Question 1

Currencies that are considered to be soft currencies can be readily converted to other currencies such as the dollar,euro,or yen.

Accepted Answer

A) True 
 B)False

Question 2

In addition to agricultural products and manufactured goods,the United States is also the world's largest exporter of:

Accepted Answer

A)  computers and its accessories. 
B)  crude oil. 
C)  consumer electronics. 
D)  retailing. 
A)  computers and its accessories. 
B)  crude oil. 
C)  consumer electronics. 
D)  retailing.

Question 3

General Electric,with their business units throughout the world,can best be described as a:

Accepted Answer

A)  multidomestic exporter. 
B)  multinational corporation. 
C)  domestic corporation. 
D)  multilateral licenser. 
A)  multidomestic exporter. 
B)  multinational corporation. 
C)  domestic corporation. 
D)  multilateral licenser.

Question 4

Experts are of the opinion that CAFTA's economic impact is likely to be relatively large compared with NAFTA.

Accepted Answer

A) True 
 B)False

Question 5

Acquiring an existing firm in a country where the company wants to do business is a form of international direct investment.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A)  regional economic integration 
B)  international business expansion 
C)  free trade association 
D)  public private partnership 
A)  regional economic integration 
B)  international business expansion 
C)  free trade association 
D)  public private partnership

Question 7

Governments try to protect the private domestic industries by providing them financial support.Which of the following trade barriers refers to such financial support?

Accepted Answer

A)  Embargo 
B)  Protective tariff 
C)  Subsidy 
D)  Import quota 
A)  Embargo 
B)  Protective tariff 
C)  Subsidy 
D)  Import quota

Question 8

When a group of nations agree to buy and sell goods among themselves by abolishing tariffs and trade restrictions,the nations have created a _____.

Accepted Answer

A)  customary market 
B)  cooperation council 
C)  political union 
D)  free-trade area 
A)  customary market 
B)  cooperation council 
C)  political union 
D)  free-trade area

Question 9

An organization that provides first-time exporters with expertise in locating foreign buyers,handling paperwork,and conforming to local labeling and testing laws is called a(n):

Accepted Answer

A)  export facilitator. 
B)  export-trading company. 
C)  trade assistance corporation. 
D)  export-management company. 
A)  export facilitator. 
B)  export-trading company. 
C)  trade assistance corporation. 
D)  export-management company.

Question 10

Manufacturers control marketing and distribution of their products while selling them through an export-trading company.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following products forms a major part of U.S imports?

Accepted Answer

A)  Agricultural products 
B)  Iron ore 
C)  Medical equipments 
D)  Crude oil 
A)  Agricultural products 
B)  Iron ore 
C)  Medical equipments 
D)  Crude oil

Question 12

Companies often adapt their pricing strategy from one foreign market to another,and modify pricing when market conditions change.

Accepted Answer

A) True 
 B)False

Question 13

The ISO certification ensures that a company's goods,services,and operations meet established quality levels.Here ISO stands for _____.

Accepted Answer

A)  Industrial Specifications Organization 
B)  International Organization for Standardization 
C)  Intermediary Services Organization 
D)  Industrial Organization for Services 
A)  Industrial Specifications Organization 
B)  International Organization for Standardization 
C)  Intermediary Services Organization 
D)  Industrial Organization for Services

Question 14

A(n)_____ applies market segmentation to foreign markets by tailoring the firm's marketing mix to match specific target markets in each nation.

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 15

Firms often use more than one strategy to enter into foreign markets.

Accepted Answer

A) True 
 B)False

Question 16

Trade between U.S.subsidiaries of foreign owned firms and their parent companies is referred to as _____.

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 17

The _____ is a form of multinational economic integration that seeks to reconcile all government regulations affecting trade.

Accepted Answer

A)  common market 
B)  customary union 
C)  free-trade area 
D)  cooperation council 
A)  common market 
B)  customary union 
C)  free-trade area 
D)  cooperation council

Question 18

A firm that brings in goods produced abroad to sell domestically or to be used as components in its products is called a(n)_____.

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 19

A global marketing strategy differs from a multidomestic marketing strategy in that the global marketing strategy:

Accepted Answer

A)  does not bring the advantage of economies of scale to production and marketing activities. 
B)  is a standardized marketing mix that can be used in all markets with minimal modifications. 
C)  is tailored to meet the specific needs of the target markets in each nation. 
D)  is ideal for highly differentiated products or products that are designed on the basis of local preferences. 
A)  does not bring the advantage of economies of scale to production and marketing activities. 
B)  is a standardized marketing mix that can be used in all markets with minimal modifications. 
C)  is tailored to meet the specific needs of the target markets in each nation. 
D)  is ideal for highly differentiated products or products that are designed on the basis of local preferences.

Question 20

The Foreign Corrupt Practices Act makes it illegal to bribe a foreign official in an attempt to solicit new or repeat sales abroad.

Accepted Answer

A) True 
 B)False

Exam 8: Global Marketing

Currencies that are considered to be soft currencies can be readily converted to other currencies such as the dollar,euro,or yen.

In addition to agricultural products and manufactured goods,the United States is also the world's largest exporter of:

General Electric,with their business units throughout the world,can best be described as a:

Experts are of the opinion that CAFTA's economic impact is likely to be relatively large compared with NAFTA.

Acquiring an existing firm in a country where the company wants to do business is a form of international direct investment.

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

Governments try to protect the private domestic industries by providing them financial support.Which of the following trade barriers refers to such financial support?

When a group of nations agree to buy and sell goods among themselves by abolishing tariffs and trade restrictions,the nations have created a _____.

An organization that provides first-time exporters with expertise in locating foreign buyers,handling paperwork,and conforming to local labeling and testing laws is called a(n):

Manufacturers control marketing and distribution of their products while selling them through an export-trading company.

Which of the following products forms a major part of U.S imports?

Companies often adapt their pricing strategy from one foreign market to another,and modify pricing when market conditions change.

The ISO certification ensures that a company's goods,services,and operations meet established quality levels.Here ISO stands for _____.

A(n)_____ applies market segmentation to foreign markets by tailoring the firm's marketing mix to match specific target markets in each nation.

Firms often use more than one strategy to enter into foreign markets.

Trade between U.S.subsidiaries of foreign owned firms and their parent companies is referred to as _____.

The _____ is a form of multinational economic integration that seeks to reconcile all government regulations affecting trade.

A firm that brings in goods produced abroad to sell domestically or to be used as components in its products is called a(n)_____.

A global marketing strategy differs from a multidomestic marketing strategy in that the global marketing strategy:

The Foreign Corrupt Practices Act makes it illegal to bribe a foreign official in an attempt to solicit new or repeat sales abroad.

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

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