Chapter 15

Chapter 15 : The Global Marketplace
1.
________ industries are safe from foreign competition.
A.
Most
B.
Major
C.
Few
D.
NAFTA
E.
European Union
C
Page Ref: 509
Skill: Application
AACSB:
Objective: 15-1
2.
As global trade is growing, global competition is ________.
A.
leveling off
B.
declining
C.
erratic
D.
intensifying
E.
contracting
D
Page Ref: 509
Skill: Concept
AACSB:
Objective: 15-1
3.
Firms that play it safe and do not enter the global market are likely to lose their chances to enter other markets ________.
A.
but achieve more stability at home
B.
but gain a competitive edge in their home markets
C.
but successfully shield themselves from foreign competition
D.
and risk losing their home markets
A and B
E.
D
Page Ref: 509
Skill: Concept
AACSB:
Objective: 15-1
4.
A ________ is one that, by operating in more than one country, contains marketing, production, research and
development, and financial advantages that are not available to purely domestic competitors.
A.
global firm
B.
global industry
C.
whole-channel view
D.
direct investment
E.
free trade zone
A
Page Ref: 509
Skill: Concept
AACSB:
Objective: 15-1
5.
Which of the following is NOT one of the major decisions a company faces in international marketing?
A.
deciding which markets to enter
B.
deciding how to enter the market
C.
deciding on evaluation tools for direct investors
D.
deciding on the global marketing program
E.
looking at the global marketing environment
C
Page Ref: 510
Skill: Concept
AACSB:
Objective: 15-1
6.
Of the following, a company should make which major decision about international marketing first?
A.
B.
C.
deciding on the global marketing organization
D.
E.
A
Page Ref: 510
Skill: Concept
AACSB:
Objective: 15-1
7.
A(n) ________ is a tax levied by a government against certain imported products in order to protect domestic firms.
A.
embargo
B.
tariff
C.
export
D.
exchange control
E.
quota
B
Page Ref: 510
Skill: Concept
AACSB:
Objective: 15-1
8.
A(n) ________ is a limit on the amount of goods that an importing country will accept in certain product categories.
A.
embargo
B.
tariff
C.
benchmark
D.
quota
E.
exchange control
D
Page Ref: 510
Skill: Concept
AACSB:
Objective: 15-1
9.
A(n) ________ serves to limit the amount of foreign exchange and the exchange rate against other currencies.
A.
trade system
B.
tariff
C.
quota
D.
exchange control
E.
nontariff trade barrier
D
Page Ref: 510
Skill: Concept
AACSB:
Objective: 15-1
10.
Bias against bids made by American companies is an example of a(n) ________.
A.
quota
B.
tariff
C.
boycott
D.
nontariff trade barrier
E.
exchange control
D
Page Ref: 511
Skill: Concept
AACSB: Multicultural and Diversity
Objective: 15-1
11.
Which of the following is designed to help foster trade between nations?

A.
tariffs
B.
GATT
C.
exchange controls
D.
quotas
E.
nontariff trade barriers
B
Page Ref: 511
Skill: Concept
AACSB:
Objective: 15-1
12.
The ________ is a 61-year-old treaty designed to promote world trade by reducing tariffs and other international trade
barriers.
A.
WTO
B.
GATT
C.
EU
D.
CAN
E.
NAFTA
B
Page Ref: 511
Skill: Concept
AACSB:
Objective: 15-1
13.
Concluding in 1994, the Uruguay Round reduced trade barriers, set international standards for trade, and established the
________ to enforce GATT rules.
A.
WTO
B.
EU
C.
NAFTA
D.
CAFTA
CAN
E.
A
Page Ref: 511
Skill: Concept
AACSB:
Objective: 15-1
14.
Which of the following reduced the world's merchandise tariffs by 30 percent, toughened international protection of
copyrights and trademarks, and has been extended to cover trade in agriculture and a wide range of services?
A.
GATT
B.
EU
C.
NAFTA
D.
CAFTA
E.
FTAA
A
Page Ref: 511
Skill: Concept
AACSB: Ethical Reasoning
Objective: 15-1
15.
Economic communities are also known as ________.
A.
global firms
B.
free trade zones
C.
management communities
D.
production communities
E.
open channels
B
Page Ref: 511
Skill: Concept
AACSB:
Objective: 15-1
16.
________ is a group of nations organized to work toward common goals in the regulation of international trade.
A.
A joint venture
B.
A standardized marketing mix
C.
An economic community
D.
A global firm
E.
A multinational enterprise
C
Page Ref: 511
Skill: Concept
AACSB:
Objective: 15-1
17.
The European Union is an example of a(n) ________.
A.
non-barrier zone
B.
open economic area
C.
economic community
D.
barter organization
E.
world trade organization
C
Page Ref: 511
Skill: Concept
AACSB:
Objective: 15-1
18.
Which of the following is true regarding economic communities?
A.
Trade barriers have increased between the United States and Mexico since NAFTA was created.
B.
Tariffs are typically lower or nonexistent between countries in the community.
C.
UNASUR represents the world's single largest market.
D.
Converting European currencies into the euro has been a failure.
E.
CAFTA has been less successful than UNASUR.
B
Page Ref: 511-512
Skill: Concept
AACSB:
Objective: 15-1
19.
Through the ________, lower barriers inside Europe may create thicker outside walls, making it more difficult for nonEuropean countries to trade with European countries.
A.
European Union
B.
Euro-Scandinavian Pact
C.
Euro-American Union
D.
Atlantic Free-Trade Area
E.
General Agreement on Tariffs and Trade
A
Page Ref: 512
Skill: Concept
Objective: 15-1
20.
Which of the following is an advantage created by the adoption of the euro?
A.
Countries outside of Europe no longer face trade obstacles within Europe.
B.
European countries with previously weak currencies are more attractive markets.
C.
It has decreased the annual combined GDP.
D.
A homogeneous European market has been created.
E.
It is the last step necessary for the countries of Europe to act like a single entity.
B
Page Ref: 512
Skill: Concept
AACSB:
Objective: 15-1
21.
In January 1994, ________ established a free trade zone among the United States, Canada, and Mexico.
A.
GATT
B.
WTO
C.
NAFTA
D.
EU
E.
CAFTA-DR
C
Page Ref: 512
Skill: Concept
Objective: 15-1
22.
Given the apparent success of NAFTA, talks have been underway since 1994 to establish an even larger free trade zone
called ________. This zone would include 34 countries stretching from the Bering Strait to Cape Horn.
A.
CAFTA-DR
B.
WTO
C.
FTAA
D.
CAN
E.
AATF
C
Page Ref: 512
Skill: Concept
Objective: 15-1
23.
In 2005, the ________ established a free trade zone between the United States and Costa Rica, the Dominican Republic, El
Salvador, Guatemala, Honduras, and Nicaragua.
A.
CAFTA-DR
B.
FTAA
C.
CAN
NAFTA
EU
D.
E.
A
Page Ref: 512
Skill: Concept
Objective: 15-1
24.
The free trade area in Latin and South America known as ________ makes up the largest trading block after NAFTA and
the European Union.
A.
CAFTA
B.
FTAA
C.
UNASUR
D.
MCAN
E.
GATT
C
Page Ref: 512
Skill: Concept
Objective: 15-1
25.
The two key economic factors reflecting a country's attractiveness as a market are its industrial structure and its ________.
A.
communication adaptation
B.
nontariff trade barriers
C.
exchange controls
D.
income distribution
E.
transportation systems
D
Page Ref: 512
Skill: Concept
AACSB:
Objective: 15-1
26.
In a(n) ________, the vast majority of people engage in simple agriculture and consume most of their output.
A.
raw material economy
B.
subsistence economy
C.
industrializing economy
D.
emerging economy
E.
industrial economy
B
Page Ref: 512
Skill: Concept
Objective: 15-1
27.
________ are major exporters of manufactured goods, services, and investment funds. They trade goods among
themselves and export them to other types of economies for raw materials and semifinished goods.
A.
Material economies
B.
Subsistent economies
C.
Industrializing economies
D.
Industrial economies
E.
Developing economy
D
Page Ref: 513
Skill: Concept
Objective: 15-1
28.
In a(n) ________ economy, fast growth in manufacturing results in rapid overall economic growth. This type of economy
typically has a new rich class and a small but growing middle class, both demanding new types of imported goods.
A.
industrial
B.
industrializing
C.
materials exporting
D.
subsistence
E.
agrarian
B
Page Ref: 513
Skill: Concept
Objective: 15-1
29.
A(n) ________ economy is poor in some ways but rich in one or more natural resources responsible for creating most of its
exporting revenue.
A.
industrial
B.
industrializing
C.
raw-material exporting
D.
subsistence
E.
agrarian
C
Page Ref: 513
Skill: Concept
Objective: 15-1
30.
Very few market opportunities are available in a(n) ________ economy.
A.
subsistence
B.
raw material exporting
C.
industrializing
D.
emerging
E.
industrial
A
Page Ref: 513

