Exam 19: The Global Marketplace

What are two possible reasons that management contracting is prevalent in the hotel industry?

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

Name two of the five indicators of market potential and provide an example of each.

Discuss direct and indirect exporting. What are the advantages of exporting?

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 firm often enters international marketing by simply shipping its goods out of the country. If its international sales expand, the company often organizes a(n) ________.

Companies that go global confront several major risks. Describe three of these risks.

World product groups, geographical organizations, and international subsidiaries are all options for organizing a(n)________.

Which of the following is the LEAST critical decision a company should make before going abroad?

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

Which of the following was a result of the Uruguay Round of global WTO trade talks?

Which of the following industrial structures presents the fewest market opportunities?

Nontariff trade barriers include restrictive product standards.

In 1994, the North American Free Trade Agreement (NAFTA) established a free trade zone among the United States and Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua.

Growing Green, a U.S. company that markets organic and environmentally friendly gardening and landscaping supplies and equipment, wants to expand the business internationally. Growing Green managers are currently examining the rules imposed by the WTO and the agreements made by NAFTA and the EU. In which stage of the international marketing process is Growing Green?

In Chinese, the KFC slogan "finger-lickin' good" came out as "eat your fingers off." And Motorola's Hello-moto ringtone sounded like "Hello, Fatty" in India. Which of the following strategies can be used to avoid such mistakes?

If a firm moves into joint ventures and direct investments, it will eventually need to create an export department.

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

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) ________.

Industrializing economies are also known as ________ economies.