Question 1

In the international market, what does a product adaptation strategy combine?

Accepted Answer

A)  changes in promotion strategy with changes in the product itself 
B)  domestic product with promotional changes tuned to the foreign market 
C)  product changes with the same promotional strategy used in the domestic market 
D)  product characteristics not seen in the home country with a foreign promotional strategy 
A)  changes in promotion strategy with changes in the product itself 
B)  domestic product with promotional changes tuned to the foreign market 
C)  product changes with the same promotional strategy used in the domestic market 
D)  product characteristics not seen in the home country with a foreign promotional strategy

Question 2

The labour conditions in a country are part of its political environment.

Accepted Answer

A) True 
 B)False

Question 3

What is a firm that brings in chemical intermediates such as organic fertilizers from different countries and processes them in its labs before selling it in its domestic market regarded as?

Accepted Answer

A)  EMC contractor 
B)  licensee 
C)  franchisee 
D)  importer 
A)  EMC contractor 
B)  licensee 
C)  franchisee 
D)  importer

Question 4

What term refers to contractual agreement by which a domestic firm grants foreign marketers the right to distribute a firm's merchandise or use its trademark, patent, or process in a specified geographic area?

Accepted Answer

A)  subcontracting 
B)  franchising 
C)  reciprocal partnership 
D)  foreign licensing 
A)  subcontracting 
B)  franchising 
C)  reciprocal partnership 
D)  foreign licensing

Question 5

Procter & Gamble successfully introduced a lower-priced version of its popular Tide laundry detergent to the rural Chinese market, and a higher-priced version to city-dwellers in China. What does this illustrate about succeeding in a foreign market?

Accepted Answer

A)  Marketers must look for alternative distribution channels. 
B)  Marketers must partner with a local marketing firm. 
C)  Marketers must adapt a product to local preferences and culture. 
D)  Marketers must maintain the exact product characteristics that were successful in the domestic market. 
A)  Marketers must look for alternative distribution channels. 
B)  Marketers must partner with a local marketing firm. 
C)  Marketers must adapt a product to local preferences and culture. 
D)  Marketers must maintain the exact product characteristics that were successful in the domestic market.

Question 6

Why is global trade important to the Canadian economy?

Accepted Answer

a. It opens up new opportunities for pro

Question 7

What term refers to a trade restriction that limits the number of units of products in certain categories that can cross a country's boundary for resale?

Accepted Answer

A)  protective tariff 
B)  embargo 
C)  import quota 
D)  subsidy 
A)  protective tariff 
B)  embargo 
C)  import quota 
D)  subsidy

Question 8

What is a form of global marketing that involves a continuous effort in marketing a firm's merchandise to customers in other countries called?

Accepted Answer

A)  business process reengineering 
B)  exporting 
C)  sole sourcing 
D)  social referencing 
A)  business process reengineering 
B)  exporting 
C)  sole sourcing 
D)  social referencing

Question 9

Machinery and industrial products represent the highest percentage of Canada's exports.

Accepted Answer

A) True 
 B)False

Question 10

What is the ideal way for a nation to stop a foreign company from dumping?

Accepted Answer

A)  pay the exporter with soft currency 
B)  impose protective tariffs 
C)  cite international law 
D)  appeal to the International Monetary Fund 
A)  pay the exporter with soft currency 
B)  impose protective tariffs 
C)  cite international law 
D)  appeal to the International Monetary Fund

Question 11

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
-is the sale of domestically produced products in other countries.

Accepted Answer

The answer of Match each item to the statement or...

Question 12

Service transactions are not included in a country's export numbers.

Accepted Answer

A) True 
 B)False

Question 13

What is the basic purpose of revenue tariffs?

Accepted Answer

A)  to raise money for the country into which the products are being imported 
B)  to raise the retail prices of imported products to match or exceed those of similar domestic products 
C)  to counter the effects of protective tariffs on the domestic market 
D)  to stabilize the prices of imported goods 
A)  to raise money for the country into which the products are being imported 
B)  to raise the retail prices of imported products to match or exceed those of similar domestic products 
C)  to counter the effects of protective tariffs on the domestic market 
D)  to stabilize the prices of imported goods

Question 14

Import quotas set dollar volume limits on traded goods as a way to control the amount of product that enters a country.

Accepted Answer

A) True 
 B)False

Question 15

What is a firm with significant operations and marketing activities outside its home country called?

