International Marketing Test 1 (Ch. 1-7)

Self-Reference Criteria (SRC)

#1 cause for marketing failure in foreign markets

Stages of International Marketing Involvement

1. No direct foreign marketing 2 Infrequent Foreign Marketing 3. Regular Foreign Marketing 4. International Marketing (Multi-domestic) 5. Global Marketing

7 Dimensions of Cultural Differences

1. Pace: time, intervals, the concept of "soon" 2. Conduct 3. Communication 4. Word attitudes 5. Relationships 6. Space

Domestic Environment Controllables

4 P's and Research

Infrequent Foreign Marketing

A little more involved, more inventory/supply. May sell overseas only to get rid of surplus inventory

Foreign Environment Uncontrollables

Cultural forces Political/legal forces Economic forces Competitive forces Level of technology Structure of distribution Geography/infrastructure

Which of the following uncontrollable elements is likely to have an adverse effect on a company's competitive position in foreign markets due to its influence on the company's investment capabilities?

Disturbed domestic economy

Which of the following is one of the domestic environment uncontrollables that can have a direct effect on the success of a foreign venture?

Economic climate

____ is generally a problem when managers from affluent countries work with managers and markets in less affluent countries

Ethnocentrism

Which of the following would be considered a controllable element in the domestic environment?

Firm characteristics

Regular Foreign Marketing

Frequent, year-round, but the firm's main focus is their domestic market

International Marketing (Multidomestic)

Full commitment to international marketing activities, either multi-domestically or globally

Which of the following is true of global awareness in the context of international marketing?

Global awareness can be generated by selecting individual managers specifically for their demonstrated levels of global awareness

Protectionishm

Nations utilize legal, exchange, and psychological barriers

Which of the following is most likely to be recorded on the minus side of the US balance of payments?

New overseas investments

Domestic Environment Uncontrollables

Political/legal forces Competition Economy Note: uncontrollable elements call for a need for adaptation to the environment

The Fundamental Question of International Marketing

Should the approach...? - stay the same - be modified - be new

Balance of Payments

System of accounts that records a nation's international financial transactions

International Marketing can be defined as

The performance of business activities to sell a company's goods and services for profit in more than one nation

A _____ is the system of accounts that records a nation's international financial transaction

balance of payments

In general, tariffs restrict _____

choices available to consumers

Elements such as structure of distribution and cultural forces are regarded as _____

foreign environment uncontrollable

A company whose products reach markets even though the company is not actively involved in cultivating customers outside the national boundaries at ____ stage of international marketing

no direct foreign marketing

Unlike domestic marketing, international marketing involves activities that

take place in more than one country