Deck 1: Globalization Imperative

Question 1

B2B stands for:

A)bubble-to-business
B)business-to-business
C)buyer-to-business
D)best-to-business
E)Best Buy-to-business

Answer 1

B

Question 2

BRIC is an acronym for:

A)Britain, Russia, India and China
B)Brazil, Russia, India and China
C)Brazil, Russia, Ireland and China
D)Britain, Russia, Ireland and Chile

Answer 2

B

Question 3

Which of the following are NOT actual trans-national partnerships?

A)BMW + Toyota
B)Daimler + Renault-Nissan
C)Starbucks + Tata Global Beverage
D)Manchester University + Penn State
E)Yum! Brands + Aldi

Answer 3

E

Question 4

Which of the following countries do NOT have companies among the world's largest?

A)Malaysia
B)Finland
C)Venezuela
D)Thailand

Question 5

The ____________ revolution has brought profound changes in global commerce, including the build-to-order business.

A)Wal-Mart
B)CNN
C)Social Media
D)Internet
E)FedEx

Question 6

BEM refers to:

A)British Empire Markets
B)Big Emerging Markets
C)Bi-annual Economic Measures
D)Before Economic Migration

Question 7

Toyota's new strategy is to de-Japanize its business and make the ________ market its major corporate priority.

A)U.S.
B)Germany
C)England
D)Indonesia
E)none of the above

Question 8

Triad Regions of the world refers to:

A)China, Japan, India
B)North America, South America, Europe
C)North America, Western Europe, Japan
D)Europe, Middle East, Asia

Question 9

In global business, products have been traded across borders throughout recorded civilization, extending back beyond ________________ that once connected East with West.

A)The Marco Polo Road
B)The Roman Road
C)The Pioneer Road
D)The International Road
E)The Silk Road

Question 10

The number of internet users in the world was over __________ in 2018.

A)one billion
B)two billion
C)three billion
D)four billion
E)five billion

Question 11

Which of the following statements are true?

A)World merchandise trade averages the growth of twice the annual growth of global GDP
B)Total merchandise trade volume has grown over 50% over the last five years
C)Exports of commercial services are declining
D)All of the above

Question 12

The first step in developing a personal international business relationship is what?

A)Phoning the involved people
B)Emailing the involved people
C)Developing an accessible website
D)Meeting the involved people in person
E)None of the above

Question 13

Which of the following statements are true regarding the effect of globalization?

A)Poor countries may not be able to adjust fast enough to forces of globalization
B)Poor countries could be made worst off by trade liberalization
C)Economic nationalism tends to hamper further globalization
D)All of the above

Question 14

The term Global Marketing refers to a strategy to achieve which benefits:

A)Cost reduction
B)Improved product/program quality
C)Increased customer preference
D)Increased competitive advantage on a global basis
E)All of the above

Question 15

B2C stands for:

A)business-to-customers
B)business-to-consumer
C)buyer-to-business
D)business-to-countries
E)Best Buy-to-customers

Question 16

This happened in 1993.

A)Establishment of the European Union (EU)
B)The Trans-Pacific Partnership Agreement
C)The North American Free Trade Agreement (NAFTA)
D)The demise of the Soviet Union

Question 17

Saturation of domestic markets in the industrialized parts of the world has forced many companies to look for marketing opportunities beyond their _______________.

A)local borders
B)national borders
C)regional borders
D)complex borders
E)transnational borders

Question 18

Britain's decision to leave the European Union is called what?

A)EnglandExit
B)Brexit
C)BritainExit
D)Monetary Exit

Question 19

When was China's stock market crash?

A)1997
B)2004
C)Mid-2015
D)Late 2018
E)2019

Question 20

This happened in 1991.

A)Establishment of the European Union (EU)
B)The Trans-Pacific Partnership Agreement
C)The North American Free Trade Agreement (NAFTA)
D)The demise of the Soviet Union

Question 21

Which of the following are true?

A)The convergence of consumer needs at the macro level necessarily means that individual consumers will adopt all products from around the world.
B)The mutual convergence and divergence of consumer needs means that U.S.companies are automatically at an advantage.
C)The divergence of consumer needs and cultural preferences exists at the same time, and it is becoming more difficult to pinpoint consumers' preferences in any local market around the world.
D)The divergence of consumer needs and cultural preferences exists at the same time, and it is becoming easier to pinpoint consumers' preferences in any local market around the world.

