Exam 6: Serving Global Markets

When entering a foreign market, care must be taken to ensure that product names and advertising slogans are translated correctly and do not cause misunderstandings among foreign consumers.What element of the international environment does this illustrate?

Franchising is a low-risk way to enter a market because the concept is already proven.

Which of the following is NOT a reason why Canada is an attractive market for international marketers?

What is the goal of the EU?

Countertrading can be utilized as a way for a country to control its balance-of-trade problems.

A major key to achieving success in foreign markets is a firm's ability to adapt its products to local preferences.

What are many Western firms utilizing in order to stay abreast of changing political and legal environments that exist in various foreign countries?

More than seven of every ten dollars included in Canada's Gross Domestic Product comes from services.

Administrative trade barriers include which of the following?

In order for a marketer to operate efficiently in a foreign country, what must be in place and stable to facilitate trade?

What idea is the basis for the European Union currency, the euro?

When planning product and/or promotion strategies for other countries, marketers can choose from among three strategies called straight extension, product adaptation, and promotion adaptation.

List the reasons that Canada is attractive to foreign marketers.

Growth in the services of developing markets is MOST likely to continue due to which of the following?

Explain the difference between a protective tariff and a revenue tariff.What is dumping?

What is the term for an arrangement in which a small firm teams with, and serves as a subcontractor for, a larger international company on a foreign project?

Marketing abroad requires only one step: all rules and regulations for bringing the product to market must be researched and considered.

In addition to natural resources, what exports are equally as important to Canada's economy?

Outboard motors that are sold in Canada primarily as recreational products may be sold in a foreign country as basic transportation equipment.Such a practice would constitute product adaptation in the foreign market.

Pizza Hut franchises stores in areas with Arab and Indian populations.To accommodate dietary restrictions, the traditional North American recipes are modified.Consequently, the advertising, packaging, and promotional message will change.Marketers refer to these changes as dual adaptation.