Question 1

Most of the retailing in North America is done by small, independent retailers.

Accepted Answer

A) True 
 B)False

Question 2

Compared to adapted global marketing, standardized global marketing ________.

Accepted Answer

A) adjusts promotional efforts to address cultural differences in target markets 
B) results in additional marketing and manufacturing costs 
C) relies on social media to develop customer relationships 
D) usually results in diluted brand power over time 
E) uses the same marketing mix worldwide 
A) adjusts promotional efforts to address cultural differences in target markets 
B) results in additional marketing and manufacturing costs 
C) relies on social media to develop customer relationships 
D) usually results in diluted brand power over time 
E) uses the same marketing mix worldwide

Question 3

Kola, a leading soft drink manufacturer, has recently forayed into the Middle East markets. Based on its research that consumers in the Middle East prefer sweeter drinks, it is manufacturing soft drinks with extra sugar to meet the local requirements. In this scenario, Kola is using a(n)________ strategy to market its product.

Accepted Answer

A) communication adaptation 
B) undifferentiated marketing 
C) straight product extension 
D) product invention 
E) product adaptation 
A) communication adaptation 
B) undifferentiated marketing 
C) straight product extension 
D) product invention 
E) product adaptation

Question 4

What is the North American Free Trade Agreement (NAFTA)?

Accepted Answer

In 1994, the North American Free Trade A

Question 5

According to the most recent Millward Brown Optimor brand value survey of global consumer brands, 17 of the top 20 brands were ________.

Accepted Answer

A) Canadian 
B) Swedish 
C) Dutch 
D) British 
E) American 
A) Canadian 
B) Swedish 
C) Dutch 
D) British 
E) American

Question 6

I Design is a small Romanian designer and manufacturer of recyclable bags for women. The concept is simple: a customer buys the body of the bag, the straps, and the interior lining separately. Each component comes in several materials and colours, giving customers the option of customizing their bag and of making more than one look with the same body but different straps and interiors. Young customers really liked the concept!

At first, the bags were only available in the Transylvanian hometown of the designer, Clij. Alexandreina was a graduate of the Art School and started her own small company. She found local manufacturers of the component parts and had them delivered to the back of her shop. There she assembled some examples for customers to see.

Not long after opening her shop to local customers, people would telephone from Bucharest to find out how to buy the bag. They had seen people walking around with the bag and asked where they could get one. Alexandreina had to create a secure website where nonlocal customers could purchase the bag.

Before long, she was receiving requests from all over western Europe, the United States, and even Brazil! This was good news but admittedly, Alexandreina was starting to feel a little overwhelmed and knew she would have to make some major decisions. She thought about opening additional shops in several European cities.

-What are the marketing organization options Alexandreina needs to consider?

Accepted Answer

When Alexandreina first enters global ma

Question 7

Compared to standardized global marketing, adapted global marketing ________.

Accepted Answer

A) uses the same marketing mix elements in all target markets 
B) lowers marketing costs by using home country sales teams 
C) modifies marketing strategies to meet local needs 
D) maintains uniformity across all markets 
E) results in greater brand power 
A) uses the same marketing mix elements in all target markets 
B) lowers marketing costs by using home country sales teams 
C) modifies marketing strategies to meet local needs 
D) maintains uniformity across all markets 
E) results in greater brand power

Question 8

I Design is a small Romanian designer and manufacturer of recyclable bags for women. The concept is simple: a customer buys the body of the bag, the straps, and the interior lining separately. Each component comes in several materials and colours, giving customers the option of customizing their bag and of making more than one look with the same body but different straps and interiors. Young customers really liked the concept!

At first, the bags were only available in the Transylvanian hometown of the designer, Clij. Alexandreina was a graduate of the Art School and started her own small company. She found local manufacturers of the component parts and had them delivered to the back of her shop. There she assembled some examples for customers to see.

Not long after opening her shop to local customers, people would telephone from Bucharest to find out how to buy the bag. They had seen people walking around with the bag and asked where they could get one. Alexandreina had to create a secure website where nonlocal customers could purchase the bag.

Before long, she was receiving requests from all over western Europe, the United States, and even Brazil! This was good news but admittedly, Alexandreina was starting to feel a little overwhelmed and knew she would have to make some major decisions. She thought about opening additional shops in several European cities.

-What is the best mode of entry into foreign markets for I Design?

Accepted Answer

Luckily, Romania is a member of the EU.

Question 9

Global branding and standardization result in reduced costs from economies of scale.

Accepted Answer

A) True 
 B)False

Question 10

The simplest way to enter a foreign market is through ________.

Accepted Answer

A) joint ownership 
B) exporting 
C) direct investment 
D) licensing 
E) contract manufacturing 
A) joint ownership 
B) exporting 
C) direct investment 
D) licensing 
E) contract manufacturing

Question 11

Strawberry Fizz is a renowned bottled juice manufacturer in the United States. It exports its products to Mexico, has a joint venture in Hong Kong, and owns a subsidiary in South Africa. The company has organized an export department to manage its international marketing activities. Do you think it has made the right decision? Justify your answer.

Accepted Answer

Organizing an export department is not t

Question 12

Barter involves the direct exchange of goods and services.

Accepted Answer

A) True 
 B)False

Question 13

Differentiate between standardized global marketing and adapted global marketing. Describe the advantages and disadvantages of each strategy.

Accepted Answer

Companies that operate in one or more fo

Question 14

Which of the following is a drawback of management contracting?

