Global Marketing Test 1
Starbucks’ overall marketing strategy is based on ________.
A.
a penetration strategy
B.
a diversification strategy
C.
a market development strategy
D.
all four growth strategies
E.
product development strategy
D. all four growth strategies
In which of the following growth strategies are loyalty or rewards programs most utilized?
A.
Market development
B.
Globalization
C.
Market expansion
D.
Market penetration
E.
Diversification
D. Market penetration
Global marketing causes a company to focus on ________.
A.
the company’s efforts to satisfy customer wants and needs
B.
creating a new product, targeting a new country
C.
logistics
D.
the product price
E.
its resources and competencies on global market opportunities and threats
E. its resources and competencies on global market opportunities and threats
A diversification strategy is one in which a company ________.
A.
uses the marketing mix
B.
eliminates the number in its product portfolio
C.
engages in global marketing
D.
creates and communicates its offerings
E.
creates a new product or service offering targeting a new segment
E. creates a new product or service offering targeting a new segment
When Starbucks dropped the word “coffee” from its logo, which growth strategy was it executing?
A.
Market penetration
B.
Product development
C.
Market development
D.
Market pricing
E.
Diversification
E. Diversification
A company’s value chain is made up of ________.
A.
value, price, and benefits
B.
marketing, finance, and operations
C.
marketing processes
D.
marketing, product design, manufacturing, and transportation logistics
E.
marketing, product design, product pricing, manufacturing, and globalization
D. marketing, product design, manufacturing, and transportation logistics
The value equation is ________.
A.
Value = Benefits/Price
B.
Benefits = Price
times×
Value
C.
Value = Time
times×
Money
D.
Price = Benefits
times×
Value
E.
Value = Price/Exchange rate
A. Value = Benefits/Price
When a company succeeds in creating more value for customers than its competitors do, what is the company enjoying?
A.
Competitive advantage
B.
Market penetration
C.
Successful marketing
D.
Globalization
E.
More media exposure
A. Competitive advantage
In which type of company is competitive advantage achieved by integrating and leveraging operations on a worldwide scale?
A.
Local industry
B.
Focus industry
C.
Global industry
D.
National industry
E.
Profitable industry
C. Global industry
________ is the concentration of attention on a core business or competence.
A.
Product development
B.
Focus
C.
Marketing mix
D.
Global marketing
E.
Diversification
B. Focus
Why does Nike use the slogan “Here I am” in Europe as opposed to “Just Do It”?
A.
Nike did not want to have the same slogan in more than one country.
B.
“Just Do It” can’t be translated.
C.
Women in Europe are not as competitive in sports.
D.
“Just Do It” has been used for too long.
E.
“Just Do It” was already used by a competitor in Europe.
C. Women in Europe are not as competitive in sports.
Which of the following is the key difference between a single-country marketing strategy and a global strategy?
A.
Choosing a target market
B.
Positioning
C.
Developing a marketing mix
D.
Segmentation
E.
Determining the extent of adaptation
E. Determining the extent of adaptation
________ is the extent to which a firm’s competitive marketing tactics in different parts of the world are interdependent.
A.
Adaptation
B.
Concentration of marketing activities
C.
Integration of competitive moves
D.
Economies of scale
E.
Coordination of marketing activities
C. Integration of competitive moves
Which of the following market groups represents the greatest growth opportunities for marketers?
A.
NAFTA
B.
MINT
C.
BRICS
D.
EU
E.
WTO
C. BRICS
What is considered the “key” to Coca-Cola’s worldwide success?
A.
Original bottling
B.
Successful lifestyle branding
C.
Global marketing
D.
Continually winning in taste tests
E.
Great advertisements
C. Global marketing
What does global localization really mean?
A.
Think globally and act locally
B.
Running your company in all countries like you would run it locally
C.
Ensuring that every country understands the 4 P’s
D.
Understanding the competitive advantage in all markets
E.
Becoming a homogeneous global village
A. Think globally and act locally
Why must U.S. companies “go global”?
A.
75% of world market potential is outside their home country.
B.
The United States has no companies listed on the Global 500 rankings.
C.
90% of the world potential for companies lies in Japan.
D.
The U.S. is no longer a solid source of business.
E.
The dollar value in the United States is stronger when doing business globally.
A. 75% of world market potential is outside their home country.
Fortune magazine’s Global 500 rankings are based on which of the following?
A.
Total assets
B.
Number of employees
C.
Revenues
D.
Number of products in the portfolio
E.
Number of locations
C. Revenues
________ management orientation views the entire world as a potential market.
A.
Multinational
B.
Polycentric
C.
Regiocentric
D.
Ethnocentric
E.
Geocentric
E. Geocentric
A person who assumes that his or her home county is superior to the rest of the world is said to have what type of orientation?
A.
Regiocentric
B.
Ethnocentric
C.
Geocentric
D.
Ecocentric
E.
Polycentric
B. Ethnocentric
A company that views the entire world as a potential market and strives to develop integrated global strategies has which type of orientation?
A.
Ethnocentric
B.
Multi-national
C.
Multilateral
D.
Geocentric
E.
Regiocentric
D. Geocentric
Which countries are part of NAFTA?
A.
Canada, Greenland, and England
B.
Canada, United States, and China
C.
United States, Mexico, and Canada
D.
Mexico, Columbia, and Brazil
E.
Mexico, United States, and Brazil
C. United States, Mexico, and Canada
In the context of global marketing, leverage is ________.
A.
associated with attitudes of national arrogance
B.
some type of advantage that a company enjoys by virtue of the fact that it has experience in more than one country
C.
measured relative to rivals in a given industry
D.
the ability to scan the entire world to identify people, money, and raw materials that will enable it to compete most effectively
E.
built on an information system that scans the world business environment
B. some type of advantage that a company enjoys by virtue of the fact that it has experience in more than one country
What are NTBs?
A.
Nautical Tariff Barriers
B.
Normal Tariff Barriers
C.
Nigerian Traditional Business’s
D.
Nontariff Barriers
E.
Non-Tactical Business Strategies
D. Nontariff Barriers
What was the controversy surrounding the U.S. 2012 Olympic Opening Ceremony uniforms?
A.
They were not red, white, and blue.
B.
They were too revealing.
C.
They were made only for the male team members.
D.
They were made in China.
E.
They were made by a company that charged too much money.
D. They were made in China.
Quiz 2
Quiz 2
Which of the following is the most fundamental change in the world economy since WWII?
A.
Emergence of green companies
B.
Emergence of European nameplates
C.
Emergence of global markets
D.
Emergence of free trade
E.
Emergence of market capitalism
A.
Emergence of green companies
B.
Emergence of European nameplates
C.
Emergence of global markets
D.
Emergence of free trade
E.
Emergence of market capitalism
C.
Emergence of global markets
Emergence of global markets
Which of the following countries is part of the BRICS nations?
A.
The United States
B.
Great Britain
C.
Germany
D.
Japan
E.
China
A.
The United States
B.
Great Britain
C.
Germany
D.
Japan
E.
China
E.
China
China
Which of the following represents the world’s largest market?
A.
Currency trading
B.
Services
C.
Automobile trading
D.
Entrepreneurial businesses
E.
Non-profit selling
A.
Currency trading
B.
Services
C.
Automobile trading
D.
Entrepreneurial businesses
E.
Non-profit selling
A.
Currency trading
Currency trading
Economic growth is measured by Gross Domestic Product (GDP) and reflects a nation’s ________.
