Question 1

Louis Vuitton is a French fashion brand known for creating and marketing high-end hand bags and luggage adorned with its highly recognizable logo.Louis Vuitton products are sold through their exclusive retail stores across the world and they utilize advertising with very little or no copy - featuring their products in fashion magazines.Since their ads focus on the products and only include the brand name,the _________ marketing strategy is applied.

Accepted Answer

Louis Vuitton uses a global marketing strategy, as they maintain a consistent brand image and advertising approach worldwide, focusing on their products and brand name without tailoring to specific local markets.

Question 2

Which of the following firms is ranked as the world's largest marketer in terms of annual sales?

Accepted Answer

Walmart is ranked as the world's largest marketer in terms of annual sales, with revenue of over $500 billion in 2018. General Electric is primarily an industrial company, while ExxonMobil and Royal Dutch Shell are oil and gas companies.

Question 3

Despite over a hundred million viewers every year watching the Super Bowl,the NFL worries it is nearing market saturation in the U.S.So the NFL is scheduling regular-season games at London's storied Wembley Stadium.According to the information given in this case,which of the following marketing strategies is being used by the NFL?

Accepted Answer

The NFL is using a global marketing strategy by scheduling regular-season games at Wembley Stadium in London, which indicates that the league is expanding beyond the U.S. market and targeting a global audience.

Question 4

At an international company's staff meeting,a division manager introduces employees to the latest update on the friendship,commerce,and navigation treaties (FCN)with other governments.She shows slides of information from the U.S.Department of State's annual publication Treaties in Force.Which fact is evident from the staff meeting information?​

Accepted Answer

The fact evident from the staff meeting information is that the details of treaties are subject to change because the updates are published each year. This can be inferred from the division manager introducing employees to the latest update on FCN treaties from the U.S. Department of State's annual publication Treaties in Force.

Question 5

​As your cheese exporting company expands around the globe,you are prepared to deal with potential revenue tariffs,protective tariffs,and even embargoes.However,an industry colleague reminds you of other potential trade barriers you have overlooked.These include:

Accepted Answer

Special permits may be required by some countries to import dairy products, and detailed inspection requirements could delay shipments. Quotas on American-made cheeses also pose a potential trade barrier. Therefore, a cheese exporting company must be prepared to comply with various regulations in different parts of the world, and ensure timely delivery of their products. Additionally, common markets for cheese, such as the EU, may have their own trade regulations that need to be adhered to.

Question 6

Match each item with the correct statement below.
-A nation's basic system of transportation networks,communications systems,and energy facilities is known as its _____.

Accepted Answer

Infrastructure refers to a nation's basic system of transportation networks, communications systems, and energy facilities.

Answer: D 
 Exchange rate refers to the value of one currency in relation to another currency.

Answer: P 
 A customs union is a group of countries that have agreed to eliminate tariffs and non-tariff barriers on trade with each other and to adopt a common external tariff on trade with non-members.

Answer: S 
 An embargo is a government-imposed restriction on trade or commerce with a specific country or countries.

Answer: T 
 A franchise is a type of business model in which an entrepreneur is granted the right to sell a company's products or services in a certain geographic area.

Question 7

Which of the following factors makes United States an attractive market for foreign companies?

Accepted Answer

High levels of discretionary income make United States an attractive market for foreign companies, as consumers have more disposable income to spend on goods and services.

Question 8

​You are nervous about expanding your company into China because of recent trade barriers in that country.Specifically,you worry about:

Accepted Answer

The answer of ​You are nervous about expanding your company...

Question 9

The North American Free Trade Agreement (NAFTA)is a trade accord that removes trade barriers among:

Accepted Answer

NAFTA is an agreement between Canada, Mexico, and the United States aimed to eliminate trade barriers among these countries. Choice A refers to the Free Trade Area of the Americas, which was never fully implemented, and includes various countries beyond NAFTA. Choices C and D are incorrect as they do not accurately describe the countries included in NAFTA.

Question 10

Which of the following has led to the success of Toyota,Honda and Kia Motors in the United States?

Accepted Answer

The establishment of production facilities in the United States has allowed Japanese and Korean automakers like Toyota, Honda, and Kia Motors to avoid import taxes and other trade barriers, while also minimizing shipping costs and allowing for quicker and more efficient distribution. This has helped to improve their competitiveness and success in the US market.

Question 11

ISO 9000 standards of the International Organization for Standardization sets requirements for:

Accepted Answer

ISO 9000 standards set requirements for quality management systems that help organizations ensure that their products and services consistently meet customer and regulatory requirements. It does not specifically address production operations, worker compensation, or environmental concerns.

Question 12

​You work for a Middle Eastern firm that has just decided to sell jewelry to the United States market.This decision was motivated by several accurate considerations,including:

Accepted Answer

The United States has a large market for jewelry, high levels of discretionary income which can lead to increased spending on luxury items like jewelry, and political stability which makes it a reliable market for business. However, there are many foreign competitors in the U.S. jewelry market, so D is not an accurate consideration.

