Exam 19: The Global Marketplace

A(n) ________ community is a group of nations organized to work toward common goals in the regulation of international trade.

Which of the following was a result of the Uruguay Round of global WTO trade talks?

The simplest way to enter a foreign market is through direct investment.

The biggest involvement in a foreign market comes through exporting-entering foreign markets by selling goods produced in the company's home country.

The EU helped unify Europe by adopting the euro as a common currency. Adopting a common currency has caused problems as stronger economic countries have had to prop up all the following European countries EXCEPT ________.

Bias against bids made by American companies is an example of a(n) ________.

Kellogg ads in the United States promote the taste and nutrition of Kellogg's cereals versus competitors' brands. In France, where consumers drink little milk and eat little for breakfast, Kellogg's ads must convince consumers that cereals are a tasty and healthful breakfast. Which marketing strategy is being followed by Kellogg?

________ involves essentially using the same marketing strategy approaches and marketing mix worldwide

Since the global company sees the world as one market, it raises capital, obtains components and materials, and manufactures and markets its goods ________.

Explain why some critics worry that American multinationals are causing countries around the globe to lose their individual identities. Give an example of the "Americanizing" of the world's cultures.

Why is a company unlikely to set a uniform price all around the world?

Campbell Soup recently joined forces with Hong Kong-based Swire Pacific to form an entity called Campbell Swire to better distribute the company's soups in China. This is an example of ________.

An advantage of licensing to a company is that it ________, while the licensee gains production expertise or a well-known product without having to start from scratch.

The United States and Norway are examples of ________ economies.

What are two possible reasons that management contracting is prevalent in the hotel industry?

Which of the following is an example of an industrial economy?

Business norms vary from country to country. A company will likely be more successful in expanding internationally if it understands cultural traditions, preferences, and behaviors in the target countries.

Growing Green, a U.S. company that markets organic and environmentally friendly gardening and landscaping supplies and equipment, wants to expand the business internationally. Growing Green managers are currently examining the rules imposed by the WTO and the agreements made by NAFTA and the EU. In which stage of the international marketing process is Growing Green?

The EU acts as an umbrella organization that oversees GATT and mediates global disputes.

Immediately after deciding which markets to enter, the company should determine ________.