Global Marketing Flashcards
President Obama couldn’t sleep and decided to flip through some of the U.S. financial statements in hopes to get back to sleep. He was surprised to read that the United States imports almost $700 billion dollars worth of goods and services more than it exports every year. He was so surprised he woke up Vice President Biden and told him to go double check those numbers. In general, the term describing the difference between U.S. imports and exports is:
A. The shrinking globe
B. Import surplus
C. Trade difference
D. Balance of Trade
D
. In international marketing, direct investment means
A. A domestic firm actually owning a foreign subsidiary or division
B. Contracting with a foreign firm to manufacture products according to certain specifications
C. Having a company handle its own exports directly, without intermediaries
D. A foreign company and a local firm investing together to create a local business
A
Rosie True is a women’s boutique chain in the Midwest. Angie, the owner of Rosie True, decided to open a store in Tokyo, Japan. She has developed the plans for the Tokyo store and has ordered a completely new assortment of clothing that caters to women in Tokyo. She even has changed the name of the store to Japanese Characters. A local Tokyo ad agency is designing her promotional program for the Japanese market. What global marketing strategy is Angie pursuing?
A. Pure non-standardization
B. Pure standardization
C. Exporting
D. International standardization
A
Morton’s, a large furniture company in the U.S., decides to internationalize by expanding into the Chinese market. In China, Morton’s will keep their signature Wally the Comfy Couch logo, as well as their customer guarantees and spacious layout of their showrooms that their customers love so much. However, they also will adapt to Chinese tastes by hiring a Chinese person to design the furniture they will be selling. Morton’s is practicing:
A. Synergizing
B. Glocalization
C. International Integration
D. Economic Adaptation
B
The United States is the world’s perennial leader in terms of ___________, which is the monetary value of all goods and services produced in a country during one year.
A. Balance of trade deficit (BOTD)
B. Transfer payment options (TPO)
C. Balance of payments (BOP)
D. Gross domestic product (GDP)
D
Assume the United States imported $900 billion dollars worth of goods last year and exported $400 billion dollars worth of goods. What is the U.S. balance of trade?
A. $500 billion deficit
B. $1300 billion deficit
C. $500 billion surplus
D. $1300 billion surplus
A
