Question 1

Which of the following factors makes United States an attractive target for foreign markets?

Accepted Answer

A)  High excise duties and revenue tariffs 
B)  Better profits due to reduced labor costs 
C)  High levels of discretionary income 
D)  Restrictions on international direct investment 
A)  High excise duties and revenue tariffs 
B)  Better profits due to reduced labor costs 
C)  High levels of discretionary income 
D)  Restrictions on international direct investment

Question 2

The Russian government imposed a ban on the wines imported from Georgia,claiming that heavy metals and pesticides were found in their products.The government also claimed that the wine samples did not comply with their sanitary standards.This is an example of a(n)_____.

Accepted Answer

A)  revenue tariff 
B)  embargo 
C)  import quota 
D)  exchange control 
A)  revenue tariff 
B)  embargo 
C)  import quota 
D)  exchange control

Question 3

The _____ is a trade bloc that establishes a free-trade area and a uniform tariff for trade with nonmember nations.

Accepted Answer

A)  common market 
B)  common area of administration 
C)  customs union 
D)  cooperation council 
A)  common market 
B)  common area of administration 
C)  customs union 
D)  cooperation council

Question 4

The _____ serves as a forum for trade negotiations,and mediates trade disputes between countries throughout the world.

Accepted Answer

A)  FTAA 
B)  GATT 
C)  EU 
D)  WTO 
A)  FTAA 
B)  GATT 
C)  EU 
D)  WTO

Question 5

A manufacturing firm retains more control over the export process when it deals with an export trading company rather than dealing with an export management company.

Accepted Answer

A) True 
 B)False

Question 6

The ISO 9000 series sets standards for operations that minimize harm to the environment.

Accepted Answer

A) True 
 B)False

Question 7

A global marketing strategy works well for products with strong,universal appeal and for high-tech brands and luxury products.

Accepted Answer

A) True 
 B)False

Question 8

Subcontracting is a type of contractual agreement that assigns the production of goods or services to local or smaller firms.

Accepted Answer

A) True 
 B)False

Question 9

The largest operating multinational economic community in the world is the FTAA,linking 34 countries and 800 million people in the Western Hemisphere.

Accepted Answer

A) True 
 B)False

Question 10

The practice of selling a product in a foreign market at a price lower than it commands in the producer's domestic market is called _____.

Accepted Answer

A)  global sourcing 
B)  dumping 
C)  sole sourcing 
D)  value engineering 
A)  global sourcing 
B)  dumping 
C)  sole sourcing 
D)  value engineering

Question 11

Which of the following is true regarding the North American Free Trade Agreement (NAFTA)?

Accepted Answer

A)  The member nations of the NAFTA have agreed to create a trade bloc similar to that of the European Union. 
B)  The major aim of the NAFTA is to increase the level of literacy among the United States, Mexico, and Canada. 
C)  NAFTA has been successful in creating the Free Trade Area of the Americas, the world's largest free trade zone. 
D)  The member nations of NAFTA focus mainly on economic cooperation rather than on political integration. 
A)  The member nations of the NAFTA have agreed to create a trade bloc similar to that of the European Union. 
B)  The major aim of the NAFTA is to increase the level of literacy among the United States, Mexico, and Canada. 
C)  NAFTA has been successful in creating the Free Trade Area of the Americas, the world's largest free trade zone. 
D)  The member nations of NAFTA focus mainly on economic cooperation rather than on political integration.

Question 12

A multidomestic marketing approach brings the advantage of economies of scale to production and marketing activities.

Accepted Answer

A) True 
 B)False

Question 13

Dumping is the practice of selling a large volume of product into a foreign market at prices lower than its own domestic market.

Accepted Answer

A) True 
 B)False

Question 14

A nation's size,per capita income,and stage of economic development determine its prospects as a host for international business expansion.

Accepted Answer

A) True 
 B)False

Question 15

The product invention strategy helps a firm take advantage of unique foreign market opportunities.

Accepted Answer

A) True 
 B)False

Question 16

Forming a joint venture is the best way to enter into foreign markets that are regarded as developing economies.

