Answers on Chapter 5 Quiz Flashcards

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

The solving of promotional and product problems guarantees global marketing success.

Franchising is a form of exporting.

In general, average family incomes are higher in the more developed countries than in the less developed countries.

Global marketers use social media not only for understanding customers but also to build their brands as they expand internationally.

Sinesia is a country that is famous for its vast deposits of cobalt, a material that is used to make high-speed and high-temperature cutting tools and dyes. A company that wants to manufacture tools for shaping steel would be most attracted to Sinesia's:

​The _____ is a trade agreement that has dramatically lowered trade barriers worldwide and also created the World Trade Organization.

Once marketing managers have determined a global product and promotion strategy, they can select the remainder of the marketing mix. However, entry into many developing nations presents special pricing problems because:

​A company is most likely doomed to failure in a foreign country if it _____.

Which of the following is true of franchising? It is a form of contract manufacturing. It has grown rapidly in recent years. It is restricted to the market of fast-food restaurants. It requires an export agent and an export broker to be successful.