following is most likely true about a global organization?

Which of the following statements is true of industrial economies?

A multinational company may face nontariff trade barriers that include biases against its bids, restrictive product standards, or excessive host-country regulations.

Under management contracting, a domestic firm ________.

Which of the following is true of international divisions that are structured as geographical organizations?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Social Responsibility and Ethics

Filters

Exam 15: The Global Marketplace

Similar consumer needs around the world suggest that a strategy of adapted global marketing is appropriate for most international firms.

Which type of economy consists mostly of households with very low family incomes?

Which of the following is most likely a drawback of contract manufacturing?

Which of the following is an advantage of licensing?

Compared to standardized global marketing, adapted global marketing ________.

Give an account of the functions of the World Trade Organization (WTO)and the formation of the WTO from GATT.

The simplest way to enter a foreign market is through ________.

________ means marketing a product in a foreign market without making any changes to the product.

Which of the following is a disadvantage of straight product extension?

Companies often form ________ ventures to merge their complementary strengths in developing a global marketing opportunity.

Japan is a major exporter of manufactured goods, services, and investment funds. Japan also exports its goods to other types of economies for raw materials and semi-finished goods. This is an example of a(n)________ economy.

Which of the following is most likely true of a global firm?

Global companies recruit management from many countries, buy components and supplies where they cost the least, and invest where the expected returns are greatest.

To overcome this problem when selling to less-affluent consumers in developing countries, many companies make simpler or smaller versions of their products that can be sold at lower prices. Others have introduced new, more affordable brands for global markets. This is known as a(n)________ problem.

Which of the following is most likely true about a global organization?

Which of the following statements is true of industrial economies?

A multinational company may face nontariff trade barriers that include biases against its bids, restrictive product standards, or excessive host-country regulations.

Under management contracting, a domestic firm ________.

Which of the following is true of international divisions that are structured as geographical organizations?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Social Responsibility and Ethics

Filters