A.
balance of trade
B.
productivity
C.
unemployment rate
D.
budget deficits or surplus
E.
currency valuation
A.
balance of trade
B.
productivity
C.
unemployment rate
D.
budget deficits or surplus
E.
currency valuation
B.
productivity
productivity
__________ have replaced trade as the driving force of the world economy.
A.
Government purchases
B.
Global capital movement
C.
Barters
D.
Services
E.
E-commerce transactions
A.
Government purchases
B.
Global capital movement
C.
Barters
D.
Services
E.
E-commerce transactions
B.
Global capital movement
Global capital movement
________ is the economic system where customers are free to purchase whatever is available, yet demand usually exceeds supply.
A.
Centrally planned capitalism
B.
Market socialism
C.
Centrally planned socialism
This is the correct answer.D.
Command allocation
E.
Market capitalism
A.
Centrally planned capitalism
B.
Market socialism
C.
Centrally planned socialism
This is the correct answer.D.
Command allocation
E.
Market capitalism
C.
Centrally planned socialism
Centrally planned socialism
As a consideration in categorizing economic systems, the commanding heights refers to which of the following?
A.
State-provided services
B.
Types of institutions
C.
Types of markets
D.
The ownership and control status of industry sectors
This is the correct answer.E.
Types of government
A.
State-provided services
B.
Types of institutions
C.
Types of markets
D.
The ownership and control status of industry sectors
This is the correct answer.E.
Types of government
D.
The ownership and control status of industry sectors
The ownership and control status of industry sectors
In which of the following systems do consumers decide what goods they desire, and firms determine what and how much of those goods to produce?
A.
Centrally planned capitalism
B.
Market capitalism
This is the correct answer.C.
Market communism
D.
Market socialism
E.
Centrally planned socialism
A.
Centrally planned capitalism
B.
Market capitalism
This is the correct answer.C.
Market communism
D.
Market socialism
E.
Centrally planned socialism
B.
Market capitalism
Market capitalism
Private ownership and a free enterprise economy are key to which of the Western Market Systems?
A.
The Nordic model
B.
The social market economy model
C.
The communist model
D.
The American model
E.
The Anglo-Saxon model
A.
The Nordic model
B.
The social market economy model
C.
The communist model
D.
The American model
E.
The Anglo-Saxon model
E.
The Anglo-Saxon model
The Anglo-Saxon model
In a ________ economic system, the state has broad powers to serve the public interest as it sees fit.
A.
centrally planned socialism
This is the correct answer.B.
market capitalism
C.
centrally planned capitalism
D.
market socialism
E.
market communism
A.
centrally planned socialism
This is the correct answer.B.
market capitalism
C.
centrally planned capitalism
D.
market socialism
E.
market communism
A.
centrally planned socialism
centrally planned socialism
Centrally planned capitalism is an economic system in which ____________.
A.
the state has broad powers to serve the public interest as it sees fit
B.
command resource allocation is utilized extensively in an overall environment of private resource ownership
This is the correct answer.C.
consumers decide what goods they desire, and firms determine how much of those goods to produce
D.
individuals and firms allocate resources, and product resources are privately owned
E.
market-allocation policies are permitted within an overall environment of state ownership
A.
the state has broad powers to serve the public interest as it sees fit
B.
command resource allocation is utilized extensively in an overall environment of private resource ownership
This is the correct answer.C.
consumers decide what goods they desire, and firms determine how much of those goods to produce
D.
individuals and firms allocate resources, and product resources are privately owned
E.
market-allocation policies are permitted within an overall environment of state ownership
B.
command resource allocation is utilized extensively in an overall environment of private resource ownership
command resource allocation is utilized extensively in an overall environment of private resource ownership
________ is an approach in an economy where the government decides what goods are produced, how much is produced, and the price of the goods.
A.
Centrally planned socialism
B.
Market capitalism
C.
Centrally planned capitalism
D.
Command resource
E.
Command allocation
A.
Centrally planned socialism
B.
Market capitalism
C.
Centrally planned capitalism
D.
Command resource
E.
Command allocation
E.
Command allocation
Command allocation
Which of the following explains why Sweden’s economic system is considered a hybrid of capitalism and centrally planned socialism?
A.
Resource allocation is market oriented.
B.
The government does not hold ownership share in corporations.
C.
Sweden operates a so-called “welfare state.”
D.
Sweden’s economy is based on state ownership and private ownership.
This is the correct answer.E.
The Swedish government has tight controls over production.
A.
Resource allocation is market oriented.
B.
The government does not hold ownership share in corporations.
C.
Sweden operates a so-called “welfare state.”
D.
Sweden’s economy is based on state ownership and private ownership.
This is the correct answer.E.
The Swedish government has tight controls over production.
D.
Sweden’s economy is based on state ownership and private ownership.
Sweden’s economy is based on state ownership and private ownership.
The Heritage Foundation ranked ________ first in economic freedom.
A.
the United States
B.
Brazil
C.
Australia
D.
Switzerland
E.
Hong Kong
A.
the United States
B.
Brazil
C.
Australia
D.
Switzerland
E.
Hong Kong
E.
Hong Kong
Hong Kong
The majority of the nations the WTO considers low-income are located in ________.
A.
Sub-Saharan Africa
This is the correct answer.B.
Asia
C.
The Middle East
D.
Europe
E.
Latin America
A.
Sub-Saharan Africa
This is the correct answer.B.
Asia
C.
The Middle East
D.
Europe
E.
Latin America
A.
Sub-Saharan Africa
Sub-Saharan Africa
________ represents the largest single market for foreign investment in the developing world.
A.
Brazil
B.
Russia
C.
South Africa
D.
China
This is the correct answer.E.
India
A.
Brazil
B.
Russia
C.
South Africa
D.
China
This is the correct answer.E.
India
D.
China
China
Based on the stages of market development, upper-middle-income countries have a 2013 GDP of how many millions?
A.
612.7
B.
5,234,000
C.
18,690,000
This is the correct answer.D.
5,369,000
E.
45,760,000
A.
612.7
B.
5,234,000
C.
18,690,000
This is the correct answer.D.
5,369,000
E.
45,760,000
C.
18,690,000
18,690,000
Which country was the last to join the BRICS nations?
A.
India
B.
South Africa
This is the correct answer.C.
Brazil
D.
Russia
E.
China
A.
India
B.
South Africa
This is the correct answer.C.
Brazil
D.
Russia
E.
China
B.
South Africa
South Africa
The G-7 became the G-8 with the inclusion of which country in 1998?
A.
Canada
B.
Italy
C.
Japan
D.
Russia
This is the correct answer.E.
United States
A.
Canada
B.
Italy
C.
Japan
D.
Russia
This is the correct answer.E.
United States
D.
Russia
Russia
Which of the following has been considered the “economic think tank”?
A.
World Trade Organization
B.
Group of Eight (G-8)
C.
Organization for Economic Cooperation and Development (OECD)
This is the correct answer.D.
Group of Seven (G-7)
E.
Group of Twenty (G-20)
A.
World Trade Organization
B.
Group of Eight (G-8)
C.
Organization for Economic Cooperation and Development (OECD)
This is the correct answer.D.
Group of Seven (G-7)
E.
Group of Twenty (G-20)
C.
Organization for Economic Cooperation and Development (OECD)
Organization for Economic Cooperation and Development (OECD)
Which nation has larger foreign reserves than any other nation?