Skill: Concept
Objective: 15-1
31.
Industrializing economies include all of the following EXCEPT ________.
A.
Russia
B.
India
C.
Brazil
D.
Sweden
E.
China
D
Page Ref: 513
Skill: Concept
Objective: 15-1
32.
Which of the following types of economies is most likely to have significant numbers of low-income, medium-income, and
high-income households?
A.
subsistence economy
B.
raw material exporting economy
C.
agrarian economy
D.
industrial economy
E.
emerging economy
D
Page Ref: 513
Skill: Concept
Objective: 15-1
33.
Of the following, countries with ________ economies are most likely to consist mostly of households with very low family
incomes.
industrial
A.
B.
industrializing
C.
service
D.
technological
E.
subsistence
E
Page Ref: 513
Skill: Concept
Objective: 15-1
34.
At least four political-legal factors should be considered in deciding whether to do business in a given country. Which is
NOT one of these factors?
A.
attitudes toward international buying
B.
government bureaucracy
C.
diversity of religions practiced by the population
D.
monetary regulations
E.
political stability
C
Page Ref: 514
Skill: Concept
Objective: 15-1
35.
In international trade, it is ideal if the buyer can pay in ________.
A.
countertrade
B.
the seller's currency
C.
barter
D.
the buyer's currency
E.
the euro
B
Page Ref: 514
Skill: Concept
AACSB:
Objective: 15-1
36.
Sellers might accept a ________, one whose removal from the country is restricted by the buyer's government, if they can
buy other goods in that country that they need themselves or can sell elsewhere for a needed currency.
A.
blocked currency
B.
counterpurchase
C.
barter
D.
quota
E.
tariff
A
Page Ref: 514
Skill: Concept
AACSB:
Objective: 15-1
37.
Which of the following involves the direct exchange of goods or services, rather than the exchange of goods or services for
a monetary value?
A.
barter
B.
quota
C.
buyback
D.
tariff
E.
blocked currency
A
Page Ref: 514
Skill: Concept
AACSB:
Objective: 15-1
38.
It is important to understand how business norms vary from county to country. For example, ________ like to sit or stand
very close to each other when they talk businessin fact, almost nose-to-nose.
A.
Americans
B.
Asians
C.
South Americans
D.
Africans
E.
Europeans
C
Page Ref: 515
Skill: Concept
Objective: 15-1
39.
Why might Asian businesspeople be offended by the typical bargaining tactics of American executives?
A.
Asian businesspeople typically reject offers in face-to-face conversations.
B.
Asian executives prefer to start business meetings with polite conversations.
C.
American executives prefer to start business meetings with polite, personal conversations.
D.
American executives tend to move closer to each other as they negotiate.
E.
American executives tend to conduct tough bargaining through non-personal forms of communication.
B
Page Ref: 515
Skill: Concept
Objective: 15-1
40.
Some social critics say that globalization really means ________ the world's cultures.
A.
Americanizing
B.
modernizing
C.
stabilizing
respecting
ignoring
D.
E.
A
Page Ref: 515
Skill: Concept
Objective: 15-1
41.
Which of the following is an example of how American culture is being exported to the world's countries?
A.
the popularity of the Harry Potter series
B.
the expansion of Wal-Mart Supercenters
C.
the success of "American Idol"
D.
the increasing popularity of American soccer
E.
the popularity of the Power Rangers
B
Page Ref: 516-517
Skill: Concept
Objective: 15-1
42.
When anti-American sentiment peaks, which of the following companies is most likely to be singled out by globalization
protestors?
A.
Nintendo
B.
Nokia
C.
McDonald's
D.
Toyota
E.
IKEA
C
Page Ref: 516
Skill: Concept
AACSB:
Objective: 15-1
43.
Which of the following would a defender of globalization most likely use as an example to argue that concerns of
Americanization are overblown and that globalization is indeed a two-way street?
A.
the view of McDonald's as a domestic brand in China
B.
the growing popularity of coffee in China since the introduction of Starbucks
C.
the growing number of IKEA furniture stores
D.
the initial failure of Disneyland Paris
E.
the antiglobalization protests aimed at KFC
C
Page Ref: 517
Skill: Concept
Objective: 15-1
44.
Which type of business is LEAST likely to find it necessary to enter international markets in order to survive?
A.
clothing manufacturers
B.
food distributors
C.
chain retailers
D.
small, local businesses
E.
automobile producers
D
Page Ref: 517
Skill: Concept
AACSB:
Objective: 15-1
45.
Which of the following is a factor that is likely to push a company to decide NOT to enter international markets?
A.
The company's home market is stagnant.
B.
The company would have to redesign its products.

