Question 1

Gandolph's Tires sells the same tire globally, but it uses different advertisements based on the country and culture. This is an example of

Accepted Answer

This is an example of glocalization, which is the adaptation of a global product and its marketing strategy to fit the unique cultural and localization differences of each market. Gandolph's Tires is maintain a global identity while customizing its advertising approach for each country or region it operates in.

Question 2

Mary wants to sell her products in Europe, since they are doing well in the U.S. She does not have a lot of capital and is risk-averse, so she most likely would choose to begin with

Accepted Answer

Exporting her products would be the best choice for Mary as it requires the least amount of capital and risk compared to other international expansion strategies like opening a franchise, strategic alliance with another company, joint venture with a local firm, or direct investment in another country. By exporting her products, Mary can simply ship her products to Europe without having to establish a physical presence in the European market. It allows her to test the waters and evaluate the demand for her products without significant investment.

Question 3

Franco, a former retailer, has been living in the United States for five years and wants to start a business. He does not have an existing firm or a product, and he doesn't have a lot of capital, but since he loves McDonald's food, he decides to

Accepted Answer

Franco can open a McDonald's franchise which allows him to use an established brand name, proven business model, and support from the franchisor. It also requires less capital compared to starting a new business from scratch.

Question 4

Franz lives in a country where he and his friends have disposable income, in spite of the fact that their average income is $650 per month, because they have no debt and don't save money. Franz most likely lives in

Accepted Answer

The answer of Franz lives in a country where he...

Question 5

Which country has embraced market-oriented economic development in spite of maintaining communist political ideals?

Accepted Answer

China is the country that has embraced market-oriented economic development while remaining a communist state. Through its economic reforms, the government has allowed for more private ownership and entrepreneurship, while maintaining its one-party political system.

Question 6

In China, state control of media is high, so companies are challenged to find ways to get their message to customers. This demonstrates one of the difficulties in crafting a global ________ strategy.

Accepted Answer

The difficulty described in the scenario is related to communication, specifically getting a message to customers due to state control of media. This highlights the challenges in crafting a global communication strategy in countries with high levels of government control of media outlets.

Question 7

If you visit a Kentucky Fried Chicken restaurant in China, you will find congee, a rice porridge that can feature pork, pickles, mushrooms, and preserved egg, on the menu. This is an example of which global product strategy?

Accepted Answer

The answer of If you visit a Kentucky Fried Chicken...

Question 8

Which country is projected to become Europe's largest online market in the next few years, with Internet users growing at a rate of 15 percent annually?

Accepted Answer

Russia is projected to become Europe's largest online market in the next few years, with a growth rate of 15 percent annually. While other countries like Great Britain, Spain, France, and Germany have significant online markets, none of them are projected to grow at the same rate as Russia.

Question 9

When Ford introduced its Figo in India, it was responding to

Accepted Answer

The economic and social trends in India were leaning toward small cars, which is why Ford introduced its Figo in the market. India's middle class was growing, and they were looking for small, fuel-efficient cars that were affordable. This trend was due to rising fuel costs and the need for more practical cars that could navigate India's crowded roads.

Question 10

Changes in _________ have been a driving force for growth in global markets for decades.

Accepted Answer

Technological advancements, such as the internet and improvements in transportation and communication, have made it easier for businesses to expand into global markets and reach a larger audience.

Question 11

Once a firm has done an analysis of the most viable markets for its products, then it must next

Accepted Answer

After identifying the most viable markets, the firm needs to assess its own capabilities and resources to determine if it has the necessary skills, technology, and resources to successfully enter those markets. By conducting an internal assessment, the firm can identify any gaps or weaknesses that need to be addressed before entering those markets. While the other options are also important steps in the market entry process, they come after the internal assessment.

Question 12

Which country's government has recently made significant changes that will modernize the retail environment, such as allowing joint ventures and direct ownership in some cases?

Accepted Answer

The answer of Which country's government has recently made significant...

Question 13

Which country has a large literate population, which has helped it move up to become the world's seventh largest economy?

Accepted Answer

The answer of Which country has a large literate population,...

Question 14

Sydney's Emporium has 59 stores in the U.S. and wants to expand globally. Sydney's wants to achieve the highest possible returns, and is not concerned about pursuing a high-risk strategy as long as it maintains complete control over its stores. The best global entry strategy for Sydney's is most likely

Accepted Answer

Direct investment will give Sydney's Emporium complete control over its stores and will allow for the highest possible returns. It will also allow Sydney's to maintain its branding and operational standards across all stores. While it may be higher risk than other entry modes, Sydney's is not concerned about this and can take on the risk in exchange for control.

Question 15

Which statement about India's population is TRUE?

Accepted Answer

The answer of Which statement about India's population is TRUE?
...

Question 16

With a median age of 34.1 years, ________ is one of the most rapidly aging countries in the world.

Accepted Answer

The answer of With a median age of 34.1 years,...

Question 17

Unilever discovered that people in emerging economies could not afford to buy standard sizes of toothpaste or shampoo, so Unilever started selling single-serve packets at very low prices. Later, Unilever discovered that the same approach worked in the U.S. and started also selling them there. This is an example of

Accepted Answer

This is an example of reverse innovation because Unilever discovered a new market opportunity in emerging economies and developed a product specifically for that market, then adapted that product for a different market (the US).

Question 18

China has three main languages, and many more dialects. This presents a particular challenge to developing a global ________ strategy.

Accepted Answer

The presence of multiple languages and dialects in China makes communication a particular challenge for developing a global strategy. It is important to consider language barriers and ensure effective communication in order to successfully market and distribute products in different regions of China.

Question 19

Core Publishing Company learned that when selling overseas, local fulfillment can be more cost effective, and it can decrease delivery time and improve customer service. This is an example of a global _________ strategy.

Accepted Answer

The strategy mentioned in the statement is related to distribution, as it pertains to the delivery and fulfillment of products. The other options (communication, product, promotion, pricing) are not mentioned in the statement and do not apply to the scenario presented.

Question 20

Which country has a rapidly aging population due to its one-child policy?

Accepted Answer

China has had a one-child policy since 1979, which has caused a decrease in the population's birth rate and an increase in the elderly population. This has led to concerns about the country's future economic growth and workforce.

Quiz 8: Global Marketing