A.
The United States
B.
Russia
C.
Brazil
D.
China
This is the correct answer.E.
The United Kingdom
A.
The United States
B.
Russia
C.
Brazil
D.
China
This is the correct answer.E.
The United Kingdom
D.
China
China
________ results when the outflow of money to pay for imports exceeds the inflow of money from the sale of exports.
A.
A trade surplus
B.
A merchandise trade transaction
C.
A balance of payments
D.
A services trade transaction
E.
A trade deficit
A.
A trade surplus
B.
A merchandise trade transaction
C.
A balance of payments
D.
A services trade transaction
E.
A trade deficit
E.
A trade deficit
A trade deficit
In 2012, which of the following countries was the world’s leading exporter?
A.
The United States
B.
China
This is the correct answer.C.
Japan
D.
Germany
E.
Brazil
A.
The United States
B.
China
This is the correct answer.C.
Japan
D.
Germany
E.
Brazil
B.
China
China
Which foreign currency option is the right, but not the obligation, to buy foreign currency?
A.
Put option
B.
Revaluation
C.
Hedging
D.
Call option
This is the correct answer.E.
Forward Market option
A.
Put option
B.
Revaluation
C.
Hedging
D.
Call option
This is the correct answer.E.
Forward Market option
D.
Call option
Call option
A reduction in the value of a nation’s currency against other currencies is known as ________.
A.
trade deficit
B.
revaluation
C.
capitalism
D.
devaluation
This is the correct answer.E.
spot market
A.
trade deficit
B.
revaluation
C.
capitalism
D.
devaluation
This is the correct answer.E.
spot market
D.
devaluation
devaluation
Quiz 3
Quiz 3
Which organization provides a forum for trade-related negotiations among its members?
A.
World Trade Organization
B.
Common Market
C.
Transatlantic Trade and Investment Partnership
D.
General Agreement on Tariffs and Trade
E.
European Union
A.
World Trade Organization
B.
Common Market
C.
Transatlantic Trade and Investment Partnership
D.
General Agreement on Tariffs and Trade
E.
European Union
A.
World Trade Organization
World Trade Organization
Which of the following best describes the function of World Trade Organization (WTO)?
A.
Eliminate tariffs and other barriers to trade.
B.
Provide a forum for trade-related negotiations.
C.
Create the European Union.
D.
Eliminate any quota systems.
E.
Establish special treatment agreements between trade partners.
A.
Eliminate tariffs and other barriers to trade.
B.
Provide a forum for trade-related negotiations.
C.
Create the European Union.
D.
Eliminate any quota systems.
E.
Establish special treatment agreements between trade partners.
B.
Provide a forum for trade-related negotiations.
Provide a forum for trade-related negotiations.
A(n) ________ seeks to coordinate and harmonize economic and social policies to facilitate the free flow of capital, labor, and goods and services from country to country.
A.
Free trade area
B.
Common market
C.
Consumer trade organization
D.
Economic union
E.
Customs union
A.
Free trade area
B.
Common market
C.
Consumer trade organization
D.
Economic union
E.
Customs union
D.
Economic union
Economic union
A preferential trade agreement (PTA) is ________.
A.
an organization that provides a forum for trade-related negotiations among its 160 members
B.
a mechanism that confers special treatment on select trading partners
C.
a group that mediates complaints concerning unfair trade barriers
D.
a treaty among nations whose governments agreed to promote trade among members
E.
the coming together of varying standards and regulations
A.
an organization that provides a forum for trade-related negotiations among its 160 members
B.
a mechanism that confers special treatment on select trading partners
C.
a group that mediates complaints concerning unfair trade barriers
D.
a treaty among nations whose governments agreed to promote trade among members
E.
the coming together of varying standards and regulations
B.
a mechanism that confers special treatment on select trading partners
a mechanism that confers special treatment on select trading partners
What is formed when two or more countries agree to eliminate tariffs and other barriers that restrict trade?
A.
World Trade Organization
B.
European Union
C.
Common market
D.
Customs union
E.
Free trade area
A.
World Trade Organization
B.
European Union
C.
Common market
D.
Customs union
E.
Free trade area
E.
Free trade area
Free trade area
In October 2011, the U.S. Congress finally ratified long-delayed FTAs with which of the following countries?
A.
Colombia, Mexico, and Venezuela
B.
Canada, Mexico, and Brazil
C.
South Korea, Colombia, and Panama
D.
Norway, United Kingdom, and Iceland
E.
South Korea, Japan, and Taiwan
A.
Colombia, Mexico, and Venezuela
B.
Canada, Mexico, and Brazil
C.
South Korea, Colombia, and Panama
D.
Norway, United Kingdom, and Iceland
E.
South Korea, Japan, and Taiwan
C.
South Korea, Colombia, and Panama
South Korea, Colombia, and Panama
The signing of the Maastricht Treaty set the stage for the creation of ________.
A.
common external tariffs
B.
the European commission
C.
Mercosur
D.
the European common market
E.
the European Central Bank and the euro currency
A.
common external tariffs
B.
the European commission
C.
Mercosur
D.
the European common market
E.
the European Central Bank and the euro currency
E.
the European Central Bank and the euro currency
the European Central Bank and the euro currency
Which of the following is a common marketplace not only for goods but also for services and capital?
A.
Common market
B.
Customs union
C.
Economic union
This is the correct answer.D.
Harmonizations
E.
Free trade area
A.
Common market
B.
Customs union
C.
Economic union
This is the correct answer.D.
Harmonizations
E.
Free trade area
C.
Economic union
Economic union
NAFTA includes which three countries?
A.
Mexico, Columbia, and Venezuela
B.
United States, Mexico, and Cuba
C.
Canada, Russia, and Greenland
D.
United States, Canada, and Russia
E.
United States, Canada, and Mexico
A.
Mexico, Columbia, and Venezuela
B.
United States, Mexico, and Cuba
C.
Canada, Russia, and Greenland
D.
United States, Canada, and Russia
E.
United States, Canada, and Mexico
E.
United States, Canada, and Mexico
United States, Canada, and Mexico
Which of the following is the number one trading partner of the United States?
A.
Japan
B.
Mexico
C.
Canada
This is the correct answer.D.
China
E.
Germany
A.
Japan
B.
Mexico
C.
Canada
This is the correct answer.D.
China
E.
Germany
C.
Canada
Canada
________ is Mercosur’s number one trading partner.
A.
The European Union
This is the correct answer.B.
India
C.
The Andean Community
D.
China
E.
The United States
A.
The European Union
This is the correct answer.B.
India
C.
The Andean Community
D.
China
E.
The United States
A.
The European Union
The European Union
The acronym for the Central American Integration System is ________.
A.
CAIS
B.
SICA
This is the correct answer.C.
CNAIS
D.
ICA
E.
IS
A.
CAIS
B.
SICA
This is the correct answer.C.
CNAIS
D.
ICA
E.
IS
B.
SICA
SICA
DR-CAFTA includes which SICA members?
A.
Mexico, Costa Rica, Colombia, Bolivia, and Nicaragua
B.
Guatemala, El Salvador, Mexico, Peru, and Panama
C.
El Salvador, Honduras, Guatemala, Nicaragua, and Costa Rica
This is the correct answer.D.
Panama, El Salvador, Guatemala, Dominican Republic, and Mexico
E.
Bolivia, Peru, Panama, Honduras, and Guatemala
A.