Question 22

This happened in 1994.

A)Establishment of the European Union (EU)
B)The Trans-Pacific Partnership Agreement
C)The North American Free Trade Agreement (NAFTA)
D)The demise of the Soviet Union

Question 23

Which of these factors influenced European companies' specialized, premium product strategy (prior to the formation of the EU):

A)fragmented markets
B)heterogeneous markets
C)differentiated markets
D)myriad laws
E)all of the above

Question 24

In 2007, EU member states came to an agreement, known as

A)the Lisbon Treaty
B)the Brussels Treaty
C)the EU Constitution
D)The EU Treaty

Question 25

In 2018, which country had the largest number of large companies based there?

A)China
B)Japan
C)Germany
D)United States
E)Britain

Question 26

The extensive international penetration of U.S.and other companies has been referred to as ____________________.

A)local reach
B)regional reach
C)political reach
D)social reach
E)global reach

Question 27

In the consumption process, people around the world with per capita income of $20,000 and above have a pretty good _________________.

A)physical power
B)political power
C)purchasing power
D)consumption power
E)psychological power

Question 28

This happened in 2015.

A)Establishment of the European Union (EU)
B)The Trans-Pacific Partnership Agreement
C)The North American Free Trade Agreement (NAFTA)
D)The demise of the Soviet Union

Question 29

FDI stands for:

A)Firm Development Investment
B)Foreign Development Internationalization
C)Foreign Direct Investment
D)Firm Development Investment

Question 30

According to the textbook, the process of globalization does not suffocate _________________, but rather liberates them from the ideological conformity of nationalism.

A)global cultures
B)regional cultures
C)Asian cultures
D)dynamic cultures
E)local cultures

Question 31

In global marketing, competitive pressure can also come from _____________ at home.

A)competitors
B)conglomerates
C)groups
D)locals
E)regionals

Question 32

In today's global marketing, international trade and foreign production are increasingly managed on a __________________.

A)vertical basis
B)horizontal basis
C)global basis
D)regional basis
E)local basis

Question 33

Multinational companies (MNCs) are increasingly managing the international trade flow within themselves.This phenomenon is called _________________.

A)intra-firm trade
B)interfirm trade
C)bi-national trade
D)poly-national
E)geo-national

Question 34

____________________ consists of exports and imports between a country and the rest of the world.

A)Regional reach
B)Competition
C)International trade
D)International business
E)Regional investment

Question 35

In 2018, which country had the second largest number of large companies based there?

A)China
B)Japan
C)Germany
D)United States
E)Britain

Question 36

In order to reduce U.S.trade deficits, the U.S.government under the Trump Administration did what?

A)Raised income taxes on firms headquartered in China
B)Bared China from exporting high profit goods to the US
C)Imposed a series of tariffs
D)Started a trade war
E)All of the above

Question 37

When a country's per capita income is below $10,000, consumers spend most of their income on:

A)food and other necessities.
B)higher education.
C)electronic appliances.
D)buying houses.
E)foreign travel.

Question 38

____________________includes international trade and foreign production..

A)Regional reach
B)Competition
C)International trade
D)International business
E)Regional investment

Question 39

The term global epitomizes both the competitive pressure and expanding:

A)basic opportunities.
B)social opportunities.
C)physical opportunities
D)market opportunities.
E)bottom opportunities.

Question 40

According to the text, ____________________ of the world trade is managed one way or another by MNCs.

A)one-third
B)two-thirds
C)one-fourths
D)two-fourths
E)three-fourths

Question 41

As a company's market share in a number of countries reaches a certain point, it becomes important for the company to defend its position vis-à-vis local competition.This is an example of _____________________ orientation.

A)geocentric
B)regiocentric
C)ethnocentric
D)egocentric
E)polycentric

Question 42

Responding to changes in the market and competitive environments by moving forward in a ______________ manner waits for others to formulate strategies before making decisions.

A)proactive
B)deductive
C)constructive
D)reactive
E)participative

Question 43

A unique feature of international marketing is its ________________ orientation with emphasis on product and promotional adaptation in foreign markets.

