Question 1

The European Union is an economic and political union of __________ member countries located primarily in Europe that have eliminated most barriers to the free flow of goods, services, capital and labor across their borders.

Accepted Answer

A)  17
B)  20
C)  27
D)  30
E)  37F) B) and D)
G) B) and C)

Question 2

Beginning January 1, 2005 China lifted the import quotas and lowered tariffs on automobiles.This removal of the quotas and the lowering of tariffs is an example of

Accepted Answer

A)  recalling the rule of protective domain.
B)  reducing ethnocentrism.
C)  enhancing domestic imperialism.
D)  reducing protectionism.
E)  reducing blocked currency.F) A) and E)
G) B) and D)

Question 3

FIGURE 7-7 
-When Nestlé actually owns a subsidiary or division in a foreign country, such as when it established its own ice cream manufacturing operation in China (see Figure 7-7 above) , 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 D)
G) C) and E)

Question 4

FIGURE 7-6 
-According to Figure 7-6 above, points "D" would most likely be __________.

Accepted Answer

A)  exporting
B)  joint venture
C)  direct investment
D)  franchising
E)  licensingF) A) and B)
G) D) and E)

Question 5

Which of the following statements regarding global brands is most accurate?

Accepted Answer

A)  A global brand is marketed under the same name in multiple countries.
B)  A global brand has dispersed marketing centers, each responsible for a specific region.
C)  A global brand alters product formulation or service for each geographical region.
D)  A global brand delivers the multiple benefits based on the GDP of each country.
E)  A global brand is a collaborative effort amongst several different national firms.F) A) and B)
G) D) and E)

Question 6

The practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors is referred to as

Accepted Answer

A)  locution.
B)  heuristics.
C)  transliteration.
D)  back translation.
E)  cross-cultural paraphrasing.F) C) and D)
G) All of the above

Question 7

Which of the following statements concerning currency exchange rates is most accurate?

Accepted Answer

A)  Fluctuations in exchange rates among the world's currencies are of critical importance in global marketing.
B)  Fluctuations in exchange rates among the world's currencies are of minor importance in global marketing.
C)  Exchange rate fluctuations are relatively rare, but they usually have serious long-term consequences.
D)  Exchange rate fluctuations are almost non-existent due in great part to the Euro.
E)  Exchange rate fluctuations affect the financial sector but rarely reach the consumer.F) C) and E)
G) A) and E)

Question 8

The world's largest manufacturer of peppermint candy canes was in Albany, Georgia, until it could no longer afford to buy the sugar needed for its operation.It moved its manufacturing business to Mexico where there are no restrictions (as existed in the U.S.)  on the amount of sugar that can be brought into the nation.The movement of this U.S.business to Mexico was caused by a(n)  __________ established by the U.S.government.

Accepted Answer

A)  tariff
B)  restrictive tax
C)  quota
D)  excise tax
E)  exchange subsidyF) C) and D)
G) B) and D)

Question 9

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

Accepted Answer

A)  The chief advantage of the global marketspace over the traditional bricks-and-mortar stores for customers is the ability to shop anywhere, at any time, and at the lower cost.
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 or Unispeak.
E)  Marketspace creates an unfair competitive environment for emerging nations.F) A) and B)
G) A) and E)

Question 10

What are the product and promotion strategies available to a company seeking to enter the global marketplace? How do they relate to each other in terms of the same or adapted product and promotion?

Accepted Answer

There are five product and promotional s...

Question 11

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

Accepted Answer

A)  acculturation
B)  global competition
C)  internationalization
D)  global collaboration
E)  transactional exchangeF) A) and C)
G) B) and D)

Question 12

There are 20 official languages spoken in the European Union, and Canada has two official languages which are

Accepted Answer

A)  English and French.
B)  English and Chinese.
C)  English and Spanish.
D)  English and Italian.
E)  English and German.F) None of the above
G) C) and D)

Question 13

The strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ are referred to as a(n)

Accepted Answer

A)  global marketing strategy.
B)  integrated marketing strategy.
C)  transnational marketing strategy.
D)  pancentric marketing strategy.
E)  international marketing strategy.F) A) and E)
G) A) and D)

Question 14

FIGURE 7-6 
-According to Figure 7-6 above, points "A" would most likely be __________.

Accepted Answer

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

Question 15

In recent years, a number of countries with similar economic goals have formed transnational trade groups or signed trade agreements for the purpose of promoting free trade.Describe the best-known three.

Accepted Answer

(1) The European Union in early 2011 con...

Question 16

Although Russia now has a free economy, there are still some problems within the financial and legal system with the notion of

Accepted Answer

A)  private property.
B)  product promotion.
C)  paid advertising.
D)  community property.
E)  foreign exchange rates.F) A) and B)
G) A) and C)

Question 17

direct investment.

Accepted Answer

A)  franchising
B)  cooperative
C)  multiparty
D)  mutual
E)  joint ventureF) C) and D)
G) A) and C)

Question 18

A situation where products are bought in a lower-priced country from a manufacturer's authorized reseller, shipped to higher-priced countries, and sold through unauthorized retailers below the manufacturer's suggested retail price, is referred to as __________.

