Global Business Strategies Quiz PDF

Question 1 10 / 10 pts What is one of the most dynamic trends that is affecting current global business strategies? the trend toward providing aid to developing and less developed nations the trend toward buying American cars in Europe the trend toward establishing a world currency the trend t...

Question 1 10 / 10 pts What is one of the most dynamic trends that is affecting current global business strategies? the trend toward providing aid to developing and less developed nations the trend toward buying American cars in Europe the trend toward establishing a world currency the trend towards using English as the global language - the trend toward the acceptance of the free market system among developing countries Of all the events and trends affecting global business today, four stand out as the most dynamic, the ones that will influence the shape of international business beyond today\'s \"bumpy roads\" and far into the future: (1) the rapid growth of the World Trade Organization and regional free trade areas such as the North American Free Trade Area and the European Union; (2) the trend toward the acceptance of the free market system among developing countries in Latin America, Asia, and eastern Europe; (3) the burgeoning impact of the Internet, mobile phones, and other global media on the dissolution of national borders; and (4) the mandate to manage the resources and global environment properly for the generations to come. Question 2 10 / 10 pts How has globalization impacted domestic markets in the United States? - Multinational manufacturing companies in all industries and sizes have outperformed their domestic counterparts. Companies with only domestic markets have been able to sustain their customary rates of growth. Multinational companies are making more profits from their domestic operations compared to their earnings from the foreign markets. Only multinational companies with large production facilities have outperformed their strictly domestic U.S. counterparts. The domestic companies have reduced their manufacturing employment more than U.S. multinationals. Companies with only domestic markets have found increasing difficulty in sustaining their customary rates of growth, and many are seeking foreign markets in which to expand. Companies with foreign operations find that foreign earnings are making an important overall contribution to total corporate profits. Multinationals of all sizes and in all industries outperformed their strictly domestic U.S. counterparts. Furthermore, U.S. multinationals reduced their manufacturing employment, both at home and abroad, more than domestic companies. Question 3 10 / 10 pts What is an uncontrollable element for an international marketer? channels-of-distribution - level of technology firm characteristics price research The uncontrollable elements of the foreign environment are political/legal forces, economic forces, competitive forces, level of technology, structure of distribution, geography and infrastructure, and cultural forces. Refer to Exhibit 1.3 The International Marketing Task. Question 4 10 / 10 pts For an international marketer, the \_\_\_\_\_\_\_\_ can be altered in the long run and, usually, in the short run to adjust to changing market conditions, consumer tastes, or corporate objectives. competitive structure controllable elements economic climate structure of distribution - environmental factors The controllable elements can be altered in the long run and, usually, in the short run to adjust to changing market conditions, consumer tastes, or corporate objectives. The controllable elements include product, price, promotion, distribution, and research activities. Question 5 0 / 10 pts Which political action is most likely to favor international marketing? the U.S. government coupling human rights issues with foreign trade policy the U.S. government placing a trade ban on Libya owing to rampant terrorism South Africa abolishing apartheid and the U.S. lifting the embargo - placing trade embargoes on Cuba owing to widespread political instability in the country tariff hike for imports established by China A political decision involving foreign policy can have a direct effect on a firm\'s international marketing success. Conversely, positive effects occur when changes in foreign policy offer countries favored treatment. Question 6 10 / 10 pts Which global marketing strategy costs businesses more money to implement? global standardization - global adaptation Global standardization uses one product - one message versus global marketing adaption is a variation of a company\'s product/services requires a company to change the marketing mix costing the company more money to implement. Question 7 10 / 10 pts Which market entry strategy is the highest financial commitment, risk and marketing control? Joint Venture Exporting Licensing - Direct Investment Franchising See Instructor Lecture Ch 1 Market Entry Strategies PP\_Slide. Question 8 10 / 10 pts Using the research link provided in the Instructor Lecture Ch 1 to the Bureau of Economic Analysis, which country or region has the highest dollar amount of investment in the U.S.? Asia - Europe China Africa Australia Question 9 10 / 10 pts Compared to the foreign environment variables, which of the following uncontrollable variables is least likely to affect a domestic marketer? competitive structure - cultural forces legal forces economic climate political forces Cultural forces are not included as an uncontrollable element for the domestic marketer, while they constitute an uncontrollable element for the international marketer. Question 10 10 / 10 pts Adaptation on the part of an international marketer is best described as the notion that people in one\'s own company or country know best how to do things. a conscious effort to make themselves aware of the home cultural reference in their analyses and decision making. an unconscious reference to one\'s own cultural values, experiences, and knowledge as a basis for decisions and then to adjust the marketing mix in order to closely reflect these decisions. the process of identifying the similarities that exists between the domestic and foreign markets. - a conscious effort to anticipate the influences of both the foreign and domestic uncontrollable factors on a marketing mix and then to adjust the marketing mix to minimize the effects. Adaptation is a conscious effort on the part of an international marketer to anticipate the influences of both the foreign and domestic uncontrollable factors on a marketing mix and then to adjust the marketing mix to minimize the effects.