Exam 7: Serving Global Markets

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 tax on imported goods is a(n) _____.

Even though the per-capita income in India and China is much lower than Canada or the United States, the sheer size of these markets makes them appealing to marketers.

Describe the methods available for entering international markets.

A company sells products to a foreign market at a price lower than it sells within its own country. What is this practice known as?

Which factor is most likely to be included in political environment?

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 standardized marketing mix with minimal modifications that a firm uses in all of its domestic and foreign markets is a(n) _____.

When entering a foreign market, care must be taken to ensure that product names and advertising slogans are translated correctly and do not cause misunderstandings among foreign consumers. What element of the international environment does this illustrate?

Trade barriers fall into two distinct categories defined as tariffs and administrative.

In the currency market, the exchange rate measures how quickly a country can exchange a currency back to its domestic central bank.

For firms that experience success in exporting, the next logical step is international direct investment due to the low risk potential and low level of required involvement.

Global trade consists of two categories: exporting and importing.

Globalization helps firms to gain benefits such as new insights into consumer behaviour and alternative distribution strategies.

Walmart is the world's largest private employer and the largest retail marketer.

The United States is Canada's largest trading partner.

A major drawback to a global marketing strategy is its high cost of implementation.

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 -The _____ is a multinational economic community that has adopted a common currency, removed trade restrictions, and permitted a free flow of goods and workers throughout the member nations.

Which method is most likely to counter for the negative effects of dumping?

The ability to adapt products to local preferences and culture is the key to success in foreign markets.

What is the International Monetary Fund responsible for defining and classifying?

What is the World Trade Organization (WTO)? How does it resolve trade disputes among members?