Exam 19: The Global Marketplace

The two major links between the seller and the final buyer-channels between nations and channels within nations-make up a ________.

At Comfort Homes, a manufacturer of furniture and home accessories, the global operating units report directly to the chief executive instead of a head of an international division. The company recruits management from many countries and buys components and supplies where they cost the least. Comfort Homes is most accurately classified as a(n) ________.

The General Agreement on Tariffs and Trade established the World Trade Organization (WTO), which replaced GATT in 1995 and now oversees the original GATT provisions.

Bias against bids made by American companies is an example of a(n) ________.

Explain why some critics worry that American multinationals are causing countries around the globe to lose their individual identities. Give an example of the "Americanizing" of the world's cultures.

Vidal Sassoon shampoos contain different amounts of scent according to the country in which they are sold. This is an example of ________.

Which of the following is a type of joint venturing?

The whole-channel view recognizes that to compete internationally a company must effectively design and manage a standardized global marketing plan.

Which of the following major decisions should be taken by a company immediately after it decides to operate internationally?

Sellers must understand the ways that consumers in different countries think about and use certain products before planning a marketing program.

Why is it important for companies to understand cultural differences and nuances before entering a foreign country's market? Give two examples of cultural differences that would be important for a company to know.

A(n) ________ serves to limit the amount of foreign exchange and the exchange rate against other currencies.

If Azerbaijan imported wheat from Romania in exchange for crude oil, and Vietnam exchanged rice for Philippine fertilizer and coconuts then these scenarios would be examples of ________.

The two key economic factors reflecting a country's attractiveness as a market are its industrial structure and its ________.

________ consists of creating something new to meet the needs of consumers in a given country.

Which of the following is a political and legal factor that a company should consider before deciding to enter into a new country?

The ________, established in 1947 and modified in 1994, was designed to promote world trade by reducing tariffs and other international trade barriers.

Assume that a Gucci handbag sells for $60 in Italy and $240 in the United States because Gucci must add the cost of transportation, tariffs, importer margin, wholesaler margin, and retailer margin to its factory price. This information indicates that Gucci faces a ________ problem.

Nike inadvertently offended Chinese officials when it ran an ad featuring LeBron James crushing a number of revered Chinese figures in a kung fu-themed television ad. As a result, Nike has to release a formal apology. This is an example of the impact of ________ on marketing strategy.

The ________ was established to replace GATT in 1995 and now oversees the original GATT provisions.