Question 1

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 between its members and the rest of the world.
D)   The WTO uses panels of trade experts who can issue non-binding recommendations.
E)   The WTO was formed by the major industrialized nations of the world.F) A) and E)
G) A) and C)

Question 2

Competitive advantage for global firms grows out of continuous improvement,innovation,and __________.

Accepted Answer

A)   accountability
B)   change
C)   product quality
D)   company size
E)   locationF) B) and E)
G) B) and C)

Question 3

Cultural symbols refer to

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 that exist solely within a nation.
D)   things that represent ideas and concepts.
E)   words that represent pictures or designs.F) A) and B)
G) A) and E)

Question 4

Which of the following types of firms would be most likely to use a global marketing strategy?

Accepted Answer

A)   multidomestic
B)   multinational
C)   multicountry
D)   transnational
E)   transborderF) A) and B)
G) B) and D)

Question 5

an example of a global channel of distribution.

Accepted Answer

Figure 7-7 outlines the channel through ...

Question 6

Japanese car safety rules require all automobile replacement parts to be Japanese and EU nations have 10,000 rules that specify how goods are to be made and marketed.These are examples of

Accepted Answer

A)   ISO 9000 standards.
B)   trade barriers.
C)   universal codes.
D)   binding requirements.
E)   "the price of doing business."F) A) and B)
G) A) and C)

Question 7

woman from Bloomington,Indiana,is in Chicago for a weekend of shopping and fine dining.After shopping in at least 10 different stores and trying at least 20 different outfits,she finds exactly what she has been looking for-the perfect linen suit.At the register however,she notices that the label indicates that the suit was made in Ireland.Although she agrees with the salesclerk that the suit is indeed perfect,and that Irish linen is considered to be some of the best,she does not purchase that suit; instead,she selects a less flattering,more expensive suit that contains a label stating it was made in the United States.This behavior would likely be an example of

Accepted Answer

A)   the trade feedback effect.
B)   cultural ethnocentricity.
C)   consumer ethnocentrism.
D)   cultural semiotics.
E)   cultural bias.F) A) and D)
G) B) and E)

Question 8

Which of the following statements about world trade flows is most accurate?

Accepted Answer

A)   China 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 relative position of the United States as a supplier to the world has diminished despite an absolute growth in exports.
D)   The United States' relative role as an exporter has decreased in the area of aerospace during the past five years.
E)   It is impossible to compare GDPs of different nations since it is an internal measurement of economic activity.F) B) and C)
G) B) and E)

Question 9

Michael Porter has identified four key elements in a nation's competitive advantage: factor conditions; demand conditions; __________; and company strategy,structure,and rivalry.

Accepted Answer

A)   consumer behavior
B)   workforce education and skill levels
C)   related and supporting industries
D)   governmental regulation
E)   ethnocentrismF) B) and C)
G) A) and E)

Question 10

estimated cost of economic espionage to firms in the United States is estimated to be

Accepted Answer

A)   $10 billion per year.
B)   $250 billion per year.
C)   $750 billion per year.
D)   $900 billion per year.
E)   exceeding $1 trillion per year.F) A) and C)
G) C) and D)

Question 11

Fluctuations in the __________ among the world's currencies have direct impact on the sales and profits made by global companies.

Accepted Answer

A)   design
B)   transportation
C)   reciprocity
D)   exchange rates
E)   numismatic valueF) B) and C)
G) A) and E)

Question 12

day,in a third-class carriage of the express train that runs between Bombay and Ahmadabad,plainly dressed couriers carry precious cargo: diamonds.Rough gems are imported to Bombay from dealers in London,Antwerp,Tel Aviv,and New York.Couriers then take these gems to cutting and polishing centers in Gujarat state and then carry them back to Bombay to be reexported to the world.This system,based on trust,secrecy,and skilled low-cost labor,has worked for half a century.It has helped make India the world's premier center for diamond cutting and polishing.Nine out of every 10 stones sold in the world pass through India,making diamonds that country's largest export.India's ability to use its skilled labor as a resource is an example of what Michael Porter would term

Accepted Answer

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

Question 13

Tariffs refer to

Accepted Answer

A)   government payments to companies or industries that primarily serve to create competitive advantage for domestic products.
B)   government taxes on goods or services entering a country that primarily serve to raise prices on imports.
C)   a restriction placed on the amount of a product allowed to enter or leave a country.
D)   a minimum requirement for the purchase between two or more nations of products or services.
E)   a refusal to purchase or exchange goods or services with another nation unless certain financial or ideological requirements have been satisfied.F) None of the above
G) A) and E)

Question 14

firm's profit potential and control over marketing activities increases as it moves from exporting to direct investment as a global market-entry strategy.But so does the firm's

Accepted Answer

A)   likelihood of long-term success.
B)   financial commitment and risk.
C)   vulnerability to political changes and doctrines.
D)   need for a more educated workforce.
E)   need for a larger workforce.F) A) and B)
G) A) and E)

Question 15

Global companies have five strategies for matching products and their promotion efforts to global markets.Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of strategy?

Accepted Answer

A)   product extension
B)   product customization
C)   product adaptation
D)   product invention
E)   product integrationF) A) and B)
G) B) and E)

Question 16

Private enterprise dominates __________ countries,although they have substantial public sectors as well.

