M1S2 Quiz 1 (Part 1)

Question 1

the global experience learning curve (4)

Four Distinct stages:

Answer 1

1. No Foreign Marketing
2. Foreign Marketing
3. International Marketing
4. Global Marketing

Question 2

companies with “_________” may still do business with international customer through intermediaries or limited contacts.

companies with “_________” don’t actively try to sell their products in other countries. however they can still get international customers.

Answer 2

No Foreign Marketing

Question 3

Key activities are done in the home country but modified for international market

Answer 3

Foreign Marketing

Question 4

Firm begins to manufacture products outside the home market.

Makes products in Foreign Countries.

Management may still have a “domestic first” mindset. (might still focus on the home country)

Answer 4

International Marketing

Question 5

views the world as a single market with many different segments.

fifty percent or more of revenue comes from international markets.

Moving to “_________” depends on research critical for decision makers.

Answer 5

Global Marketing

Question 6

The Five components of essential information that relate to global marketing experience and international expansion. (5)

Answer 6

1. Economic Environment
2. Culture and Societal trends
3. Business Environment
4. Political and Legal Changes
5. Specific Market Condition

Question 7

consist of a group of countries that create formal relationships for mutual economic benefit through lower tariffs and reduced trade barriers.

groups of countries that form formal relationships to benefit economically. they do this by lowering tariffs and reducing trade barriers.

(Example: NAFTA (north American Free Trade Agreement), and the European Union (EU))

Answer 7

Multinational Region Market Zones

Question 8

View competition, target market size and growth rate. what is the size of investment? how long will it take to become profitable?

Answer 8

Identify Selection Criteria

Question 9

does the company have the personnel, managerial and financial resources to enter the market?

Answer 9

Company Review

Question 10

Requires minimal investment and risk.

Answer 10

Exporting

Question 11

the “________” has increased both domestic and international sales through the use of credit cards and other payment systems plus global delivery systems like FedEx and UPS and DHL. Amazon has gone global.

Answer 11

Internet

Question 12

provides expertise in global shipping

Answer 12

Exporters

Question 13

know local market conditions best.

Answer 13

Distributers

Question 14

is expensive but needed with technology or high-end industrial products.

Answer 14

direct sales force

Question 15

are non-equity relationships with another company, often in the target country.

Answer 15

Contractual Agreements