Question 1

When a glove manufacturer in China is allowed to sell only a certain number of plastic gloves into Japan, that firm is facing a(n)

Accepted Answer

A) tariff. 
B) embargo. 
C) restrictive product standard. 
D) quota. 
E) balance of trade restriction. 
A) tariff. 
B) embargo. 
C) restrictive product standard. 
D) quota. 
E) balance of trade restriction.

Question 2

The Common Market of the Southern Cone (MERCOSUR) includes

Accepted Answer

A) countries from southern Africa. 
B) both India and Indonesia. 
C) Australia and New Zealand. 
D) countries in South America. 
E) southern China and India. 
A) countries from southern Africa. 
B) both India and Indonesia. 
C) Australia and New Zealand. 
D) countries in South America. 
E) southern China and India.

Question 3

A trading company provides a link between buyers and sellers in different countries.

Accepted Answer

A) True 
 B)False

Question 4

Swiss-based Nestlé has taken a global approach to marketing its chocolate products. Which of the following is most easily standardized?

Accepted Answer

A) Product 
B) Promotion 
C) Distribution 
D) Advertising 
E) Price 
A) Product 
B) Promotion 
C) Distribution 
D) Advertising 
E) Price

Question 5

Once a company makes a long-term commitment to a foreign market that has a promising political and economic environment, which of the following options then emerges as a possibility?

Accepted Answer

A) Exporting 
B) Joint venture 
C) Limited exporting 
D) Direct ownership 
E) Licensing 
A) Exporting 
B) Joint venture 
C) Limited exporting 
D) Direct ownership 
E) Licensing

Question 6

A company not involved in manufacturing that brings together buyers and sellers in different countries is usually referred to as a

Accepted Answer

A) franchise. 
B) contract manufacturer. 
C) strategic intermediary. 
D) trading company. 
E) joint venture. 
A) franchise. 
B) contract manufacturer. 
C) strategic intermediary. 
D) trading company. 
E) joint venture.

Question 7

Johnston Chemicals' president is very excited about the possibility of the firm's British subsidiary having access to customers in the entire EU. He realizes that it will be some time before this area truly becomes one market, primarily because of differences in which of the following?

Accepted Answer

A) Available advertising media 
B) Cultural factors 
C) Legal challenges 
D) Technological advances 
E) Economic environmental factors 
A) Available advertising media 
B) Cultural factors 
C) Legal challenges 
D) Technological advances 
E) Economic environmental factors

Question 8

An embargo occurs when a government suspends trade with a particular country.

Accepted Answer

A) True 
 B)False

Question 9

When a firm's products sell in foreign countries with little or no effort to obtain foreign sales, the firm is engaging in

Accepted Answer

A) international marketing. 
B) global marketing. 
C) limited exporting. 
D) product licensing. 
E) unplanned exporting. 
A) international marketing. 
B) global marketing. 
C) limited exporting. 
D) product licensing. 
E) unplanned exporting.

Question 10

The United States' prohibition against importing cigars from Cuba is an example of a(n)

Accepted Answer

A) health control. 
B) quota. 
C) embargo. 
D) exchange control. 
E) import control. 
A) health control. 
B) quota. 
C) embargo. 
D) exchange control. 
E) import control.

Question 11

The unconscious reference to one's own cultural values, experiences, and knowledge when encountering new and different cultures is known as

Accepted Answer

A) the "when-in-Rome" approach. 
B) the Fraedrich Principle. 
C) cultural relativism. 
D) the self-reference principle. 
E) the self-reference criterion. 
A) the "when-in-Rome" approach. 
B) the Fraedrich Principle. 
C) cultural relativism. 
D) the self-reference principle. 
E) the self-reference criterion.

Question 12

Two-thirds of the world's total purchasing power is outside the United States.

Accepted Answer

A) True 
 B)False

Question 13

Because of continuing disputes and inconsistencies among the administrations of member states, it will be many years before the European Union truly becomes one deregulated market.

Accepted Answer

A) True 
 B)False

Question 14

At the heart of the ____ are agreements that provide legal ground rules for international commerce and trade policy.

Accepted Answer

A) United Nations 
B) GATT 
C) MERCOSUR 
D) WTO 
E) APEC 
A) United Nations 
B) GATT 
C) MERCOSUR 
D) WTO 
E) APEC

Question 15

If Caterpillar wished to reach the market in Malaysia but was leery of a direct investment in the country, it might provide a Malaysian operation with the knowledge to produce and market its products in exchange for a commission. This type of arrangement is called

Accepted Answer

A) licensing. 
B) exporting. 
C) a strategic alliance. 
D) a joint venture. 
E) contract manufacturing. 
A) licensing. 
B) exporting. 
C) a strategic alliance. 
D) a joint venture. 
E) contract manufacturing.