Mexico, Costa Rica, Colombia, Bolivia, and Nicaragua
B.
Guatemala, El Salvador, Mexico, Peru, and Panama
C.
El Salvador, Honduras, Guatemala, Nicaragua, and Costa Rica
This is the correct answer.D.
Panama, El Salvador, Guatemala, Dominican Republic, and Mexico
E.
Bolivia, Peru, Panama, Honduras, and Guatemala
C.
El Salvador, Honduras, Guatemala, Nicaragua, and Costa Rica
El Salvador, Honduras, Guatemala, Nicaragua, and Costa Rica
Which of the following helps to explain why the Andean Community has not yielded more economic benefits?
A.
Competing political ideologies
This is the correct answer.B.
Disproportionate population growth
C.
Diverse GDPs
D.
Dissimilar geography
E.
Language barriers
A.
Competing political ideologies
This is the correct answer.B.
Disproportionate population growth
C.
Diverse GDPs
D.
Dissimilar geography
E.
Language barriers
A.
Competing political ideologies
Competing political ideologies
CARICOM members are from which geographical region?
A.
Southern Europe
B.
Central America
C.
The Caribbean
This is the correct answer.D.
Eastern Europe
E.
Southeast Asia
A.
Southern Europe
B.
Central America
C.
The Caribbean
This is the correct answer.D.
Eastern Europe
E.
Southeast Asia
C.
The Caribbean
The Caribbean
Which nation was the first Communist nation to join ASEAN?
A.
Thailand
B.
Singapore
C.
Vietnam
This is the correct answer.D.
Burma
E.
Indonesia
A.
Thailand
B.
Singapore
C.
Vietnam
This is the correct answer.D.
Burma
E.
Indonesia
C.
Vietnam
Vietnam
Which three countries were informally added to the ASEAN roster, causing some to call it ASEAN + 3?
A.
Japan, China, and Korea
This is the correct answer.B.
Japan, China, and India
C.
Cambodia, Laos, and Korea
D.
Cambodia, Japan, and India
E.
China, Korea, and India
A.
Japan, China, and Korea
This is the correct answer.B.
Japan, China, and India
C.
Cambodia, Laos, and Korea
D.
Cambodia, Japan, and India
E.
China, Korea, and India
A.
Japan, China, and Korea
Japan, China, and Korea
Which of the following is the most significant challenge to a fully integrated ASEAN economic community?
A.
ASEAN member-nations representing widely varying stages of development
This is the correct answer.B.
Varying political systems of the member nations
C.
Historical conflicts between member nations
D.
Resentment of China’s “flood” of low-cost imports into member nations
E.
Geographically separated members
A.
ASEAN member-nations representing widely varying stages of development
This is the correct answer.B.
Varying political systems of the member nations
C.
Historical conflicts between member nations
D.
Resentment of China’s “flood” of low-cost imports into member nations
E.
Geographically separated members
A.
ASEAN member-nations representing widely varying stages of development
ASEAN member-nations representing widely varying stages of development
The European Union is headquartered in which of the following cities?
A.
Brussels
This is the correct answer.B.
Paris
C.
London
D.
Copenhagen
E.
Luxembourg
A.
Brussels
This is the correct answer.B.
Paris
C.
London
D.
Copenhagen
E.
Luxembourg
A.
Brussels
Brussels
Which of the following organizations constitutes the world’s largest economy?
A.
WTO
B.
ASEAN
C.
EU
This is the correct answer.D.
DR-CAFTA
E.
NAFTA
A.
WTO
B.
ASEAN
C.
EU
This is the correct answer.D.
DR-CAFTA
E.
NAFTA
C.
EU
EU
Which of the following terms is used to express the idea that content and other product standards that varied among nations have been brought into alignment.
A.
Coordination
B.
Transparency
C.
Simplicity
D.
Harmonization
E.
Synchronization
A.
Coordination
B.
Transparency
C.
Simplicity
D.
Harmonization
E.
Synchronization
D.
Harmonization
Harmonization
Which of the following is the name for the economic and monetary union that includes a European central bank and a single European currency?
A.
Maastricht Treaty
B.
European Union
C.
Euro Zone
D.
European Commission
E.
Eurasian Economic Union
A.
Maastricht Treaty
B.
European Union
C.
Euro Zone
D.
European Commission
E.
Eurasian Economic Union
C.
Euro Zone
Euro Zone
Which of the following is the KEY regional organization in the Middle East?
A.
The Arab League (AL)
B.
The Arab Cooperation Council (ACC)
C.
The Gulf Cooperation Council (GCC)
D.
The Arab Maghreb Union (AMU)
E.
The Middle East Trade Union (METU)
A.
The Arab League (AL)
B.
The Arab Cooperation Council (ACC)
C.
The Gulf Cooperation Council (GCC)
D.
The Arab Maghreb Union (AMU)
E.
The Middle East Trade Union (METU)
C.
The Gulf Cooperation Council (GCC)
The Gulf Cooperation Council (GCC)
Which of the following organizations is striving to speak “as one voice” regarding political turmoil in the Middle East?
A.
The ACC
B.
APEC
C.
The GCC
D.
The EU
E.
The AMU
A.
The ACC
B.
APEC
C.
The GCC
D.
The EU
E.
The AMU
C.
The GCC
The GCC
North Africa and the Middle East are viewed as a region known as ________.
A.
ECOWAS
B.
OPEC
C.
NAFTA
D.
SADC
E.
Mena
A.
ECOWAS
B.
OPEC
C.
NAFTA
D.
SADC
E.
Mena
E.
Mena
Mena
Quiz 4
Quiz 4
Hofstede’s “collective programming of the mind” refers to which of the following?
A.
Religion
B.
Aesthetics
C.
Social institutions
D.
Culture
This is the correct answer.E.
Digital technology
A.
Religion
B.
Aesthetics
C.
Social institutions
D.
Culture
This is the correct answer.E.
Digital technology
D.
Culture
Culture
A culture’s sense of what is beautiful and what is not beautiful is a consideration of ________.
A.
beliefs
B.
dietary preferences
C.
religion
D.
attitude
E.
aesthetics
A.
beliefs
B.
dietary preferences
C.
religion
D.
attitude
E.
aesthetics
E.
aesthetics
aesthetics
Which of the following is an example of subjective or abstract culture?
A.
Movies
B.
Religion
This is the correct answer.C.
Cosmetics
D.
Clothing
E.
Automobiles
A.
Movies
B.
Religion
This is the correct answer.C.
Cosmetics
D.
Clothing
E.
Automobiles
B.
Religion
Religion
________ consists of various cultural segments interconnected through digital technology and global branding.
A.
The cosmopolitan culture
This is the correct answer.B.
The credit card culture
C.
The pub culture
D.
The fast-food culture
E.
The coffee culture
A.
The cosmopolitan culture
This is the correct answer.B.
The credit card culture
C.
The pub culture
D.
The fast-food culture
E.
The coffee culture
A.
The cosmopolitan culture
The cosmopolitan culture
All associations and perceptions of ________ arise from culture.
A.
color
This is the correct answer.B.
performing arts
C.
dance
D.
advertising
E.
music
A.
color
This is the correct answer.B.
performing arts
C.
dance
D.
advertising
E.
music
A.
color
color
The system of meaning in the study of linguistics is called ________.
A.
syntax
B.
morphology
C.
semiotics
D.
phonology
E.
semantics
A.
syntax
B.
morphology
C.
semiotics
D.
phonology
E.
semantics
E.
semantics
semantics
In a high-context cultural orientation, which of the following is of LOW importance?
