International Marketing Chapter 1

<p>Flexibility is essential for survival in unpredictable international markets. (A)</p> Signup and view all the answers

<p>Tariffs (C)</p> Signup and view all the answers

<p>To protect domestic markets from foreign competition. (D)</p> Signup and view all the answers

<p>To exploit the growing U.S. market (B)</p> Signup and view all the answers

<p>Businesses can prioritize domestic customers over international ones. (C)</p> Signup and view all the answers

<p>A tax based on the percentage of the value of imported goods. (B)</p> Signup and view all the answers

<p>U.S. companies are increasingly being controlled by or merging with foreign companies. (A)</p> Signup and view all the answers

<p>Improved balance of payments. (B)</p> Signup and view all the answers

<p>It provides access to new markets and opportunities for growth. (D)</p> Signup and view all the answers

<p>To restrict the quantity of imported goods. (B)</p> Signup and view all the answers

<p>To increase competition in domestic markets. (D)</p> Signup and view all the answers

<p>Tariffs are a tax, while quotas are a limit on quantity. (C)</p> Signup and view all the answers

<p>Quotas (A)</p> Signup and view all the answers

<p>The unconscious reference to one's own cultural values, experiences, and knowledge as a basis for a decision. (A)</p> Signup and view all the answers

<p>Identifying the cultural values of the target market and incorporating them into the marketing plan. (C)</p> Signup and view all the answers

<p>By understanding cultural differences and using that knowledge to relate effectively. (D)</p> Signup and view all the answers

<p>Foreign uncontrollables are external factors, while the SRC is an internal bias. (A)</p> Signup and view all the answers

<p>Adapting marketing strategies to environmental differences. (C)</p> Signup and view all the answers

<p>The level of technology in the target market. (C)</p> Signup and view all the answers

<p>The notion that people in one's own company, culture, or country know best how to do things. (B)</p> Signup and view all the answers

<p>To identify and overcome cultural biases in decision-making. (B)</p> Signup and view all the answers

<p>A system where a country's currency is manipulated by the government to influence its value. (B)</p> Signup and view all the answers

<p>The World Bank provides investors with guarantees against 'non-commercial risk,' which encourages them to invest in developing countries. (B)</p> Signup and view all the answers

<p>A currency exchange system where a country's currency is allowed to fluctuate freely without government intervention. (B)</p> Signup and view all the answers

<p>The Chinese government's crackdown on the opium trade. (B)</p> Signup and view all the answers

<p>Regulating and controlling international trade between developing countries. (B)</p> Signup and view all the answers

<p>To facilitate the settlement of international trade and reduce exchange rate fluctuations. (D)</p> Signup and view all the answers

<p>Cultures are constantly evolving and adjusting to internal and external pressures. (D)</p> Signup and view all the answers

<p>It signaled the weakening of Chinese sovereignty and the beginning of unequal treaties with Western powers. (A)</p> Signup and view all the answers

<p>Consultation (D)</p> Signup and view all the answers

<p>To regulate foreign exchange rates and promote international trade (A)</p> Signup and view all the answers

<p>GATT focuses on tariffs, while WTO covers a wider range of trade issues (C)</p> Signup and view all the answers

<p>To help US businesses adjust to increased competition from imports (D)</p> Signup and view all the answers

<p>Environmental regulations (C)</p> Signup and view all the answers

<p>It has become more responsive to the needs of exporters (B)</p> Signup and view all the answers

<p>Trade should be conducted on a non-discriminatory basis (A)</p> Signup and view all the answers

<p>By enforcing the agreements made by member countries (A)</p> Signup and view all the answers

<p>To ensure the economic stability and financial obligations of Latin American countries. (D)</p> Signup and view all the answers

<p>Expropriation usually involves compensation for the seized investment, though not always full reimbursement. (D)</p> Signup and view all the answers

<p>An examination of the country's historical and cultural context. (D)</p> Signup and view all the answers

<p>Population density. (A)</p> Signup and view all the answers

<p>All of the above. (D)</p> Signup and view all the answers

<p>They limit economic growth and trade opportunities. (B)</p> Signup and view all the answers

<p>Industrialization leads to increased pollution and resource depletion due to rapid expansion. (A)</p> Signup and view all the answers

<p>They are disproportionately affected by natural and human-caused disasters. (D)</p> Signup and view all the answers

The promotion of products or services in multiple countries.

Markets are often unpredictable and require adaptability.

Building strong relationships helps manage market fluctuations.

An international body that regulates trade agreements globally.

Increasing acceptance of free market principles in developing nations.

Technological advancements dissolve national borders in trade.

Businesses must compete in a linked global economy.

U.S. companies face competition from both domestic and international businesses.

Restrictions that inhibit goods from entering foreign markets.

A list of products that require licenses for export.

Remedies provided to US businesses harmed by imports.

General Agreement on Tariffs and Trade, a foundational trade agreement post-WWII.

World Trade Organization, formed to manage trade disputes and expand GATT's scope.

Trade conducted without favoritism towards specific countries.

International Monetary Fund, helps nations maintain economic stability.

A group assisting countries in economic development and restructuring.

The use of legal and psychological barriers to restrict imports.

Government restrictions are maintained for various reasons, like protecting local industries and jobs.

Restrictions other than tariffs on imports, like quotas and health standards.

A tax imposed on imported goods to protect local markets or generate revenue.

Duties based on a percentage of the value of imported goods.

A fixed fee applied per unit weight or measure of quantity on imports.

A limit set on the quantity or dollar amount of a specific good that can be imported.

Tariffs can increase inflation and limit supply and consumer choices.

Factors in foreign markets that a business cannot control, such as political forces and economic climate.

An unconscious reference to one’s own cultural values when making decisions.

The belief that one's own culture or country knows best how to do things.

A process to recognize and mitigate SRC influence in international problems.

Being aware and understanding cultural differences and worldwide trends.

The ability to understand and accept different cultural behaviors.

Adjusting marketing strategies based on cultural influences in different markets.

Seeking insight from local people to understand cultural nuances.

A financial instrument representing value from major currencies, used in trade to reduce exchange rate risk.

A currency system where exchange rates fluctuate naturally without manipulation by the government.

A currency system where a government actively influences its exchange rate through manipulation.

The various ways the World Bank supports developing countries, including loans and technical assistance.

A concept that reflects how history and geography shape a society's cultural values and economic activities.

A conflict between China and Britain (1839-1842) driven by the opium trade, impacting China's sovereignty.

The 1842 treaty that ended the First Opium War, imposing unequal terms on China and affecting its future relationships.

Policy extension of the Monroe Doctrine asserting U.S. intervention in Latin America.

Seizure of an investment by a government with compensation to the owner.

Variation in climate and topography affecting a country's economic profile.

Climatic features that influence product performance and requirements.

Countries with few resources struggle more during natural disasters.

Different seasons in northern and southern hemispheres impact global strategies.

Natural features that impede economic growth and trade.

Environmental issues rise as industrialization accelerates globally.