Question 1

"A signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.Discuss this statement.

Accepted Answer

This statement indicates that the U.S.Tr...

Question 2

Japanese car safety rules effectively require all automobile replacement parts to be Japanese and the country has about 11,000 other rules that specify how other goods are to be made and marketed.These rules often function as __________.

Accepted Answer

A)  economic infrastructure
B)  trade barriers
C)  universal codes
D)  binding requirements
E)  "the price of doing business"F) A) and D)
G) A) and B)

Question 3

What is the term for a firm selling a product in a foreign country below its domestic price or below its actual cost?

Accepted Answer

A)  dumping
B)  surplus marketing
C)  second-market pricing
D)  channeling
E)  entrepreneurial pricingF) B) and D)
G) B) and C)

Question 4

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

Accepted Answer

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 downwards over the past 30 years.
C)  The U.S.has maintained a steady percentage share of world imports.
D)  The United States' relative role as an exporter has decreased in the area of aerospace during the past five years.
E)  The relative position of the U.S.as a supplier to the world has increased because of an absolute growth in exports.F) A) and D)
G) A) and E)

Question 5

If you wanted to set up a business importing amber jewelry from Latvia to the United States,you would have to plan on paying the U.S.Customs Service roughly 20 percent of the value of the product as a(n) __________.

Accepted Answer

A)  bribe
B)  tariff
C)  subsidy
D)  excise tax
E)  quotaF) A) and C)
G) C) and D)

Question 6

Those in favor of protectionism argue that it

Accepted Answer

A)  helps reduce tariffs and quotas.
B)  encourages the development of domestic industries.
C)  encourages economic reliance on foreign countries.
D)  creates opportunities for the outsourcing of domestic jobs.
E)  creates a more favorable environment for a global economy.F) B) and D)
G) C) and D)

Question 7

S.citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because

Accepted Answer

A)  both countries have suffered major financial crises due a severe trade imbalance.
B)  both countries have imposed tariffs on imported goods to protect their domestic markets.
C)  both countries have imposed limits on the quantity of these goods that can leave their respective domestic markets.
D)  both products are considered essentials and as a result are more heavily taxed.
E)  these products were purchased at a lower price from nations that currently are under governmental sanctions.F) B) and D)
G) B) and C)

Question 8

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,be sure to define cross-cultural analysis.

Accepted Answer

Cross-cultural analysis involves the stu...

Question 9

KFC in Japan sells tempura crispy strips.In northern England,it stresses gravy and potatoes.In Thailand,it offers fresh rice.In Holland,instead of potatoes,KFC offers customers a potato and onion croquette.In France,KFC sells pastries alongside its chicken.These examples illustrate that KFC exhibits an understanding of and appreciation for the __________ of other societies.

Accepted Answer

A)  demographics
B)  symbols
C)  sensitivities
D)  customs
E)  valuesF) C) and E)
G) A) and B)

Question 10

Russia currently has a limit on pork of 400,000 metric tons annually that can be imported from any country.This restriction would be considered a

Accepted Answer

A)  tariff.
B)  trade imbalance.
C)  excise tax.
D)  quota.
E)  subsidy.F) A) and C)
G) A) and D)

Question 11

Bottom of the pyramid refers to

Accepted Answer

A)  the largest and most powerful socioeconomic group of people in the world whose combined buying power essentially dominates the world's economy.
B)  the tenth lowest firm,in terms of market share,within any given industry.
C)  the last link in the chain between the manufacturer and the ultimate consumer.
D)  the department within a firm with the least input into how the organization operates.
E)  the largest,but poorest socioeconomic group of people in the world.F) C) and D)
G) A) and E)

Question 12

Consider the Kit Kat Bar photo above.Nestlé markets its Kit Kat bar globally,including Japan.In Japan,"Kit Kat" means "I hope you win." Experienced global marketers are concerned with _________,which involves using interpreters to ensure that words used in brand names or advertisements in a foreign market do not cause problems or errors in meaning.

Accepted Answer

A)  unispeak
B)  back translation
C)  semiotics
D)  semantic symbolism
E)  linguistic exchangeF) None of the above
G) B) and E)

Question 13

Dell established its company primarily with direct telephone-and Internet-based sales.In terms of Dell's global expansion strategy,which of the following statements is most accurate?

Accepted Answer

A)  Dell sells its computers via word of mouth,which is the most powerful method for consumer electronics.
B)  Dell partners with each country's largest department stores and sells its computers in the small appliance department.
C)  Dell issues its own credit card through multinational banks,making it possible for customers who would not normally qualify for credit to do so.
D)  Dell distributes its products through individual sales associates who reach out to customers with a first-hand experience at their doorsteps.
E)  Dell maintains the exact same U.S.strategies that brought it this far because it sees no reason to "mess with success."F) B) and E)
G) D) and E)

Question 14

Describe the elements in a global channel of distribution.

Accepted Answer

Figure 7-5 outlines the channel through ...

Question 15

PepsiCo and __________ entered into a joint venture to market Frito-Lay's,Cheetos,Ruffles,and Doritos in Israel.

Accepted Answer

A)  The Strauss Group
B)  Ericsson
C)  General Mills
D)  Hebrew National
E)  CGCTF) B) and E)
G) C) and D)

Question 16

The representations of ideas and concepts to which different cultures often attach different meanings are referred to as

Accepted Answer

A)  universal symbols.
B)  cultural symbols.
C)  symbolic concepts.
D)  ideological representations.
E)  cultural representations.F) A) and B)
G) B) and E)

Question 17

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

Accepted Answer

A)  The World Trade organization was formed in 2008 in response to the global recession.
B)  The 183 member countries of the WTO account for approximately 55 percent of world trade.
C)  The WTO acts as an agent in trade negotiations between its members and the remainder of the world.
D)  The WTO uses panels of trade experts who can issue binding decisions.
E)  The WTO was formed by the United Nations.F) B) and E)
G) B) and D)

Question 18

Personally or socially preferable modes of conduct or states of existence that tend to persist over time are referred to as __________.