Question 13

Coca Cola is a worldwide manufacturer and distributor of carbonated beverages.A visit to its museum - the World of Coca Cola in Atlanta,GA features a beverage lounge where visitors can sample beverages from around the world.There are five tasting stations arranged geographically - Africa,Asia,Europe,Latin America,and North America.Each station offers different beverages to sample that are unique to that region.What aspect of achieving global marketing success do the variety of products by geographic region represent?

Accepted Answer

The variety of products by geographic region represents the ability to adapt products to local preferences and culture, which is an important aspect of achieving global marketing success. The fact that Coca Cola offers different beverages at each tasting station shows that they understand the importance of catering to local tastes and preferences in order to succeed in different regions.

Question 14

Match each item with the correct statement below.
-A(n)_____ is the price of one nation's currency in terms of another nation's currency.

Accepted Answer

An exchange rate is the price of one nation's currency in terms of another nation's currency.

Answer: E
 A tariff is a tax placed on imported goods.

Answer: C
 Infrastructure refers to the basic physical and organizational structures and facilities needed for the operation of a society or enterprise.

Answer: A
 Exporting refers to the sale of goods or services produced in one country to another country.

Answer: F
 An import quota is a limit on the quantity of a particular good that can be imported into a country.

Answer: G
 Dumping refers to the practice of selling goods in a foreign market at a price lower than the cost of production or below the price charged in the home market.

Answer: I
 Foreign licensing involves allowing a foreign company to use a domestic company's intellectual property (such as patents or trademarks) in exchange for payment.

Answer: J
 A multinational corporation is a company that operates in multiple countries, often with a centralized management structure.

Answer: K
 A global marketing strategy refers to a marketing approach that is consistent across all countries in which a company operates.

Answer: L
 A multidomestic marketing strategy refers to a marketing approach that is tailored to the specific cultural, societal, and legal differences of each country in which a company operates.

Answer: M
 Countertrade refers to the exchange of goods or services between two countries without the use of currency.

Answer: P
 A customs union is a group of countries that have agreed to eliminate tariffs and other barriers to trade among themselves, and to set a common external tariff on imports from non-member countries.

Answer: Q
 CAFTA-DR (Central American Free Trade Agreement - Dominican Republic) is a free trade agreement between the United States, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic.

Answer: R
 An importer is a person or company that brings goods into a country for sale or distribution.

Answer: S
 An embargo is a government-imposed restriction on trade with one or more countries.

Answer: T
 A franchise is a business model in which a franchisor allows a franchisee to use its business name, brand, and system in exchange for a fee and ongoing royalties.

Answer: H
 ISO certification is a globally recognized standard for quality management systems, indicating that a company meets specific requirements for producing high-quality products or services.

Answer: O
 Exchange controls refer to government restrictions on the buying and selling of foreign currencies.

Question 15

​As the CEO of a corporation with customers in every part of the globe,you hope to see more of the world's nations become members of the WTO.This would benefit firms like yours because the World Trade Organization:

Accepted Answer

The answer of ​As the CEO of a corporation with...

Question 16

A publisher of children's picture books is a family business that has decided to export their products to foreign bookstores.The family members expect to be very involved in all the company's decisions.Which model of first-time exporting would best fit this family business?​

Accepted Answer

An export-management company would be the best fit for this family business, as they would still maintain control over all the company's decisions while outsourcing the export process to a specialized management company. This would allow the family to focus on creating and producing quality children's picture books, while a professional export management team handles the logistics and sales in foreign markets. This model also offers the benefit of lower risk and lower investment compared to direct investing or subcontracting on a large project.

Question 17

​Several countries on the African continent are disadvantaged by both low per-capita incomes and substandard communications infrastructures.These countries are likely to be poor markets for _____ but good markets for ____.

Accepted Answer

The answer of ​Several countries on the African continent are...

Question 18

​Global Consultants Inc.offers advice to small businesses considering international expansion.Its experts point out the potential advantages of going global,including

Accepted Answer

Option A and B are potential advantages of going global, as small businesses can gain new insights into consumer behavior and access alternative distribution strategies. However, options C and D are not necessarily advantages of going global, as a small business could potentially face new and even more fierce competitors and face intense price competition in new markets. Therefore, the best choices are A and B.

Question 19

The activities of the World Trade Organization thus far have focused on dispute resolution rather than reducing trade barriers as:

Accepted Answer

The differences between developed and developing nations have been a major obstacle to reducing trade barriers. As such, the WTO has primarily focused on resolving disputes between member countries over trade issues rather than making binding decisions to lower trade barriers.

Question 20

Match each item with the correct statement below.
-Trade between U.S.subsidiaries of foreign owned firms and their parent companies is referred to as _____.

Accepted Answer

Related party trade refers to trade between two entities that have a special relationship, such as a subsidiary and its parent company.

Answer: J
 A multinational corporation is a company that operates in multiple countries, often with subsidiaries or affiliates in different locations.

Answer: M
 Countertrade refers to a practice where goods or services are exchanged for other goods or services, rather than using cash.

Answer: S
 An embargo is a government-imposed restriction on trade, often in the form of a ban on certain goods or services to a particular country or region.

