Question 1

Because different societies often attach alternate meanings to things, these representations of ideas are referred to as

Accepted Answer

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

Question 2

Describe the World Trade Organization (WTO) and its purpose.

Accepted Answer

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

Question 3

Values are

Accepted Answer

A)   personally or socially held core beliefs that are consistent within a given culture.
B)   the beliefs that dictate a person's behavior, which are often derived from a religious code of conduct.
C)   personally or socially preferable modes of conduct or states of existence that tend to persist over time.
D)   the innate sense of what a person considers to be right or wrong in terms of his or her own conduct when dealing with others.
E)   those personality traits regarding honesty and integrity that have been passed down from generation to generation.F) C) and E)
G) B) and D)

Question 4

In international commerce, a quota refers to

Accepted Answer

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

Question 5

Even though Exxon adapts its gasoline blends for different countries based on climate, the promotion message is unchanged: "Put a Tiger in Your Tank." This type of global promotional strategy is known as

Accepted Answer

A)   product extension.
B)   product customization.
C)   product adaptation.
D)   dual adaptation.
E)   dual integration.F) All of the above
G) A) and D)

Question 6

The U.S. motorcycle manufacturer Harley-Davidson uses intermediaries to sell its motorcycles in numerous nations outside the United States. Harley-Davidson uses

Accepted Answer

A)   direct exporting.
B)   licensing.
C)   contract manufacturing.
D)   indirect exporting.
E)   foreign assembly.F) None of the above
G) B) and C)

Question 7

To eliminate the need to continually monitor currency exchange rates, ________ of the countries in the European Union (EU)  have adopted a common currency called the euro.

Accepted Answer

A)   11
B)   16
C)   20
D)   28
E)   32F) C) and D)
G) A) and C)

Question 8

Cultural symbols are

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 existing in a unique form within a nation.
D)   things that represent ideas and concepts.
E)   words that represent pictures or designs.F) A) and D)
G) A) and C)

Question 9

Since 1963, the guiding principle of Mary Kay, Inc., has been based on

Accepted Answer

A)   the Consumer Bill of Rights.
B)   the Golden Rule.
C)   caveat emptor.
D)   the American Marketing Association Statement of Ethics.
E)   maximizing profits so long as the firm stays within the rules.F) B) and C)
G) A) and B)

Question 10

Cross-cultural analysis refers to the study of

Accepted Answer

A)   the subgroups within the larger, or national, culture with unique values, ideas, and attitudes.
B)   the set of values, ideas, and attitudes that are learned and shared among the consumers of a country.
C)   the similarities and differences among consumers in two or more nations or societies.
D)   the buying behaviors within a given nation to identify similarities and differences among individuals.
E)   the buying behaviors within a given nation that link a person's actions to the cultural group with which he or she identifies most.F) A) and E)
G) A) and B)

Question 11

Tiffany & Company knows that Japanese are superstitious about the number four. As a result, Tiffany sells its fine glassware and china in sets of five, not four, in Japan. Tiffany uses its knowledge of ________ to avoid connecting its products with the number four.

Accepted Answer

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

Question 12

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 products 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 products or services with another nation unless certain financial or ideological requirements have been satisfied.F) C) and E)
G) A) and E)

Question 13

The ________ imposed on imported bananas by European Union countries cost consumers $2 billion a year in higher prices.

Accepted Answer

A)   boycotts
B)   quotas
C)   sanctions
D)   subsidies
E)   tariffsF) B) and E)
G) B) and D)

Question 14

A country's income distribution is important because it gives a more reliable picture of a country's ________ than just per capita income alone.

Accepted Answer

A)   consumer tastes
B)   taxable income
C)   purchasing power
D)   discretionary income
E)   cost of livingF) A) and B)
G) A) and C)

Question 15

The Malaysian government exchanged 20,000 tons of rice for an equivalent amount of Philippine corn. This transaction is an example of a

Accepted Answer

A)   countertrade.
B)   competitive advantage.
C)   balance of trade.
D)   quota.
E)   trade feedback.F) D) and E)
G) A) and B)

Question 16

A multidomestic marketing strategy refers to

Accepted Answer

A)   the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
B)   the strategy used by firms that use the same product variations, brand names, and advertising programs for every country in which they do business.
C)   the strategy used by firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.
D)   the strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm's products.
E)   the strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation.F) B) and D)
G) B) and C)

Question 17

There are ________ World Trade Organization countries, including the United States, which account for more than 98 percent of world trade.