Accepted Answer

A)   developing
B)   evolving
C)   developed
D)   emerging
E)   third-worldF) A) and E)
G) D) and E)

Question 17

skillfully using __________,global marketers can tie positive symbolism to their products,services,and brands to enhance their attractiveness to consumers.

Accepted Answer

A)   cultural symbols
B)   visual icons
C)   trademarks
D)   brand names
E)   ethnic emblemsF) A) and C)
G) A) and D)

Question 18

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

Accepted Answer

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

Question 19

Briefly describe the World Trade Organization (WTO)and its purpose.

Accepted Answer

The World Trade Organization (WTO)was fo...

Question 20

prescribed penalty for individuals found guilty of the theft of trade secrets is

Accepted Answer

A)   up to 15 years in prison and fines up to $500,000.
B)   up to 25 years in prison and fines up to $10 million.
C)   life in prison with chance of parole after 25 years.
D)   expulsion from the United States and/or revocation of citizenship.
E)   30 years in prison and fines to be determined by the courts.F) None of the above
G) A) and B)

Exam 7: Understanding and Reaching Global Consumers and Markets

an example of a global channel of distribution.

Correct Answer
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Figure 7-7 outlines the channel through ...
View Answer

estimated cost of economic espionage to firms in the United States is estimated to be

Correct Answer
verified

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

Correct Answer
verified

skillfully using __________,global marketers can tie positive symbolism to their products,services,and brands to enhance their attractiveness to consumers.

Correct Answer
verified

Japanese car safety rules require all automobile replacement parts to be Japanese and EU nations have 10,000 rules that specify how goods are to be made and marketed.These are examples of

Correct Answer
verified

prescribed penalty for individuals found guilty of the theft of trade secrets is

Correct Answer
verified

Global companies have five strategies for matching products and their promotion efforts to global markets.Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of strategy?

Correct Answer
verified

Competitive advantage for global firms grows out of continuous improvement,innovation,and __________.

Correct Answer
verified

Tariffs refer to

Correct Answer
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Fluctuations in the __________ among the world's currencies have direct impact on the sales and profits made by global companies.

Correct Answer
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Correct Answer
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Correct Answer
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Which of the following types of firms would be most likely to use a global marketing strategy?

Correct Answer
verified

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

Correct Answer
verified

Briefly describe the World Trade Organization (WTO)and its purpose.

Correct Answer
verified
The World Trade Organization (WTO)was fo...
View Answer

Which of the following statements about world trade flows is most accurate?

Correct Answer
verified

Private enterprise dominates __________ countries,although they have substantial public sectors as well.

Correct Answer
verified

Michael Porter has identified four key elements in a nation's competitive advantage: factor conditions; demand conditions; __________; and company strategy,structure,and rivalry.

Correct Answer
verified

Cultural symbols refer to

Correct Answer
verified

firm's profit potential and control over marketing activities increases as it moves from exporting to direct investment as a global market-entry strategy.But so does the firm's

Correct Answer
verified

Exam 7: Understanding and Reaching Global Consumers and Markets

an example of a global channel of distribution.

Correct AnswerverifiedFigure 7-7 outlines the channel through ...View AnswerShow Answer

estimated cost of economic espionage to firms in the United States is estimated to be

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

skillfully using __________,global marketers can tie positive symbolism to their products,services,and brands to enhance their attractiveness to consumers.

Correct AnswerverifiedShow Answer

Japanese car safety rules require all automobile replacement parts to be Japanese and EU nations have 10,000 rules that specify how goods are to be made and marketed.These are examples of

Correct AnswerverifiedShow Answer

prescribed penalty for individuals found guilty of the theft of trade secrets is

Correct AnswerverifiedShow Answer

Global companies have five strategies for matching products and their promotion efforts to global markets.Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of strategy?

Correct AnswerverifiedShow Answer

Competitive advantage for global firms grows out of continuous improvement,innovation,and __________.

Correct AnswerverifiedShow Answer

Tariffs refer to

Correct AnswerverifiedShow Answer

Fluctuations in the __________ among the world's currencies have direct impact on the sales and profits made by global companies.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following types of firms would be most likely to use a global marketing strategy?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Briefly describe the World Trade Organization (WTO)and its purpose.

Correct AnswerverifiedThe World Trade Organization (WTO)was fo...View AnswerShow Answer

Which of the following statements about world trade flows is most accurate?

Correct AnswerverifiedShow Answer

Private enterprise dominates __________ countries,although they have substantial public sectors as well.

Correct AnswerverifiedShow Answer

Michael Porter has identified four key elements in a nation's competitive advantage: factor conditions; demand conditions; __________; and company strategy,structure,and rivalry.

Correct AnswerverifiedShow Answer

Cultural symbols refer to

Correct AnswerverifiedShow Answer

firm's profit potential and control over marketing activities increases as it moves from exporting to direct investment as a global market-entry strategy.But so does the firm's

Correct AnswerverifiedShow Answer

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Figure 7-7 outlines the channel through ...
View Answer

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The World Trade Organization (WTO)was fo...
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