Answer: T
 A franchise is a business model where one company (the franchisor) grants a license to another company (the franchisee) to use their product, brand, and business model.

Note: Without additional context or information, it is difficult to match every item with a statement. Some of the items have multiple possible statements or are not directly related to international trade.

Quiz 8: Global Marketing

Which of the following firms is ranked as the world's largest marketer in terms of annual sales?

As your cheese exporting company expands around the globe,you are prepared to deal with potential revenue tariffs,protective tariffs,and even embargoes.However,an industry colleague reminds you of other potential trade barriers you have overlooked.These include:

Match each item with the correct statement below. -A nation's basic system of transportation networks,communications systems,and energy facilities is known as its _____.

Which of the following factors makes United States an attractive market for foreign companies?

You are nervous about expanding your company into China because of recent trade barriers in that country.Specifically,you worry about:

The North American Free Trade Agreement (NAFTA) is a trade accord that removes trade barriers among:

Which of the following has led to the success of Toyota,Honda and Kia Motors in the United States?

ISO 9000 standards of the International Organization for Standardization sets requirements for:

You work for a Middle Eastern firm that has just decided to sell jewelry to the United States market.This decision was motivated by several accurate considerations,including:

Match each item with the correct statement below. -A(n) _____ is the price of one nation's currency in terms of another nation's currency.

As the CEO of a corporation with customers in every part of the globe,you hope to see more of the world's nations become members of the WTO.This would benefit firms like yours because the World Trade Organization:

A publisher of children's picture books is a family business that has decided to export their products to foreign bookstores.The family members expect to be very involved in all the company's decisions.Which model of first-time exporting would best fit this family business?

Several countries on the African continent are disadvantaged by both low per-capita incomes and substandard communications infrastructures.These countries are likely to be poor markets for _ but good markets for .

Global Consultants Inc.offers advice to small businesses considering international expansion.Its experts point out the potential advantages of going global,including

The activities of the World Trade Organization thus far have focused on dispute resolution rather than reducing trade barriers as:

Match each item with the correct statement below. -Trade between U.S.subsidiaries of foreign owned firms and their parent companies is referred to as _____.

Quiz 8: Global Marketing

Which of the following firms is ranked as the world's largest marketer in terms of annual sales?

​As your cheese exporting company expands around the globe,you are prepared to deal with potential revenue tariffs,protective tariffs,and even embargoes.However,an industry colleague reminds you of other potential trade barriers you have overlooked.These include:

Match each item with the correct statement below. -A nation's basic system of transportation networks,communications systems,and energy facilities is known as its _____.

Which of the following factors makes United States an attractive market for foreign companies?

​You are nervous about expanding your company into China because of recent trade barriers in that country.Specifically,you worry about:

The North American Free Trade Agreement (NAFTA) is a trade accord that removes trade barriers among:

Which of the following has led to the success of Toyota,Honda and Kia Motors in the United States?

ISO 9000 standards of the International Organization for Standardization sets requirements for:

​You work for a Middle Eastern firm that has just decided to sell jewelry to the United States market.This decision was motivated by several accurate considerations,including:

Match each item with the correct statement below. -A(n) _____ is the price of one nation's currency in terms of another nation's currency.

​As the CEO of a corporation with customers in every part of the globe,you hope to see more of the world's nations become members of the WTO.This would benefit firms like yours because the World Trade Organization:

A publisher of children's picture books is a family business that has decided to export their products to foreign bookstores.The family members expect to be very involved in all the company's decisions.Which model of first-time exporting would best fit this family business?​

​Several countries on the African continent are disadvantaged by both low per-capita incomes and substandard communications infrastructures.These countries are likely to be poor markets for _____ but good markets for ____.

​Global Consultants Inc.offers advice to small businesses considering international expansion.Its experts point out the potential advantages of going global,including

The activities of the World Trade Organization thus far have focused on dispute resolution rather than reducing trade barriers as:

Match each item with the correct statement below. -Trade between U.S.subsidiaries of foreign owned firms and their parent companies is referred to as _____.

As your cheese exporting company expands around the globe,you are prepared to deal with potential revenue tariffs,protective tariffs,and even embargoes.However,an industry colleague reminds you of other potential trade barriers you have overlooked.These include:

You are nervous about expanding your company into China because of recent trade barriers in that country.Specifically,you worry about:

You work for a Middle Eastern firm that has just decided to sell jewelry to the United States market.This decision was motivated by several accurate considerations,including:

As the CEO of a corporation with customers in every part of the globe,you hope to see more of the world's nations become members of the WTO.This would benefit firms like yours because the World Trade Organization:

A publisher of children's picture books is a family business that has decided to export their products to foreign bookstores.The family members expect to be very involved in all the company's decisions.Which model of first-time exporting would best fit this family business?

Several countries on the African continent are disadvantaged by both low per-capita incomes and substandard communications infrastructures.These countries are likely to be poor markets for _ but good markets for .

Global Consultants Inc.offers advice to small businesses considering international expansion.Its experts point out the potential advantages of going global,including