Question 1

In a ________,a firm gives another firm the right to produce and market its product in a specific country or region in return for royalties on goods sold.

Accepted Answer

A) licensing agreement 
B) strategic alliance 
C) joint venture 
D) marketing mix alliance 
E) direct investment

Question 2

The gross domestic product (GDP)is the overall pattern of changes or fluctuations of an economy,such as prosperity,recession,and recovery.

Accepted Answer

A) True 
 B)False

Question 3

The Euro is the currency used by ________.

Accepted Answer

A) NAFTA 
B) MERCOSUR 
C) the EU 
D) the WTO 
E) GATT

Question 4

The ________ Act (1914)created the regulatory body that enforces laws against deceptive advertising and product labeling regulations.

Accepted Answer

A) Federal Trade Commission 
B) Lanham Trademark 
C) Fair Packaging and Labeling 
D) Consumer Products Safety Commission 
E) Robinson-Patman

Question 5

Toyota has opened manufacturing plants in the United States and hires local workers to run these locations.Explain what the local content rules have to do with Toyota increasing its presence in the United States.

Accepted Answer

The answer of Toyota has opened manufacturing plants in the...

Question 6

In marketing,the tendency to prefer products or people of one's own culture over those from other countries is called nationalism.

Accepted Answer

A) True 
 B)False

Question 7

After exporting,the next level of commitment a firm can make to a foreign market is a contractual agreement.Two of the most common types of such agreements are ________.

Accepted Answer

A) contract manufacturing and contract marketing 
B) contract manufacturing and strategic alliances 
C) joint ventures and franchising 
D) warehousing and financing 
E) licensing and franchising

Question 8

What are the two purposes of the laws governing American business? Describe how at least two regulatory agencies fulfill these purposes.

Accepted Answer

The answer of What are the two purposes of the...

Question 9

In the British Isles,Guinness brewery was given the right to produce and market Budweiser beer by Anheuser-Busch,its U.S.brand owner.Because Guinness pays Anheuser-Busch royalties for the use of its brand,this is an example of a(n)________.

Accepted Answer

A) licensing agreement 
B) export merchant 
C) joint venture 
D) marketing mix alliance 
E) direct investment by Anheuser-Busch

Question 10

In a(n)________ structure,one seller controls a market.

Accepted Answer

A) monopoly 
B) oligopoly 
C) monopolistic competition 
D) perfect competition 
E) natural competition

Question 11

When considering the Four Ps in international marketing,advocates of ________ focus on the unique characteristics of cultures and argue for products and promotional messages tailored to each culture.

Accepted Answer

A) nationalization 
B) standardization 
C) localization 
D) expropriation 
E) ethnocentricism

Question 12

Which of the following countries has the largest total GDP?

Accepted Answer

A) China 
B) Japan 
C) the United States 
D) Spain 
E) Hungary

Question 13

Wrigley's chewing gum is the same product whether you buy it in Japan,Great Britain,Brazil,or the United States.Wrigley's sells the same products around the world.It has adopted a(n)________ strategy.

Accepted Answer

A) product adaptation 
B) localization 
C) straight extension 
D) product invention 
E) ethnocentric

Question 14

In a(n)________ structure,there are many sellers,each having slightly different products and each having only a small share of the market.

Accepted Answer

A) monopoly 
B) oligopoly 
C) monopolistic competition 
D) perfect competition 
E) natural competition

Question 15

The ________,a United States regulatory agency,enforces laws and regulations on foods,drugs,cosmetics,and veterinary products.Marketers of pharmaceuticals must get approval from this agency before introducing products to the market.

Accepted Answer

A) Food and Drug Administration 
B) Environmental Protection Agency 
C) Federal Communications Commission 
D) Federal Trade Commission 
E) Consumer Product Safety Commission

Question 16

Give an example of a cultural value and a social norm.

Accepted Answer

The answer of Give an example of a cultural value...

Question 17

The U.S.government proposed a tariff against some Chinese textiles and clothing when the trade deficit with China reached $103 billion.Explain what the United States was trying to achieve through this action.

Accepted Answer

The answer of The U.S.government proposed a tariff against some...

Question 18

A country that barters for imported products rather than paying in cash likely does so because its currency is convertible.

Accepted Answer

A) True 
 B)False

Question 19

According to Transparency International,firms from which of the following countries are LEAST likely to pay bribes?

Accepted Answer

A) Germany 
B) the United Kingdom 
C) China 
D) Mexico 
E) Canada

Question 20

The ________ (2003)was established by the Federal Trade Commission to allow consumers to limit the number of telemarketing calls they receive.

Accepted Answer

A) National Do Not Call Registry 
B) Child Protection Act 
C) Federal Communications Commission 
D) Consumer Products Safety Commission Act 
E) Robinson-Patman Act

Exam 3: Thrive in the Marketing Environment: the World Is Flat

In a ________,a firm gives another firm the right to produce and market its product in a specific country or region in return for royalties on goods sold.

The gross domestic product (GDP)is the overall pattern of changes or fluctuations of an economy,such as prosperity,recession,and recovery.

The Euro is the currency used by ________.

The ________ Act (1914) created the regulatory body that enforces laws against deceptive advertising and product labeling regulations.

Toyota has opened manufacturing plants in the United States and hires local workers to run these locations.Explain what the local content rules have to do with Toyota increasing its presence in the United States.

In marketing,the tendency to prefer products or people of one's own culture over those from other countries is called nationalism.

After exporting,the next level of commitment a firm can make to a foreign market is a contractual agreement.Two of the most common types of such agreements are ________.

What are the two purposes of the laws governing American business? Describe how at least two regulatory agencies fulfill these purposes.

In the British Isles,Guinness brewery was given the right to produce and market Budweiser beer by Anheuser-Busch,its U.S.brand owner.Because Guinness pays Anheuser-Busch royalties for the use of its brand,this is an example of a(n) ________.

In a(n) ________ structure,one seller controls a market.

When considering the Four Ps in international marketing,advocates of ________ focus on the unique characteristics of cultures and argue for products and promotional messages tailored to each culture.

Which of the following countries has the largest total GDP?

Wrigley's chewing gum is the same product whether you buy it in Japan,Great Britain,Brazil,or the United States.Wrigley's sells the same products around the world.It has adopted a(n) ________ strategy.

In a(n) ________ structure,there are many sellers,each having slightly different products and each having only a small share of the market.

The ________,a United States regulatory agency,enforces laws and regulations on foods,drugs,cosmetics,and veterinary products.Marketers of pharmaceuticals must get approval from this agency before introducing products to the market.

Give an example of a cultural value and a social norm.

The U.S.government proposed a tariff against some Chinese textiles and clothing when the trade deficit with China reached $103 billion.Explain what the United States was trying to achieve through this action.

A country that barters for imported products rather than paying in cash likely does so because its currency is convertible.

According to Transparency International,firms from which of the following countries are LEAST likely to pay bribes?

The ________ (2003) was established by the Federal Trade Commission to allow consumers to limit the number of telemarketing calls they receive.