Accepted Answer

A)  monopoly 
B)  active exporter 
C)  multinational corporation 
D)  overseas marketer 
A)  monopoly 
B)  active exporter 
C)  multinational corporation 
D)  overseas marketer

Question 16

A global marketing strategy works well for products with strong, universal appeal, such as McDonald's, luxury items such as Rolex watches, and high-tech brands, such as Microsoft.

Accepted Answer

A) True 
 B)False

Question 17

A multi-domestic marketing strategy typically uses several different marketing strategies within a single country's borders.

Accepted Answer

A) True 
 B)False

Question 18

What are the economic factors that determine a nation's prospect as a host for international business expansion?

Accepted Answer

A nation's size, per-capita income, and

Question 19

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 with significant marketing activities outside its own country is a(n) _____.

Accepted Answer

The answer of Match each item to the statement or...

Question 20

What is a major technological issue involving food market?

Accepted Answer

A)  value engineering 
B)  reverse engineering 
C)  genetic reengineering 
D)  business process reengineering 
A)  value engineering 
B)  reverse engineering 
C)  genetic reengineering 
D)  business process reengineering

In the international market, what does a product adaptation strategy combine?

The labour conditions in a country are part of its political environment.

What is a firm that brings in chemical intermediates such as organic fertilizers from different countries and processes them in its labs before selling it in its domestic market regarded as?

What term refers to contractual agreement by which a domestic firm grants foreign marketers the right to distribute a firm's merchandise or use its trademark, patent, or process in a specified geographic area?

Procter & Gamble successfully introduced a lower-priced version of its popular Tide laundry detergent to the rural Chinese market, and a higher-priced version to city-dwellers in China. What does this illustrate about succeeding in a foreign market?

Why is global trade important to the Canadian economy?

What term refers to a trade restriction that limits the number of units of products in certain categories that can cross a country's boundary for resale?

What is a form of global marketing that involves a continuous effort in marketing a firm's merchandise to customers in other countries called?

Machinery and industrial products represent the highest percentage of Canada's exports.

What is the ideal way for a nation to stop a foreign company from dumping?

Service transactions are not included in a country's export numbers.

What is the basic purpose of revenue tariffs?

Import quotas set dollar volume limits on traded goods as a way to control the amount of product that enters a country.

What is a firm with significant operations and marketing activities outside its home country called?

A global marketing strategy works well for products with strong, universal appeal, such as McDonald's, luxury items such as Rolex watches, and high-tech brands, such as Microsoft.

A multi-domestic marketing strategy typically uses several different marketing strategies within a single country's borders.

What are the economic factors that determine a nation's prospect as a host for international business expansion?

What is a major technological issue involving food market?

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Marketing Research, Decision Support Systems, and Sales Forecasting

Marketing Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

Filters

Exam 7: Serving Global Markets

In the international market, what does a product adaptation strategy combine?

The labour conditions in a country are part of its political environment.

What is a firm that brings in chemical intermediates such as organic fertilizers from different countries and processes them in its labs before selling it in its domestic market regarded as?

What term refers to contractual agreement by which a domestic firm grants foreign marketers the right to distribute a firm's merchandise or use its trademark, patent, or process in a specified geographic area?

Procter & Gamble successfully introduced a lower-priced version of its popular Tide laundry detergent to the rural Chinese market, and a higher-priced version to city-dwellers in China. What does this illustrate about succeeding in a foreign market?

Why is global trade important to the Canadian economy?

What term refers to a trade restriction that limits the number of units of products in certain categories that can cross a country's boundary for resale?

What is a form of global marketing that involves a continuous effort in marketing a firm's merchandise to customers in other countries called?

Machinery and industrial products represent the highest percentage of Canada's exports.

What is the ideal way for a nation to stop a foreign company from dumping?

Service transactions are not included in a country's export numbers.

What is the basic purpose of revenue tariffs?

Import quotas set dollar volume limits on traded goods as a way to control the amount of product that enters a country.

What is a firm with significant operations and marketing activities outside its home country called?

A global marketing strategy works well for products with strong, universal appeal, such as McDonald's, luxury items such as Rolex watches, and high-tech brands, such as Microsoft.

A multi-domestic marketing strategy typically uses several different marketing strategies within a single country's borders.

What are the economic factors that determine a nation's prospect as a host for international business expansion?

What is a major technological issue involving food market?

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Marketing Research, Decision Support Systems, and Sales Forecasting

Marketing Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

Filters