Exam 18: Managing Marketing in the Global Economy

A global firm is a firm that operates in more than one country and captures R&D,production,logistical,marketing,and financial advantages not available to purely domestic competitors.

Existence of gray markets lead to which of the following outcomes?

People are often ethnocentric and favorably predisposed to their own country's products,unless they come from a less developed country.

If Kellogg's offered different varieties of breakfast cereals in India as compared to Australia,and also positioned its products differently in the two countries,then Kellogg's would be engaging in dual adaptation.

Companies typically start their international foray with ________,which involve(s)working through independent intermediaries who sell their products abroad.

Trends Inc.produces and markets casual wear for men and women.The company wants to be a global brand and is planning to enter a few chosen markets across Europe and Asia.To accommodate the differences in purchasing power and costs of shipping goods to the retailers,the company has decided to use cost-based pricing in each country.In order to ensure that this strategy is successful,Trends must first make sure that ________.

In a waterfall approach to international expansion,________.

WayToGrow Inc.is one of the most popular brand of toys in its home market.The company decides to expand its business abroad and its board of directors feel that instead of trying to establish its presence all at once in multiple markets,it is better to expand one country at a time.This would limit their risk and allow them to analyze customer response,after which they could expand to other similar countries.WayToGrow is following a ________.

Companies can run the same marketing communications programs as used in the home market or change them for each local market,a process called ________.

If a company adapts or changes both the product and the communications,the company engages in a process called ________.

Communication adaptation occurs when companies change marketing communications for each local market.

Global firms plan,operate,and coordinate their activities on a worldwide basis.

Web-crawling technology searches for counterfeit storefronts and sales by detecting domain names similar to legitimate brands.

Once a company decides to target a particular country,it must determine the best mode of entry.Its broad choices are indirect exporting,direct exporting,licensing,joint ventures,and direct investment.

Whirlpool took a 53% stake in the Dutch electronics group Phillips' home appliances business to leapfrog into the European market.This is an example of a ________.

Define a joint venture and list some of the advantages and disadvantages.

In a sprinkler approach to international expansion,________.

Which of the following is a risk that firms must consider prior to expanding abroad?

Which of the following is most likely to be successful when introduced in foreign markets as a straight extension?

A2Z Inc.is a producer of a huge variety of consumer goods,from soaps to shower gels,and shampoos to detergents.It is a market leader in the United States and is planning to tap the immense potential in the emerging markets.Market research,however,indicates that the Brazilian culture and society are substantially different from their American counterparts.If the company wants to target the masses,which of the following options is most likely to succeed?