C.
The company needs to counterattack international competitors in their home markets.
D.
Foreign markets present higher profit opportunities.
E.
Global competitors have offered similar products at lower prices.
B
Page Ref: 517
Skill: Concept
AACSB:
Objective: 15-1
46.
Several factors might draw a company into the international arena. Which of the following is NOT one of these factors?
A.
Global competitors might offer better products at lower prices domestically.
B.
Domestic markets may not present equivalent opportunities for growth.
C.
Managers are unsure of the effect of regulations and the political environments of other countries.
D.
The company's customers may be expanding abroad.
E.
The company has overcapacity it must deal with.
C
Page Ref: 517-518
Skill: Concept
AACSB:
Objective: 15-1
47.
Of the following, which is the LEAST critical decision a company should make before going abroad?
A.
what its international marketing objectives and policies are
B.
what volume of foreign sales it wants
C.
how many countries it wants to market in
D.
how many people it wants to employ
E.
what types of countries it wants to market in
D
Page Ref: 518

Skill: Concept
AACSB:
Objective: 15-1
48.
Demographic characteristics, geographic characteristics, economic factors, sociocultural factors, and political and legal
factors all help a company ________.
A.
determine a market's potential
B.
determine a country's degree of globalization
C.
evaluate its marketing objectives
D.
evaluate its value delivery network
E.
identify potential joint ventures
A
Page Ref: 519
Skill: Concept
Objective: 15-1
49.
Which of the following is a sociocultural factor that a company should consider before deciding to enter an international
market?
A.
political stability
B.
population density
C.
education
D.
income distribution
E.
consumer lifestyles, beliefs, and values
E
Page Ref: 519
Skill: Concept
Objective: 15-1
50.
Which of the following is a political and legal factor that a company should consider before deciding to enter an
international market?
A.
monetary and trade regulations
B.
transportation structure
C.
population size and growth
D.
industrial infrastructure
E.
business norms and approaches
A
Page Ref: 519
Skill: Concept
Objective: 15-1
51.
Which of the following is NOT a mode of entry that companies can use when they have decided to sell in a foreign
country?
A.
exporting
B.
embargo
C.
joint venturing
D.
direct investment
E.
licensing
B
Page Ref: 519
Skill: Concept
AACSB:
Objective: 15-2
52.
The simplest way to enter a foreign market is through ________.
A.
joint venturing
B.
direct investment
C.
exporting
D.
joint ownership
E.
contract manufacturing
C
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-2
53.
When entering a foreign market, companies typically start with ________, working through independent international
marketing intermediaries.
A.
direct exporting
B.
embargo
C.
direct investment
D.
indirect exporting
E.
licensing
D
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-2
54.
Sellers may eventually move into ________, whereby they handle their own exports. The investment and risk are
somewhat greater in this strategy.
A.
direct exporting
B.
embargo
C.
product adaptation
D.
indirect exporting
E.
licensing
A
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-2
55.
A company can conduct direct exporting in several ways. Which is NOT one of these ways?
A.
It can set up a domestic export department.
B.
It can set up an overseas sales branch.
C.
It can send home-based sales people abroad to find more business.
D.
It can work through independent international marketing intermediaries.
E.
It can work with foreign-based agents who sell goods on its behalf.
D
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-2
56.
A ________ gives the seller more presence and program control in the foreign market and often serves as a display center
and customer service center.
A.
straight product extension
B.
sales branch
C.
market-centered company
D.
market niche
E.
foreign licensing agreement
B
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-2
57.
________ is a method of entering a foreign market that involves a company coming together with a foreign company to
produce or market products or services.
A.
Direct exporting
B.
Adapted global marketing
C.
Joint venturing
D.
Direct investing
E.
Indirect exporting
C
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-2
58.
There are four types of joint ventures. Which of the following is NOT one of these types?
A.
licensing
B.
C.
joint ownership
D.
direct investment
E.
management contracting
D
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-1
59.
Through ________, an organization in the foreign market buys the right to use a company's manufacturing process,
trademark, patent, trade secret, or other item of value.
A.
indirect exporting
B.
licensing
C.
D.
E.
joint ownership
B
Page Ref: 520

Skill: Concept
AACSB:
Objective: 15-1
60.
Which of the following is an advantage of licensing?
A.
The licensing company has less control over the licensee than it would over its own operations.
B.
The licensing company loses brand recognition.
C.
The licensing company develops an understanding of how to market to the foreign country's consumers.
D.
The licensing company enters the foreign market at little risk.
E.
The licensee enters the foreign market at little risk.
D
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-2
61.
________ ventures consist of one company joining forces with foreign investors to create a local business in which they
share ownership and control.
A.
Joint ownership
B.
Licensing
C.
Contract manufacturing
D.
Management contracting
E.
Indirect exporting
A
Page Ref: 521
Skill: Concept
AACSB:
Objective: 15-1
62.
________ involves entering a foreign market by developing foreign-based assembly or manufacturing facilities.
A.
Exporting
B.
Direct investment
C.
Joint venturing
D.
Contract manufacturing
E.
Direct exporting
B
Page Ref: 522
Skill: Concept
AACSB:
Objective: 15-2
63.
Which of the following represents the biggest involvement a company can take in a foreign market?
A.
joint venture
B.
exporting
C.
direct investment
D.
E.
joint ownership
C
Page Ref: 522
Skill: Concept
AACSB:
Objective: 15-2
64.
Lower costs in the form of cheaper labor or raw materials, foreign government investment incentives, freight savings, and
the opportunity to improve the company image are all factors that would likely lead a company to ________ in a foreign
market.
A.
use direct exporting
B.
begin licensing
C.
conduct management contracting
D.
initiate joint ownerships
E.
make a direct investment

