Podcast
Questions and Answers
________ is the performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit.
________ is the performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit.
- International marketing (correct)
- Global strategy
- Marketing
- Regional marketing concept
- Marketing concept
Which of the following is the most critical difference between domestic marketing and international marketing?
Which of the following is the most critical difference between domestic marketing and international marketing?
- The different concepts of marketing
- The change in marketing goals
- The change in corporate objectives
- The difference in technological standards
- The environment in which marketing plans must be implemented (correct)
Which of the following is the reason why Dylan's task could be more complicated than that of the domestic marketer?
Which of the following is the reason why Dylan's task could be more complicated than that of the domestic marketer?
- The international marketer must deal with at least two levels of uncontrollable uncertainty instead of one. (correct)
- Lack of competent skills makes effective service a major challenge.
- International trade regulations still do not allow free trade in most markets across the globe.
- Technological standardization could challenge effective customization in different markets.
- The international marketer must change his marketing goals in the various countries of operation.
Which of the following would be considered to be an uncontrollable element in the foreign environment?
Which of the following would be considered to be an uncontrollable element in the foreign environment?
Such elements as geography and infrastructure, structure of distribution, and cultural forces are part of which of the following international marketing task environments?
Such elements as geography and infrastructure, structure of distribution, and cultural forces are part of which of the following international marketing task environments?
Which of the following is NOT true of the impact of culture?
Which of the following is NOT true of the impact of culture?
Which of the following factors includes the decision-making factor in Rita's international marketing task?
Which of the following factors includes the decision-making factor in Rita's international marketing task?
The _____ and issues abroad are often amplified by the 'alien status' of the company.
The _____ and issues abroad are often amplified by the 'alien status' of the company.
The task of _____ is the most challenging and important one confronting international marketers.
The task of _____ is the most challenging and important one confronting international marketers.
Which of the following best explains the difficulty Philippe is experiencing in marketing his line of Philippine cabinetry in Los Angeles?
Which of the following best explains the difficulty Philippe is experiencing in marketing his line of Philippine cabinetry in Los Angeles?
_____ is generally a problem when managers from affluent countries work with managers and markets in less-affluent countries.
_____ is generally a problem when managers from affluent countries work with managers and markets in less-affluent countries.
The primary obstacles to success in international marketing are a person's _____ and an associated ethnocentrism.
The primary obstacles to success in international marketing are a person's _____ and an associated ethnocentrism.
The most effective way to control the influence of ethnocentrism and the SRC is to:
The most effective way to control the influence of ethnocentrism and the SRC is to:
Ajax is probably in the _____ stage of international marketing involvement.
Ajax is probably in the _____ stage of international marketing involvement.
Randy's firm is at which of the following stages of international marketing involvement?
Randy's firm is at which of the following stages of international marketing involvement?
Which of the following is true of marketing mix standardization?
Which of the following is true of marketing mix standardization?
Local government restraints can be disregarded when creating marketing strategies.
Local government restraints can be disregarded when creating marketing strategies.
What is product positioning?
What is product positioning?
There are more costs incurred by exporting than selling domestically.
There are more costs incurred by exporting than selling domestically.
A company can usually get away with charging the same price both domestically and internationally.
A company can usually get away with charging the same price both domestically and internationally.
Consumers generally begin shopping across borders when price differences reach ____%.
Consumers generally begin shopping across borders when price differences reach ____%.
Which of the following was the main objective of the American efforts to improve world trade by fostering economic growth in Europe and the underdeveloped world after World War II?
Which of the following was the main objective of the American efforts to improve world trade by fostering economic growth in Europe and the underdeveloped world after World War II?
In addition to U.S. economic assistance, _____ was a significant move toward international cooperation among trading nations.
In addition to U.S. economic assistance, _____ was a significant move toward international cooperation among trading nations.
The _____, part of the American effort to infuse the ideal of capitalism throughout as much of the world as possible, was aimed at assisting in rebuilding Europe.
The _____, part of the American effort to infuse the ideal of capitalism throughout as much of the world as possible, was aimed at assisting in rebuilding Europe.
_____ refers to the system of accounts that records a nation's international financial transactions.
_____ refers to the system of accounts that records a nation's international financial transactions.
Which of the following is true regarding balance-of-payments records?
Which of the following is true regarding balance-of-payments records?
Which of the following would be the balance-of-payments account that is a record of all merchandise exports, imports, and services plus unilateral transfers of funds?