A)geocentric
B)regiocentric
C)ethnocentric
D)polycentric
E)egocentric

Question 44

_____________ is essentially a creative corporate activity involving the planning and execution of the conception, pricing, promotion, and distribution of ideas, products, and services in an exchange that not only satisfy customers' present needs but also anticipates and creates their future needs at a profit.

A)Selling
B)Sourcing
C)Manufacturing
D)Human resources
E)Marketing

Question 45

There are five identifiable stages in the evolution of marketing across national boundaries.The first stage is:

A)global marketing.
B)international marketing.
C)export marketing.
D)direct marketing.
E)domestic marketing.

Question 46

Once export marketing becomes an integral part of a company's marketing activity, it will begin to seek new directions for growth and international expansion.This stage is called ________________________.

A)exporting
B)green marketing
C)multinational marketing
D)global marketing
E)international marketing

Question 47

Some companies progress to a more involved stage of internationalization by direct exporting, once three internal conditions are satisfied.Which of the following is not one of those conditions?

A)Managers can speak a foreign language
B)Management is willing to commit adequate resources to export activities
C)Management obtains favorable expectations of the attractiveness of exporting
D)The company has access to key resources necessary for undertaking additional export-related tasks
E)There are actually four conditions and all of the above are correct

Question 48

Export marketers still tend to take a(n) ____________ approach to foreign markets.

A)geocentric
B)polycentric
C)ethnocentric
D)dualcentric
E)regiocentric

Question 49

Companies often develop different marketing strategies depending on the degree of experience and __________.

A)the cost of capital in international markets
B)the span of control of management
C)their consumer concept
D)the nature of operations in international markets
E)the corporate focus

Question 50

Responding to changes in the market and competitive environments by moving forward in a ________________ manner anticipates changes and then formulates strategies.

A)proactive
B)deductive
C)constructive
D)reactive
E)participative

Question 51

Domestic marketers tend to be ________________.

A)ethnocentric
B)biocentric
C)polycentric
D)geocentric
E)localcentric

Question 52

Five types of marketing that have led to the evolution of global marketing are domestic marketing, export marketing, international marketing, multidomestic marketing, _________________, and global marketing.

A)multinational marketing
B)consumer marketing
C)gray marketing
D)expansion marketing
E)import marketing

Question 53

There are five identifiable stages in the evolution of marketing across national boundaries.The last stage is:

A)global marketing.
B)international marketing.
C)export marketing.
D)direct marketing.
E)domestic marketing.

Question 54

The ________________ stage begins with unsolicited orders from foreign customers.

A)export marketing
B)domestic marketing
C)indirect marketing
D)international marketing
E)multinational marketing

Question 55

When a company focuses solely on its domestic market, this strategy is characterized as one employing:

A)global marketing.
B)international marketing.
C)domestic marketing.
D)indirect marketing.
E)direct marketing.

Question 56

Domestic marketing strategy is characterized as a strategy that is developed based on information about domestic customer needs and wants, economic, technological, and political environments at home, and ____________________.

A)taxes
B)customer habits
C)geography
D)culture
E)industry trends

Question 57

Firms that possess a global vision from their start engage in export sales immediately and even FDI as well as international alliances at an early stage of development are called what?

A)Going global
B)Born global
C)Raised global
D)Strictly global
E)Born international

Question 58

Marketing includes the entire company's:

A)quality orientation.
B)market orientation.
C)cost orientation.
D)production orientation.
E)demand orientation.

Question 59

Some companies progress from export marketing to a more involved stage of internationalization once:

A)managers can speak a foreign language
B)management is willing to commit adequate resources to export activities
C)the company's stock increases
D)the metric system becomes standard
E)new management has been hired

Question 60

Export marketing consists of:

A)indirect and direct exporting.
B)indirect and longitudinal exporting.
C)indirect and passive exporting.
D)indirect and active exporting.
E)indirect and aggressive exporting.

Question 61

___________________ theory states that a country can gain from engaging in trade even if it has an absolute advantage or disadvantage.

A)Constructive advantage
B)Comparative advantage
C)Concentric advantage
D)Supply and demand
E)Relative cost advantage

Question 62

Global marketing refers to all of the marketing activities except:

A)bi-national efforts
B)standardization efforts
C)coordination across markets
D)global integration
E)none of the above

Question 63

Developing similar marketing programs across different countries particularly with respect to product offering, promotional mix, price, and channel structure refers to which of the following?

