Exam 7: Serving Global Markets

What does ISO 9000 and ISO 14000 certification represent?

A multidomestic marketing strategy can be used by a firm in all of its domestic and foreign markets without any modifications.

The ultimate goal of the European Union is to remove all barriers to free trade among its members.

Countertrading can be utilized as a way for a country to control its balance-of-trade problems.

Soft currencies are methods of exchange that cannot be readily converted into hard currencies such as the dollar, euro, or yen.

Match each item to the statement or sentence listed below. a.exporting b.World Trade Organization c.infrastructure d.exchange rate e.tariff f.import quota g.dumping h.ISO certification i.foreign licensing j.multinational corporation k.global marketing strategy l.multi-domestic marketing strategy m.countertrade n.joint venture o.exchange control p.customs union q.Free Trade Area of the Americas r.European Union s.importer t.embargo u.franchise -A(n) _____ is a trade restriction that limits the number of goods that can enter a country for resale.

The World Trade Organization oversees GATT agreements, mediates disputes, and continues the effort to further reduce trade barriers throughout the world.

Match each item to the statement or sentence listed below. a.exporting b.World Trade Organization c.infrastructure d.exchange rate e.tariff f.import quota g.dumping h.ISO certification i.foreign licensing j.multinational corporation k.global marketing strategy l.multi-domestic marketing strategy m.countertrade n.joint venture o.exchange control p.customs union q.Free Trade Area of the Americas r.European Union s.importer t.embargo u.franchise -A nation's basic system of transportation networks, communications systems, and energy facilities is known as its _____.

Information technology is a major factor in allowing services to be traded internationally.

The introduction of the euro as a standard form of currency in European countries was developed in order to strengthen Europe's competitiveness in the global marketplace.

Compare the two different approaches to developing a marketing mix for an international market.

A company that changes its product's package sizes, prices, and promotional messages to meet the local market's tastes is using a straight extension marketing strategy.

Match each item to the statement or sentence listed below. a.exporting b.World Trade Organization c.infrastructure d.exchange rate e.tariff f.import quota g.dumping h.ISO certification i.foreign licensing j.multinational corporation k.global marketing strategy l.multi-domestic marketing strategy m.countertrade n.joint venture o.exchange control p.customs union q.Free Trade Area of the Americas r.European Union s.importer t.embargo u.franchise -North American Free Trade Agreement was the first step toward creating _____, a proposed free trade area covering the entire western hemisphere.

Which of the following is NOT considered a part of a nation's infrastructure?

The Canadian wine industry went global to increase international sales as well as domestic sales.

What type of multinational organization features the no tariff exchange of goods among its members and a uniform tariff for trade with nonmember nations?

Many western firms have set up political risk assessment (PRA) units to help evaluate the political risks of foreign marketplaces.

Match each item to the statement or sentence listed below. a.exporting b.World Trade Organization c.infrastructure d.exchange rate e.tariff f.import quota g.dumping h.ISO certification i.foreign licensing j.multinational corporation k.global marketing strategy l.multi-domestic marketing strategy m.countertrade n.joint venture o.exchange control p.customs union q.Free Trade Area of the Americas r.European Union s.importer t.embargo u.franchise -An agreement in which a wholesaler or retailer agrees to meet the operational requirements of a manufacturer is called a(n) _____ agreement.

Which of the following is NOT an example of international direct investment by a firm?

All world nations, no matter how large or small, are automatically considered to be part of the World Trade Organization.