Chapter 6 (her pwrpoint)

Question 1

The processes by which goods, services, capital, people, information, and ideas flow across national borders is known as

Answer 1

Globalization

Question 2

Which country has the largest amount of money in terms of exports but the second largest imports?

Answer 2

China

Question 3

Which country has the largest amount of money in terms of imports but the second largest exports?

Answer 3

United States

Question 4

What are the 4 developments that influence global marketing?

Answer 4

1) Economic protectionism by countries
2) Economic integration among countries
3) Global competition for global customers
4) Networked global marketplace
5) Growing economic espionage

Question 5

Shielding industry within country from foreign competition through use of tariff or quota is known as

Answer 5

Protectionism

Question 6

The tax on goods entering country to raise prices on imports is known as

Answer 6

Tariff

Question 7

The restriction on amount of product allowed to be imported/exported is known as

Answer 7

Quota

Question 8

When countries use protectionism through tariffs this will increase
prices or limit supply in order to decrease world trade?

Answer 8

Increase prices

Question 9

When countries use protectionism through quotas this will increase
prices or limit supply in order to decrease world trade?

Answer 9

Limit supply

Question 10

When transnational groups form to promote free trade and enhance economies. This is known as

Answer 10

Economic Integration

Question 11

Which transnational group consists of 27 countries with eliminated barriers to trade

Answer 11

European Union

Question 12

slide 10

Question 13

when firms originate, produce, and market their products and services worldwide this is known as

Answer 13

Global Competition

Question 14

What are the three types of firms?

Answer 14

International
Multinational
Transnational

Question 15

Which type of firm engages and trade and marketing in different countries as an extension of the marketing strategy from its home country?

Answer 15

International Firm

Question 16

Which type of firms offers the same product and market the same way in other countries with typically very little investment outside of home borders

Answer 16

International Firm

Question 17

Which type of firm views world as consisting of unique markets, each very different from one another?

Answer 17

Multinational Firm

Question 18

What type of marketing strategy has many different product variations, broad names, and advertising programs as countries in which the firm does business?

Answer 18

Multidomestic marketing strategy

Question 19

Which type of firm views the world as one market and emphasizes cultural similarities across markets rather than differences?

Answer 19

Transnational Firm

Question 20

Which marketing strategy standardizes marketing activities when there are cultural similarities and adapting them when cultures differ

Answer 20

Global Marketing Strategy

Question 21

T/F- With a networked global marketplace, it is easier for companies to exchange products, services, information between buyer and seller ANYWHERE, ANY TIME and at LOWER COST

Answer 21

True

Question 22

The clandestine collection of
trade secrets or proprietary information about competitors is known as

Answer 22

Espinoage

Question 23

T/F- Espionage costs US firms $600+billion/year

Answer 23

True

Question 24

T/F- 23 nations routinely target US firms every year for espionage

Answer 24

True

Question 25

What act makes firm theft a federal crime?

Answer 25

Economic Espionage Act 1996

Question 26

Which country is the most corrupt in the world?

Answer 26

New Zealand as of 2020 Denmark as of 2023

Question 27

When looking at general economic environments, market sizes, population growth, and real income this assesses which part of the global markets?

Answer 27

Economic Analysis using metrics

Question 28

When looking at transportation means, channels, communication, and commerce this assesses which part of the global markets?

Answer 28

Infrastructure and technology

Question 29

When looking at power distance, uncertainty avoidance, individualism, masculinity, and time orientation this assesses which part of the global markets?

Answer 29

Sociocultural analysis

Question 30

When looking into tariffs, quotas, exchange controls, and trade agreements this assesses which part of the global markets?

Answer 30

Government Actions

Question 31

What does the economic environment entail?

Answer 31

Gross Domestic Product Gross National Income Purchasing Power Parity Human Development Index

Question 32

slide 23 graph

Question 33

T/F- When evaluating real income you must consider average per capita or household income and how income us distributed to determine purchasing power

Answer 33

True

Question 34

T/F- As proportion of middle-income households increases, the greater nation’s purchasing power tends to be

Answer 34

True

Question 35

basic facilities, services, and installations needed for a community or society to function is known as

Answer 35

Infrastructure

Question 36

What are the 4 key elements of infrastructure?

Answer 36

Transportation Distribution Channels Communications Commerce

Question 37

Which type of analysis studies similarities and differences among consumers in two or more nations/societies?

