Chapter 11 & 12

Question 1

What is the title of Chapter 11?

Answer 1

The Asia Pacific Region

Question 2

AFTA

Answer 2

The Association of Southeast Asian Nations Free Trade Area; a multinational trade group that evolved from ASEAN

Question 3

APEC

Answer 3

The Asia-Pacific Economic Cooperation; a forum that meets annually to discuss regional economic development

Question 4

ASEAN

Answer 4

Association of Southeast Asian Nations; a multinational regional trade group including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam

Question 5

ASEAN+3

Answer 5

A forum for ministers of the Association of Southeast Asian Nations plus ministers from China, Japan, and South Korea

Question 6

Bottom-of-the-pyramid markets (BOPM)

Answer 6

These consist of the four billion people around around the world with annual incomes of $1,200 or less per capita. They are not necessarily defined by national borders but are rather pockets of poverty particularly concentrated in South Asia and sub-Saharan Africa.

Question 7

Four Asian Tigers

Answer 7

Refers to Hong Kong, Taiwan, Singapore, and South Korea as they fast achieved affluence in the 1980s and 1990s

Question 8

Purchase Price Parity (PPP)

Answer 8

GDP at PPP corrects GDP for differentials across countries in costs of consumer purchases. The PPP correction allows for direct comparisons of the overall well-being of consumers across countries.

Question 9

The Greater China

Answer 9

Refers to both the People’s Republic of China (PRC or Mainland China) and the Republic of China (Taiwan).

Question 10

What is the title of Chapter 12?

Answer 10

Global Marketing Management: Planning and Organization

Question 11

Corporate planning

Answer 11

The formulation of the long-term, generalized goals for an enterprise as a whole

Question 12

Direct exporting

Answer 12

The type of exporting in which a company sells to a customer in another country

Question 13

Franchising

Answer 13

A form of licensing in which the company (the franchiser) provides a standard package of branded products, systems, and management services to the franchisee, which in foreign markets has market knowledge. Franchising permits flexibility in dealing with the local market conditions while providing the parent firm with a degree of control.

Question 14

Indirect exporting

Answer 14

A type of exporting in which a company sells to a buyer (importer or distributor) in the home country; the buyer in turn exports the product.

Question 15

Joint venture

Answer 15

A partnership of two or more participating companies that join forces to create a separate legal entity

Question 16

Licensing

Answer 16

A contractual means by which a company grants patent rights, trademark rights, and the rights to use technology to another company, often in a foreign market; a favored strategy of small and medium-sized companies seeking a foothold in foreign markets without making large capital outlays.

Question 17

Strategic International Alliance (SIA)

Answer 17

A business relationship established by two or more companies to cooperate out of mutual need and to share risk in achieving a common objective

Question 18

Strategic Planning

Answer 18

A type of planning conducted at the highest levels of management, dealing with products, capital, and research, and the long and short-term goals of a company.

Question 19

Tactical Planning

Answer 19

A type of planning that pertains to specific actions and to the allocation of resources used to implement strategic planning goals in specific markets; also known as market planning; is generally conducted at the local level