Exam 1: Globalization Imperative

FDI stands for:

A company's expertise can be channeled through three routes to seek competitive advantage: appropriability regime, dominant design, and geocentric capability.

___________________ theory states that a country can gain from engaging in trade even if it has an absolute advantage or disadvantage.

The following statement characterizes which country's orientation to introducing products to their mass market: Developing and marketing products that not only conserve material and capital but also space to address their consumer's acute concern about space limitation.

The term global epitomizes both competitive pressure and the expanding market opportunities all over the world.

Marketing is much broader than selling.

Firms that possess a global vision from their start engage in export sales immediately and even FDI as well as international alliances at an early stage of development are called what?

When a country's per capita income is less than $20,000, much of the income is spent on food and other necessity items, and very little disposable income remains.

The _________________ argument says that two countries cannot engage in trade if one country has a(an) ___________________ over the other country.Note: the phrase will fit in both blanks.

Intrafirm trade makes trade statistics more complex to interpret because of trade transactions taking place between affiliated companies within the same corporate system, transcending national boundaries.

Five types of marketing that have led to the evolution of global marketing are domestic marketing, export marketing, international marketing, multidomestic marketing, _________________, and global marketing.

Domestic marketing strategy is characterized as a strategy that is developed based on information about domestic customer needs and wants, economic, technological, and political environments at home, and ____________________.

If international marketing is taken to the extreme, a company may establish an independent foreign subsidiary in each and every foreign market and have each of the subsidiaries operate independently of each other without any measurable headquarters control.This special case is called:

Which of these factors influenced European companies' specialized, premium product strategy (prior to the formation of the EU):

When a company forms independent foreign subsidiaries in each and every market, this type of international marketing is known as ______________________.

The number of internet users in the world was over __________ in 2018.

Explain the general and associated concepts of comparative advantage theory.

A company's proprietary expertise - that which makes it different from its competitors and helps to maintain its competitive advantage - can be discussed under the following theory:

In the _________________ stage of the international product cycle theory , the United States eventually begins to import what was once a U.S.innovation.

If a country has an absolute advantage (with respect to trade) over another country, there is no reason to trade.