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Exam 8: Reaching Global Markets

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Question 21

True/False

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Cultural relativism is the unconscious reference to one's own cultural values, experiences, and knowledge when traveling in other countries.

A) True
B) False

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Question 22

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Tommy Baker is an account representative from the United States for an automotive parts supplier and is meeting with a client team in Japan. This is Tommy's first trip to Japan, and unfortunately, he wasn't able to review any information about "doing business in Japan" before he left the States. His first meeting with representatives from the prospective client's firm is a dinner, and he is immediately surprised at the formality of the event. All of his counterparts are dressed very formally, and no one is addressing him by his first name but is referring to him as Mr. Baker. In addition, the members of the client team seem to be waiting on their supervisor to make the first move, and Tommy is beginning to realize that age and seniority are very important to the team members. Tommy is growing a little concerned that he may not be successful in business since he feels like a fish out of water. Which environmental force has the sales representative encountered?

A) Sociocultural
B) Economic
C) Technological
D) Competitive

E) All of the above
F) A) and B)

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Question 23

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A(n) ____ is an organization that links buyers and sellers in different countries but is not involved in manufacturing.

From a cultural perspective, countries that are members of the European Union tend to act as a single entity.

If a newly formed country wanted to increase its international trade and reduce worldwide tariffs, it would most likely try to become a part of

Henderson Synthetics is a producer of chemical products aimed at increasing agricultural yield per acre. Henderson Synthetics' management believes that several of the firm's products could have sizable markets in other countries; however, it is costly to obtain market research to confirm this. If Henderson Synthetics wanted to temporarily "try out" these international markets with a minimal level of commitment and cost, it should use

When Amway entered China, it opened up retail locations for the first time. Amway is a direct selling firm. This means that it sells almost exclusively through independent consultants. However, in China restrictions on direct selling required significant modifications in how consumers obtain these products. On the other hand, Amway has been able to sell many of its signature products to the Chinese market with little to no modification. In China, Amway was forced to ______________ the distribution variable and ___________ its product variable.

ASEAN faces obstacles in becoming a unified trade bloc because of conflicts among members.

Dell Electronics is very interested in taking advantage of business opportunities in India but does not have access to India's market. Dell has the patent on a low-cost, quality computer system that could assist small businesses in India. Sony Computer, Dell's competitor, is experienced in India's small business market but does not have a computer comparable to Dell's. If Dell and Sony work together to utilize these strengths to seize this opportunity in India, what type of business structure would they likely use?

If The Limited Company relies on hiring a foreign textile manufacturer to produce a designated amount of clothing for its Express, Limited, and other stores, it is using

In what ways can a nation restrict the flow of imported goods?

When the makers of Monster, an energy drink, decided to go international with their marketing effort, a global approach was adopted. With which of the following factors did Monster most likely experience difficulty as the firm applied a global strategy for marketing?

Opportunities for international marketers are limited to industrial nations with the highest incomes.

General Motors is a multinational company. In most countries in which it operates, General Motors opens facilities that give it total control over manufacturing and other processes. However, in China General Motors must partner with domestic companies due to legal and regulatory constraints. In these cases, GM owns part of the company, while the domestic firm owns the other part. In most countries, GM engages in ____________, but in China it engages in _______________.

____________________ involves developing and performing marketing activities across national boundaries.

A trading company provides a link between buyers and sellers in different countries.

The trade agreement that links Mexico, Canada, and United States into one economic market is called which one of the following?

In Singapore, the price of imported Scotch is $30 per glass as opposed to Scotch from Singapore, which is $3. Which of the following do you think accounts for the difference in price?

Franchising is an arrangement whereby a franchisee grants a franchiser the right to market its product, using its name, logo, methods of operation, advertising, products, and other elements of the franchising company's business, in return for a financial commitment and an agreement to conduct business in accordance with the franchisee's standard of operations.

The North American Free Trade Agreement (NAFTA) ___________ tariffs on goods produced in and traded between Canada, Mexico, and the United States.