Exam 19: The Global Marketplace

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

Barter is often used in subsistence economies.

________ are major exporters of manufactured goods,services,and investment funds.They trade goods among themselves and export them to other types of economies for raw materials and semi-finished goods.

________ means selling largely the same products and using the same marketing approaches worldwide.

When entering a foreign market,companies typically start with ________,working through independent intermediaries to sell products produced in the home country.

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

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

Growing Green is a company that markets organic and environmentally friendly gardening and landscaping supplies and equipment.Members of management at Growing Green are examining the policies of GATT,actions undertaken by the WTO,and the agreements made by NAFTA and the EU.In which stage of the international marketing process is Growing Green?

Which type of business is LEAST likely to find it necessary to enter international markets in order to survive?

As an example of straight product extension,Coca-Cola calls its American low-calorie beverage Diet Coke by the name of Light in many foreign markets.

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)________.

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

"Take the product as is and find customers for it" is the slogan for ________.

Nike faced a situation in a Muslim country with the stylized "Air" logo on its shoes.Muslims were offended because Nike's "Air" resembled "Allah" in Arabic script.This is an example of ________.

________ ventures consist of one company joining forces with foreign investors to create a local business in which they share ownership and control.

How is joint venturing more risky and complex than merely exporting?

The international company must take a ____________ of the problem of distributing products to final consumers.

Companies such as Quaker Oats and Monsanto are researching the nutrition needs of different countries,creating new foods,and developing advertising campaigns to gain product trial and acceptance.This is an example of ________.

Economic communities are also known as ________.

The biggest involvement in a foreign market comes through direct investment,the development of foreign-based assembly or manufacturing facilities.