Accepted Answer

A) True 
 B)False

Question 17

_____ is a form of global marketing that involves continuous efforts in marketing a firm's merchandise to customers in other countries.

Accepted Answer

A) exporting 
B) WTO 
C) infrastructure 
D) exchange rate 
E) tariff
F)import quota
G)dumping
H)ISO certification
I)foreign licensing
J)multinational corporation
K)global marketing strategy
L)multidomestic marketing strategy
M)countertrade
N)related party trade
O)exchange control
P)customs union
Q)CAFTA-DR
R)importer
S)embargo
T)franchise 
A) exporting 
B) WTO 
C) infrastructure 
D) exchange rate 
E) tariff
F)import quota
G)dumping
H)ISO certification
I)foreign licensing
J)multinational corporation
K)global marketing strategy
L)multidomestic marketing strategy
M)countertrade
N)related party trade
O)exchange control
P)customs union
Q)CAFTA-DR
R)importer
S)embargo
T)franchise

Question 18

_____ is a contractual agreement that grants marketers in other countries the right to distribute a firm's merchandise or to use its trademark,patent,or process in a specified geographic area.

Accepted Answer

A)  Value engineering 
B)  Sole sourcing 
C)  Offset agreement 
D)  Foreign licensing 
A)  Value engineering 
B)  Sole sourcing 
C)  Offset agreement 
D)  Foreign licensing

Question 19

Honda,a Japanese firm,builds a factory in Alabama to make minivans to be marketed in the United States.Which of the following strategies of entering into a foreign market is best represented by this example?

Accepted Answer

A)  Subcontracting 
B)  Franchising 
C)  International direct investment 
D)  Licensing 
A)  Subcontracting 
B)  Franchising 
C)  International direct investment 
D)  Licensing

Question 20

Why is global marketing important for a nation and its marketers?

Accepted Answer

Global marketing and trade is vital to a

Exam 8: Global Marketing

Which of the following factors makes United States an attractive target for foreign markets?

The Russian government imposed a ban on the wines imported from Georgia,claiming that heavy metals and pesticides were found in their products.The government also claimed that the wine samples did not comply with their sanitary standards.This is an example of a(n)_____.

The _____ is a trade bloc that establishes a free-trade area and a uniform tariff for trade with nonmember nations.

The _____ serves as a forum for trade negotiations,and mediates trade disputes between countries throughout the world.

A manufacturing firm retains more control over the export process when it deals with an export trading company rather than dealing with an export management company.

The ISO 9000 series sets standards for operations that minimize harm to the environment.

A global marketing strategy works well for products with strong,universal appeal and for high-tech brands and luxury products.

Subcontracting is a type of contractual agreement that assigns the production of goods or services to local or smaller firms.

The largest operating multinational economic community in the world is the FTAA,linking 34 countries and 800 million people in the Western Hemisphere.

The practice of selling a product in a foreign market at a price lower than it commands in the producer's domestic market is called _____.

Which of the following is true regarding the North American Free Trade Agreement (NAFTA)?

A multidomestic marketing approach brings the advantage of economies of scale to production and marketing activities.

Dumping is the practice of selling a large volume of product into a foreign market at prices lower than its own domestic market.

A nation's size,per capita income,and stage of economic development determine its prospects as a host for international business expansion.

The product invention strategy helps a firm take advantage of unique foreign market opportunities.

Forming a joint venture is the best way to enter into foreign markets that are regarded as developing economies.

_____ is a form of global marketing that involves continuous efforts in marketing a firm's merchandise to customers in other countries.

_____ is a contractual agreement that grants marketers in other countries the right to distribute a firm's merchandise or to use its trademark,patent,or process in a specified geographic area.

Honda,a Japanese firm,builds a factory in Alabama to make minivans to be marketed in the United States.Which of the following strategies of entering into a foreign market is best represented by this example?

Why is global marketing important for a nation and its marketers?

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Relationship Marketing and Customer Relationship Management (CRM)

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters