Exam 1: Globalization Imperative

Explain intra-firm trade. Give an example to illustrate your answer.

In the _________________ stage of the international product cycle theory , the United States eventually begins to import what was once a U.S. innovation.

Assume that the United States can make computers better than any other country. Also assume that China can make rubber shoes better than any other country. Then in this example it may be said that the United States has a _______________ advantage in making computers and China has a ________________ advantage in making rubber shoes. Note: one term can be used in both blanks.

___________________ theory states that a country can gain from engaging in trade even if it has an absolute advantage or disadvantage.

Dominant design leads to a "regional design".

The _________________ argument says that two countries cannot engage in trade if one country has a(an) ___________________ over the other country. Note: the phrase Will fit in both blanks.

Once export marketing becomes an integral part of a company's marketing activity, it will begin to seek new directions for growth and international expansion. This stage is called ________________________.

Technological innovation can provide an innovative company a competitive advantage, or _____________________ over its competitors both at home and Abroad.

Although it is not widely known, foreign production constitutes a much larger portion of international business than __________________________________.

Responding to changes in the market and competitive environments by moving forward in a ________________ manner anticipates changes and then formulates Strategies.

A large domestic market such as in the United States makes it possible for U.S. companies to enjoy _________________ in mass production and mass marketing, Enabling them to become lower cost producers than their competition in foreign Countries.

Explain the differences between international trade and international business. How does the United States typically participate in international business?

In the consumption process, people around the world with per capita income of $20,000 and above have a pretty good _________________:

_____________ is essentially a creative corporate activity involving the planning and execution of the conception, pricing, promotion, and distribution of ideas, products, And services in an exchange that not only satisfy customers' present needs but also Anticipates and creates their future needs at a profit.

Marketing executives should have a thorough understanding of not only the availability of various resources but also emerging consumer and societal needs on a ____________________.

A company's proprietary expertise that makes it different its competitors and helps to maintain its competitive advantage can be discussed under the following theory:

Saturation of domestic markets in the industrialized parts of the world has forced many companies to look for marketing opportunities beyond their _______________.

Export marketing consists of:

Global marketing refers to all of the marketing activities except:

If a country has an absolute advantage (with respect to trade) over another country, there is no reason to trade.