MKTG 445 - Global Marketing Exam 1
Based on the combined population and GDP, which preferential trade organization has the greatest global impact?
ASEAN
Which of the following BEST describes an economic union?
An agreement that seeks to coordinate economic and social policies to facilitate the free flow of capital, labor, and goods and services from country to country.
________ is the first stage of Rogers' diffusion theory.
Awareness
Which of the following market groups represents the greatest growth opportunities for marketers?
BRICS
Which of the following Mercosur members has a gross domestic product (GDP) greater than the combined GDP of the other eight members?
Brazil
Which of the following is the number one trading partner of the United States?
Canada
__________ has become key to facilitating commodities trading between Latin American countries and new markets like China and India.
Common Market of the South
Which of the following helps to explain why the Andean Community has not yielded more economic benefits?
Competing political ideologies
When a company succeeds in creating more value for customers than its competitors do, what is the company enjoying?
Competitive advantage
Which of the following describes the euro zone?
Countries that adopted the single European currency
Hofstede's "collective programming of the mind" refers to which of the following?
Culture
Which of the following is the key difference between a single-country marketing strategy and a global strategy?
Determining the extent of adaptation
Which of the following is the division of the World Trade Organization responsible for mediating complaints concerning unfair trade barriers?
Dispute Settlement Body (DSB)
When Starbucks dropped the word "coffee" from its logo, which growth strategy was it executing?
Diversification
Red Bull built market share through sampling. This reflects which of the factors that affects the rate of adoption?
Divisibility
Which of the following organizations constitutes the world's largest economy?
EU
Which of the following adopter categories has the greatest influence in the adoption process?
Early adopters
Which preferential trade group is made up of Kenya, Uganda, Tanzania, Rwanda, and Burundi?
East African Community
Which of the following is a common marketplace not only for goods but also for services and capital?
Economic union
A person who assumes that his or her home county is superior to the rest of the world is said to have what type of orientation?
Ethnocentric
Which of the following is the name for the economic and monetary union that includes a European central bank and a single European currency?
Euro Zone
Which of the following is NOT a major challenge to the NAFTA agreement?
Excessive external tariffs
________ is the concentration of attention on a core business or competence.
Focus
Which of the following was a 1947 treaty among nations whose governments agreed, at least in principle, to promote trade among members?
General Agreement on Tariffs and Trade (GATT)
________ management orientation views the entire world as a potential market.
Geocentric
What can global marketing students conclude from Fortune magazine's top 500?
Global expansion is key to a company's growth strategy.
In which type of company is competitive advantage achieved by integrating and leveraging operations on a worldwide scale?
Global industry
What is considered the "key" to Coca-Cola's worldwide success?
Global marketing
Which of the following terms is used to express the idea that content and other product standards that varied among nations have been brought into alignment?
Harmonization
What is the major trade challenge for Andean Community members?
High tariffs on imported goods
________ is the extent to which a firm's competitive marketing tactics in different parts of the world are interdependent.
Integration of competitive moves
Which of the following steps of the 4-step framework designed to reduce the distortion from self-reference criterion (SRC) is MOST critical?
Isolate the SRC influence to see how it complicates the problem.
Which of the following was the most significant challenge to a fully integrated ASEAN economic community?
Lack of consensus among all ASEAN member nations
In a high-context cultural orientation, which of the following is of LOW importance?
Legal documents
In which of the following growth strategies are loyalty or rewards programs most utilized?
Market penetration
North Africa and the Middle East are viewed as a regional entity known as ________.
Mena
In 2014, the Russian Federation banned the import of many agricultural products from the European Union. This is considered which of the following restraining forces?
Nontariff Barriers
The ________ is the trade agreement among the United States, Canada, and Mexico.
North American Free Trade Agreement (NAFTA)
Which of the following provides the best guide to creating perceived value?
Perceived benefits divided by Perceived cost
A company that focuses on the European Union as one market has which of the following orientations?
Regiocentric
________ is how a new product compares with existing products in the eyes of the customer.
Relative advantage
____________ has widened the gap between poor and rich nations in the Middle East.
Revenue from oil
Which of the following members of the South African Development Community (SADC) represents about seventy-five percent of the income in the region?
South Africa
CARICOM members are from which geographical region?
The Caribbean
Which of the following is involved in the resolution of conflict between the U.S. and the EU over aerospace subsidies?
The Dispute Settlement Body (DSB)
Which of the following organizations is striving to speak "as one voice" regarding political turmoil in the Middle East?
