Chapter 7-9

Question 1

Key elements of national competitive advantage

Answer 1

Factor conditions, demand conditions, relating and supporting industries, company structure, status and rivalry

Question 2

types of companies in a marketplace

Answer 2

international, transnational and multinational

Question 3

international firms

Answer 3

An international firm engages in trade and marketing in different countries as an extension of the marketing strategy in its home country

Question 4

transnational firms

Answer 4

A transnational firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than differences.

Question 5

multinational firms

Answer 5

A multinational firm views the world as consisting of unique parts, and markets to each part differently.

Question 6

types of global market entry

Answer 6

exporting, licensing, joint venture and direct investment