Question 1

A multidomestic marketing strategy can be used by a firm in all of its domestic and foreign markets without any modifications.

Accepted Answer

A) True 
 B)False

Question 2

Revenue tariffs are designed to raise funds for the importing government.

Accepted Answer

A) True 
 B)False

Question 3

A firm which has significant operations and marketing activities outside its home country is referred to as 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 4

_____ is a contractual arrangement in which a wholesaler or retailer agrees to meet the operating requirements of a manufacturer.

Accepted Answer

A)  Direct investment 
B)  Franchising 
C)  Value engineering 
D)  Business process reengineering 
A)  Direct investment 
B)  Franchising 
C)  Value engineering 
D)  Business process reengineering

Question 5

Developing a completely new product to take advantage of a unique foreign opportunity is called product:

Accepted Answer

A)  prototyping. 
B)  commercialization. 
C)  invention. 
D)  origination. 
A)  prototyping. 
B)  commercialization. 
C)  invention. 
D)  origination.

Question 6

Foreign licensing agreements are valid for a specified time period after which they need to be revised or renewed.

Accepted Answer

A) True 
 B)False

Question 7

Jason's Petrochems is a firm that brings in chemical intermediates such as organic fertilizers and organic solvents from different countries and processes them in its labs before selling it in its domestic market.The firm also uses these chemical intermediates in the production of its various fertilizers and solvents.Jason's Petrochems can be regarded as a(n)_____.

Accepted Answer

A)  EMC contractor 
B)  licensee 
C)  franchisee 
D)  importer 
A)  EMC contractor 
B)  licensee 
C)  franchisee 
D)  importer

Question 8

The Organization of Petroleum Exporting Countries (OPEC)is a collective export organization.

Accepted Answer

A) True 
 B)False

Question 9

What is importing? What are the factors that marketers need to consider while making import decisions?

Accepted Answer

Importing is a form of a global marketin

Question 10

A firm with significant operations and marketing activities outside its home country is referred to as a(n)_____.

Accepted Answer

A)  monopoly 
B)  active exporter 
C)  multinational corporation 
D)  overseas marketer 
A)  monopoly 
B)  active exporter 
C)  multinational corporation 
D)  overseas marketer

Question 11

The _____ is a major player in the international legal environment,that lends foreign exchange to nations that require it to conduct international trade.

Accepted Answer

A)  Collective Security Treaty Organization (CSTO) 
B)  International Monetary Fund (IMF) 
C)  Amazon Cooperation Treaty Organization (ACTO) 
D)  World Trade Organization (WTO) 
A)  Collective Security Treaty Organization (CSTO) 
B)  International Monetary Fund (IMF) 
C)  Amazon Cooperation Treaty Organization (ACTO) 
D)  World Trade Organization (WTO)

Question 12

_____ are trade restrictions that limit the number of units of products in certain categories that can cross a country's boundary for resale.

Accepted Answer

A)  Protective tariffs 
B)  Embargoes 
C)  Import quotas 
D)  Subsidies 
A)  Protective tariffs 
B)  Embargoes 
C)  Import quotas 
D)  Subsidies

Question 13

Describe the World Trade Organization (WTO).Discuss its role and policies in regulating trade barriers.

Accepted Answer

The World Trade Organization (WTO)is a 1

Question 14

Governments use import quotas to protect domestic industry and employment and preserve foreign exchange.

Accepted Answer

A) True 
 B)False

Question 15

Many marketing experts believe that most products require multidomestic marketing strategies to give them a realistic global marketing appeal.

Accepted Answer

A) True 
 B)False

Question 16

In the United States it is mandatory for firms to inform the customers if the food is grown using genetically modified organisms.

Accepted Answer

A) True 
 B)False

Question 17

The North American Free Trade Agreement (NAFTA)is a trade accord that removes trade barriers among:

Accepted Answer

A)  countries in Western hemisphere and North, Central, and South America. 
B)  Canada, Mexico, and the United States. 
C)  The United States, Dominican Republic, and Central American nations. 
D)  The United States and the European Union. 
A)  countries in Western hemisphere and North, Central, and South America. 
B)  Canada, Mexico, and the United States. 
C)  The United States, Dominican Republic, and Central American nations. 
D)  The United States and the European Union.

Question 18

A noticeable trend toward multinational economic integration has developed since the end of World War II.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A)  Business process reengineering 
B)  Exporting 
C)  Sole sourcing 
D)  Social referencing 
A)  Business process reengineering 
B)  Exporting 
C)  Sole sourcing 
D)  Social referencing

Question 20

Which of the following is one of the reasons that leads to low levels of risk for foreign marketers in the United States?

Accepted Answer

A)  Low labor costs 
B)  Membership of NAFTA 
C)  Lack of government regulations 
D)  Political stability 
A)  Low labor costs 
B)  Membership of NAFTA 
C)  Lack of government regulations 
D)  Political stability

Exam 8: Global Marketing

A multidomestic marketing strategy can be used by a firm in all of its domestic and foreign markets without any modifications.

Revenue tariffs are designed to raise funds for the importing government.

A firm which has significant operations and marketing activities outside its home country is referred to as a(n)_____.

_____ is a contractual arrangement in which a wholesaler or retailer agrees to meet the operating requirements of a manufacturer.

Developing a completely new product to take advantage of a unique foreign opportunity is called product:

Foreign licensing agreements are valid for a specified time period after which they need to be revised or renewed.

The Organization of Petroleum Exporting Countries (OPEC)is a collective export organization.

What is importing? What are the factors that marketers need to consider while making import decisions?

A firm with significant operations and marketing activities outside its home country is referred to as a(n)_____.

The _____ is a major player in the international legal environment,that lends foreign exchange to nations that require it to conduct international trade.

_____ are trade restrictions that limit the number of units of products in certain categories that can cross a country's boundary for resale.

Describe the World Trade Organization (WTO).Discuss its role and policies in regulating trade barriers.

Governments use import quotas to protect domestic industry and employment and preserve foreign exchange.

Many marketing experts believe that most products require multidomestic marketing strategies to give them a realistic global marketing appeal.

In the United States it is mandatory for firms to inform the customers if the food is grown using genetically modified organisms.

The North American Free Trade Agreement (NAFTA)is a trade accord that removes trade barriers among:

A noticeable trend toward multinational economic integration has developed since the end of World War II.

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

Which of the following is one of the reasons that leads to low levels of risk for foreign marketers in the United States?

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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