Accepted Answer

A) It prevents a company from setting up its own operations for a period of time. 
B) It is a high-risk method of getting into a foreign market. 
C) It yields income to the contracting firm only much later in the process. 
D) It does not provide the option of buying shares in the managed company later on. 
E) It requires a domestic firm to export its products to a foreign company. 
A) It prevents a company from setting up its own operations for a period of time. 
B) It is a high-risk method of getting into a foreign market. 
C) It yields income to the contracting firm only much later in the process. 
D) It does not provide the option of buying shares in the managed company later on. 
E) It requires a domestic firm to export its products to a foreign company.

Question 15

What are the factors that a company should consider when deciding which markets to enter?

Accepted Answer

Before going abroad, a company should tr

Question 16

Which of the following is true of free trade zones?

Accepted Answer

A) They are groups of nations organized to work toward common goals. 
B) They were formed to increase trade barriers between member nations. 
C) They were formed to mediate global trade disputes. 
D) They require member countries to establish one currency. 
E) They tend to improve imports and hinder exports. 
A) They are groups of nations organized to work toward common goals. 
B) They were formed to increase trade barriers between member nations. 
C) They were formed to mediate global trade disputes. 
D) They require member countries to establish one currency. 
E) They tend to improve imports and hinder exports.

Question 17

Which of the following is true of exporting?

Accepted Answer

A) It is the most complex way to enter a foreign market. 
B) It involves the association of companies with host country partners. 
C) It typically requires products to be extensively modified for the foreign market. 
D) It involves the least change in a company's product lines. 
E) It involves a huge investment if done through independent international distributors. 
A) It is the most complex way to enter a foreign market. 
B) It involves the association of companies with host country partners. 
C) It typically requires products to be extensively modified for the foreign market. 
D) It involves the least change in a company's product lines. 
E) It involves a huge investment if done through independent international distributors.

Question 18

Foreign-based production facilities offer many advantages to an investing company if the foreign market is small.

Accepted Answer

A) True 
 B)False

Question 19

In a global value delivery network, the second link moves company products to ________.

Accepted Answer

A) distribution centres 
B) wholesalers 
C) market entry points 
D) points of production 
E) final buyers 
A) distribution centres 
B) wholesalers 
C) market entry points 
D) points of production 
E) final buyers

Question 20

Which of the following is an advantage of management contracting?

Accepted Answer

A) It involves the least change in a company's product lines. 
B) It allows a contracting firm to set up its own operations at the beginning of the contract. 
C) It is the simplest way to enter a foreign market. 
D) It yields income from the beginning of the contract. 
E) It gives a contracting firm an option to buy shares in the managed company immediately. 
A) It involves the least change in a company's product lines. 
B) It allows a contracting firm to set up its own operations at the beginning of the contract. 
C) It is the simplest way to enter a foreign market. 
D) It yields income from the beginning of the contract. 
E) It gives a contracting firm an option to buy shares in the managed company immediately.

Most of the retailing in North America is done by small, independent retailers.

Compared to adapted global marketing, standardized global marketing ________.

What is the North American Free Trade Agreement (NAFTA)?

According to the most recent Millward Brown Optimor brand value survey of global consumer brands, 17 of the top 20 brands were ________.

Compared to standardized global marketing, adapted global marketing ________.

Global branding and standardization result in reduced costs from economies of scale.

The simplest way to enter a foreign market is through ________.

Barter involves the direct exchange of goods and services.

Differentiate between standardized global marketing and adapted global marketing. Describe the advantages and disadvantages of each strategy.

Which of the following is a drawback of management contracting?

What are the factors that a company should consider when deciding which markets to enter?

Which of the following is true of free trade zones?

Which of the following is true of exporting?

Foreign-based production facilities offer many advantages to an investing company if the foreign market is small.

In a global value delivery network, the second link moves company products to ________.

Which of the following is an advantage of management contracting?

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Sustainable Marketing, Social Responsibility and Ethics

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behaviour

Segmentation, Targeting, and Positioning

Developing and Managing Products and Services

Brand Strategy and Management

Pricing: Understanding and Capturing Customer Value

Marketing Channels

Retailing and Wholesaling

Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Filters

Exam 16: The Global Marketplace

Most of the retailing in North America is done by small, independent retailers.

Compared to adapted global marketing, standardized global marketing ________.

What is the North American Free Trade Agreement (NAFTA)?

According to the most recent Millward Brown Optimor brand value survey of global consumer brands, 17 of the top 20 brands were ________.

Compared to standardized global marketing, adapted global marketing ________.

Global branding and standardization result in reduced costs from economies of scale.

The simplest way to enter a foreign market is through ________.

Barter involves the direct exchange of goods and services.

Differentiate between standardized global marketing and adapted global marketing. Describe the advantages and disadvantages of each strategy.

Which of the following is a drawback of management contracting?

What are the factors that a company should consider when deciding which markets to enter?

Which of the following is true of free trade zones?

Which of the following is true of exporting?

Foreign-based production facilities offer many advantages to an investing company if the foreign market is small.

In a global value delivery network, the second link moves company products to ________.

Which of the following is an advantage of management contracting?

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Sustainable Marketing, Social Responsibility and Ethics

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behaviour

Segmentation, Targeting, and Positioning

Developing and Managing Products and Services

Brand Strategy and Management

Pricing: Understanding and Capturing Customer Value

Marketing Channels

Retailing and Wholesaling

Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Filters