Exam 11: The Asia Pacific Region

The United States has granted NTR (normal trade relations) status to Vietnam.

What are BOPMs? According to C. K. Prahalad and his associates introduced a new concept into the discussion of developing countries and markets-bottom-of-the-pyramid markets (BOPMs)-consisting of the 4 billion people across the globe with annual incomes of less than $1,200. These markets are not necessarily defined by national borders but rather by the pockets of poverty across countries. These 4 billion consumers are, of course, concentrated in the LDCs and LLDCs, as defined in the U.N. classification scheme, particularly in South Asia and sub-Sahara Africa. Prahalad's basic point is that these consumers have been relatively ignored by international marketers because of misconceptions about their lack of resources, both in terms of money and technology, and the lack of appropriateness of products and services usually developed for more affluent consumers. C. K. Prahalad, why have they been ignored by international marketers?

C. K. Prahalad has cited two primary misconceptions behind the international marketers ignoring the bottom-of-the-pyramid markets. One of the reasons is that the products and services developed for more affluent consumers are not appropriate for these markets. Which of the following is the other misconception?

Aside from the United States, _____ is the most important single national market.

The United States is now Japan's most important trading partner, even ahead of China.

_____ is known as China's Silicon Valley.

Discuss APEC's role in international trade.

Which of the following is one of the nations referred to as the Four Asian Tigers?

ASEAN+3 is a forum for ASEAN ministers plus ministers from China, Japan, and _____.

Hong Kong was designated as China's first Special Economic Zone.