Answer 37

Cross Cultural Analysis

Question 38

T/F- The cross cultural analysis is necessary for marketers to conduct if they want to be successful

Answer 38

True

Question 39

Which analysis includes analysis of values, customs, symbols, languages and other?

Answer 39

Cross Cultural Analysis

Question 40

The preferable modes of conduct that persist over time are known as

Answer 40

Values

Question 41

What is considered normal in a country is known as

Answer 41

Customs

Question 42

Things that represent ideas and concepts in a specific culture that can evoke deep feelings is known as

Answer 42

Cultural Symbiosis

Question 43

How many languages are there in the world?

Answer 43

100

Question 44

How many languages do experts estimate are spoken?

Answer 44

3,000

Question 45

the belief that one culture is superior to another is known as

Answer 45

Cultural Ethnocentricity

Question 46

the belief it is wrong to purchase foreign-made products can be described as

Answer 46

Consumer Ethnocentrism

Question 47

What sociocultural factors make up Hofstede's cultural dimensions?

Answer 47

Power Distance Uncertainty avoidance Individualism Masculinity Time Orientation Indulgence

Question 48

Which sociocultural factors focuses on how personal needs and goals are prioritized vs. the needs and goals of the group/clan /organization

Answer 48

Individualistic Collectivistic Factors

Question 49

Which sociocultural factors focuses on how masculine societies have different rules for men and women, less so in feminine cultures

Answer 49

Masculine/ Feminine factors

Question 50

Which sociocultural factors focuses on how comfortable are people with changing the way they work to live (low UA) or prefer the known systems (high UA)

Answer 50

Uncertainty Avoidance Factor

Question 51

Which sociocultural factors focuses on the degree people are comfortable with influencing upwards. Accept of inequality in distribution on power in society

Answer 51

Power Distance

Question 52

Which sociocultural factors focuses on the long term perspective, planning for future, perseverance values vs. short time past and present oriented?

Answer 52

Time Perspective Factor

Question 53

Which sociocultural factors focuses on allowing gratification of basic drives related to enjoying life and having fun vs. regulating it through strict social norms

Answer 53

Indulgence/ Restraint Factors

Question 54

What are the 4 types of entry for the Global Entry strategy?

Answer 54

Exporting Licensing Joint Venture Direct Investment

Question 55

What type of global entry strategy produces products in one country and sells them in another country

Answer 55

Exporting

Question 56

What type of global entry strategy offers right to a trademark, patent, trade secret or other valued item for a royalty fee?

Answer 56

Licensing

Question 57

What type of global entry strategy is a foreign company and local firm invest together with shared ownership/control /profit

Answer 57

Joint Venture

Question 58

What type of global entry strategy has firms invests in and owns foreign subsidiary/division

Answer 58

Direct Investment

Question 59

What type of global entry strategy has low risk, low financial commitment, low marketing control, and low profit potential?

Answer 59

Exporting

Question 60

What type of global entry strategy has low/mid risk, low/mid financial commitment, low/mid marketing control, and low/mid profit potential?

Answer 60

Licensing

Question 61

What type of global entry strategy has Mid/high risk, Mid/high financial commitment, Mid/high marketing control, and mid/high profit potential?

Answer 61

Joint Venture

Question 62

What type of global entry strategy has high risk, high financial commitment, high marketing control, and high profit potential?

Answer 62

Direct Investment

Question 63

Which type of products can be chosen for a global marketing mix?

Answer 63

Product Extension Product Adaptation Product Invention

Question 64

Which product consists of selling the same product or service in both the home country market and host country?

Answer 64

Product Extension

Question 65

Which product consists of selling a product or service similar to that sold in home country but include minor adaptations

Answer 65

Product Adaptation

Question 66

Which product consists of selling totally new products or services?

Answer 66

Product Invention

Question 67

What prices are apart of the global marketing mix?

Answer 67

Tariffs Quotas Anti-dumping laws Currency exchange policies Competitive factors

Question 68

What are some of the places a global marketing mix uses?

Answer 68

Global distribution networks form complex value chains Consumers shop at small, family owned stores Suppliers must be creative in delivering to these outlets

Question 69

How do companies make global communication strategies?

Answer 69

They evaluate literacy levels and how they vary by country Firms choose whether to adapt to language differences Cultural and religious differences also matter Try to develop brand names that have no preexisting meaning in local language

Question 70

What kind of brand has the same product formulation, delivers the same benefits to consumers, and uses consistent advertising across multiple countries and cultures?

Answer 70

Global Brand