Exam 7: Understanding and Reaching Global Consumers and Markets

A) an increase in economic protectionism and a decline in free trade.
B) a more aggressive attitude towards initiating international tariffs and quota systems.
C) global competition among global companies for global customers.
D) a decrease in most countries' GDPs and a renewal of nationalism.
E) an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism.

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Economic infrastructure is a country's c...

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A) exporting
B) joint venture
C) direct investment
D) licensing
E) franchising

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A) an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism.
B) a significant increase in economic protectionism and a decline in free trade.
C) a more aggressive attitude toward initiating international tariffs and quota systems.
D) a decrease in most countries' GDPs and a renewal of nationalism.
E) a decline in economic protectionism by individual countries.

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A) The U.S.is the world leader in terms of GDP (gross domestic product) .
B) The relative position of the United States as a supplier to the world has increased because of an absolute growth in exports.
C) The United States is running a continuing trade surplus because it has the world's smallest GDP.
D) The United States' relative role as an exporter has decreased in the area of aerospace during the past five years.
E) During the past 30 years,the relative position of the U.S.in terms of GDP has remained stable despite the fact that actual value of products and services has increased.

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A) an increase in economic protectionism and a decline free trade.
B) a more aggressive attitude towards initiating international tariffs and quota systems.
C) a decrease in most countries' GDPs and a renewal of nationalism.
D) the emergence of networked global marketspace.
E) an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism.

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Dumping is when a firm sells a product i...

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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.

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A) 17
B) 20
C) 28
D) 30
E) 37

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A) trade balancing.
B) tariffs.
C) the trade feedback effect.
D) countertrade.
E) currency forbearance.

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A) The United States is tied with China and Japan as the world's leaders in exports.
B) The U.S.percentage share of world exports has shifted upwards over the past 30 years.
C) The U.S.has maintained a steady percentage share of world imports.
D) The relative position of the U.S.as a supplier to the world has diminished despite an absolute growth in exports.
E) The United States' relative role as an exporter has decreased in areas of aerospace,chemical,pharmaceutical,and information technology industries within the past five years.

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A) product extension
B) product customization
C) product adaptation
D) dual adaptation
E) dual integration

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A) direct exporting.
B) indirect exporting.
C) licensing.
D) foreign manufacturing.
E) foreign assembly.

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A) changing demographic and psychographic data for each country in the registry.
B) a country's political risk ratings using multiple databases of country specific information.
C) the tariffs of each country and their relative effect on product/services sales.
D) the rankings of American products relative to domestic equivalents in each country.
E) changing social trends within different segments of the economy.

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A) direct exporting.
B) indirect exporting.
C) licensing.
D) franchising.
E) foreign assembly.

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A) capital infrastructure
B) political infrastructure
C) economic infrastructure
D) geopolitical system
E) financial exchange system

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A) the strategy used by multinational firms that have as many different product variations,brand names,and advertising programs as countries in which they do business.
B) the strategy of transnational firms not to employ adaptive marketing techniques when there are cultural differences,but to redirect their marketing resources towards customer education.
C) the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
D) the global strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm's products through a host nation's local businesses.
E) the strategy currently used by most U.S.domestic firms that when entering a new international market,these firms offer only those products that require the least amount of product adaptation.

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A) offering the right to a trademark,patent,trade secret,or similarly valued items of intellectual property in return for a royalty or fee.
B) contracting with a foreign firm to manufacture products according to certain specifications.
C) when a foreign company and a local firm invest together to create a local business.
D) having a company handle its own exports directly,but using intermediaries for importing.
E) exporting through an intermediary,which often has the knowledge and means to succeed in selling a firm's products abroad.

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