Which of the following would be the balance-of-payments account that is a record of all merchandise exports, imports, and services plus unilateral transfers of funds?
A(n) _____ is simply a tax imposed by a government on goods entering at its borders.
A(n) _____ is simply a tax imposed by a government on goods entering at its borders.
In general, tariffs restrict:
In general, tariffs restrict:
Which of the following types of nontariff barriers would be considered to be 'specific limitations on trade' by international marketers?
Which of the following types of nontariff barriers would be considered to be 'specific limitations on trade' by international marketers?
Exporting countries sometimes agree to voluntary export restraints (VER) as an alternative to the threat of:
Exporting countries sometimes agree to voluntary export restraints (VER) as an alternative to the threat of:
Which of the following trade policy tools require the importers who want to buy a foreign good to apply for an exchange permit?
Which of the following trade policy tools require the importers who want to buy a foreign good to apply for an exchange permit?
_____ is the practice whereby a foreign producer intentionally sells their products in the United States for less than the cost of production to undermine the competition and take control of the market.
_____ is the practice whereby a foreign producer intentionally sells their products in the United States for less than the cost of production to undermine the competition and take control of the market.
Which section of the Omnibus Trade and Competitiveness Act recognizes that foreign penetration of U.S. markets can cause serious competitive pressure?
Which section of the Omnibus Trade and Competitiveness Act recognizes that foreign penetration of U.S. markets can cause serious competitive pressure?
Which was the most notable achievement of the Uruguay Round of GATT negotiations?
Which was the most notable achievement of the Uruguay Round of GATT negotiations?
The five institutions of the World Bank Group perform all the following services EXCEPT:
The five institutions of the World Bank Group perform all the following services EXCEPT:
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Study Notes
International Marketing Fundamentals
- International marketing involves planning, pricing, promoting, and distributing goods and services across national borders for profit.
- The critical distinction between domestic and international marketing is the environmental complexity of implementing marketing plans in multiple countries.
Uncontrollable Elements in Marketing
- Economic forces represent uncontrollable elements influencing international marketing.
- Foreign environments include geography, infrastructure, distribution structures, and cultural factors as uncontrollable elements impacting marketing strategy.
Cultural Impact on Marketing
- Cultural influences often affect marketers' behaviors, leading to automatic reactions without conscious awareness.
- Self-reference criterion (SRC) can hinder effective marketing in foreign markets, as marketers may rely on familiar home country models that do not translate well.
International Marketing Involvement Stages
- Companies may proceed through several stages of international marketing involvement, from no direct foreign marketing to regular foreign marketing.
- "Infrequent global marketing" arises when firms sell to foreign markets as opportunities arise, lacking continuous international representation.
Standardization vs. Adaptation
- Standardizing the marketing mix can reduce costs associated with marketing but complicates the marketer's role in adapting to local conditions.
- Local government regulations must be considered when formulating marketing strategies.
Pricing and Economic Considerations
- Companies typically incur higher costs when exporting goods compared to domestic sales.
- Consumers start shopping internationally when price differences reach a threshold of approximately 20%.
Historical Context of International Trade
- The U.S. aimed to dampen communism's spread post-World War II by fostering economic growth in Europe through programs like the Marshall Plan.
- The General Agreement on Tariffs and Trade (GATT) facilitated international cooperation and trade between nations.
Balance of Payments and Tariffs
- The balance of payments records a nation's international financial transactions and helps assess economic health.
- Tariffs are government-imposed taxes that restrict access to foreign markets and can affect manufacturers' supply sources.
Non-Tariff Barriers to Trade
- Non-tariff barriers include embargoes and voluntary export restraints, which pose specific limitations on international trade.
- Governments may require exchange permits for importing certain goods, affecting trade flows.
Competitive Practices
- Predatory pricing involves foreign producers selling products below production costs to undermine local competition.
- Awareness of market dynamics and policies like the import relief section of the Omnibus Trade and Competitiveness Act is crucial for avoiding adverse competitive pressures.
World Trade Organization (WTO)
- The WTO emerged from the Uruguay Round of GATT negotiations, marking a significant achievement in global trade governance.
- The World Bank Group supports developing countries through loans for projects in education, health, and infrastructure, among other financial services.
Conclusion
- Understanding these key concepts in international marketing is crucial for successfully navigating the complexities of global business environments and effectively reaching diverse markets.
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