Exam 7: Serving Global Markets

Which of the following advantages does NOT ordinarily arise out of customizing marketing strategies for different international markets?

What is a major benefit of a global marketing strategy?

Explain the difference between a protective tariff and a revenue tariff. What is dumping?

What type of trade barrier is being used if the Italian government imposed duties on consumer electronic products imported from Canada to raise their prices in the local market and to protect the local companies from competition?

Which of the following best describes the role of the Organization of Petroleum Exporting Countries as a marketing organization?

What is the European Union? Describe its goals, and discuss some of their successes and challenges.

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 -means that firms that export must sell foreign currencies to the central bank or other foreign agencies, and importers must buy foreign currencies from the same organization.

In a countertrade, products of one country are exchanged for products of another instead of cash.

The product invention strategy helps a firm take advantage of unique foreign market opportunities.

A noticeable trend toward multinational economic integration has developed since the end of World War II.

Which of the following best describes IBM and General Electric?

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 to abolish tariffs for members and charge a uniform tariff for non-members is called a(n) _____.

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 firm that brings in goods produced abroad to sell domestically or to be used as components in its products is called a(n) _____.

The WTO makes binding decisions in mediating disputes and reduces trade barriers.

What have a group of nations created when they agree to the exchange of goods among themselves by abolishing tariffs and trade restrictions?

A nation's size, per capita income, and stage of economic development determine its prospects as a host for international business expansion.

What type of progress has the World Trade Organization made toward its goals of liberalizing world financial services, telecommunications, and maritime markets?

What is a franchise? What advantages does this strategy offer to international marketers?

What two categories can international trade be divided into?

A country in Africa imposes a duty on imported goods to pay for government services. What is this an example of?