A.
Allowing for personal space
B.
A person’s position or status
C.
An established inter-personal relationship
D.
Punctuality
E.
Legal documents
A.
Allowing for personal space
B.
A person’s position or status
C.
An established inter-personal relationship
D.
Punctuality
E.
Legal documents
E.
Legal documents
Legal documents
In a low-context culture, which of the following is of HIGH importance?
A.
Lengthy negotiations
B.
Status of the participants
C.
Relationships
D.
Individual family backgrounds
E.
Written contracts
A.
Lengthy negotiations
B.
Status of the participants
C.
Relationships
D.
Individual family backgrounds
E.
Written contracts
E.
Written contracts
Written contracts
Which of the following of Hofstede’s dimensions of culture can be applied to gender differences in culture?
A.
Individualistic/collectivistic
B.
Achievement/nurturing
This is the correct answer.C.
High power-distance/low power-distance
D.
High uncertainty avoidance/low uncertainty avoidance
E.
Short-term/long-term orientation
A.
Individualistic/collectivistic
B.
Achievement/nurturing
This is the correct answer.C.
High power-distance/low power-distance
D.
High uncertainty avoidance/low uncertainty avoidance
E.
Short-term/long-term orientation
B.
Achievement/nurturing
Achievement/nurturing
Which of the following dimensions of national culture would most likely prefer joint ventures rather than sole ownership?
A.
Achievement
B.
Low-power distance index
This is the correct answer.C.
High-power distance index
D.
Long-term orientation
E.
Individualistic
A.
Achievement
B.
Low-power distance index
This is the correct answer.C.
High-power distance index
D.
Long-term orientation
E.
Individualistic
B.
Low-power distance index
Low-power distance index
Which of the following dimensions of social value typology assesses whether gratification should be immediate or deferred?
A.
Self-reference criterion
B.
Individualistic/collectivistic
C.
High power/low power index
D.
Short-term/long-term orientation
This is the correct answer.E.
Uncertainty avoidance
A.
Self-reference criterion
B.
Individualistic/collectivistic
C.
High power/low power index
D.
Short-term/long-term orientation
This is the correct answer.E.
Uncertainty avoidance
D.
Short-term/long-term orientation
Short-term/long-term orientation
Which of the following dimensions of Hofstede’s cultural typology was added based on a Chinese Value Survey (CVS)?
A.
Achievement/nurturing
B.
Power distance
C.
Long-term/short-term orientation
This is the correct answer.D.
Uncertainty avoidance
E.
Individualism/collectivism
A.
Achievement/nurturing
B.
Power distance
C.
Long-term/short-term orientation
This is the correct answer.D.
Uncertainty avoidance
E.
Individualism/collectivism
C.
Long-term/short-term orientation
Long-term/short-term orientation
Which of Hofstede’s dimensions of national culture examines how people value history and tradition?
A.
Individualism
B.
Power distance orientation
C.
Uncertainty avoidance orientation
D.
Achievement orientation
E.
Short-term orientation
A.
Individualism
B.
Power distance orientation
C.
Uncertainty avoidance orientation
D.
Achievement orientation
E.
Short-term orientation
E.
Short-term orientation
Short-term orientation
Which of the following best defines the self-reference criterion?
A.
The unconscious reference to one’s own cultural values
This is the correct answer.B.
The belief that culture is not important in market analysis
C.
The belief that all people hold the same values regardless of nationality
D.
Using our own culture as a benchmark for performance
E.
The belief that one’s own country has the best ideas
A.
The unconscious reference to one’s own cultural values
This is the correct answer.B.
The belief that culture is not important in market analysis
C.
The belief that all people hold the same values regardless of nationality
D.
Using our own culture as a benchmark for performance
E.
The belief that one’s own country has the best ideas
A.
The unconscious reference to one’s own cultural values
The unconscious reference to one’s own cultural values
Which of the following steps of the framework designed to reduce the distortion from self-reference criterion (SRC) is MOST critical?
A.
Isolate the SRC influence to see how it complicates the problem.
This is the correct answer.B.
Define the goal in terms of home-country culture.
C.
Create a standardized marketing strategy.
D.
Define the goal in marketing terms.
E.
Define the goal in terms of market-country culture.
A.
Isolate the SRC influence to see how it complicates the problem.
This is the correct answer.B.
Define the goal in terms of home-country culture.
C.
Create a standardized marketing strategy.
D.
Define the goal in marketing terms.
E.
Define the goal in terms of market-country culture.
A.
Isolate the SRC influence to see how it complicates the problem.
Isolate the SRC influence to see how it complicates the problem.
Of the five adopter categories, which of the following would be the FIRST to adopt a new idea or a new product?
A.
Late majority
B.
Early adopters
C.
Early majority
D.
Laggards
E.
Innovators
A.
Late majority
B.
Early adopters
C.
Early majority
D.
Laggards
E.
Innovators
E.
Innovators
Innovators
________ is the first stage of Rogers’ diffusion theory.
A.
Interest
B.
Awareness
This is the correct answer.C.
Adoption
D.
Evaluation
E.
Trial
A.
Interest
B.
Awareness
This is the correct answer.C.
Adoption
D.
Evaluation
E.
Trial
B.
Awareness
Awareness
________ is how a new product compares with existing products in the eyes of the customer.
A.
Relative advantage
This is the correct answer.B.
Complexity
C.
Divisibility
D.
Communicability
E.
Compatibility
A.
Relative advantage
This is the correct answer.B.
Complexity
C.
Divisibility
D.
Communicability
E.
Compatibility
A.
Relative advantage
Relative advantage
The process through which individuals who have adopted innovation influence others is called ________.
A.
interaction effect
This is the correct answer.B.
the diffusion network
C.
word-of-mouth
D.
relative advantage
E.
referral syndrome
A.
interaction effect
This is the correct answer.B.
the diffusion network
C.
word-of-mouth
D.
relative advantage
E.
referral syndrome
A.
interaction effect
interaction effect
Which of the following best describes newness or innovations?
A.
A product can be declining in one market and an innovation can occur in another at the same time.
This is the correct answer.B.
Based on diffusion theory, the majority of people are open to new ideas or products.
C.
From a marketer’s perspective, once a product has been introduced in one market, it is no longer new.
D.
The perception of newness is the same in every culture.
E.
Once a product is accepted by laggards, it should be discarded or discontinued.
A.
A product can be declining in one market and an innovation can occur in another at the same time.
This is the correct answer.B.
Based on diffusion theory, the majority of people are open to new ideas or products.
C.
From a marketer’s perspective, once a product has been introduced in one market, it is no longer new.
D.
The perception of newness is the same in every culture.
E.
Once a product is accepted by laggards, it should be discarded or discontinued.
A.
A product can be declining in one market and an innovation can occur in another at the same time.
A product can be declining in one market and an innovation can occur in another at the same time.
Which category of adopters has the greatest influence on people in their community?
A.
Innovators
B.
Late majority
C.
Early majority
D.
Laggards
E.
Early adopters
A.
Innovators
B.
Late majority
C.
Early majority
D.
Laggards
E.
Early adopters
E.
Early adopters
Early adopters
Which of the following categories of product is considered the MOST environmentally sensitive?
A.
Cosmetics
B.
Sports equipment
C.
Food and beverage
This is the correct answer.D.
Technical equipment
E.