Accepted Answer

A)  the black market
B)  a gray market
C)  a monopolized market
D)  a globalized market
E)  parallel exportingF) B) and C)
G) A) and B)

Question 19

The price of one country's currency expressed in terms of another country's currency is referred to as

Accepted Answer

A)  balance of price.
B)  currency exchange rate.
C)  reciprocity price.
D)  balance of payments.
E)  equity exchange factor.F) B) and E)
G) B) and C)

Question 20

Coca-Cola, Gillette razors, and Wrigley's gum are virtually selling the same product in other countries.This is an example of which type of international product strategy?

Accepted Answer

A)  product customization
B)  product adaptation
C)  product extension
D)  product integration
E)  product inventionF) B) and E)
G) A) and D)

Exam 7: Understanding and Reaching Global Consumers and Markets

direct investment.

Correct Answer
verified

What are the product and promotion strategies available to a company seeking to enter the global marketplace? How do they relate to each other in terms of the same or adapted product and promotion?

Correct Answer
verified
There are five product and promotional s...
View Answer

FIGURE 7-6 -According to Figure 7-6 above, points "A" would most likely be __________.

Correct Answer
verified

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

Correct Answer
verified

The price of one country's currency expressed in terms of another country's currency is referred to as

Correct Answer
verified

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

Correct Answer
verified

The practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors is referred to as

Correct Answer
verified

Correct Answer
verified

In recent years, a number of countries with similar economic goals have formed transnational trade groups or signed trade agreements for the purpose of promoting free trade.Describe the best-known three.

Correct Answer
verified
(1) The European Union in early 2011 con...
View Answer

Coca-Cola, Gillette razors, and Wrigley's gum are virtually selling the same product in other countries.This is an example of which type of international product strategy?

Correct Answer
verified

Which of the following statements concerning currency exchange rates is most accurate?

Correct Answer
verified

Which of the following statements regarding global brands is most accurate?

Correct Answer
verified

A situation where products are bought in a lower-priced country from a manufacturer's authorized reseller, shipped to higher-priced countries, and sold through unauthorized retailers below the manufacturer's suggested retail price, is referred to as __________.

Correct Answer
verified

FIGURE 7-6 -According to Figure 7-6 above, points "D" would most likely be __________.

Correct Answer
verified

Although Russia now has a free economy, there are still some problems within the financial and legal system with the notion of

Correct Answer
verified

Correct Answer
verified

The European Union is an economic and political union of __________ member countries located primarily in Europe that have eliminated most barriers to the free flow of goods, services, capital and labor across their borders.

Correct Answer
verified

The strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ are referred to as a(n)

Correct Answer
verified

Beginning January 1, 2005 China lifted the import quotas and lowered tariffs on automobiles.This removal of the quotas and the lowering of tariffs is an example of

Correct Answer
verified

There are 20 official languages spoken in the European Union, and Canada has two official languages which are

Correct Answer
verified

Exam 7: Understanding and Reaching Global Consumers and Markets

direct investment.

Correct AnswerverifiedShow Answer

What are the product and promotion strategies available to a company seeking to enter the global marketplace? How do they relate to each other in terms of the same or adapted product and promotion?

Correct AnswerverifiedThere are five product and promotional s...View AnswerShow Answer

FIGURE 7-6 -According to Figure 7-6 above, points "A" would most likely be __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The price of one country's currency expressed in terms of another country's currency is referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In recent years, a number of countries with similar economic goals have formed transnational trade groups or signed trade agreements for the purpose of promoting free trade.Describe the best-known three.

Correct Answerverified(1) The European Union in early 2011 con...View AnswerShow Answer

Coca-Cola, Gillette razors, and Wrigley's gum are virtually selling the same product in other countries.This is an example of which type of international product strategy?

Correct AnswerverifiedShow Answer

Which of the following statements concerning currency exchange rates is most accurate?

Correct AnswerverifiedShow Answer

Which of the following statements regarding global brands is most accurate?

Correct AnswerverifiedShow Answer

A situation where products are bought in a lower-priced country from a manufacturer's authorized reseller, shipped to higher-priced countries, and sold through unauthorized retailers below the manufacturer's suggested retail price, is referred to as __________.

Correct AnswerverifiedShow Answer

FIGURE 7-6 -According to Figure 7-6 above, points "D" would most likely be __________.

Correct AnswerverifiedShow Answer

Although Russia now has a free economy, there are still some problems within the financial and legal system with the notion of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The European Union is an economic and political union of __________ member countries located primarily in Europe that have eliminated most barriers to the free flow of goods, services, capital and labor across their borders.

Correct AnswerverifiedShow Answer

The strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ are referred to as a(n)

Correct AnswerverifiedShow Answer

Beginning January 1, 2005 China lifted the import quotas and lowered tariffs on automobiles.This removal of the quotas and the lowering of tariffs is an example of

Correct AnswerverifiedShow Answer

There are 20 official languages spoken in the European Union, and Canada has two official languages which are

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
There are five product and promotional s...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
(1) The European Union in early 2011 con...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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