E
Page Ref: 522
Skill: Concept
AACSB:
Objective: 15-2
65.
________ means selling largely the same products and using the same marketing approaches worldwide.
A.
B.
Global market mixing
C.
Standardized global marketing
D.
Export marketing
E.
Multinational strategy
C
Page Ref: 523
Skill: Concept
AACSB:
Objective: 15-3
66.
"Take the product as is and find customers for it" is the slogan for ________.
A.
product strategy
B.
product invention
C.
adapted marketing
D.
E.
product adaptation
D
Page Ref: 523
Skill: Concept
AACSB:
Objective: 15-3
67.
________ means adjusting the marketing strategy and mix elements to each international target market.
A.
Standardized global marketing
B.
Global market mixing
C.
D.
Communication adaptation
E.
Whole channel view
C
Page Ref: 523
Skill: Concept
AACSB:
Objective: 15-3
68.
The ________ concept holds that marketing programs will be more effective when tailored to the unique needs of each
targeted customer group.
A.
global
B.
marketing
C.
communication
D.
promotion
E.
international
B
Page Ref: 523
Skill: Concept
AACSB:
Objective: 15-3
69.
Which of the following is NOT one of the five strategies for adapting product and marketing communications to a global
market?
A.
external extension
B.
straight extension
C.
D.
product adaptation
E.
product invention
A
Page Ref: 524
Skill: Concept
AACSB:
Objective: 15-3
70.
Changing promotions for each local market is known as ________.
A.
a straight extension
B.
advertising depth
C.
D.
product adaptation
E.
standardized global marketing
C
Page Ref: 527
Skill: Concept
AACSB: Communication
Objective: 15-3
71.
Regardless of how companies go about pricing their products, their foreign prices will probably be ________ their
domestic prices for comparable products.
A.
the same as
B.
lower than
C.
higher than
D.
competitive with
E.
not comparable with
C
Page Ref: 527
Skill: Concept
AACSB:
Objective: 15-3
72.
What is a company practicing when it charges a foreign subsidiary less than the companys costs or less than it charges in
its home market?
A.
price transparency
B.
dumping
C.
price escalation
D.
differentiation
E.
B
Page Ref: 529
Skill: Concept
Objective: 15-3
73.
An international company that takes a(n) ________ view takes into account the entire global supply chain and marketing
channel, forging an effective global value delivery network.
A.
whole-channel
B.
direct-distribution channel
C.
large-scale channel
D.
transportation network
E.
independent channel
A
Page Ref: 529
Skill: Concept
AACSB:
Objective: 15-3
74.
World product groups, geographical organizations, and international subsidiaries are all options for organizing
a(n)________.
A.
export department
B.
indirect exporting venture
C.
joint ownership
D.
international division
E.
standardized global marketing strategy
D
Page Ref: 530
Skill: Concept
AACSB:
Objective: 15-4
75.
In a(n) ________, executives are trained in worldwide operations, not just domestic or international.
A.
direct exporting company
B.
joint venture
C.
international division
D.
international subsidiary
E.
global organization
E
Page Ref: 531
Skill: Concept
AACSB:
Objective: 15-4
76.
A global firm gains marketing, production, and financial advantages that are not available to purely domestic competitors.
True
False
Page Ref: 509
Skill: Concept
AACSB:
Objective: 15-1
77.
A tariff is a tax levied by a foreign government against certain imported products.
True
False
Page Ref: 510
Skill: Concept
AACSB:
Objective: 15-1
78.
A quota sets limits on the amount of goods the importing country will accept in certain product categories.
True
False
Page Ref: 510
Skill: Concept
AACSB:
Objective: 15-1
79.
Nontariff trade barriers include restrictive product standards.
True
False
Page Ref: 511
Skill: Concept
AACSB:
Objective: 15-1
80.
An example of exchange control is requiring a foreign cosmetic company to test its products in Japan before selling them
there.
Answer:
True
False
Page Ref: 510
Skill: Application
AACSB: Reflective Thinking
Objective: 15-1
81.
GATT was established in Uruguay in 1994 to reduce trade barriers and set international standards for trade.
Answer:
True
False
Page Ref: 511
Skill: Concept
AACSB:
Objective: 15-1
82.
The WTO acts as an umbrella organization that oversees GATT and mediates global disputes.
True
False
Page Ref: 511
Skill: Concept
AACSB:
Objective: 15-1
83.
Free trade zones are also known as economic communities.
True
False
Page Ref: 511
Skill: Concept
AACSB:
Objective: 15-1
84.
The European Union represents one of the world's single largest markets.
True
False
Page Ref: 511
Skill: Concept
Objective: 15-1
85.
If "Fortress Europe" were to come about, it would have the effect of strengthening the American economy.
Answer:
True
False
Page Ref: 512
Skill: Application
AACSB: Analytic Skills
Objective: 15-1
86.
CAFTA-DR has eliminated all trade barriers and investment restrictions among the United States, Canada, and Mexico.
Answer:
True
False
Page Ref: 512
Skill: Concept
Objective: 15-1
87.
UNASUR, a coming together of CAFTA-DR and FTAA, is modeled after NAFTA.
Answer:
True
False
Page Ref: 512
Skill: Concept
Objective: 15-1
88.
Industrializing and industrial economies both have middle classes.
True
False
Page Ref: 513
Skill: Concept
Objective: 15-2
89.
Barter is often used in subsistence economies.
True
False
Page Ref: 513
Skill: Concept
Objective: 15-1
90.
Because of its volatile government, Venezuela represents an unattractive market that few international marketers have
taken the risk to enter.
Answer:
True
False
Page Ref: 514
Skill: Concept

Objective: 15-1
91.
The exchange of U.S. wheat for Russian vodka is an example of barter.
True
False
Page Ref: 514
Skill: Application
Objective: 15-1
92.
Japanese businesspeople like to sit or stand very close to each other when they negotiatein fact, almost nose-to-nose.
Answer:
True
False
Page Ref: 515
Skill: Concept
Objective: 15-1
93.
Nike has been singled out by antiglobalization protestors all over the world.
True
False
Page Ref: 516
Skill: Concept
Objective: 15-1
94.
The simplest way to enter a foreign market is through exporting.
True
False
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-2
95.
Joint venturing is when two or more U.S. companies jointly invest in distributing products to a foreign country.
Answer:
True
False
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-2
96.
Licensing is a simple way for manufacturers to enter international marketing with only a little risk.
True
False
Page Ref: 520
Skill: Concept
AACSB:
Objective: 15-2
97.
When Sears used qualified, local manufacturers to produce many of the products it sells in its department stores in
Mexico, it was using contract manufacturing.
True
False
Page Ref: 521

Skill: Application
Objective: 15-2
98.
The biggest involvement in a foreign market comes through direct investmentthe development of foreign-based assembly
or manufacturing facilities.
True
False
Page Ref: 522
Skill: Concept
AACSB:
Objective: 15-2
99.
Coca-Cola is less sweet or less carbonated in certain countries. This is known as standardized global marketing.
Answer:
True
False
Page Ref: 523
Skill: Application
Objective: 15-3
100.
Because they feel that technology is making the world a smaller place, some global marketers believe that a standardized
global marketing approach is best.
True
False
Page Ref: 523
Skill: Concept
AACSB: Use of IT
Objective: 15-3
101.
Kellogg cereals are sold successfully in essentially the same form around the globe. This is an example of straight product
extension.
True
False
Page Ref: 523
Skill: Application
Objective: 15-3
102.
A company should adapt its communication internationally because media availability and effectiveness varies from
country to country.
True
False
Page Ref: 527
Skill: Concept
Objective: 15-3
103.
To overcome the problem of selling to less affluent customers in developing countries, many companies eliminate price
escalation.
Answer:
True
False
Page Ref: 527
Skill: Concept
AACSB:
Objective: 15-3
104.
The whole-channel view recognizes that to compete internationally a company must effectively design and manage a
standardized global marketing plan.
True
Answer:
False
Page Ref: 529
Skill: Concept
AACSB:
Objective: 15-3
105.
If a firm moves into joint ventures and direct investments, it will likely eventually create international divisions or
subsidiaries.
True
False
Page Ref: 530
Skill: Concept
AACSB:
Objective: 15-4
106.
Compare and contrast a tariff and a quota.
A tariff is a tax levied by a foreign government against certain imported products. A quota is a set of limits on the amount
of goods the importing country will accept in certain product categories. Both tariffs and quotas can be used to protect
domestic firms from foreign competition.
Page Ref: 510
Skill: Application
Objective: 15-1
107.
Describe the purpose, roles, and achievements of GATT and the World Trade Organization.
The General Agreement on Tariffs and Trade (GATT) is a 61-year-old treaty designed to promote world trade by reducing
tariffs and other international trade barriers. Member nations, currently numbering 150, have met repeatedly to reassess
trade barriers and set new rules for international trade. The most recently completed GATT negotiations promote longterm global trade growth, reducing the world's remaining merchandise tariffs, extending GATT to cover trade in
agriculture and a wide range of services, and toughening international protection of copyrights, patents, trademarks, and
other intellectual property. The Uruguay round of GATT negotiations resulted in the creation of the World Trade
Organization (WTO) to enforce GATT rules. In general, the WTO acts as an umbrella organization, overseeing GATT,
mediating global disputes, and imposing trade sanctions.
D
Page Ref: 511
Skill: Application
Objective: 15-1
108.
Explain why the European Union could be considered a threat to U.S. marketers that want to do business in Europe.
As a result of increased unification, European companies will grow bigger and more competitive. A concern is that lower
barriers within Europe will lead to higher barriers between Europe and non-EU countries. Some observers envision a
"Fortress Europe" that heaps favors on firms from European Union countries but hinders outsiders.
Page Ref: 512
Skill: Application
Objective: 15-1
109.
Compare and contrast a raw material exporting economy to a subsistence economy.
Both a raw material exporting economy and a subsistence economy are poor in many ways. In a subsistence economy,
most people engage in simple agriculture and consume most of what they produce. Unlike a subsistence economy, a raw
material exporting economy is rich in one or more natural resources that can be exported to generate revenues.
Subsistence economies offer few market opportunities, but raw material exporting economies offer market opportunities
for large equipment, tools and supplies, and trucks. A raw material exporting economy may also have a small but wealthy
upper class that is a market for luxury goods.
Page Ref: 513
Skill: Application
Objective: 15-1
110.
Describe the political-legal factors that a company should consider before deciding to do business in a foreign country.
A company should consider the country's attitudes toward international buying, as well as the country's bureaucracy,
political stability, and monetary regulations. Some countries are receptive to foreign firms, offering incentives and
favorable operating conditions, while other countries set restrictions and limitations designed to discourage foreign
business. A country that is politically unstable, with frequent and sometimes violent changes in leadership, offers a less
certain environment for business and financial matters. A country may also have monetary regulations, such as a blocked
currency whose removal from the country is restricted, that a company should evaluate.
Page Ref: 514
Skill: Application
Objective: 15-1
111.
Why is it important for companies to understand cultural differences and nuances before entering a foreign country's
market? Give two examples of cultural differences that would be important for a company to know.
Before planning a marketing program in a new country, a seller should understand the ways that consumers in that
country think about and use the product. To succeed abroad, a company must adapt to local cultural values and traditions
rather than trying to force its own. Students' examples will vary, but could include the following: French men use twice as
many grooming aids as women, many Chinese eat on the way to work, and religious imagery (such as Hindu gods) used
in a promotion could easily be considered offensive.
Page Ref: 514-515
Skill: Application
Objective: 15-1
112.
