Question 1

Explain how marketers are using the Web for international business.

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Question 2

Discuss three disadvantages of standardizing the marketing mix worldwide.

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Question 3

What are the various risks that a company must consider before making a decision to enter foreign markets?

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Question 4

Satisfying different consumer needs and wants can require different marketing programs. Name the four cultural dimensions that differentiate countries, as identified by Hofstede.

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Question 5

Outline the major decisions that a firm must undergo in making a decision to market internationally.

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Question 6

Briefly describe the advantages of direct investment.

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Question 7

Regional free trade zones exist around the world. One of the oldest is the European Union, formed in 1957. Describe the purpose of the EU and discuss some of the benefits to firms engaged in trade within the European Union.

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Question 8

"No matter which nation a person belongs to, people's inherent needs and requirements are essentially the same." - Do you agree with this statement? How relevant is this statement in the context of marketing?

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Question 9

Define a joint venture and list some of the advantages and disadvantages.

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Question 10

Discuss three advantages of standardizing the marketing mix worldwide.

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Question 11

International companies must decide how much to adapt their marketing strategy to local conditions. Identify and explain the two strategies companies can use.

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Question 12

Some types of products travel better across borders than others. What types of products are most likely to be successful as straight extensions.

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Question 13

When deciding where to operate internationally, it often makes sense to operate in fewer countries, with a deeper commitment and penetration in each. Mention some of the criteria that a country should possess in order to be a viable and attractive investment destination.

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Question 14

Once a company decides to target a particular country, it must determine the best mode of entry. Each of its market entry strategies involves more commitment, risk, control, and profit potential. List these market entry strategies in order from low risk to high risk.

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Question 15

Explain the country-of-origin effect.

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Question 16

Define psychic proximity and explain why it is important for companies engaged in exporting products.

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Question 17

A company that is planning to go global must decide on how many countries to enter and how fast to expand. A company's entry strategy typically follows one of two possible approaches. What are those approaches?

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Question 18

Define the internationalization process' four stages.

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Question 19

Name the three choices that companies have for setting prices in different countries.

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Question 20

Most brands are adapted to some extent to reflect significant differences in consumer behavior, brand development, competitive forces, and the legal or political environment. Identify the five international product and communication strategies available to firms that expand their businesses to foreign countries.

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Quiz 21: Tapping into Global Markets