Accepted Answer

A)  customs
B)  ethics
C)  values
D)  culture
E)  beliefsF) All of the above
G) A) and B)

Question 19

When a nation's exports exceed its imports,it incurs a __________ in its balance of trade.

Accepted Answer

A)  countertrade
B)  trade feedback effect
C)  deficit
D)  surplus
E)  tariffF) B) and C)
G) A) and E)

Question 20

The Tahitian pearl market might never have existed were it not for Salvador Assael,the "pearl king" of the South Seas.Assael got into the pearl business at the end of World War II.Tahiti had thousands of Swiss watches but suddenly had no GIs to buy them.Assael observed that the Japanese were desperate for watches but had no cash,and also,that the Japanese still had a pearl industry.So,Assael oversaw the swapping of watches for pearls,which were then sold to the Australian and U.S.markets.This international barter is an example of

Accepted Answer

A)  a reciprocity agreement.
B)  balance of trade.
C)  cross-cultural commerce.
D)  countertrade.
E)  a trade feedback effect.F) A) and B)
G) A) and C)

Exam 7: Understanding and Reaching Global Consumers and Markets

Bottom of the pyramid refers to

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

What is the term for a firm selling a product in a foreign country below its domestic price or below its actual cost?

Correct Answer
verified

Correct Answer
verified

Personally or socially preferable modes of conduct or states of existence that tend to persist over time are referred to as __________.

Correct Answer
verified

Describe the elements in a global channel of distribution.

Correct Answer
verified
Figure 7-5 outlines the channel through ...
View Answer

When a nation's exports exceed its imports,it incurs a __________ in its balance of trade.

Correct Answer
verified

PepsiCo and __________ entered into a joint venture to market Frito-Lay's,Cheetos,Ruffles,and Doritos in Israel.

Correct Answer
verified

If you wanted to set up a business importing amber jewelry from Latvia to the United States,you would have to plan on paying the U.S.Customs Service roughly 20 percent of the value of the product as a(n) __________.

Correct Answer
verified

Correct Answer
verified

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,be sure to define cross-cultural analysis.

Correct Answer
verified
Cross-cultural analysis involves the stu...
View Answer

Japanese car safety rules effectively require all automobile replacement parts to be Japanese and the country has about 11,000 other rules that specify how other goods are to be made and marketed.These rules often function as __________.

Correct Answer
verified

Dell established its company primarily with direct telephone-and Internet-based sales.In terms of Dell's global expansion strategy,which of the following statements is most accurate?

Correct Answer
verified

The representations of ideas and concepts to which different cultures often attach different meanings are referred to as

Correct Answer
verified

Russia currently has a limit on pork of 400,000 metric tons annually that can be imported from any country.This restriction would be considered a

Correct Answer
verified

Those in favor of protectionism argue that it

Correct Answer
verified

"A signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.Discuss this statement.

Correct Answer
verified
This statement indicates that the U.S.Tr...
View Answer

S.citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because

Correct Answer
verified

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

Correct Answer
verified

Exam 7: Understanding and Reaching Global Consumers and Markets

Bottom of the pyramid refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is the term for a firm selling a product in a foreign country below its domestic price or below its actual cost?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Personally or socially preferable modes of conduct or states of existence that tend to persist over time are referred to as __________.

Correct AnswerverifiedShow Answer

Describe the elements in a global channel of distribution.

Correct AnswerverifiedFigure 7-5 outlines the channel through ...View AnswerShow Answer

When a nation's exports exceed its imports,it incurs a __________ in its balance of trade.

Correct AnswerverifiedShow Answer

PepsiCo and __________ entered into a joint venture to market Frito-Lay's,Cheetos,Ruffles,and Doritos in Israel.

Correct AnswerverifiedShow Answer

If you wanted to set up a business importing amber jewelry from Latvia to the United States,you would have to plan on paying the U.S.Customs Service roughly 20 percent of the value of the product as a(n) __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,be sure to define cross-cultural analysis.

Correct AnswerverifiedCross-cultural analysis involves the stu...View AnswerShow Answer

Japanese car safety rules effectively require all automobile replacement parts to be Japanese and the country has about 11,000 other rules that specify how other goods are to be made and marketed.These rules often function as __________.

Correct AnswerverifiedShow Answer

Dell established its company primarily with direct telephone-and Internet-based sales.In terms of Dell's global expansion strategy,which of the following statements is most accurate?

Correct AnswerverifiedShow Answer

The representations of ideas and concepts to which different cultures often attach different meanings are referred to as

Correct AnswerverifiedShow Answer

Russia currently has a limit on pork of 400,000 metric tons annually that can be imported from any country.This restriction would be considered a

Correct AnswerverifiedShow Answer

Those in favor of protectionism argue that it

Correct AnswerverifiedShow Answer

"A signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.Discuss this statement.

Correct AnswerverifiedThis statement indicates that the U.S.Tr...View AnswerShow Answer

S.citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Figure 7-5 outlines the channel through ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Cross-cultural analysis involves the stu...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
This statement indicates that the U.S.Tr...
View Answer

Correct Answer
verified

Correct Answer
verified