Exam 1: Globalization Imperative

When management of a company comes to realize the benefit of economies of scale in product development, manufacturing, and marketing by consolidating some of its Activities on a regional basis, the company is ready to move into the _____________ Stage of marketing.

The drive for globalization continues to be promoted through more free trade.

In today's global marketing, international trade and foreign production are increasingly managed on a __________________.

Countries normally do not benefit from international trade.

According to the textbook, the process of globalization does not suffocate _________________, but rather liberates them from the ideological conformity of nationalism.

When a country's per capita income is below $10,000, consumers spend most of their income on:

If international marketing is taken to the extreme, a company may establish an independent foreign subsidiary in each and every foreign market and have each of The subsidiaries operate independently of each other without any measurable Headquarters control. This special case is called:

Dominant design is synonymous with ________________________.

General Motors has a regional subsidiary, Opel headquartered in Germany, to market both GM and Opel cars with a strong European distinction. This would be an Example of ________________ marketing.

In a polycentric orientation, marketers begin to _________________ products to local conditions.

When a company such as Nike has product designing and development and special material development conducted in the United States and has manufacturing Operations in labor-abundant countries like China, the company is using ______________________ strategy.

International trade consists of exports only.

Multinational companies (MNCs) are increasingly managing the international trade flow within themselves. This phenomenon is called _________________.

One of the key underlying assumptions in the international product cycle theory is that "necessity is the mother of invention."

When a company focuses solely on its domestic market, this strategy is characterized as one employing:

With respect to the international product cycle theory, which stage's orientation is primarily domestic in nature?

The international product cycle theory consists of three stages: Introduction, growth, and decline.

When a company such as Nike wishes to pursue a comparative advantage strategy, it would have product designing and development and special material development Conducted in the United States and _________________ operations conducted in Labor-abundant countries like China or Brazil.

Regiocentric approach encourages standardized product planning within a region.

An example of intra-firm trade would be when Honda's U.S. plant ships parts back to Japan to be placed in cars which are then sold in Japan and the United States.