Exam 2: Global, Ethical, and Sustainable Marketing

Companies need to understand the differences in the cultures in which they operate. Explain the terms cultural values and social norms, giving an example of each.

Brexit refers to the planned exit of the U.K. from ________.

In a monopolistic competition market structure, each seller is very conscious of other sellers' actions, since there are very few sellers in the industry.

Which of the following occurs when prices and the cost of living rise while money loses its purchasing power?

A country that is shifting from an agricultural based economy to an industrial based economy is known as a developing country.

The ________ environment refers to the characteristics of a society, the people who live in the society, and the culture that reflects the values and beliefs of the society.

The population of Djibouti is approximately 830,000. To serve the communication needs of this nation, there are two FM radio stations, one AM radio station, and one television station. There are only 22,000 telephone lines in the whole country. This is a partial description of Djibouti's ________.

Which of the following is true of the global economy after the Great Recession of 2008-2009?

SeaFood Family markets its frozen seafood products to the domestic United States market and to several Central American countries. The price of SeaFood Family's products varies from country to country, as regional distributors set the price based on each market. This is an example of ethnocentric pricing.

A(n) ________ is a group of countries that have agreed to coordinate trade policies and ease restrictions on the flow of products and capital across members' borders.

When determining a country's ________, economists look at how the country is attempting to reduce poverty, inequality, and unemployment in addition to considering the country's GDP.

A severe recession is a depression, a period in which prices fall but there is little demand because few people have money to spend and many are out of work. This condition is part of ________.

Afghanistan, Bangladesh, India, and several other South Asian countries formed the SAARC economic community. This is an example of a policy of protectionism.

The only member countries of the North American Free Trade Agreement (NAFTA) are the United States, Canada, and Mexico.

After exporting, the next level of commitment a firm can make to a foreign market is a contractual agreement. Two of the most common types of such agreements are ________.

Per capita gross domestic product (GDP) may be a deceiving economic measure because the wealth of a country may be concentrated among just a small percentage of the population.

Compare the three product strategy choices a large organization such as General Electric or Frito Lay has when selling in foreign markets.

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

The global economic crisis of 2009 had little effect on the volume of world trade in that year.

Using which ethical philosophy would a marketer equally consider all concerned in making decisions?