Exam 19: The Global Marketplace

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

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

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

Lower costs in the form of cheaper labor or raw materials, foreign government investment incentives, freight savings, and the opportunity to improve the company image are the factors that would most likely lead a company to enter a foreign market using the market entry strategy of ________.

In a subsistence economy, fast growth in manufacturing results in rapid overall economic growth.

The EU helped unify Europe by adopting the euro as a common currency. Adopting a common currency has caused problems as stronger economic countries have had to prop up all the following European countries EXCEPT ________.

A ________ firm is one that, by operating in more than one country, gains marketing, production, research and development, and financial advantages that are not available to purely domestic competitors.

According to the text, what location does Coca-Cola consider a "promising long-term growth opportunity"?

What might drive a company to create international divisions or subsidiaries? Discuss the three ways these divisions can be organized.

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

Briefly explain why the European Union could be considered a threat to U.S. marketers that want to do business in Europe.

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

Refer to the scenario below to answer the following question(s). Selman & Saks, a maker of men's and women's razors and electric hair trimmers, had little reason to become involved in the global arena. But after acquiring Wellman Enterprises, whose largest division engages in a licensing agreement with a German firm to produce women's hosiery, managers at Selman & Saks wondered whether a company-wide global focus would be more profitable after all. Managers at Selman & Saks studied Wellman's licensing agreement in great detail. Even after seeing the benefits Wellman achieved with the licensing agreement, managers decided that Selman & Saks would target the French market merely via exporting. With the assistance of a domestic export department, Selman & Saks razors and hair trimmers entered France. For six months, sales were mediocre. But after that, sales suffered. Opinions varied among numerous managers as to the cause of the failure. "Who knows the local market better than people who live there?" was a comment heard throughout Selman & Saks. "Maybe we needed an alliance with a French firm, or a licensing agreement, before racing to get there." -Selman & Saks offered the same razors and trimmers in France as in the United States. Selman & Saks is an example of a ________.

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

Describe the factors that might draw a company into the international arena.

Which of the following does NOT characterize international trade in the past 30 years?

Which of the following is most likely to be the consequence of increased growth of global trade?

A(n) ________ community is a group of nations organized to work toward common goals in the regulation of international trade.

In a(n) ________, the vast majority of people engages in simple agriculture and consumes most of their output.

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