Question 1

When firms originate, produce, and market their products and services worldwide, it is referred to as

Accepted Answer

A)   acculturation.
B)   free trade.
C)   international branding.
D)   global competition.
E)   transactional exchange.F) B) and C)
G) A) and E)

Question 2

In terms of the global marketplace, there are three primary types of companies: international firms, multinational firms, and transnational firms. The key factor that distinguishes one from another is

Accepted Answer

A)   the firm's financial capacity to take risks.
B)   the willingness and ability to use diversity and cultural differences as a positive in its marketing efforts.
C)   the firm's level of customization in marketing efforts as strategy for individual global markets.
D)   the relative position of the product or service in terms of its life cycle.
E)   the relative size of the firm both in financial terms and in production capacity.F) A) and E)
G) None of the above

Question 3

A Tokyo shopkeeper would have been wise to use ________ to verify the accuracy of the new sign in English he purchased for his dry cleaning business. The sign read, "Drop your pants here for best results," which he did not know had another suggestive meaning to native speakers.

Accepted Answer

A)   cultural symbolism
B)   dialect transformation
C)   semantic analysis
D)   linguistic exchange
E)   back translationF) A) and B)
G) B) and E)

Question 4

Mary Kay, Inc., can be classified as which type of company when marketing its products around the world?

Accepted Answer

A)   multinational firm
B)   transnational firm
C)   international firm
D)   global marketing firm
E)   multidomestic firmF) A) and D)
G) C) and D)

Question 5

Yogen Früz is a successful chain of frozen yogurt shops originating in Canada. Archeology Investments has an agreement with the Canadian firm that grants rights to its company to open and operate Yogen Früz shops in Dubai, Oman, Qatar, Bahrain, and Kuwait. Yogen Früz is engaged in

Accepted Answer

A)   dual adaptation.
B)   a joint venture.
C)   direct exporting.
D)   indirect exporting.
E)   franchising.F) C) and D)
G) B) and D)

Question 6

Which form of entry into a foreign market requires the greatest commitment?

Accepted Answer

A)   direct exporting
B)   direct investment
C)   joint venture
D)   licensing
E)   indirect exportingF) None of the above
G) A) and E)

Question 7

Due to some of the 11,000 trade regulations that specify how goods are to be made and marketed, Japanese car safety rules effectively require all automobile replacement parts to be Japanese. Rules like these often function as

Accepted Answer

A)   economic infrastructure.
B)   trade barriers.
C)   universal codes.
D)   binding requirements.
E)   targets for bribery.F) B) and D)
G) B) and C)

Question 8

Global companies have five strategies for matching products and their promotion efforts to global markets. The strategy of selling virtually the same product in other countries is referred to as

Accepted Answer

A)   product adaptation.
B)   product invention.
C)   brand adaptation.
D)   product extension.
E)   product integration.F) A) and B)
G) A) and C)

Question 9

The U.S. Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering ________, lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Accepted Answer

A)   boycotts
B)   quotas
C)   sanctions
D)   tariffs
E)   subsidiesF) A) and B)
G) B) and D)

Question 10

Around the world, middle-class, youth, and elite markets that consume similar assortments of products and services, regardless of geographic location, are referred to as

Accepted Answer

A)   transnational consumers.
B)   borderless consumers.
C)   international consumers.
D)   multinational consumers.
E)   global consumers.F) B) and C)
G) A) and C)

Question 11

Cultural symbols are

Accepted Answer

A)   ideas that can be protected by international copyrights.
B)   ideas that cannot be expressed by words or characters.
C)   things that represent values existing in a unique form within a nation.
D)   things that represent ideas and concepts.
E)   words that represent pictures or designs.F) B) and D)
G) C) and D)

Question 12

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

Accepted Answer

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

Question 13

Generally speaking, ________ firm markets its existing products and services in other countries the same way it does in its home country.

Accepted Answer

A)   a multidomestic
B)   an international
C)   a multinational
D)   a transnational
E)   an intranationalF) All of the above
G) B) and E)

Question 14

Government taxes on products or services entering a country that primarily serve to raise prices on imports are referred to as

Accepted Answer

A)   tariffs.
B)   quotas.
C)   WTO taxes.
D)   foreign excise taxes.
E)   trade subsidies.F) B) and D)
G) All of the above

Question 15

Which of the following statements about the emergence of a networked global marketspace is most accurate?