What are two advantages of exporting?
One advantage of exporting is that the company produces all of its goods in its home country, so it does not need to invest
in manufacturing facilities abroad. Also, exporting involves the least change in the company's product lines, organization,
investments, and mission. With exporting, a company can make a minimal commitment to a foreign market and take
minimal risks.
Page Ref: 520
Skill: Application
Objective: 15-2
113.
Compare and contrast the advantages and disadvantages of standardized global marketing and adapted global marketing.
Companies that use standardized global marketing use largely the same marketing strategy approaches and marketing
mix worldwide. On the other hand, with adapted global marketing, the producer adjusts the marketing strategy and mix
elements to each target market, bearing more costs but hoping for a larger market share and return. Some global
marketers believe that technology is making the world a smaller place and that consumer needs around the world are
becoming more similar. This paves the way for "global brands" and standardized global marketing. Global branding and
standardization, in turn, result in greater brand power and reduced costs from economies of scale. On the other hand, the
marketing concept holds that marketing programs will be more effective if tailored to the unique needs of each targeted
customer group. Despite global convergence, consumers in different countries still have widely varied cultural
backgrounds and still differ significantly in their needs and wants, spending power, product preferences, and shopping
patterns. Standardized global marketing does not take these differences into account, and may therefore be less effective,
albeit less expensive.
Page Ref: 523
Skill: Application
Objective: 15-3
114.
Identify and describe the three product strategies a company entering a foreign market can use.
A
A company can choose straight product extension, product adaptation, or product invention. Straight product extension
means marketing a product in a foreign market without any change. This involves no additional product development
costs, manufacturing changes, or new promotion. However, it can be costly in the long run if products fail to satisfy
foreign consumers. Product adaptation involves changing the product to meet local conditions or wants. Product
invention consists of creating something new for a specific country market. This strategy can take two forms. It might
mean maintaining or reintroducing earlier product forms that happen to be well adapted to the needs of a given country.
Or a company might create a new product to meet a need in a given country.
Page Ref: 523-526
Skill: Application
Objective: 15-3
115.
Identify the three major ways a company can manage its international marketing organization.
The company must develop an effective organization for international marketing. Most firms start with an export
department and graduate to an international division. A few become global organizations, with worldwide marketing
planned and managed by the top officers of the company. Global organizations view the entire world as a single,
borderless market.
Page Ref: 530
Skill: Application
Objective: 15-4
116.
Growing Green is a company that markets organic and environmentally friendly gardening and landscaping supplies and
equipment. Members of management at Growing Green are examining the policies of GATT, actions undertaken by the
WTO, and the agreements made by free trade zones such as NAFTA and the EU. In which stage of the international
marketing process is Growing Green?
A.
deciding whether to go global
B.
C.
D.
E.
E
Page Ref: 510
Skill: Application
Objective: 15-1
117.
Trusted Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the
United States and Canada. Management at Trusted Wholesalers would most likely be interested in becoming experts in
the agreements made by ________.
A.
the EU
B.
NAFTA
C.
CAFTA-DR
D.
FTAA
E.
UNASUR
B
Page Ref: 512
Skill: Application
Objective: 15-1
118.
Trusted Wholesalers is a company that currently purchases products produced in Mexico and sells them to companies
based in the United States and Canada. Trusted Wholesalers is considering whether to also purchase products produced
in Costa Rica and the Dominican Republic. To make their decision, members of management at Trusted Wholesalers will
most likely closely evaluate the agreements made by ________.
A.
the EU
B.
NAFTA
C.
CAFTA-DR
D.
FTAA
E.
UNASUR
C
Page Ref: 512
Skill: Application
Objective: 15-1
119.
Much of Chile's revenues come from its tin and copper exports. Chile has a(n) ________ economy.
A.
subsistence
B.
emerging
C.
merchandise exporting
D.
E.
industrializing
D
Page Ref: 513
Skill: Application
Objective: 15-1
120.
India needs more imports of raw materials such as textiles, steel, and heavy machinery, and fewer imports of finished
textiles, paper products, and automobiles. India is most likely a(n) ________ economy.
A.
subsistence
B.
emerging
C.
D.
agrarian
E.
industrializing
E
Page Ref: 513
Skill: Application
Objective: 15-1
121.
Azerbaijan imported wheat from Romania in exchange for crude oil and Vietnam exchanged rice for Philippine fertilizer
and coconuts. Both scenarios are examples of which of the following?
A.
exchange controls
B.
tariffs
C.
quotas
D.
blocked currency
E.
barter
E
Page Ref: 514
Skill: Application
Objective: 15-1
122.
Nike faced a situation in a Muslim country with the stylized "Air" logo on its shoes. Muslims were offended because
Nike's "Air" resembled "Allah" in Arabic script. This is an example of ________.
A.
the impact of culture on marketing strategy
B.
C.
product adaptation
D.
adapted global marketing
E.
A
Page Ref: 514
Skill: Application
Objective: 15-1
123.
Members of management at Growing Green, a company that markets organic and environmentally friendly gardening
and landscaping supplies and equipment, are defining international marketing objectives and policies, as well as
determining the volume of foreign sales the company should aim for. In which stage of the international marketing
process is Growing Green?
A.
B.
C.
D.
E.
B
Page Ref: 490
Skill: Application
Objective: 15-1
124.
Members of management at Growing Green, a company that markets organic and environmentally friendly gardening
and landscaping supplies and equipment, are evaluating the benefits and disadvantages of indirect exporting, direct
exporting, and licensing. In which stage of the international marketing process is Growing Green?
A.
B.
C.
D.
E.
C
Page Ref: 519
Skill: Application
Objective: 15-2
125.
Think Ink is a growing company that sells a variety of inks for home and business printers. Management at Think Ink has
decided to open a sales branch overseas to handle sales and distribution abroad. Think Ink is engaging in ________.
A.
indirect exporting
B.
direct exporting
C.
licensing
D.
joint ownership
E.
B
Page Ref: 520
Skill: Application
Objective: 15-2
126.
Coca-Cola markets internationally by ________ bottlers around the world for a fee or royalty and then supplying them
with the syrups needed to produce Coke products.
A.
contract manufacturing with

