Question 1

A country's communications, transportation, financial, and distribution systems are considered to be its

Accepted Answer

Economic infrastructure refers to the fundamental facilities and systems serving a country, including communications, transportation, financial, and distribution systems.

Question 2

Consumer ethnocentrism refers to

Accepted Answer

Consumer ethnocentrism is the belief that it is inappropriate or immoral to purchase foreign-made products, often due to a sense of national pride or loyalty to domestic products.

Question 3

A New York car wash owner wanted to open a car wash in Quebec, Canada. He hired a U.S. translator to create signage for the new venture and to design some simple advertising. It was not until the business was opened that he realized he should have used ________. His French signs actually said "car bath" instead of "car wash."

Accepted Answer

Back translation involves translating a document back into the original language by a different translator to ensure accuracy and that the intended meaning is preserved. This would have helped avoid the error in translation.

Question 4

Two-thirds of the commercial transactions in Russia involve nonmonetary forms of payment due to limits in formal operating procedures among financial institutions and even limits on the notion of private property there. These would best be described as constraints in the country's

Accepted Answer

The answer of Two-thirds of the commercial transactions in Russia...

Question 5

The belief that aspects of one's culture are superior to another's is referred to as

Accepted Answer

Cultural ethnocentricity is the belief that one's own culture is superior to others.

Question 6

If you were responsible for marketing communications at a company that manufactures office supplies and had to provide product literature to be distributed in France, you would be wise to use ________, whereby you have someone translate your literature from American English into French, and then have someone else in France translate the French into American English.

Accepted Answer

Back translation is a method used to ensure accuracy in translation by translating a document into another language and then translating it back to the original language to check for consistency and errors.

Question 7

________ is the tendency to believe that it is inappropriate, indeed immoral, to purchase foreign-made products.

Accepted Answer

Consumer ethnocentrism is the belief that it is inappropriate or immoral to purchase foreign-made products, as it reflects a preference for domestic goods.

Question 8

Currency exchange rate refers to

Accepted Answer

Currency exchange rate is the price of one country's currency expressed in terms of another country's currency, determining how much of one currency can be exchanged for another.

Question 9

In Detroit, a woman came back from lunch to find a nasty note on her Toyota Camry about failing to support the American economy in purchasing her vehicle. The person who left the note is exhibiting

Accepted Answer

The person who left the note is exhibiting consumer ethnocentrism, which is the belief that purchasing foreign-made products is wrong because it is unpatriotic and harms the domestic economy.

Question 10

The price of one country's currency expressed in terms of another country's currency is referred to as the

Accepted Answer

The currency exchange rate is the price of one country's currency expressed in terms of another country's currency.

Question 11

Foreign countries with very low per capita incomes may still be attractive markets for some goods. To get a more reliable picture of a country's purchasing power, a country's ________ must also be considered.

Accepted Answer

Income distribution is a measure of how evenly income is distributed among the population of a country. It is an important factor to consider when assessing a country's purchasing power, as it can give a more accurate picture of the number of people who have the ability to purchase goods.

Question 12

Which of the following is an important indicator of a nation's increasing purchasing power?

Accepted Answer

A growing proportion of middle-income households indicates that more people have disposable income, which suggests an increase in overall purchasing power within the nation.

Question 13

Fluctuations in the ________ among the world's currencies have a direct impact on the sales and profits made by global companies.

Accepted Answer

Exchange rates affect the value of sales and profits when converted between different currencies, impacting global companies' financial performance.

Question 14

A global marketer selling consumer products and services must also consider what the ________ is among a country's consumers and how income is distributed to determine a nation's purchasing power.

Accepted Answer

Per capita income is a measure of the average income earned per person in a given area, which helps marketers understand the purchasing power of consumers in that area.

Question 15

Since global marketing is affected by economic considerations, a scan of the global marketplace should include which of the following factors?

Accepted Answer

Currency exchange rates are a crucial economic factor that can significantly impact global marketing strategies, affecting pricing, profitability, and competitiveness in the international market.

Question 16

A country's income distribution is important because it gives a more reliable picture of a country's ________ than just per capita income alone.

Accepted Answer

Income distribution provides insight into the purchasing power of different segments of the population, which per capita income alone may not accurately reflect.

Question 17

A Tokyo shopkeeper would have been wise to use ________ to verify the accuracy of the new sign in English he purchased for his dry cleaning business. The sign read, "Drop your pants here for best results," which he did not know had another suggestive meaning to native speakers.

Accepted Answer

Back translation involves translating a text back into the original language to check for accuracy and unintended meanings, which would have helped identify the suggestive meaning in the sign.

Question 18

In Latvia, only one six-lane highway exists, connecting Riga, its capital, with Moscow. Otherwise, the roads are two lanes and many are made of cobblestones or bricks. This limits the speed with which deliveries can be made and requires that delivery trucks be quite small. The road network in Latvia is an example of problems with a country's

Accepted Answer

The road network in Latvia, characterized by limited high-capacity highways and many two-lane roads, reflects issues with the country's economic infrastructure, which affects transportation efficiency and logistics.

Question 19

Generally, as the proportion of middle-income households in a country increases, the nation's purchasing power

Accepted Answer

As the proportion of middle-income households increases, the nation's purchasing power typically increases because middle-income households generally have more disposable income to spend on goods and services, boosting overall economic activity.

Question 20

Economic infrastructure is

Accepted Answer

Economic infrastructure refers to the fundamental facilities and systems serving a country, including communications, transportation, financial, and distribution systems, which are essential for economic activity.

Quiz 7: Understanding and Reaching Global Consumers and Markets