Automobiles
A.
Cosmetics
B.
Sports equipment
C.
Food and beverage
This is the correct answer.D.
Technical equipment
E.
Automobiles
C.
Food and beverage
Food and beverage
When creating a global marketing plan, ________ reflects the extent to which the strategy must be adapted to culture-specific needs of the market.
A.
the uncertainty avoidance index
B.
accessibility
C.
perception of newness
D.
environmental sensitivity
This is the correct answer.E.
political compatibility
A.
the uncertainty avoidance index
B.
accessibility
C.
perception of newness
D.
environmental sensitivity
This is the correct answer.E.
political compatibility
D.
environmental sensitivity
environmental sensitivity
The fastest growth in the bottled-water industry is occurring in ________.
A.
Middle East
B.
India
This is the correct answer.C.
Europe
D.
Africa
E.
the United States
A.
Middle East
B.
India
This is the correct answer.C.
Europe
D.
Africa
E.
the United States
B.
India
India
A company with environmentally insensitive products requires ________.
A.
less time determining the unique conditions of local markets
This is the correct answer.B.
more attention to country-specific economic conditions
C.
more time considering the wants and needs of the local markets
D.
more attention to the technological environment
E.
more attention to country-specific cultural environment conditions
A.
less time determining the unique conditions of local markets
This is the correct answer.B.
more attention to country-specific economic conditions
C.
more time considering the wants and needs of the local markets
D.
more attention to the technological environment
E.
more attention to country-specific cultural environment conditions
A.
less time determining the unique conditions of local markets
less time determining the unique conditions of local markets
Quiz 5
Quiz 5
Which of the following explains why the World Trade Organization (WTO) might be seen as a threat to individual national sovereignty?
A.
The WTO is not concerned with the economic development of individual countries.
B.
The WTO encourages more control by individual member governments over trade-related issues.
C.
The WTO makes all decisions by consensus of its members.
D.
Membership in the WTO requires adopting laws and policies created “outside” the individual nation.
E.
The WTO is known for creating protectionist policies.
A.
The WTO is not concerned with the economic development of individual countries.
B.
The WTO encourages more control by individual member governments over trade-related issues.
C.
The WTO makes all decisions by consensus of its members.
D.
Membership in the WTO requires adopting laws and policies created “outside” the individual nation.
E.
The WTO is known for creating protectionist policies.
D.
Membership in the WTO requires adopting laws and policies created “outside” the individual nation.
Membership in the WTO requires adopting laws and policies created “outside” the individual nation.
Which of the following is the most common category of political risk?
A.
Bureaucracy
B.
Government confiscation
C.
Literacy rate
D.
Corruption
E.
Political turmoil
A.
Bureaucracy
B.
Government confiscation
C.
Literacy rate
D.
Corruption
E.
Political turmoil
D.
Corruption
Corruption
A country might be willing to cede some of its sovereignty for ________.
A.
increased national income from increased world trade
B.
more voting power at the World Trade Organization
C.
increased government mandates
D.
protectionist policies
E.
improved political culture
A.
increased national income from increased world trade
B.
more voting power at the World Trade Organization
C.
increased government mandates
D.
protectionist policies
E.
improved political culture
A.
increased national income from increased world trade
increased national income from increased world trade
Government’s limitation on economic activities of foreign firms involving repatriation of profits, quotas for hiring local nationals, and price controls is called ________.
A.
planned nationalization
B.
nationalization
C.
confiscation
D.
expropriation
E.
creeping expropriation
A.
planned nationalization
B.
nationalization
C.
confiscation
D.
expropriation
E.
creeping expropriation
E.
creeping expropriation
creeping expropriation
International law prohibits which of the following seizures of assets?
A.
Creeping expropriation
B.
Planned nationalization
C.
Expropriation
D.
Confiscation
E.
Nationalization
A.
Creeping expropriation
B.
Planned nationalization
C.
Expropriation
D.
Confiscation
E.
Nationalization
D.
Confiscation
Confiscation
Which of the following defines the scope of International Law?
A.
International Law pertains to property, trade, and immigration.
B.
International Law is limited to a set of treaties designed to prevent war.
C.
International Law applies to individual nations but not to trade groups.
D.
International Law applies to all countries of the world.
E.
International Law does not function to uphold order.
A.
International Law pertains to property, trade, and immigration.
B.
International Law is limited to a set of treaties designed to prevent war.
C.
International Law applies to individual nations but not to trade groups.
D.
International Law applies to all countries of the world.
E.
International Law does not function to uphold order.
A.
International Law pertains to property, trade, and immigration.
International Law pertains to property, trade, and immigration.
Today, disputes arising between nations might be taken before the ________.
A.
The United Nations Security Council
B.
International Court of Justice (ICJ)
C.
The International Court of Uniform Commercial Code
D.
Permanent Court of International Justice
E.
International Law Commission
A.
The United Nations Security Council
B.
International Court of Justice (ICJ)
C.
The International Court of Uniform Commercial Code
D.
Permanent Court of International Justice
E.
International Law Commission
B.
International Court of Justice (ICJ)
International Court of Justice (ICJ)
________ is a body of law that applies to disputes arising from commercial transactions between companies of different nations.
A.
Public International Law
B.
The Uniform Commercial Code (UCC)
C.
International Law
D.
Private International Law
E.
Stare decisis
A.
Public International Law
B.
The Uniform Commercial Code (UCC)
C.
International Law
D.
Private International Law
E.
Stare decisis
D.
Private International Law
Private International Law
Today, the majority of countries have legal systems based on ________.
A.
Common Law traditions
B.
Civil Law traditions
C.
English Common Law traditions
D.
Islamic Law traditions
E.
Code Law traditions
A.
Common Law traditions
B.
Civil Law traditions
C.
English Common Law traditions
D.
Islamic Law traditions
E.
Code Law traditions
B.
Civil Law traditions
Civil Law traditions
A Civil Law system ________.
A.
is based on precedent
B.
includes the U.S. Uniform Commercial Code
C.
is based on a comprehensive set of codes
D.
includes a fundamental principle of stare decisis
E.
is the basis for the American legal system
A.
is based on precedent
B.
includes the U.S. Uniform Commercial Code
C.
is based on a comprehensive set of codes
D.
includes a fundamental principle of stare decisis
E.
is the basis for the American legal system
C.
is based on a comprehensive set of codes
is based on a comprehensive set of codes
A ___________________ establishes ownership of a written, recorded, performed, or filmed creative work.
A.
trademark squatter
B.
trademark
C.
brand mark
D.
copyright
E.
patent
A.
trademark squatter
B.
trademark
C.
brand mark
D.
copyright
E.
patent
D.
copyright
copyright
In the United States where patents are registered with the Federal Patent Office, the patent holder retains rights for ________.
A.
the life of the patent even if the product is not produced or sold
B.
fifty years
C.
ten years
D.
the life of the patent if the product is produced and sold within one year
E.
one year with option for annual renewal
A.
the life of the patent even if the product is not produced or sold
B.
fifty years
C.
ten years
D.
the life of the patent if the product is produced and sold within one year
E.
one year with option for annual renewal
A.
the life of the patent even if the product is not produced or sold
the life of the patent even if the product is not produced or sold
Which of the following business issues pertains to a court’s authority to rule on issues outside of the nation’s borders?
A.
Jurisdiction
B.
Antitrust
C.
Jurisprudence
D.
Acquisition
E.
Counterfeiting
A.
