Match each item with the correct statement below.
-A standardized marketing mix with minimal modifications that a firm uses in all of its domestic and foreign markets is called a(n)_____.
A)exporting
B)WTO
C)infrastructure
D)exchange rate
E)tariff
F)import quota
G)dumping
H)ISO certification
I)foreign licensing
J)multinational corporation
K)global marketing strategy
L)multidomestic marketing strategy
M)countertrade
N)related party trade
O)exchange control
P)customs union
Q)CAFTA-DR
R)importer
S)embargo
T)franchise

Question

Quizplus · Accepted Answer

A standardized marketing mix with minimal modifications that a firm uses in all of its domestic and foreign markets is called a global marketing strategy.

Answer: L
 A marketing strategy that adapts a firm's marketing mix to meet the unique needs and preferences of different national markets is called a multidomestic marketing strategy.

Answer: M
 Countertrade is a type of international trade where goods or services are exchanged for other goods or services rather than for currency.

Answer: O
 Exchange control is a government policy that restricts or manages the exchange of a country's currency with foreign currencies.

Answer: Q
 CAFTA-DR is an agreement between the United States and Central American countries, as well as the Dominican Republic, aimed at reducing trade barriers.

Answer: T
 A franchise is an agreement in which one firm allows another to use its brand name, processes, and products for a fee or percentage of revenue.

Match Each Item with the Correct Statement Below