Question 1

________ is a key word(s)in conducting business in the Middle East.

Accepted Answer

The answer of ________ is a key word(s)in conducting business...

Question 2

The markets of Central and Eastern Europe present interesting opportunities and challenges for low-cost manufacturing due to:

Accepted Answer

Central and Eastern Europe offer lower wage rates compared to countries like Spain, Portugal, and Greece, making them attractive for low-cost manufacturing. The other options do not accurately represent the general advantages or characteristics of these markets for manufacturing.

Question 3

The enlargement of the EU has affected marketing strategies in the Euro zone countries by:

Accepted Answer

DThe enlargement of the EU has facilitated the movement of goods within member states, including the ability to shift products between markets to address shortages (C). Additionally, it has led to reduced tariffs and quotas for products imported from non-EU members (D), enhancing trade relations and market access for countries outside the EU.

Question 4

According to EU regulations,Kraft parmesan cheese cannot be sold in Europe because:

Accepted Answer

The EU has strict regulations on geographical indications and traditional specialities, protecting names of products like "Parmesan" which is a protected designation for cheese produced in certain regions of Italy. Kraft Parmesan cheese cannot be sold under that name in Europe because it does not meet the specific production and geographical criteria.

Question 5

The new country,which joined the EU at the beginning of 2015,is:

Accepted Answer

Lithuania was the last of the Baltic states to join the eurozone, which it did at the beginning of 2015.

Question 6

European countries would benefit by having an FTA with the United States.However,there are some sticky points,which need resolution.All of the following points need consideration except:

Accepted Answer

The U.S. government seeking to ease restrictions for purchasing European goods is not a point of contention that needs resolution for a Free Trade Agreement (FTA) between European countries and the United States. It is more of a goal or desire from the U.S. side rather than a sticky point that requires negotiation or resolution.

Question 7

Because they are in transition,the markets of Central and Eastern Europe present interesting opportunities and challenges,which include:

Accepted Answer

The markets of Central and Eastern Europe, being in transition, offer various opportunities and challenges such as new sources of growth, first mover advantage, the potential for exporting as an entry mode, and lower wage rates, making all of the provided options correct.

Question 8

There are several issues related to labeling of products exported to the EU.Explain giving an example of one such issue.

Accepted Answer

The answer of There are several issues related to labeling...

Question 9

The business environment in Europe has undergone considerable transformation since 1992 with significant implications for all elements of the marketing mix except:

Accepted Answer

The business environment changes in Europe since 1992 have significantly impacted product, price, promotion, and distribution aspects of the marketing mix, but the process, which refers to the mechanisms and flow of activities by which services are consumed, is not directly influenced by these changes in the same way.

Question 10

Political and social instability in the Middle Eastern region can primarily be attributed to:

Accepted Answer

The wide gap between rich and poor nations due to oil revenues has led to significant economic disparities, contributing to political and social instability in the region.

Question 11

"Although the ASEAN countries are geographically close,they have historically been divided in many respects." Elaborate on this statement and highlight the important economic development of member countries within ASEAN.How does Singapore represent a special case within the ASEAN nations?

Accepted Answer

The answer of "Although the ASEAN countries are geographically close,they...

Question 12

What are some of the concerns if the European Union decides to sign a free trade agreement with the United States?

Accepted Answer

The answer of What are some of the concerns if...

Question 13

Coca-Cola had to delay launching its Powerade sports drink in Europe due to the lack of uniform food safety laws in the European Union.

Accepted Answer

Coca-Cola delayed the launch of its Powerade sports drink in Europe because of the lack of uniform food safety laws across the European Union, which made it challenging to introduce a new product consistently across different countries.

Question 14

The Gulf Cooperation Council (GCC)includes all of the following countries except:

Accepted Answer

Iraq is not a member of the Gulf Cooperation Council (GCC). The GCC is a regional intergovernmental political and economic union consisting of all Arab states of the Persian Gulf, except for Iraq. The member states are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

Question 15

The introduction of the euro by the EU resulted in multifaceted advantages,which include:

Accepted Answer

Elimination of costs associated with currency conversion is a multifaceted advantage of the introduction of the euro by the EU.

Question 16

Management strategic options pertaining to products that are facilitated by a single European market include:

Accepted Answer

The single European market allows for the standardization of packaging and labeling, consolidation of production, a shift from brand to benefit segmentation, and the seeking of marketing economies, making all of the options correct.

Question 17

Markets of Central and Eastern Europe present interesting opportunities and challenges.Companies such as 3M International,Philips Electronics,and Henkel are moving into the region for all of the following reasons except:

Accepted Answer

The correct answer is E because the other options (A, B, C, and D) are valid reasons for companies like 3M International, Philips Electronics, and Henkel to move into Central and Eastern Europe. These regions are seen as new sources of growth, offer the advantage of being the first mover, have lower wage rates compared to some Western European countries, and provide attractive locations for low-cost manufacturing. However, the need for changes in core products and Western brand names to be appropriate for business is not a reason to move into these markets; rather, it's a challenge that companies must address when they decide to enter these markets.

Question 18

In spite of forming an economic bloc,the 10 ASEAN nations have many problems that need to be resolved.Describe any two problems?

Accepted Answer

The answer of In spite of forming an economic bloc,the...

Question 19

The formation and enlargement of the European Union has a wide everlasting impact on marketing strategies and marketing mix.Discuss this giving example from member nations.

Accepted Answer

The answer of The formation and enlargement of the European...

Question 20

According to experts,mastering the Japanese market is considered a very difficult task.However,with the lucrative market in Japan,it is imperative to understand the intricacies in order to be successful in business.What are some of the factors that need to be considered by corporations that would like to conduct business in Japan?

Accepted Answer

The answer of According to experts,mastering the Japanese market is...

Quiz 3: The Global Trade Environment

________ is a key word(s) in conducting business in the Middle East.