B.
management contracting with
C.
licensing
D.
creating joint ownerships with
E.
directly investing in
C
Page Ref: 520-521
Skill: Application
Objective: 15-2
127.
Hilton helps others run their hotels by exporting know-how services rather than products. This type of joint venture is
known as ________.
A.
B.
licensing
C.
D.
joint ownership
E.
direct investment
C
Page Ref: 521
Skill: Application
Objective: 15-2
128.
Vidal Sassoon shampoos contain different amounts of scent according to what country they are sold in. This is an example
of ________.
A.
B.
product invention
C.
product adaptation
D.
E.

C
Page Ref: 525
Skill: Application
Objective: 15-3
129.
An American-based baby food company created mugwort casserole for babies in the Japanese market, the only market in
which the product is available. This is an example of ________.
A.
B.
licensing
C.
product invention
D.
direct investment
E.
a global strategy
C
Page Ref: 526
Skill: Application
Objective: 15-3
130.
Kraft cream cheese did not market well in Scandinavia. After researching the market, Kraft learned that a shrimp-flavored
cream cheese was preferred by the Scandinavian population. In this situation, Kraft will likely use ________.
A.
B.
product adaptation
C.
product invention
D.
E.
A and B
B
Page Ref: 526
Skill: Application
Objective: 15-3
131.
The National Cash Register Company reintroduced its crank-operated cash register at half the price of a modern cash
register and sold large numbers in Asia, Latin America, and Spain, This is an example of ________.
A.
product invention
B.
product adaptation
C.
D.
direct investment
E.
product reinvention
A
Page Ref: 526
Skill: Application
Objective: 15-3
132.
A Chinese New Year television ad features a dragon in a holiday parade, adorned with red Coke cans. The spot concludes,
"For many centuries, the color red has been the color for good luck and prosperity. Who are we to argue with ancient
wisdom?" This is an example of ________.
A.
B.
joint venturing
C.
product invention
D.
E.
product adaptation
A
Page Ref: 527
Skill: Application
Objective: 15-3
133.
To maximize the toothpaste market in China, Crest needs to convince more of the Chinese population to brush their teeth.
Which of the following would Crest be most likely to use to accomplish this?
A.
licensing
B.
C.
D.
E.
product invention
C
Page Ref: 527
Skill: Application
Objective: 15-3
134.
In France, where consumers drink little milk and eat little for breakfast, ________ is used by Kellogg. Unlike their
American promotions, Kellogg's ads in France must convince consumers that cereals are a tasty and healthful breakfast.
A.
standardized marketing
B.
licensing
C.
personal marketing
D.
E.
global marketing
D
Page Ref: 527
Skill: Application
Objective: 15-3
135.
At Comfort Homes, a manufacturer of furniture and home accessories, the global operating units report directly to the
chief executive instead of a head of an international division. The company recruits management from many countries
and buys components and supplies where they cost the least. Comfort Homes is most accurately classified as a(n)
________.
A.
direct exporter
B.
geographical organization
C.
international subsidiary
D.
global organization
E.
world product group
D
Page Ref: 530-531
Skill: Application
Objective: 15-4
136.
Companies that go global confront several major risks. Describe three of these risks.
Companies that go global may face unstable governments and currencies abroad, as well as restrictive government
policies and regulations designed to protect domestic companies or to protect the culture. High trade barriers are another
issue. Also, some companies have to deal with corruption abroad, as some officials award business contracts to the highest
briber.
Page Ref: 509
Skill: Application
Objective: 15-1
137.
Why might a government impose tariffs?
A tariff is a tax levied by a foreign government against certain imported products; a government might impose a tariff to
raise revenue for the country or to protect domestic firms.
Page Ref: 510
Skill: Application
Objective: 15-1
138.
Why might a government set a quota on the number of cars, for example, that are imported?
A quota sets a limit on the number of products allowed into a country; the purpose of a quota is to protect domestic
industries and employment, as well as to conserve on foreign exchange.
Page Ref: 510
Skill: Application
Objective: 15-1
139.
Briefly explain why economic communities are formed.
Economic communities, or free trade zones, are groups of nations organized to work toward common goals in the
regulation of international trade; economic communities benefit member nations by reducing barriers to the free flow of
products, services, finances, and labor across borders.
Page Ref: 511
Skill: Application
Objective: 15-1
140.
List two signs that indicate that NAFTA is a success.
Trade among the United States, Canada, and Mexico is flourishing. Over a 15-year period, NAFTA has eliminated trade
barriers and investment restrictions among the three countries. During that same period, total trade among the three
countries has more than doubled.
Page Ref: 512
Skill: Application
Objective: 15-1
141.
Explain barter and give one example of the practice.
Barter is the practice of exchanging goods or services for other goods and services, rather than buying goods or services
with cash. China traded infrastructure support for natural resources with the Democratic Republic of Congo.
Page Ref: 514
Skill: Application
Objective: 15-1
142.
Explain why some critics worry that American multinationals are causing countries around the globe to lose their
individual identities, giving two examples of the "Americanizing" of the world's cultures.
Some critics are concerned because people in diverse countries and cultures throughout the world now regularly use
American products and services that have changed their daily habits. For example, most people in China did not drink
coffee until Starbucks entered the market, and teens in India watch MTV and ask their parents for clothing and other
symbols of American culture.
Page Ref: 516
Skill: Application
Objective: 15-1
143.
Many studies reveal that instead of "Americanizing" the world's cultures, the cultural exchange between America and
other countries goes two ways. Give two examples of how America has been influenced culturally by foreign products or
services.
Examples will vary but could include the following: "American Idol" comes from British TV; the popularity of soccer has
international roots; and Sega and Nintendo come from abroad.
Page Ref: 517
Skill: Application
Objective: 15-1
144.
How is joint venturing more risky and complex than merely exporting?
With a joint venture, a company joins forces with another foreign company to produce or market products or services.
With a joint venture, the company is not merely producing domestically and then shipping abroad, the company is
working hand-in-hand with a foreign company toward a common purpose.
Page Ref: 520
Skill: Application
Objective: 15-2
145.
What are two possible risks involved with licensing?
The firm has less control over the licensee than it would over its own production facilities. Furthermore, if the licensee is
very successful, the firm has given up these profits, and if and when the contract ends, it may find it has created a
competitor.
Page Ref: 521
Skill: Application
Objective: 15-2
146.
What are two possible reasons that management contracting is prevalent in the hotel industry?
A hotel, such as Hilton, that has an international reputation and is highly regarded would bring brand value, as well as
experience to a foreign firm. For the company supplying the contracting, the investment is minimized because the foreign
company supplies the capital.
Page Ref: 521
Skill: Application
Objective: 15-2
147.
What types of products would be successful with standardized global marketing?
A
Products that require no change to the product itself or to the product's promotion would be appropriate for a
standardized marketing mix.
Page Ref: 523
Skill: Application
Objective: 15-3
148.
What types of products would be successful following an adapted global marketing strategy?
Products (and their promotions) that need to be altered to meet the local needs of specific cultures or regions of the world
would require adapted mixes.
Page Ref: 523
Skill: Application
Objective: 15-3
149.
How are a straight product extension and a standardized global marketing strategy related?
A straight product extension occurs when a product is marketed to a foreign market without any change. A straight
product extension is a part of a standardized global marketing strategy, as are price, promotion, and placement.
Page Ref: 523
Skill: Application
Objective: 15-3
150.
Give two examples of product adaptation.
Students' answers will vary greatly. Varying flavors and textures of food, depending on where in the world the food is
being marketed, and varying scents of shampoo are possible examples.
Page Ref: 525
Skill: Application
Objective: 15-3
151.
Give two examples of product invention.
Students' answers will vary. Sony's introduction of the "U" in Japan is one possibility; LG Electronics creation of the
kimchi refrigerator might be another.
Page Ref: 515, 526
Skill: Application