The GCC
Which of the following organizations was the predecessor to the WTO?
The General Agreement on Tariffs and Trade (GATT)
Which of the following is the regional organization of oil-producing nations in the Middle East?
The Gulf Cooperation Council (GCC)
Which of the following helps describe the European Union (EU)?
The economic and monetary union of 28 European nations.
What is the key difference between NAFTA and an economic union?
The economic union provides free flow of labor between countries.
What would be needed for NAFTA to become a Customs Union?
The establishment of common external tariffs.
Which of the following BEST defines the self-reference criterion?
The unconscious reference to one's own cultural values.
What was the controversy surrounding the U.S. 2012 Olympic Opening Ceremony uniforms?
They were made in China.
An American in Russia observes a business transaction being completed with payment in cash from a large briefcase. To the American, this appears to be possibly corrupt or fraudulent. Why?
The American's self-reference criterion (SRC)
Which of the following is a forum that brings together political leaders with mutual interest in the Asian market?
The Asia-Pacific Economic Cooperation (APEC)
McDonald's has a global expansion strategy that includes standardized brand image and operations with menus adapted to cultural differences. Which of the following BEST describes this strategy?
Think globally and act locally
Which of the following best describes the purpose of the African Growth and Opportunities Act (AGOA) signed into law in 2000?
To encourage African nations to make progress toward economic liberalization.
Which of the following dimensions of social value typology provide insight into the acceptance of products perceived as new or innovative?
Uncertainty avoidance
What is the major challenge facing the members of the Association of Southeast Asian Nations (ASEAN)?
Widely varying stages of development
Why does Nike use the slogan "Here I am" in Europe as opposed to "Just Do It"?
Women in Europe are not as competitive in sports.
Which organization provides a forum for trade-related negotiations among its members?
World Trade Organization
In a low-context culture, which of the following is of HIGH importance?
Written contracts
The ultimate goal of ________ is to have zero duties on goods that cross the borders between free trade partners.
a free trade agreement
A preferential trade agreement (PTA) is ________.
a mechanism that confers special treatment on select trading partners
A culture's sense of what is beautiful and what is not beautiful is a consideration of ________.
aesthetics
Starbucks' overall marketing strategy is based on ________.
all four growth strategies
All associations and perceptions of ________ arise from culture.
color
The ________ consists of various cultural segments interconnected through digital technology and global branding.
cosmopolitan culture
A diversification strategy is one in which a company ________.
creates a new product or service offering targeting a new segment
In Latin America, the Common Market of the South (Mercosur) actually operates as a(n) ________.
customs union
A key to conducting business in the Middle East is ________.
developing relationships
A(n) ________ seeks to coordinate and harmonize economic and social policies to facilitate the free flow of capital, labor, and goods and services from country to country.
economic union
When creating a global marketing plan, ________ reflects the extent to which the strategy must be adapted to culture-specific needs of the market.
environmental sensitivity
The process through which individuals who have adopted innovation influence others is called ________.
interaction effect
Global marketing causes a company to focus on ________.
its resources and competencies on global market opportunities and threats
A company with environmentally insensitive products requires ________.
less time determining the unique conditions of local markets
The greater the cultural difference between the home country and the new market, the greater the _______________.
need for product adaptation
Clif Bars currently focuses on production and distribution in the United States, Canada, and Mexico. Clif Bars has a ______________orientation.
regiocentric
In most cultures, __________is the basis of people's beliefs, attitudes, and values.
religion
The system of meaning in the study of linguistics is called ________.
semantics
In the context of global marketing, leverage is ________.
some type of advantage that a company enjoys by virtue of the fact that it has experience in more than one country
The signing of the Maastricht Treaty set the stage for the creation of ________.
the European Central Bank and the euro currency
Why must U.S. companies "go global"?
75% of world market potential is outside their home country.
Which of the following of Hofstede's dimensions of culture can be applied to gender differences in culture?
Achievement/nurturing
Which of the following products would probably have the greatest environmental sensitivity if introduced into a new market?
Campbell's soup
Which of the following dimensions of Hofstede's cultural typology was added based on a Chinese Value Survey (CVS)?
Long-term/short-term orientation
Which of the following dimensions of national culture would most likely prefer joint ventures rather than sole ownership?
Low-power-distance index
Which of Hofstede's dimensions of national culture examines how people value history and tradition?
Short-term orientation
Which of these areas of Africa has the lowest average per capita income?
Sub-Saharan Africa
A company's value chain is made up of ________.
marketing, product design, manufacturing, and transportation logistics