Exam 19: The Global Marketplace

Which of the following is an example of an economic community?

In a(n) ________, executives are trained in worldwide operations, not just domestic or international operations.

________ means adjusting the marketing strategy and mix elements to each international target market.

A cell phone maker customized its cell phones for the Asian market by raising the ring volume so that phones could be heard on crowded streets. This is an example of product invention.

Economic communities are also known as ________.

Heineken beer is sold successfully in the same form around the world. Which of the following product strategies is illustrated in this example?

In the case of ________ exporting, sellers handle their own exports.

The EU helped unify Europe by adopting the ________ as a common currency.

Identify the three major ways a company can manage its international marketing.

Discuss the international marketing objectives and policies a company should try to define before going abroad.

Members of management at Growing Green, a company that markets organic and environmentally friendly gardening and landscaping supplies and equipment, are evaluating the benefits and disadvantages of indirect exporting, direct exporting, and licensing. In which stage of the international marketing process is Growing Green?

A country's ________ shapes its product and service needs, income levels, and employment levels.

Sears opened up department stores in Mexico and Spain, where it found qualified local manufacturers to produce many of the products it sells. This type of joint venture is known as ________.

Identify and describe the three product strategies a company entering a foreign market can use.

Nontariff trade barriers include restrictive product standards.

Dove body soaps are sold successfully in essentially the same form around the globe. This is an example of straight product extension.

Kraft has adapted its popular Oreo cookie to the unique tastes of consumers all around the world, whether it's mango-and-orange flavored Oreos in the Asia Pacific region, green tea Oreos in China, a chocolate and peanut variety in Indonesia, or banana and dulce de leche in Argentina.. This is an example of ________.

Formed in 1957, the ________ set out to create a single European market by reducing barriers to the free flow of products, services, finances, and labor among member countries and developing policies on trade with nonmember nations.

The exchange of U.S. wheat for Russian vodka would be an example of barter.

International divisions can be organized as geographical organizations, world product groups, or international subsidiaries.