Jurisdiction
B.
Antitrust
C.
Jurisprudence
D.
Acquisition
E.
Counterfeiting
A.
Jurisdiction
Jurisdiction
Which of the following specifically uses a product name that differs slightly from a well-known brand so that consumers will mistake it for the genuine brand item?
A.
Counterfeiting
B.
Associative counterfeiting
C.
Piracy
D.
Copyright
E.
Brand name imitation
A.
Counterfeiting
B.
Associative counterfeiting
C.
Piracy
D.
Copyright
E.
Brand name imitation
B.
Associative counterfeiting
Associative counterfeiting
Which of the following is an organization whose specific mission is to promote and protect intellectual property throughout the world?
A.
The World Trade Organization (WTO)
B.
The European Patent Office
C.
The Madrid Protocol
D.
World Intellectual Property Organization (WIPO)
E.
The Community Patent Convention
A.
The World Trade Organization (WTO)
B.
The European Patent Office
C.
The Madrid Protocol
D.
World Intellectual Property Organization (WIPO)
E.
The Community Patent Convention
D.
World Intellectual Property Organization (WIPO)
World Intellectual Property Organization (WIPO)
_______ is a corrupt business practice offering or demanding cash (or other consideration) when negotiating a business transaction.
A.
Piracy
B.
Expropriation
C.
Confiscation
D.
Bribery
E.
Counterfeiting
A.
Piracy
B.
Expropriation
C.
Confiscation
D.
Bribery
E.
Counterfeiting
D.
Bribery
Bribery
Which of the following is the goal of conflict resolution?
A.
Litigation
B.
Arbitration
C.
Conciliation
D.
Negotiation
E.
Harmonization
A.
Litigation
B.
Arbitration
C.
Conciliation
D.
Negotiation
E.
Harmonization
E.
Harmonization
Harmonization
Which of the following best describes the contributions made by the ICCA and UNCITRAL to the developing countries?
A.
Increased litigation
B.
Removed standardization of rules
C.
Changing attitudes resulting in increased use of arbitration
D.
Require disputes to be resolved in national courts under national law
E.
Creating favoritism towards multi-national corporations
A.
Increased litigation
B.
Removed standardization of rules
C.
Changing attitudes resulting in increased use of arbitration
D.
Require disputes to be resolved in national courts under national law
E.
Creating favoritism towards multi-national corporations
C.
Changing attitudes resulting in increased use of arbitration
Changing attitudes resulting in increased use of arbitration
Which of the following has become a significant force in the area of arbitration, especially in developing countries?
A.
The International Chamber of Commerce (ICC)
B.
The World Arbitration Institute
C.
The United Nations
D.
The International Council for Commercial Arbitration (ICCA)
E.
The Advisory, Conciliation, and Arbitration Service (ACAS)
A.
The International Chamber of Commerce (ICC)
B.
The World Arbitration Institute
C.
The United Nations
D.
The International Council for Commercial Arbitration (ICCA)
E.
The Advisory, Conciliation, and Arbitration Service (ACAS)
D.
The International Council for Commercial Arbitration (ICCA)
The International Council for Commercial Arbitration (ICCA)
In Europe, which of the following refers to the variety of government and non-government agencies that establish guidelines for conducting business?
A.
World Trade Organization
B.
Advisory, Conciliation, and Arbitration Service (ACAS)
C.
International Chamber of Commerce
D.
the regulatory environment
E.
World Arbitration Institute
A.
World Trade Organization
B.
Advisory, Conciliation, and Arbitration Service (ACAS)
C.
International Chamber of Commerce
D.
the regulatory environment
E.
World Arbitration Institute
D.
the regulatory environment
the regulatory environment
Which of the following bodies of the European Union would be most involved in the regulatory environment of Europe?
A.
The European Council
B.
The European Community
C.
The European Parliament
D.
The European Commission
E.
Council of Ministers
A.
The European Council
B.
The European Community
C.
The European Parliament
D.
The European Commission
E.
Council of Ministers
D.
The European Commission
The European Commission
The ________ makes the final decision on all EU regulatory laws.
A.
European Community
B.
Council of Ministers
C.
EU Commission
D.
European Court of Justice
E.
European Parliament
A.
European Community
B.
Council of Ministers
C.
EU Commission
D.
European Court of Justice
E.
European Parliament
B.
Council of Ministers
Council of Ministers
The regulatory environment of the European Union is a(n) ________ dimension.
A.
technological
B.
economic
C.
competitive
D.
legal
E.
cultural
A.
technological
B.
economic
C.
competitive
D.
legal
E.
cultural
D.
legal
legal
________ is the highest legal authority in the EU.
A.
The European Commission
B.
The European Parliament
C.
The European Court of Justice
D.
The European Community
E.
The Council of Ministers
A.
The European Commission
B.
The European Parliament
C.
The European Court of Justice
D.
The European Community
E.
The Council of Ministers
C.
The European Court of Justice
The European Court of Justice
The ________ established a general policy referred to as “Free Flow of Goods, People, Capital and Technology.”
A.
Treaty of Rome
B.
Transparency International
C.
International Court of Justice
D.
United Nations
E.
World Trade Organization
A.
Treaty of Rome
B.
Transparency International
C.
International Court of Justice
D.
United Nations
E.
World Trade Organization
A.
Treaty of Rome
Treaty of Rome
Video Questions
Video Questions
Global challengers in emerging markets excel at utilizing all of the following, except ________.
A.
natural resources abundant in local areas
B.
low-cost labor
C.
global distribution channels
D.
geographic benefits such as growing conditions for crops
E.
benefits of their high-income advanced economy
A.
natural resources abundant in local areas
B.
low-cost labor
C.
global distribution channels
D.
geographic benefits such as growing conditions for crops
E.
benefits of their high-income advanced economy
E.
benefits of their high-income advanced economy
Global challengers located in emerging markets are not necessarily economically stable or have high-income levels. Emerging markets, however, have local advantages such as low cost of labor, local natural resources, climates conducive for growing certain crops, and even enhanced channels of distribution such as Brazil’s Sadia.
benefits of their high-income advanced economy
Global challengers located in emerging markets are not necessarily economically stable or have high-income levels. Emerging markets, however, have local advantages such as low cost of labor, local natural resources, climates conducive for growing certain crops, and even enhanced channels of distribution such as Brazil’s Sadia.
The rapid economic growth taking place in the emerging markets around the world is an example of which of these driving forces that affect market globalization and integration?
A.
Leverage
B.
Converging market needs and wants
C.
Multilateral trade agreements
D.
Quality
E.
World economic trends
A.
Leverage
B.
Converging market needs and wants
C.
Multilateral trade agreements
D.
Quality
E.
World economic trends
E.
World economic trends
Failing trade barriers and easier ways of conducting international business are contributing to a gradual integration of most national economies into a unified global market. This allows managers to view the world as one big marketplace. Other contributing factors include cross-border trade and investment.
World economic trends
Failing trade barriers and easier ways of conducting international business are contributing to a gradual integration of most national economies into a unified global market. This allows managers to view the world as one big marketplace. Other contributing factors include cross-border trade and investment.
Managers are increasingly viewing the world as “one big marketplace” due to globalization and the interconnectedness of national economies. Of the possible management orientations, which would be counterintuitive to this mentality and result in an inability to see opportunities in other countries?
A.
Regiocentric orientation
B.
Geocentric orientation
C.
Polycentric orientation
D.
