Question 1

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 2

Once a company decides to target a particular country, it has to 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 highest risk.

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Question 3

One of the best ways to initiate or extend export activities used to be to exhibit at an overseas trade show. With the Web, it is not even necessary to attend trade shows to show one's wares. Explain how marketers are using the Web for international business.

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Question 4

In deciding to go abroad, a company needs to define its marketing objectives and policies. Viterra chooses new locations based on which 3 preferences. What are they?

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Question 5

Most companies would prefer to remain domestic if their domestic market were large enough. Yet several factors are drawing more and more companies into the international arena. List some of these factors and explain.

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Question 6

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

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Question 7

The concept of licensing contains many dimensions. From a simply license through management contracts, contract manufacturing, and franchising, the level of commitment by the firms involved increases. Define each of these forms and list some of the pros and cons for utilizing the particular form of licensing.

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Question 8

Foreign investors may join with local investors to create a joint venture. Define a joint venture, and list some of the advantages and disadvantages to the firm of such a venture.

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Question 9

Before making a decision to enter foreign markets, the firm must weigh several risks. List these risks and discuss each.

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Question 10

In an increasingly connected, highly competitive global marketplace, government officials, and marketers are concerned with how attitudes and beliefs about their country affect consumer and business decision makers. What is the term for this concept and what is the position of government officials and marketers?

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Quiz 21: Tapping into Global Markets