A)standardization efforts
B)coordination across markets
C)global integration
D)none of the above

Question 64

When management of a company comes to realize the benefit of economies of scale in product development, manufacturing, and marketing by consolidating some of its activities on a regional basis, the company is ready to move into the _____________ stage of marketing.

A)multinational
B)customization
C)global
D)international
E)polycentric

Question 65

If a company were to standardize its product groups within a region (for instance, Western Europe), the company would be characterized as taking a ___________ orientation to its planning activities.

A)bicentric
B)polycentric
C)geocentric
D)concentric
E)regiocentric

Question 66

Reducing cost inefficiencies and duplication of efforts among their national and regional subsidiaries refers to which of the following?

A)standardization efforts
B)coordination across markets
C)global integration
D)none of the above

Question 67

In a polycentric orientation, marketers begin to _________________ products to local conditions.

A)standardize
B)regulate
C)adapt
D)centralize
E)subsidize

Question 68

Global marketing strategy realizes that ___________________ leads to higher costs.

A)operational fragmentation
B)standardization
C)production ISO standards
D)market promotion
E)high technology robots

Question 69

Black & Decker, a U.S.hand tool manufacturer, adopted a(n) __________________ perspective by standardizing and streamlining components such as motors and rotors while maintaining a wide range of product lines creating a universal image for its products.

A)international marketing
B)global marketing
C)multinational marketing
D)export marketing
E)concentric marketing

Question 70

Which of the following is a principle of international trade?

A)Japanese workers are more productive than any other workers in the world.
B)Countries benefit from international trade.
C)Manufacturers must be forced into international trade.
D)Specialization is bad for international trade.
E)Exchange rates are determined by the World Bank.

Question 71

An actual exchange rate between two countries is affected by consumer demands and _______________________ in the two countries.

A)money supply situations
B)political alliances
C)the deficit
D)the Federal Reserve
E)the factor formula

Question 72

Which of the following is a principle of international trade?

A)United States workers rebel against productivity programs.
B)Outsourcing must be used to succeed in international trade.
C)The United Nations will settle all trade disputes.
D)Exchange rates are determined primarily by traded goods.
E)Gray markets make third world countries more efficient.

Question 73

Marketing executives should have a thorough understanding of not only the availability of various resources but also emerging consumer and societal needs on a ____________________.

A)cluster basis
B)local basis
C)global basis
D)regional basis
E)none of the above

Question 74

The _________________ argument says that two countries cannot engage in trade if one country has a(an) ___________________ over the other country.Note: the phrase will fit in both blanks.

A)absolute advantage
B)regional advantage
C)supply chain advantage
D)comparative advantage
E)global advantage

Question 75

General Motors has a regional subsidiary, Opel headquartered in Germany, to market both GM and Opel cars with a strong European distinction.This would be an example of ________________ marketing.

A)multinational
B)global
C)transnational
D)international
E)domestic

Question 76

Comparative advantage theory was first presented by:

A)David Ricardo.
B)John Stuart Mill.
C)Michael Porter.
D)Milton Friedman.
E)Adam Smith.

Question 77

The term that describes a price of one good in terms of another is called __________.

A)comparative terms of trade
B)regional terms of trade
C)factor endowment theory
D)global terms of trade
E)commodity terms of trade

Question 78

Even if the United States is more efficient in the production of everything than China, both countries will benefit from their bilateral trade by specializing in what each country can produce relatively more efficiently.This statement is an example of which economic theory?

A)relative cost advantage
B)supply and demand
C)concentric advantage
D)comparative advantage
E)constructive advantage

Question 79

If international marketing is taken to the extreme, a company may establish an independent foreign subsidiary in each and every foreign market and have each of the subsidiaries operate independently of each other without any measurable headquarters control.This special case is called:

A)multinational marketing.
B)export marketing.
C)international marketing.
D)multidomestic marketing.
E)resource-based marketing.

Question 80

Which of the following is a principle of international trade?

A)German workers will not work without Union representation.
B)International trade hurts many countries since it is basically unfair to developing nations.
C)International trade increases worldwide production by specialization.
D)Exchange rates are determined by the Hague Convention.
E)Bribery drives up prices in world trade.