Accepted Answer

A)   Marketspace creates an unfair competitive environment for emerging nations.
B)   More business-to-consumer marketing is done on the Internet than business-to-business marketing.
C)   The most active participants in the networked global marketspace are companies in developing nations.
D)   All business in the networked global marketspace is conducted in English.
E)   A networked global marketspace enables the exchange of products, services, and information from sellers anywhere to buyers anywhere at any time and at a lower cost.F) B) and C)
G) A) and E)

Question 16

Explain the difference between joint venture and direct investment market entry strategies. What are the advantages and disadvantages of each approach?

Accepted Answer

When a foreign company and a local firm ...

Question 17

What is meant by economic infrastructure and how can this affect a firm's plans to enter a global market?

Accepted Answer

Economic infrastructure is a country's c...

Question 18

As a general rule, a product ________ strategy seems to work best when the consumer target market for the product is alike across countries and cultures-that is, consumers share the same desires, needs, and use for the product.

Accepted Answer

A)   adaptation
B)   extension
C)   integration
D)   invention
E)   customizationF) C) and E)
G) A) and B)

Question 19

Canada has two official languages, which are

Accepted Answer

A)   English and Japanese.
B)   English and Spanish.
C)   English and French.
D)   English and Italian.
E)   English and German.F) A) and B)
G) D) and E)

Question 20

The reverence that Japan shows toward its elderly is an example of that nation's

Accepted Answer

A)   values.
B)   beliefs.
C)   customs.
D)   religion.
E)   cultural diversity.F) None of the above
G) B) and D)

Exam 6: Understanding and Reaching Global Consumers and Markets

Government taxes on products or services entering a country that primarily serve to raise prices on imports are referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Around the world, middle-class, youth, and elite markets that consume similar assortments of products and services, regardless of geographic location, are referred to as

Correct AnswerverifiedShow Answer

In terms of the global marketplace, there are three primary types of companies: international firms, multinational firms, and transnational firms. The key factor that distinguishes one from another is

Correct AnswerverifiedShow Answer

Yogen Früz is a successful chain of frozen yogurt shops originating in Canada. Archeology Investments has an agreement with the Canadian firm that grants rights to its company to open and operate Yogen Früz shops in Dubai, Oman, Qatar, Bahrain, and Kuwait. Yogen Früz is engaged in

Correct AnswerverifiedShow Answer

Cultural symbols are

Correct AnswerverifiedShow Answer

Global companies have five strategies for matching products and their promotion efforts to global markets. The strategy of selling virtually the same product in other countries is referred to as

Correct AnswerverifiedShow Answer

Due to some of the 11,000 trade regulations that specify how goods are to be made and marketed, Japanese car safety rules effectively require all automobile replacement parts to be Japanese. Rules like these often function as

Correct AnswerverifiedShow Answer

Canada has two official languages, which are

Correct AnswerverifiedShow Answer

The U.S. Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering ________, lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.

Correct AnswerverifiedShow Answer

A Tokyo shopkeeper would have been wise to use ________ to verify the accuracy of the new sign in English he purchased for his dry cleaning business. The sign read, "Drop your pants here for best results," which he did not know had another suggestive meaning to native speakers.

Correct AnswerverifiedShow Answer

As a general rule, a product ________ strategy seems to work best when the consumer target market for the product is alike across countries and cultures-that is, consumers share the same desires, needs, and use for the product.

Correct AnswerverifiedShow Answer

Explain the difference between joint venture and direct investment market entry strategies. What are the advantages and disadvantages of each approach?

Correct AnswerverifiedWhen a foreign company and a local firm ...View AnswerShow Answer

Which of the following statements about the emergence of a networked global marketspace is most accurate?

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Which form of entry into a foreign market requires the greatest commitment?

Correct AnswerverifiedShow Answer

Generally speaking, ________ firm markets its existing products and services in other countries the same way it does in its home country.

Correct AnswerverifiedShow Answer

Mary Kay, Inc., can be classified as which type of company when marketing its products around the world?

Correct AnswerverifiedShow Answer

The reverence that Japan shows toward its elderly is an example of that nation's

Correct AnswerverifiedShow Answer

When firms originate, produce, and market their products and services worldwide, it is referred to as

Correct AnswerverifiedShow Answer

What is meant by economic infrastructure and how can this affect a firm's plans to enter a global market?

Correct AnswerverifiedEconomic infrastructure is a country's c...View AnswerShow Answer

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When a foreign company and a local firm ...
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Economic infrastructure is a country's c...
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