Exam 7: Serving Global Markets

A global marketing strategy for luxury products will often use ads with a picture of the luxury item and the name in various countries. What is this an example of?

The General Agreement on Tariffs and Trade included services under international trading rules.

A major key to achieving success in foreign markets is a firm's ability to adapt its products to local preferences.

Assume China and Canada are involved in a trade dispute. Which organization will attempt to resolve the dispute?

Which of the following does NOT need to be considered in making an international expansion decision?

A global company recognizes that people in Canada shop less frequently, buy larger sized containers of grocery product, and drive to and from the store. In another country, people tend to shop daily and walk to and from the stores. What is most likely to occur in order to address the needs of the other country?

What do ISO 14000 standards set requirements for?

Franchising is a low-risk way to enter a market because the concept is already proven.

A nation's basic system of transportation networks, communications systems, and energy facilities is referred to as its infrastructure.

Gaining insight into consumer behaviour and alternative distribution strategies are both potential advantages for a firm pursuing global expansion.

ISO is a non-governmental body that establishes unique management system standards and certification processes that are tailored to meet the needs of individual companies and nations.

In order for a marketer to operate efficiently in a foreign country, what must be in place and stable to facilitate trade?

Acquiring an existing firm in a country where the company wants to do business is a form of international direct investment.

Why is growth in the services of developing markets most likely to continue?

When planning product and/or promotion strategies for other countries, marketers can choose from among three strategies called straight extension, product adaptation, and promotion adaptation.

Foreign licensing grants foreign marketers the right to distribute a firm's merchandise or use its trademark, patent, or process in a specified geographic area.

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 that grants foreign marketers the right to distribute a firm's products in a specified geographic area is called a(n) _____ agreement.

FedEx has a slogan, "FedEx Delivers to a Changing World" and has run this slogan in Canada, Brazil, China, and additional countries. What is this an example of?

What type of standard marketing strategy modifies only minimally for use in each of the firm's foreign markets?

In Canada, the Trade Commissioner Service provides assistance and advice to small and large companies wanting to enter foreign markets.