Exam 6: Serving Global Markets

An exporter will sell domestically produced goods in foreign markets.

In general, tariffs are imposed to raise revenue, protect prices of domestic products, and control access to markets.

All world nations, no matter how large or small, are automatically considered to be part of the World Trade Organization.

The International Monetary Fund is responsible for defining and classifying which of the following transactions?

Nearly all trade officials of member countries are in agreement as to the direction the WTO should follow in pursuing its major policy initiatives.

The Canadian wine industry went global to increase international sales as well as domestic sales.

What is a firm with significant operations and marketing activities outside its home country called?

What is an organization called that provides first-time exporters with expertise in locating foreign buyers, handling paperwork, and conforming to local labelling and testing laws?

Free trade areas have no integration of nations, just the removal of barriers to trade, whereas the common market attempts to integrate the political, social, and economic elements of nations, along with their infrastructures.

Which of the following is an advantage of foreign licensing over exporting?

What is the international market-entry strategy that involves high levels of involvement and risk potential and also offers a competitive advantage over other alternatives?

Which of the following BEST describes IBM and General Electric?

A North American company has created a North American product ad that includes the use of a handshake. The use of a handshake may be seen as offensive by some countries overseas, where the product is also sold.Which of the following is MOST likely?

Many western firms have set up political risk assessment (PRA) units to help evaluate the political risks of foreign marketplaces.

Soft currencies are methods of exchange that cannot be readily converted into hard currencies such as the dollar, euro, or yen.

For firms that experience success in exporting, the next logical step is international direct investment due to the low risk potential and low level of required involvement.

What is a complete ban on the import of a product known as?

Before entering a country, what is the underlying foundation marketers need to determine it has?

A multi-domestic marketing strategy typically uses several different marketing strategies within a single country's borders.

In the future, marketing opportunities in developed countries will far exceed marketing opportunities in lesser-developed countries.