Exam 7: Serving Global Markets

Manufacturing accounts for 75 percent of all employment in Canada.

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 an internationally recognized standard that ensures that a company's goods, services, and operations meet established quality levels.

An exporter will sell domestically produced goods in foreign markets.

Changing promotion strategy without changing product strategy to meet the needs of a foreign market is called promotion adaptation.

In the future, marketing opportunities in developed countries will far exceed marketing opportunities in lesser-developed countries.

Which of the following is NOT considered a trade barrier to an exporter?

Joint ventures involve contractual agreements in which foreign companies are hired to produce the domestic firm's goods or services in the foreign market.

A Canadian cereal company has completed market research that indicates children from the United Kingdom enjoy the taste of the Canadian version of Snacky Cereal. However, they have a difficult time chewing it because the pieces are so large and are therefore eating less of it. What is the most likely strategy this company is using?

Quotas on imports and export subsidies are different forms of tariffs.

A multidomestic marketing approach brings the advantage of economies of scale to production and marketing activities.

What term refers to a complete ban on the import of a product?

What is developing a completely new product to take advantage of a unique foreign opportunity called?

What is a multinational corporation? How have these organizations evolved?

Infrastructure refers to the price of one nation's currency in terms of another country's currency.

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 -When a firm forms a _______ the risks, costs, and management of a foreign operation are shared with one or more partners.

Which of the following is an administrative trade barrier?

What are alternative strategies from which international marketers can choose when selecting an appropriate product/promotion strategy?

The social-cultural environment of a country includes its language, education, religious attitudes, and social values.

Toyota, a Japanese firm, builds a factory in Ontario to make vehicles to be marketed to Canadians. How is this strategy best described?

What are the six areas marketers must study before advising their company to enter a foreign market?