Exam 8: Global Marketing

The activities of the World Trade Organization thus far have focused on dispute resolution rather than reducing trade barriers as:

Establishing a free trade area is the simplest way to achieve multinational economic integration.

What are the economic factors that determine a nation's prospect as a host for international business expansion?

A franchisee receives the right to sell the franchiser's products and to use the franchiser's name as well as a variety of marketing,management,and other services.

The United States is the world's largest exporter of goods and services followed by China.

The ability to adapt products to local preferences and culture is the key to success in foreign markets.

Trade between U.S.companies and their subsidiaries or between U.S.subsidiaries of foreign-owned firms is referred to as:

VB group,a firm in South Africa,is a leading supplier of African agricultural products to the world.It buys products from the domestic producers and resells them in international markets.The company maintains complete control over the marketing and distribution of the products in the foreign markets.VB group is an example of a(n)_____.

Exchange control is an administrative barrier to international trade that:

Which of the following factors is most likely to be included in political environment?

Which of the following is one of the major policy initiatives of the WTO?

Administrative barriers are more subtle than tariffs.

Licensing is an attractive entry strategy for small firms as it does not involve capital outlays.

The two largest trading partners of the United States are Canada and Mexico.

Which of the following agreements has created opportunities for U.S.financial,legal,and accounting firms by including services under international trading rules and has phased-out import quotas on textiles and clothing from developing nations?

Which of the following organizations was established as an outcome of GATT?

An importer is a firm that sells goods manufactured domestically in foreign markets.

Tru-Shine is a cleaning company in the United States that offers various cleaning products and services.After gaining popularity in the United States,the company decided to expand its business in other American nations.The company entered into an agreement with some local cleaning companies in Canada where the local companies would sell its products and services under the same trade name.Tru-Shine also agreed to provide the training and necessary equipments and supplies to the local companies.In this example,the strategy used by Tru-Shine for entering foreign markets is an example of _____.

Which of the following trade barriers puts a complete ban on the import of specified products?

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