Objective: 15-3
152.
Explain why a global company would need to make adjustments to a highly standardized promotion campaign for
different markets.
Some language and cultural differences make adjustments necessary, as a slogan might not translate well or a certain
image or color may hold a vastly different meaning in a different culture.
Page Ref: 526-527
Skill: Application
Objective: 15-3
153.
Why is a company unlikely to set a uniform price all around the world?
A uniform price would be too low in rich countries and too high in poor ones; a standardized price would not reflect the
costs of transportation, tariffs, wholesale margins, and retailer margins that will differ from country to country.
Page Ref: 527
Skill: Application
Objective: 15-3
154.
How has the Internet affected how companies set prices on global products?
Using the Internet, customers can see how much products sell for in different countries or even order a product directly
from the location offering the lowest price; this is forcing companies toward more standardized international pricing.
Page Ref: 529
Skill: Application
AACSB: Use of IT
Objective: 15-3
155.
What might drive a company to create international divisions or subsidiaries?
Many companies get involved in several international markets and ventures, such as exporting to one country, licensing to
another, having a joint ownership venture in a third, and owning a subsidiary in a fourth. With increased international
activity, the company will need to move from simply having an export department to having more specialized
international divisions or subsidiaries.
Page Ref: 530
Skill: Application
Objective: 15-4
Scenario
Selman & Saks, a maker of men's and women's razors and electric hair trimmers, had little reason to become
involved in the global arena. But after acquiring Wellman Enterprises, whose largest division engages in a licensing
agreement with a German firm to produce women's hosiery, managers at Selman & Saks wondered just whether a
company-wide global focus would be more profitable after all.
Managers at Selman & Saks studied Wellman's licensing agreement in great detail. Though seeing first-hand the
benefits Wellman found with the licensing agreement, managers decided that Selman & Saks would target the French
market merely via exporting.
With the assistance of a domestic export department, the Selman & Saks razors and hair trimmers entered France.
For six months, sales were mediocre. But after that, sales suffered. Opinions varied among numerous managers as to the
cause of the failure. "Who knows the local market better than people who live there?" was a comment heard throughout
Selman & Saks. "Maybe we needed an alliance with a French firm, or a licensing agreement, before racing to get there."
156.
Give two cultural factors that may impede Selman & Saks' global business efforts.
Managers at Selman & Saks presumed that the French market would be comparable to that of the United States.
Culturally, the French may prefer a different type of razor or trimmer. In addition, Selman & Saks managers likely did not
study whether the use of product colors or ad slogans would be offensive.
Page Ref: 514-515
Skill: Application
Objective: 15-2
157.
What factor(s) pulled Selman & Saks into the global arena?
The simplicity with which Wellman's licensing agreement appeared to operate seems to have pushed Selman & Saks into
the global arena before the managers gave much consideration to the complexities of the numerous global market
situations that could arise from such agreements.
Page Ref: 517
Skill: Application
Objective: 15-2
158.
Based on the nature of Selman & Saks and its industry, what types of countries should the business enter?
Given the demand for razors and hair trimmers among people around the globe, managers at Selman & Saks might
assume that almost any culture similar to the United States could serve as a viable market.
Page Ref: 518
Skill: Application
Objective: 15-2
159.
Why might Selman & Saks want to begin its global efforts by merely exporting?
Exporting is the simplest, least risky, least involved way to enter a foreign market. Once the market is chosen, the exporter
can benefit from global exposurekeeping the brand name and symbol intact on the productwithout much involvement
after shipping.
Page Ref: 520
Skill: Application
Objective: 15-3
160.
How might Selman & Saks benefit from indirect exporting?
Companies typically start with indirect exporting, working through independent international marketing intermediaries.
Indirect exporting involves less investment because the firm does not require an overseas marketing organization or set of
contacts. It also involves less risk. International marketing intermediaries bring know-how and services to the
relationship, something this seller needs to be successful overseas.
Page Ref: 520
Skill: Application
Objective: 15-2
161.
How might Selman & Saks eventually benefit from engaging in licensing?
Licensing would benefit Selman & Saks by allowing a French firm to produce the razors and trimmers in exchange for a
royalty; the French company might have identified necessary product or package changes necessary to remain attractive to
the French market.
Page Ref: 520
Skill: Application
Objective: 15-2
162.
What risks, if any, might be associated with Selman & Saks engaging in joint ownership?
Selman & Saks may experience disagreements over investment, marketing, or production with a foreign partner.
Page Ref: 522
Skill: Application
Objective: 15-2
163.
What elements of Selman & Saks' marketing strategy are likely to remain standardized?
A
All elements of the marketing mix will likely require modification, including alterations to the product to fit the new
market, adapted communication to appeal to a target from a different culture, adjusted prices to reflect greater costs of
exporting, and distribution channels between and within countries.
Page Ref: 523
Skill: Application
Objective: 15-3
164.
How might Selman & Saks use product adaptation?
Product color or size may require alteration. Electric currency differences in France will require product modification.
Page Ref: 525
Skill: Application
Objective: 15-3
165.
In what way(s) might Selman & Saks engage in communication adaptation?
Communication adaptation may be necessary if Selman & Saks learns that French people shave more or less frequently or
demand different results from a razor or trimmer than do Americans.
Page Ref: 527
Skill: Application
Objective: 15-3

Chapter 15

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Chapter 15

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Chapter 15 : The Global Marketplace

Which of the following is designed to help foster trade between nations?

Page Ref: 513

The company would have to redesign its products.

Page Ref: 518

Page Ref: 520

make a direct investment

AACSB: Multicultural and Diversity

Page Ref: 521

contract manufacturing with

standardized global marketing

AACSB: Reflective Thinking

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