Ethnocentric orientation
E.
Multicentric orientation
A.
Regiocentric orientation
B.
Geocentric orientation
C.
Polycentric orientation
D.
Ethnocentric orientation
E.
Multicentric orientation
D.
Ethnocentric orientation
Those who have an ethnocentric orientation think that their home country is superior to other countries. This perspective of a company, or its management, often results in the lost opportunities to expand to a global level. Managers who see the world as “one big marketplace” have a geocentric orientation.
Ethnocentric orientation
Those who have an ethnocentric orientation think that their home country is superior to other countries. This perspective of a company, or its management, often results in the lost opportunities to expand to a global level. Managers who see the world as “one big marketplace” have a geocentric orientation.
Worldwide preferences for certain consumer products, like food, are also contributing to a globalized marketplace. The global marketing strategy of the fast-food giant, McDonald’s, includes variations on menu items in differing countries. This strategy is an example of ________.
A.
product placement
B.
product adaptation
C.
price adaptation
D.
product standardization
E.
target market strategy
A.
product placement
B.
product adaptation
C.
price adaptation
D.
product standardization
E.
target market strategy
B.
product adaptation
McDonald’s has a very effective global marketing strategy to adapt its products based on local preferences. For example, the U.S. Big Mac’s variation in Italy is called an “Adagio.” This product adaptation is an element of its marketing mix and is not reflective of a target market strategy because that is a single-country marketing strategy.
product adaptation
McDonald’s has a very effective global marketing strategy to adapt its products based on local preferences. For example, the U.S. Big Mac’s variation in Italy is called an “Adagio.” This product adaptation is an element of its marketing mix and is not reflective of a target market strategy because that is a single-country marketing strategy.
Which of the following is an example of a competitive advantage that a firm would have in a global industry?
A.
Access to inexpensive supplier products
B.
Research and development
C.
Technological advances in transportation
D.
A company website
E.
A core competency with added customer value
A.
Access to inexpensive supplier products
B.
Research and development
C.
Technological advances in transportation
D.
A company website
E.
A core competency with added customer value
E.
A core competency with added customer value
A core competency, which competitors lack and cannot replicate efficiently, is a great edge to a global competitive advantage. All other answer choices, such as the abilities to create a website or participate in research and development are readily accessible to highly globalized businesses with access to technology and resources. A well-defined strategic focus and the organizational structure and support to achieve that goal offers a strategic competency, and the ability to provide customers with added value, which competitors do not.
OK
A core competency with added customer value
A core competency, which competitors lack and cannot replicate efficiently, is a great edge to a global competitive advantage. All other answer choices, such as the abilities to create a website or participate in research and development are readily accessible to highly globalized businesses with access to technology and resources. A well-defined strategic focus and the organizational structure and support to achieve that goal offers a strategic competency, and the ability to provide customers with added value, which competitors do not.
OK
Based upon India’s rapid economic development, which of the stages of market development does the country occupy?
A.
Upper-middle-income country
B.
Low-income country
C.
Low-middle-income country
D.
High-income country
E.
None of the above
A.
Upper-middle-income country
B.
Low-income country
C.
Low-middle-income country
D.
High-income country
E.
None of the above
C.
Low-middle-income country
India has made great progress since the 1990s in terms of the rapidly expanding consumer market. This expansion has been reflected by the increased GNI per capita as well as the improved market opportunities.
Low-middle-income country
India has made great progress since the 1990s in terms of the rapidly expanding consumer market. This expansion has been reflected by the increased GNI per capita as well as the improved market opportunities.
The video describes India as a “free market.” Based upon the characteristics of the types of economic systems in differing regions of the world today, India’s system would most likely be classified as ________.
A.
market socialism
B.
market capitalism
C.
centrally planned socialism
D.
centrally planned capitalism
E.
both capitalist and socialist
A.
market socialism
B.
market capitalism
C.
centrally planned socialism
D.
centrally planned capitalism
E.
both capitalist and socialist
E.
both capitalist and socialist
India had a centrally planned socialist economy for many decades, but the recent economic reform has resulted in a combination of both capitalist and socialist characteristics.
both capitalist and socialist
India had a centrally planned socialist economy for many decades, but the recent economic reform has resulted in a combination of both capitalist and socialist characteristics.
India’s rapidly expanding service sector of educated workers represents more than half of the country’s annual GDP, despite that less than one-third of the country is employed. This trend is indicative of the world economic trend that ______.
A.
manufacturing is increasing only in developing countries
B.
currency trading has decreased
C.
communism is on the rise
D.
production has been decoupled from employment
E.
manufacturing is declining
A.
manufacturing is increasing only in developing countries
B.
currency trading has decreased
C.
communism is on the rise
D.
production has been decoupled from employment
E.
manufacturing is declining
D.
production has been decoupled from employment
Manufacturing has not actually declined, but employment in manufacturing has declined and the world economic trend has shown increased production despite that decrease in manufacturing jobs, especially as a result of increased service sector jobs and technology.
production has been decoupled from employment
Manufacturing has not actually declined, but employment in manufacturing has declined and the world economic trend has shown increased production despite that decrease in manufacturing jobs, especially as a result of increased service sector jobs and technology.
India is not one of the world’s leading exporters. Which of the following has been detrimental to its ability to capitalize on global economic trade opportunities?
A.
Outsourcing
B.
Natural resources
C.
Infrastructure
D.
Information technology
E.
Manufacturing facilities
A.
Outsourcing
B.
Natural resources
C.
Infrastructure
D.
Information technology
E.
Manufacturing facilities
C.
Infrastructure
India’s infrastructure challenges make it tough for India to become a leader in exporting or importing goods, which is why the country focuses on services, technology, and outsourcing market needs. India, as an emerging market, has advantages such as information technology and outsourcing capabilities, excellent manufacturing facilities, and access to precious limited natural resources.
Infrastructure
India’s infrastructure challenges make it tough for India to become a leader in exporting or importing goods, which is why the country focuses on services, technology, and outsourcing market needs. India, as an emerging market, has advantages such as information technology and outsourcing capabilities, excellent manufacturing facilities, and access to precious limited natural resources.
Mexico is all of the following except ________.
A.
a Newly Industrializing Economy (NIE)
B.
high-income country
C.
a member of the expanded Triad
D.
a participant of the North American Free Trade Agreement
E.
home to an emerging market economy
A.
a Newly Industrializing Economy (NIE)
B.
high-income country
C.
a member of the expanded Triad
D.
a participant of the North American Free Trade Agreement
E.
home to an emerging market economy
B.
high-income country
Despite Mexico’s high percentage of economic growth, it has not yet attained a GNI per capita to qualify as a high-income country. The video mentions that Mexico is comprised of approximately 105 million middle-class people, out of the total 111 million people in the country, but Mexico still needs to work on its educational system as mentioned in the video. At best, Mexico could be described as an upper-middle-income country as a whole but its NIE status and rapid economic growth are also suggestive that it’s in a lower-middle-income tier as well.
OK
high-income country
Despite Mexico’s high percentage of economic growth, it has not yet attained a GNI per capita to qualify as a high-income country. The video mentions that Mexico is comprised of approximately 105 million middle-class people, out of the total 111 million people in the country, but Mexico still needs to work on its educational system as mentioned in the video. At best, Mexico could be described as an upper-middle-income country as a whole but its NIE status and rapid economic growth are also suggestive that it’s in a lower-middle-income tier as well.
OK
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