Question 1

Multidomestic industries do not need a global strategy because the focus should be on developing a series of distinct domestic strategies.

Accepted Answer

Multidomestic industries operate in multiple domestic markets each with unique cultural, legal, and economic factors. Therefore, they require localized strategies to address the specific needs of each market. A global strategy would not be effective in this case as it would overlook the differences across markets.

Question 2

A global industry is one in which a firm's ____________________ in one country is significantly influenced by its position in other countries.

Accepted Answer

The answer of A global industry is one in which...

Question 3

Options for entry into foreign markets range from exporting to global strategies. Explain how commitment,complexity,risk,and control changes as firms move across the spectrum of involvement in international marketing. What factors should firms consider when choosing entry modes?

Accepted Answer

The answer of Options for entry into foreign markets range...

Question 4

Joint ventures assume a very prominent role in the global strategy of many business marketing firms like Dow Chemical and Xerox. While offering significant benefits,joint ventures often fall short of expectations or dissolve. Why?

Accepted Answer

The answer of Joint ventures assume a very prominent role...

Question 5

While the location of the corporate headquarters is less important and may reflect historical factors,a firm must develop a clear home base for competing in each of its strategically distinct businesses. What role does a home base assume in forming a global strategy and what factors should be considered in choosing a location? Under what conditions might a firm create a home base for a different product line in another country?

Accepted Answer

The answer of While the location of the corporate headquarters...

Question 6

In China's steel industry,their main source of competitive advantage is due not to cheap labor,but rather massive government energy ____________________.

Accepted Answer

The answer of In China's steel industry,their main source of...

Question 7

The realized net savings after logistics costs,other management costs,and import duties involved in moving the product from the RDE to the market destination is referred to as ____________________costs.

Accepted Answer

The answer of The realized net savings after logistics costs,other...

Question 8

Multinational firms have traditionally managed operations outside their home country with ____________________ that permit individual subsidiaries to compete independently in their home country markets.

Accepted Answer

The answer of Multinational firms have traditionally managed operations outside...

Question 9

____________________offer a number of benefits,such as access to markets or technology,economies of scale in manufacturing and marketing,and the sharing of risk among partners.

Accepted Answer

The answer of ____________________offer a number of benefits,such as access...

Question 10

Additional insights into international strategy can be gained by examining two dimensions of competition in the global market:____________________and____________________.

Accepted Answer

The answer of Additional insights into international strategy can be...

Question 11

Rather than modifying the firm's product and service offerings from country to country,a global strategy requires a patient,long-term campaign to enter every significant foreign market while maintaining and leveraging the company's unique strategic positioning. Agree or disagree? Support your position.

Accepted Answer

The answer of Rather than modifying the firm's product and...

Question 12

Some experts emphasize that since customer needs are becoming increasingly homogeneous worldwide,the opportunity exists to sell the same type of product across countries and to use essentially the same marketing strategy around the globe. If customers respond favorably to a strategy in St. Louis,will the same strategy work in London or Tokyo? While a standardized approach might work for Coke or Levi's,will it work for business marketers like Dow Chemical or Hewlett-Packard? Explain.

Accepted Answer

The answer of Some experts emphasize that since customer needs...

Question 13

____________________involves sourcing a product from a producer located in a foreign country for sale there or in other countries.

Accepted Answer

The answer of ____________________involves sourcing a product from a producer...

Question 14

Rapidly developing economies (RDEs)are having a significant impact on the global economy,both as attractive new markets but also as new competitors for firms in highly developed economies. Explain the three forms of competitive advantage that firms can achieve by moving operations to and marketing in RDEs. What products or services make the most sense to relocate to RDEs?

Accepted Answer

The answer of Rapidly developing economies (RDEs)are having a significant...

Question 15

An industrial firm's first foray into an overseas market usually involves____________________because it requires the least commitment and risk.

Accepted Answer

The answer of An industrial firm's first foray into an...

Question 16

To diagnose the sources of competitive advantage,domestic or international,Michael Porter divides the chain of activities performed by a firm into distinct groups. Describe Porter's value chain concept and explore its relevance to international strategy.

Accepted Answer

The answer of To diagnose the sources of competitive advantage,domestic...

Question 17

The primary reason that companies are moving to sourcing from Rapidly Developing Economies is due to very large and sustainable ____________________ from lower operating costs and lower capital investment requirements.

Accepted Answer

The answer of The primary reason that companies are moving...

Quiz 6: Business Marketing Strategies for Global Markets