Question 1

monetary value of all goods and services produced in a country during one year is referred to as the

Accepted Answer

A)   gross national production.
B)   national monetary reserve.
C)   gross domestic product.
D)   monetary domestic product.
E)   annual national product.F) A) and D)
G) B) and C)

Question 2

Global marketing is also affected by economic considerations.Identify the three steps that should be performed when scanning the global marketplace.

Accepted Answer

A scan of the global marketplace should ...

Question 3

Dutch lead the world in the cut-flower industry because of their research in flower cultivation,packaging,and shipping.Using this knowledge as a resource is an example of what Michael Porter would term

Accepted Answer

A)   structural conditions.
B)   demand conditions.
C)   sociocultural conditions.
D)   competitive conditions.
E)   factor conditions.F) C) and D)
G) B) and E)

Question 4

Figure 7-2
-According to Michael Porter's diamond in Figure 7-2 above,quadrant "B" represents

Accepted Answer

A)   factor conditions.
B)   related and supporting industries.
C)   demand conditions.
D)   managerial conditions.
E)   company strategy, structure, and rivalry.F) A) and E)
G) C) and D)

Question 5

Nestlé actually owns a subsidiary or division in a foreign country,such as when it established its own ice cream manufacturing operation in China,this global market entry strategy is known as __________ and represents the greatest commitment a company can make.

Accepted Answer

A)   licensing
B)   local assembly
C)   a joint venture
D)   direct investment
E)   local manufacturingF) A) and C)
G) B) and E)

Question 6

Which of the following issues raises concerns about the ethics of protectionism?

Accepted Answer

A)   Competitive advantage grows out of continuous improvement.
B)   Small firms succeed in foreign niche markets.
C)   Tariffs have declined from an average of 40 percent to less than 5 percent.
D)   Regional trade agreements provide preferential treatment for member nations.
E)   Pan-European marketing strategies are possible due to greater uniformity in packaging standards.F) A) and E)
G) All of the above

Question 7

Parthenon Photo
-Parthenon,shown in the photo above,evokes strong feelings from consumers in Greece.As a result,marketers must be mindful in accessing the meaning of this __________ when developing marketing programs to reach consumers of a specific country.

Accepted Answer

A)   cultural symbol
B)   secret codes
C)   back translations
D)   semantic symbolisms
E)   semioticsF) C) and D)
G) B) and E)

Question 8

foreign currencies can buy more U.S.dollars,

Accepted Answer

A)   products are more expensive and worth less to foreign customers.
B)   products are more expensive and worth more to foreign customers.
C)   products are less expensive and worth more to foreign customers.
D)   economists consider it an indicator of an impending long-term economic downturn.
E)   American consumers buy in large quantities and stockpile in fear of an impending economic crisis.F) D) and E)
G) All of the above

Question 9

permanent institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the __________.

Accepted Answer

A)   League of Nations
B)   World Trade Organization (WTO) 
C)   Association for Commerce Equity (AC
E)  
D)   United Nations Board of Trade (UNBT) 
E)   Global Better Business Bureau (BBB-G) F) A) and D)
G) A) and C)

Question 10

reverence that Japan shows towards its elderly is an example of the nation's __________.

Accepted Answer

A)   values
B)   beliefs
C)   customs
D)   religion
E)   cultural diversityF) A) and B)
G) C) and E)

Question 11

According to economists,protectionism

Accepted Answer

A)   protects a nation's political security.
B)   encourages economic reliance on foreign countries.
C)   inhibits the development of domestic industries.
D)   creates opportunities for the outsourcing of domestic jobs.
E)   creates a more favorable environment for a global economy.F) A) and E)
G) A) and D)

Question 12

Pepsi-Cola,now available in more than 160 countries and territories,accounts for __________ percent of all soft drinks sold internationally.

Accepted Answer

A)   10
B)   15
C)   20
D)   25
E)   30F) A) and D)
G) C) and E)

Question 13

Nescafé coffee is marketed using different coffee blends and promotional campaigns to match consumer preferences in different countries.For example Nescafé generally emphasizes the taste,aroma,and warmth of shared moments in its advertising around the world.However in Thailand Nescafé is advertised as a way to relax from the pressures of daily life.Nescafé is using which type of product strategy?

Accepted Answer

A)   product extension
B)   product customization
C)   product adaptation
D)   dual adaptation
E)   dual integrationF) None of the above
G) All of the above

Question 14

percentage of world trade involves countertrade?

Accepted Answer

A)   5 percent to 10 percent
B)   15 percent to 20 percent
C)   25 percent to 30 percent
D)   roughly 50 percent
E)   Countertrade is so pervasive that it cannot accurately be calculated.F) A) and E)
G) B) and C)

Question 15

Figure 7-3
-box with the "?" in Figure 7-3 above leads to which of the following as a result of the imposition of tariffs and quotas based on protectionist policies of a country?

Accepted Answer

A)   an increase in world trade
B)   a decrease in world trade
C)   a limit on exports
D)   a limit on imports
E)   countertradeF) A) and B)
G) C) and D)

Question 16

Which of the following examples best demonstrates a company's appreciation of another country's values?

Accepted Answer

A)   American companies in Germany encourage the use of all types of credit cards.
B)   In Brazil, American companies are extremely careful to keep to a strict agenda and time schedule, even though an informal structure is preferred.
C)   Bath products are advertised by portraying intimate scenes between husbands and wives in countries where personal privacy is important.
D)   McDonald's restaurants in India serve a full line of products except for hamburgers made from beef.
E)   All of these.F) C) and D)
G) A) and B)

Question 17

Figure 7-5
-According to Figure 7-5 above,point "A" would most likely be __________.

Accepted Answer

A)   joint venture
B)   licensing
C)   exporting
D)   direct investment
E)   franchiseF) A) and B)
G) C) and D)

Question 18

become leaders in the world market,countries need related and supporting industries because

Accepted Answer

A)   collaborative suppliers can generate revenue for further investment.
B)   they can eliminate the need to import materials from other countries.
C)   clusters of strong suppliers can accelerate innovation.
D)   most countries still believe strongly in protectionism.
E)   their union lessens financial vulnerability and increases buying power.F) A) and D)
G) C) and D)

Question 19

Agreements between two or more independent firms to cooperate for the purpose of achieving common goals are referred to as

Accepted Answer

A)   compacts.
B)   global partnerships.
C)   strategic alliances.
D)   free trade agreements.
E)   economic coalitions.F) A) and B)
G) C) and D)

Question 20

Which of the following statements about the World Trade Organization (WTO) is most accurate?

Accepted Answer

A)   The World Trade organization is a temporary institution.
B)   The 153 member countries of the WTO account for less than 25 percent of world trade.
C)   The WTO sets rules governing trade among its members.
D)   The WTO uses panels of trade experts who can issue non-binding recommendations.
E)   The WTO was formed by the United Nations.F) B) and D)
G) A) and E)

Exam 7: Understanding and Reaching Global Consumers and Markets

Figure 7-5 -According to Figure 7-5 above,point "A" would most likely be __________.

Correct Answer
verified

Pepsi-Cola,now available in more than 160 countries and territories,accounts for __________ percent of all soft drinks sold internationally.

Correct Answer
verified

Parthenon Photo -Parthenon,shown in the photo above,evokes strong feelings from consumers in Greece.As a result,marketers must be mindful in accessing the meaning of this __________ when developing marketing programs to reach consumers of a specific country.

Correct Answer
verified

Which of the following examples best demonstrates a company's appreciation of another country's values?

Correct Answer
verified

reverence that Japan shows towards its elderly is an example of the nation's __________.

Correct Answer
verified

Dutch lead the world in the cut-flower industry because of their research in flower cultivation,packaging,and shipping.Using this knowledge as a resource is an example of what Michael Porter would term

Correct Answer
verified

Global marketing is also affected by economic considerations.Identify the three steps that should be performed when scanning the global marketplace.

Correct Answer
verified
A scan of the global marketplace should ...
View Answer

Correct Answer
verified

Figure 7-3 -box with the "?" in Figure 7-3 above leads to which of the following as a result of the imposition of tariffs and quotas based on protectionist policies of a country?

Correct Answer
verified

Which of the following statements about the World Trade Organization (WTO) is most accurate?

Correct Answer
verified

become leaders in the world market,countries need related and supporting industries because

Correct Answer
verified

Figure 7-2 -According to Michael Porter's diamond in Figure 7-2 above,quadrant "B" represents

Correct Answer
verified

Which of the following issues raises concerns about the ethics of protectionism?

Correct Answer
verified

Nestlé actually owns a subsidiary or division in a foreign country,such as when it established its own ice cream manufacturing operation in China,this global market entry strategy is known as __________ and represents the greatest commitment a company can make.

Correct Answer
verified

According to economists,protectionism

Correct Answer
verified

Agreements between two or more independent firms to cooperate for the purpose of achieving common goals are referred to as

Correct Answer
verified

percentage of world trade involves countertrade?

Correct Answer
verified

monetary value of all goods and services produced in a country during one year is referred to as the

Correct Answer
verified

permanent institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the __________.

Correct Answer
verified

foreign currencies can buy more U.S.dollars,

Correct Answer
verified

Exam 7: Understanding and Reaching Global Consumers and Markets

Figure 7-5 -According to Figure 7-5 above,point "A" would most likely be __________.

Correct AnswerverifiedShow Answer

Pepsi-Cola,now available in more than 160 countries and territories,accounts for __________ percent of all soft drinks sold internationally.

Correct AnswerverifiedShow Answer

Parthenon Photo -Parthenon,shown in the photo above,evokes strong feelings from consumers in Greece.As a result,marketers must be mindful in accessing the meaning of this __________ when developing marketing programs to reach consumers of a specific country.

Correct AnswerverifiedShow Answer

Which of the following examples best demonstrates a company's appreciation of another country's values?

Correct AnswerverifiedShow Answer

reverence that Japan shows towards its elderly is an example of the nation's __________.

Correct AnswerverifiedShow Answer

Dutch lead the world in the cut-flower industry because of their research in flower cultivation,packaging,and shipping.Using this knowledge as a resource is an example of what Michael Porter would term

Correct AnswerverifiedShow Answer

Global marketing is also affected by economic considerations.Identify the three steps that should be performed when scanning the global marketplace.

Correct AnswerverifiedA scan of the global marketplace should ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Figure 7-3 -box with the "?" in Figure 7-3 above leads to which of the following as a result of the imposition of tariffs and quotas based on protectionist policies of a country?

Correct AnswerverifiedShow Answer

Which of the following statements about the World Trade Organization (WTO) is most accurate?

Correct AnswerverifiedShow Answer

become leaders in the world market,countries need related and supporting industries because

Correct AnswerverifiedShow Answer

Figure 7-2 -According to Michael Porter's diamond in Figure 7-2 above,quadrant "B" represents

Correct AnswerverifiedShow Answer

Which of the following issues raises concerns about the ethics of protectionism?

Correct AnswerverifiedShow Answer

Nestlé actually owns a subsidiary or division in a foreign country,such as when it established its own ice cream manufacturing operation in China,this global market entry strategy is known as __________ and represents the greatest commitment a company can make.

Correct AnswerverifiedShow Answer

According to economists,protectionism

Correct AnswerverifiedShow Answer

Agreements between two or more independent firms to cooperate for the purpose of achieving common goals are referred to as

Correct AnswerverifiedShow Answer

percentage of world trade involves countertrade?

Correct AnswerverifiedShow Answer

monetary value of all goods and services produced in a country during one year is referred to as the

Correct AnswerverifiedShow Answer

permanent institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the __________.

Correct AnswerverifiedShow Answer

foreign currencies can buy more U.S.dollars,

Correct AnswerverifiedShow Answer

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A scan of the global marketplace should ...
View Answer

Correct Answer
verified

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