Exam 1: Globalization Imperative

BRIC is an acronym for:

This happened in 1993.

Global marketing strategy realizes that ___________________ leads to higher costs.

There are five identifiable stages in the evolution of marketing across national boundaries.The last stage is:

Domestic marketers tend to be geocentric.

When a company such as Nike wishes to pursue a comparative advantage strategy, it would have product designing and development and special material development conducted in the United States and _________________ operations conducted in labor-abundant countries like China or Brazil.

Black & Decker, a U.S.hand tool manufacturer, adopted a(n) __________________ perspective by standardizing and streamlining components such as motors and rotors while maintaining a wide range of product lines creating a universal image for its products.

An actual exchange rate between two countries is affected by consumer demands and _______________________ in the two countries.

____________________ consists of exports and imports between a country and the rest of the world.

The Silk Road once connected Shanghai (China) to Istanbul (Turkey) on land.

The term international marketing refers to a strategy to achieve one or more of four major categories of potential globalization benefits: cost reduction, improved quality of products and programs, enhanced customer preference, and increased competitive advantage on a global basis.

The drive for globalization continues to be promoted through more free trade.

Toyota's new strategy is to de-Japanize its business and make the ________ market its major corporate priority.

The term that describes a price of one good in terms of another is called __________.

Triad regions of the world encompass North America, Western Europe and Africa.

As a company's market share in a number of countries reaches a certain point, it becomes important for the company to defend its position vis-à-vis local competition.This is an example of _____________________ orientation.

Explain intra-firm trade.Give an example to illustrate your answer.

When a company such as Nike has product designing and development and special material development conducted in the United States and has manufacturing operations in labor-abundant countries like China, the company is using ______________________ strategy.

In a polycentric orientation, marketers begin to _________________ products to local conditions.

In today's global marketing, international trade and foreign production are increasingly managed on a __________________.