Exam 12: Global Marketing Strategies

In order to grow their international business,Chong and Kelly's Engineered Demolitions,they have had to become more culturally sensitive.

The members of the European Community have limited the number of cars Japanese automakers can export into the European market.This is an example of which type of trade barrier?

Often joint ventures fail because the entrepreneur didn't:

An export trading company is:

The licensing potential for intangibles,such as technology,trademarks,etc. ,is often greater than the licensing opportunities for products.

Understanding cultural differences is one of the most important keys to international business success.

When collecting for the sale of foreign goods,a small business will use a ________,an agreement between their bank and the foreign buyer's bank that guarantees payment.

NAFTA is an agreement between the United States,Canada,Mexico,Argentina,and Chile,forming a free trade arena among these countries.

In a domestic joint venture,the businesses share the responsibility and the costs of getting export licenses and permits,and they split the venture's profits.

Discuss joint ventures,identifying the two primary types,and why a small business might consider using a joint venture to go global.

Embargo is when there is a limit on the amount of a product imported into a country.

The type of companies that are an important channel of foreign distribution for small companies just getting started in international trade or for those lacking the resources to assign their own people to foreign markets are referred to as:

Choosing the "right" joint venture partner is crucial to its ultimate success.

________ involves a transaction in which a company selling goods in a foreign country agrees to promote investment and trade in that country.

GATT will probably bring 2 million jobs and as much as $1 trillion to the U.S.economy over the next decade.

The North American Free Trade Agreement:

Issues to be addressed before entering into a joint venture include:

Which of the following is correct?

For the small business owner there are two major trade agreements,GATT and NAFTA.Explain each one and its impact on the small business "going global."

A ________ is a document the seller draws on the buyer,requiring the buyer to pay the face amount (the purchase price of the goods)either on sight (a sight draft)or on a specified date (a time draft)once the goods are shipped.