International Business Ethics and Free Trade Agreements Quiz

Which regulatory body is responsible for privacy and fraud issues in the United States?

FTC (correct)

WHO

FDA

UNESCO

What is the primary goal of Priceline Distribution Considerations?

Regulate online marketing practices

Increase inefficiencies and redundancies

Reduce costs for businesses (correct)

Promote idea that smoking is bad

What type of products are milk, eggs, bread, and gas considered to be?

Specialty products

Unsought products

Convenience products (correct)

Shopping products

What type of intellectual property can the FTC regulate?

Copyrights Signup and view all the answers

Where are shopping products like appliances and electronics distributed?

Fewer retail outlets like Best Buy Signup and view all the answers

What is the main purpose of branding?

To identify a marketer's product as distinct Signup and view all the answers

Which of the following best describes the concept of a 'service' as a product?

A healthcare service Signup and view all the answers

Which type of brand is identified with the manufacturer on the packaging?

Manufacture brands Signup and view all the answers

What is the key feature of private distributor brands compared to manufacture brands?

They are undifferentiated Signup and view all the answers

Which branding policy involves naming each product differently to prevent negative influence on consumer decisions?

Individual branding Signup and view all the answers

What is the concept of brand extension?

Entering a new product category using an existing brand name Signup and view all the answers

What is the primary function of packaging in marketing?

Protect the product and maintain its form Signup and view all the answers

In new product development, what is the purpose of concept testing?

To seek buyers' responses to a product idea Signup and view all the answers

What is the last step in the new product development process before full-scale manufacturing?

Commercialization Signup and view all the answers

Which stage during commercialization involves introducing a product in stages, starting in one geographic area?

Rollout Signup and view all the answers

What is the key benefit of test marketing in new product development?

Measuring actual customer demand Signup and view all the answers

What is the purpose of the World Trade Organization (WTO)?

To promote free trade and establish rules for international commerce Signup and view all the answers

Which of the following is NOT a method of involvement in global marketing as mentioned in the text?

Foreign investment Signup and view all the answers

What does the Southern Common Market (MERCOSUR) consist of?

An alliance in South America Signup and view all the answers

Which trade pact merged the USA, Mexico, and Canada into a single market?

USMCA Signup and view all the answers

What is the primary purpose of franchising as a method in global marketing?

To expand business through licensing agreements Signup and view all the answers

What does the Asia-Pacific Economic Cooperation (APEC) consist of?

21 countries across the world Signup and view all the answers

Which method in global marketing involves hiring a foreign firm to produce a specified volume of a domestic firm's product?

Contract Manufacturing Signup and view all the answers

What is the primary benefit of a joint venture in global marketing?

Gaining legitimacy in the host country's citizens' eyes Signup and view all the answers

'Selling products at unfairly low prices' is known as:

'Dumping' Signup and view all the answers

What is the main difference between globalization and customization in marketing?

Customization expands across different regions and national markets. Signup and view all the answers