Accepted Answer

A)   31
B)   52
C)   97
D)   133
E)   164F) A) and D)
G) A) and C)

Question 18

Which of the following is an advantage inherent in the use of licensing as a global market entry strategy?

Accepted Answer

A)   The licensor retains control of its product.
B)   The licensor is protected from creating a potential competitor.
C)   It provides an exemption from domestic trade regulations.
D)   There is an increase in potential profit compared with direct investment.
E)   The licensee gains information that allows it to start with a competitive advantage.F) None of the above
G) A) and D)

Question 19

The practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors is referred to as

Accepted Answer

A)   locution.
B)   heuristics.
C)   transliteration.
D)   back translation.
E)   cross-cultural paraphrasing.F) All of the above
G) C) and D)

Question 20

The ________ arrangement between Ericsson, a Swedish telecommunications firm, and CGCT, a French switch maker, enabled them together to beat out AT&T for a $100 million French contract.

Accepted Answer

A)   franchising
B)   licensing
C)   joint venture
D)   direct investment
E)   exportingF) D) and E)
G) A) and B)

Exam 7: Understanding and Reaching Global Consumers and Markets

A multidomestic marketing strategy refers to

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The ________ imposed on imported bananas by European Union countries cost consumers $2 billion a year in higher prices.

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Tariffs refer to

Correct AnswerverifiedShow Answer

To eliminate the need to continually monitor currency exchange rates, ________ of the countries in the European Union (EU) have adopted a common currency called the euro.

Correct AnswerverifiedShow Answer

Values are

Correct AnswerverifiedShow Answer

Describe the World Trade Organization (WTO) and its purpose.

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

A country's income distribution is important because it gives a more reliable picture of a country's ________ than just per capita income alone.

Correct AnswerverifiedShow Answer

Which of the following is an advantage inherent in the use of licensing as a global market entry strategy?

Correct AnswerverifiedShow Answer

Cultural symbols are

Correct AnswerverifiedShow Answer

There are ________ World Trade Organization countries, including the United States, which account for more than 98 percent of world trade.

Correct AnswerverifiedShow Answer

In international commerce, a quota refers to

Correct AnswerverifiedShow Answer

Cross-cultural analysis refers to the study of

Correct AnswerverifiedShow Answer

Tiffany & Company knows that Japanese are superstitious about the number four. As a result, Tiffany sells its fine glassware and china in sets of five, not four, in Japan. Tiffany uses its knowledge of ________ to avoid connecting its products with the number four.

Correct AnswerverifiedShow Answer

The ________ arrangement between Ericsson, a Swedish telecommunications firm, and CGCT, a French switch maker, enabled them together to beat out AT&T for a $100 million French contract.

Correct AnswerverifiedShow Answer

The U.S. motorcycle manufacturer Harley-Davidson uses intermediaries to sell its motorcycles in numerous nations outside the United States. Harley-Davidson uses

Correct AnswerverifiedShow Answer

The practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors is referred to as

Correct AnswerverifiedShow Answer

Because different societies often attach alternate meanings to things, these representations of ideas are referred to as

Correct AnswerverifiedShow Answer

Since 1963, the guiding principle of Mary Kay, Inc., has been based on

Correct AnswerverifiedShow Answer

Even though Exxon adapts its gasoline blends for different countries based on climate, the promotion message is unchanged: "Put a Tiger in Your Tank." This type of global promotional strategy is known as

Correct AnswerverifiedShow Answer

The Malaysian government exchanged 20,000 tons of rice for an equivalent amount of Philippine corn. This transaction is an example of a

Correct AnswerverifiedShow Answer

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