Question 16

Organizations that employ standardized products, promotion campaigns, and prices for all markets are practicing what is known as

Accepted Answer

A) customization. 
B) internationalization. 
C) globalization. 
D) regionalization. 
E) nationalization. 
A) customization. 
B) internationalization. 
C) globalization. 
D) regionalization. 
E) nationalization.

Question 17

The gross domestic product is

Accepted Answer

A) a measure of the profit made by all firms in a nation. 
B) the average annual earnings per person in a nation. 
C) a measure of the types of products produced by a nation. 
D) an overall measure of a nation's economic standing. 
E) a ratio of domestic products to products produced in foreign countries. 
A) a measure of the profit made by all firms in a nation. 
B) the average annual earnings per person in a nation. 
C) a measure of the types of products produced by a nation. 
D) an overall measure of a nation's economic standing. 
E) a ratio of domestic products to products produced in foreign countries.

Question 18

Which of the following centralizes all of the responsibility for international operations?

Accepted Answer

A) Product division structures 
B) Export department structures 
C) Internationally integrated structures 
D) International division structures 
E) Global matrix structures 
A) Product division structures 
B) Export department structures 
C) Internationally integrated structures 
D) International division structures 
E) Global matrix structures

Question 19

Which of the following trade alliances differs from others in its commitment to facilitating business and its practice of allowing the private sector to participate in a wide range of activities?

Accepted Answer

A) NAFTA 
B) EU 
C) MERCOSUR 
D) WTO 
E) APEC 
A) NAFTA 
B) EU 
C) MERCOSUR 
D) WTO 
E) APEC

Question 20

Maquiladoras are

Accepted Answer

A) exchange controls from central banks in Latin American countries. 
B) production facilities in north-central Mexican states. 
C) import-export agents of the Mexican government. 
D) global marketing programs established in Latin American countries. 
E) freight forwarders from Mexico. 
A) exchange controls from central banks in Latin American countries. 
B) production facilities in north-central Mexican states. 
C) import-export agents of the Mexican government. 
D) global marketing programs established in Latin American countries. 
E) freight forwarders from Mexico.

Exam 9: Reaching Global Markets

When a glove manufacturer in China is allowed to sell only a certain number of plastic gloves into Japan, that firm is facing a(n)

The Common Market of the Southern Cone (MERCOSUR) includes

A trading company provides a link between buyers and sellers in different countries.

Swiss-based Nestlé has taken a global approach to marketing its chocolate products. Which of the following is most easily standardized?

Once a company makes a long-term commitment to a foreign market that has a promising political and economic environment, which of the following options then emerges as a possibility?

A company not involved in manufacturing that brings together buyers and sellers in different countries is usually referred to as a

Johnston Chemicals' president is very excited about the possibility of the firm's British subsidiary having access to customers in the entire EU. He realizes that it will be some time before this area truly becomes one market, primarily because of differences in which of the following?

An embargo occurs when a government suspends trade with a particular country.

When a firm's products sell in foreign countries with little or no effort to obtain foreign sales, the firm is engaging in

The United States' prohibition against importing cigars from Cuba is an example of a(n)

The unconscious reference to one's own cultural values, experiences, and knowledge when encountering new and different cultures is known as

Two-thirds of the world's total purchasing power is outside the United States.

Because of continuing disputes and inconsistencies among the administrations of member states, it will be many years before the European Union truly becomes one deregulated market.

At the heart of the ____ are agreements that provide legal ground rules for international commerce and trade policy.

If Caterpillar wished to reach the market in Malaysia but was leery of a direct investment in the country, it might provide a Malaysian operation with the knowledge to produce and market its products in exchange for a commission. This type of arrangement is called

Organizations that employ standardized products, promotion campaigns, and prices for all markets are practicing what is known as

The gross domestic product is

Which of the following centralizes all of the responsibility for international operations?

Which of the following trade alliances differs from others in its commitment to facilitating business and its practice of allowing the private sector to participate in a wide range of activities?

Maquiladoras are

An Overview of Strategic Marketing

Planning Implementing and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Digital Marketing and Social Networking

Product Concepts

Developing and Managing Products

Services Marketing

Branding and Packaging

Marketing Channels and Supply Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters