Question 1

Solving promotional and product problems does not guarantee global marketing success

Accepted Answer

A) True 
 B)False

Question 2

A __________ strategy occurs when multinational firms enable individual subsidiaries to compete independently in domestic markets.

Accepted Answer

A)   multidomestic
B)   multinational
C)   global
D)   capital-intensiveE) B) and C)
F) B) and D)

Question 3

Which of the following is a difference between product invention and product adaptation?

Accepted Answer

A)   Product invention involves altering the promotional strategies for a product,while product adaptation does not involve altering such strategies.
B)   Product invention takes the marketing mix into consideration,while product adaptation does not take it into consideration.
C)   Product invention involves drastically changing an existing product,while product adaptation involves slightly altering a basic product.
D)   Product invention applies only to products that are sold in local markets,while product adaptation applies to products all around the world.E) A) and D)
F) B) and C)

Question 4

Which of the following countries has the highest gross domestic product?

Accepted Answer

A)   Belwick,whose market value of final goods is $100 billion and market value of final services is $50 billion for two years
B)   Sparanthea,whose market value of intermediate goods is $200 billion and market value of intermediate services is $50 billion for a quarter year
C)   Zaneland,whose market value of final goods is $120 billion and market value of intermediate goods is $20 billion for a year
D)   Acquardica,whose market value of final goods is $170 billion and market value of final services is $90 billion for a yearE) A) and D)
F) B) and D)

Question 5

Given the United States' current balance of trade,if more U.S.firms that export their goods,the country's balance of trade will improve.

Accepted Answer

A) True 
 B)False

Question 6

Discuss the four stages in which multinational corporations develop their global businesses.

Accepted Answer

Answers will vary.A company that is heav...

Question 7

The final step in creating a marketing mix is developing a thorough understanding of the global target market.

Accepted Answer

A) True 
 B)False

Question 8

Which term refers to the difference between the value of a country's exports and the value of its imports over a given period?

Accepted Answer

A)   Balance of trade
B)   Balance of payment
C)   Gross domestic product
D)   Gross national productE) B) and D)
F) None of the above

Question 9

Which term refers to understanding international marketing opportunities,using effective global marketing strategies,and knowing the threats from foreign competitors in all markets?

Accepted Answer

A)   Global vision
B)   Global marketing
C)   Outsourcing
D)   InshoringE) A) and B)
F) All of the above

Question 10

Sinesia is a country that has very few sources of potable water.Given this information,which of the following is most likely to happen?

Accepted Answer

A)   Sinesia's international marketing will remain unaffected because petroleum is the only factor that affects international marketing.
B)   Sinesia will remain an importer of foodstuffs.
C)   Sinesia will become an attractive target for military intervention.Sinesia will not be having absolute water scarcity.
D)   Sinesia's wealth will equal that of countries with rich sources of water.E) A) and B)
F) A) and C)

Question 11

Identify and discuss the economic factors that influence the external business environment.

Accepted Answer

Answers will vary.A marketer with a glob...

Question 12

In North Korea,a company wishing to buy goods abroad must first obtain a foreign currency exchange from the control agency.

Accepted Answer

A) True 
 B)False

Question 13

Khokho's Coffee House was the first company to introduce flavored coffee in the global market.It blends coffee in several different flavors,such as blueberry,cinnamon,and cranberry,based on the flavors each country prefers.In this scenario,Khokho's Coffee House is involved in _____.

Accepted Answer

A)   product invention
B)   promotion adaptation
C)   global marketing standardization
D)   product adaptationE) A) and B)
F) All of the above

Question 14

Which term refers to the production of uniform products that can be sold the same way all over the world?

Accepted Answer

A)   Global marketing standardization
B)   Inshoring
C)   Outsourcing
D)   Global marketing differentiationE) A) and C)
F) A) and B)

Question 15

The International Monetary Fund (IMF)makes short-term loans to member nations that are unable to meet their budgetary expenses.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is a difference between a joint venture and contract manufacturing?

Accepted Answer

A)   A joint venture is formed when a domestic firm buys part of a foreign company to create a new entity,while firms choose contract manufacturing to avoid being involved in licensing.
B)   A joint venture is formed when a domestic firm broadens its global marketing base without investment,while in contract manufacturing; a licensor allows another firm to use its manufacturing process.
C)   A joint venture is formed when several countries agree to work together to form a common trade area,while contract manufacturing occurs when government efforts stifle investment by foreign corporations.
D)   A joint venture is formed when an agreement to stimulate international trade is made,while contract manufacturing occurs when a tax is levied on the goods entering a country.E) None of the above
F) All of the above

Question 17

Which of the following made several major changes in world trading practice?

Accepted Answer

A)   The Uruguay Round
B)   Mercosur
C)   The North American Free Trade Agreement (NAFT
A)  
D)   The International Monetary Fund (IMF) E) A) and C)
F) A) and B)

Question 18

What is franchising and why are foreign fast-food franchises so popular? Discuss and provide examples of successful international franchises.

Accepted Answer

Answers will vary.Franchising is a form ...

Question 19

Governments use boycotts to exclude companies from countries with which they have a political dispute.

Accepted Answer

A) True 
 B)False

Question 20

Joint ventures prevent a local firm from acquiring managerial skills and new technology.

Accepted Answer

A) True 
 B)False

Exam 5: Developing a Global Vision

Governments use boycotts to exclude companies from countries with which they have a political dispute.

Correct AnswerverifiedShow Answer

Khokho's Coffee House was the first company to introduce flavored coffee in the global market.It blends coffee in several different flavors,such as blueberry,cinnamon,and cranberry,based on the flavors each country prefers.In this scenario,Khokho's Coffee House is involved in _____.

Correct AnswerverifiedShow Answer

Identify and discuss the economic factors that influence the external business environment.

Correct AnswerverifiedAnswers will vary.A marketer with a glob...View AnswerShow Answer

What is franchising and why are foreign fast-food franchises so popular? Discuss and provide examples of successful international franchises.

Correct AnswerverifiedAnswers will vary.Franchising is a form ...View AnswerShow Answer

Which of the following countries has the highest gross domestic product?

Correct AnswerverifiedShow Answer

Solving promotional and product problems does not guarantee global marketing success

Correct AnswerverifiedShow Answer

The International Monetary Fund (IMF)makes short-term loans to member nations that are unable to meet their budgetary expenses.

Correct AnswerverifiedShow Answer

A __________ strategy occurs when multinational firms enable individual subsidiaries to compete independently in domestic markets.

Correct AnswerverifiedShow Answer

Discuss the four stages in which multinational corporations develop their global businesses.

Correct AnswerverifiedAnswers will vary.A company that is heav...View AnswerShow Answer

The final step in creating a marketing mix is developing a thorough understanding of the global target market.

Correct AnswerverifiedShow Answer

Which term refers to the production of uniform products that can be sold the same way all over the world?

Correct AnswerverifiedShow Answer

In North Korea,a company wishing to buy goods abroad must first obtain a foreign currency exchange from the control agency.

Correct AnswerverifiedShow Answer

Given the United States' current balance of trade,if more U.S.firms that export their goods,the country's balance of trade will improve.

Correct AnswerverifiedShow Answer

Which term refers to understanding international marketing opportunities,using effective global marketing strategies,and knowing the threats from foreign competitors in all markets?

Correct AnswerverifiedShow Answer

Sinesia is a country that has very few sources of potable water.Given this information,which of the following is most likely to happen?

Correct AnswerverifiedShow Answer

Joint ventures prevent a local firm from acquiring managerial skills and new technology.

Correct AnswerverifiedShow Answer

Which of the following made several major changes in world trading practice?

Correct AnswerverifiedShow Answer

Which term refers to the difference between the value of a country's exports and the value of its imports over a given period?

Correct AnswerverifiedShow Answer

Which of the following is a difference between a joint venture and contract manufacturing?

Correct AnswerverifiedShow Answer

Which of the following is a difference between product invention and product adaptation?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary.A marketer with a glob...
View Answer

Correct Answer
verified
Answers will vary.Franchising is a form ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary.A company that is heav...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified