Exam 19: The Global Marketplace

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Changing promotions for each local market is known as ________.

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In a raw material exporting economy,the vast majority of people engage in simple agriculture.

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Describe the purpose,roles,and achievements of GATT and the World Trade Organization.

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The biggest involvement in a foreign market comes through direct investment-the development of foreign-based assembly or manufacturing facilities.

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The global name for Microsoft's new operating system,Vista,turns out to be a disparaging term for a frumpy old woman in Latvia.Microsoft must adjust the name.This is an example of ________.

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Hilton helps others run their hotels by exporting know-how services rather than products.This type of joint venture is known as ________.

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Explain why a global company would need to make adjustments to a highly standardized promotion campaign for different markets.

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If a firm moves into joint ventures and direct investments,it will eventually need to create international divisions or subsidiaries.

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John and his boss are in conflict.His boss wants to keep things simple while John wants to expand and go global.John believes that firms that play it safe and do not enter the global market are likely to lose their chances to enter other markets ________.

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World product groups,geographical organizations,and international subsidiaries are all options for organizing a(n)________.

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Deciding which markets to enter is the first major decision in international marketing.

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GATT is a treaty designed to promote world trade by reducing tariffs and other international trade barriers.

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________ industries are safe from foreign competition.

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Which of the following is a geographic factor that a company should consider before deciding to enter and international market?

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________ involves less investment because the firm does not require an overseas marketing organization or network.It also involves less risk.

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