MKTG 2302 Exam Review 2
Identify an accurate statement about organizations operating in multinational markets.
Companies may meet standards of one member country but not of the entire economic union.
Which of the following phenomena were not mentioned as political and/or economic changes that are affecting global marketing?
Greater rights for women in many foreign countries and Brexit
Which of the following was not specifically mentioned as a source of the heritage of one of the four main legal systems
Hammurabi
) What is a characteristic impact of privatization of state-owned enterprises?
It often leads to new economic growth
Identify a feature of quantitative research.
It provides marketers with responses that can be processed into estimates.
Due to the Foreign Corrupt Practices Act (FCPA), U.S. businesses must resort to bribery in order to survive in the most corrupt societies.
Reason: This statement is false. Although bribery still occurs on occasion, most U.S. firms have been able to compete in the most corrupt societies without resorting to bribery.
Which one of the following is not designated as an Economic Growth Factor?
Strategically targeted high tariffs
Relations between governments and MNCs are generally positive if the investment
transfers capital, technology, and skills
The parameters for the creation of the euro for the European Union were established by _____.
the Economic and Monetary Union
Which trade bloc has engaged in negotiations with the European Union to create the largest free trade area in the world?
the Southern Cone Free Trade Area
One of the most common mistakes among economic planners is
thinking distribution of goods is not as important as the production of them.
What is one of the main political causes of instability in international markets
trade disputes
Egypt and Morocco have ratified an agreement to form the _____.
Greater Arab Free Trade Area
The most universal survey research problem in foreign countries is the ________ barrier.
language
) A country that is industrially underdeveloped, agrarian, has a subsistence society with rural populations, and has extremely low per capita income levels falls under the category of
least-developed countries
The greatest risk to firms that make foreign investments is
Confiscation
Identify a way in which multinationals can reduce their political vulnerability and risk when doing business in host countries
By engaging multiple investors and banks in the investment
Similarity of cultures can make or break an economic union. Although there is great cultural diversity in the European Union, key members share ________ and are commonly aware of being European.
) a long-established Christian heritage
According to the U.S. Department of Commerce, Latin American and other emerging markets will account for ________ of the world's total growth in the next two decades and beyond.
75%
What would not be considered as a source of secondary data for a current marketing research project?
A planned telephone survey of existing customers
The continent with the most nations closest to becoming "failed states" is
Africa
Which of the following statements are false?
All exports from US companies require some type of license, National security restrictions on exports from the US only apply to products that may be used to create weapons of mass destruction (WMDs), The foreign purchaser of any product purchased from a US firm is responsible for determining if an export license is required
How do big emerging markets (BEMs) differ from other developing countries with economies of similar size?
BEMs import more goods.
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What are the four main legal systems
Common law, civil or code law, Islamic law, commercial legal law
The progress in Latin American countries is marked by
Governments transferring their enterprises to privately owned companies
Which form of terrorism is most likely to use the internet to inflict damage
Cyber terrorism
Each of the following were described as challenges for marketing researchers to overcome in collecting primary data in foreign countries except __________
Demands from foreign leaders for greater compensation for their citizens to participate in surveys
According to ancient Greeks, what fundamental government form represents rule by many?
Democracy
What principle U.S. agency supports U.S. businesses abroad
Department of Commerce
Which of the following are problems associated with conducting marketing research in different countries?
Different emphases on information Difficulty in implementing the research process Cross-cultural communication Limited availability of appropriate research tools
Name the regional cooperative group formed by Iran, Pakistan, and Turkey.
Economic Cooperation Organization
In Japanese corporate culture, which action is most likely to constitute a typical significant impediment to averting and responding to a crisis?
Employees who are lower in the hierarchy find it hard to question their superiors.
Regional Trade agreements, such as Mercosur, DR-CAFTA, USMCA (formerly NAFTA), LAIA, and CARICOM apparently share all of the following as common goals except __________ and ___________?
Establishment of a common currency and Adoption of protectionist measures to deter trading with the European Union
Of all the multinational market groups, none has been more secure in its cooperation or more important economically than the
European Union
Complaining to the authorities in a host nation is frequently the most effective means for firms to use to counteract instances of piracy and counterfeiting
False
Laws designed to control cyber crimes against businesses are frequently regarded as being ahead of their time. In other words, they accommodate future developments very well
False
Nationalism refers to ones country's hostility toward and fear of another specific country
False
Sanctions against other countries are frequently effective
False
The world court at the hague has jurisdiction over legal disputes between a company and a foreign government
False
The European Union's existence has been characterized by steady expansion.
False because Although true until recently, Great Britain's exit (Brexit) is a significant loss since it is one of the most highly developed economies in the world. Other nations, such as Greece, have strongly considered leaving the EU, while other nations seek membership.
Lack of a well-developed infrastructure in a foreign country can easily be overcome by a competent marketing manager.
False because Poorly developed infrastructures can hamper distribution (place) and promotion which are both critical aspects of a marketing mix.
Since humans are always at the center of marketing activities, problem definition for marketing research is relatively simple.
False because The foreign environments and cultures add more complexity to problem definition compared to domestic research projects.
Marketing managers need not be concerned with the stage of economic development a country is classified in. People are people, so the environment for marketing exchanges to take place remains constant across cultures.
False because the level of economic development in a country is the most important variable affecting marketing plans
Typically, only primary data in foreign countries is affected by issues such as word meanings, attitudes of consumers, tradition, and culture.
False, These issues can affect secondary data also.
Due to globalization, and the internet as a tool for immediate communication and dissemination of information, compatible time zones have little influence on trading relationships between countries.
False, Time zones compatibility is the single most important factor in trade relationships between nations
The _________ of the United States makes it illegal for companies to pay bribes to foreign officials, candidates, or political parties.
Foreign corrupt practices act
The North American Free Trade Agreement aimed to ultimately establish the
Free Trade Area of the Americas.
Which country has enacted the most stringent green marketing laws to regulate the management and recycling of packaging waste?
Germany
Identify a difference between common law and code law.
In the context of performance of a contract, code law extends acts of God to include include unforeseeable human acts, whereas common law does not.
Identify an advantage of integrating the countries of Europe into the European Union.
Increased competition among retailers
How has the North American Free Trade Agreement benefited its signatories?
It has attracted foreign investors to all member countries.
How does the European Court of Justice affect the European Union?
It helps to eliminate nontariff trade barriers among member states.
Identify an accurate statement about the Commonwealth of Independent States.
It is a loose political union with open borders.
Identify a feature of code law.
It is based on tradition, past practices, and legal precedents set by the courts.
Which of the following statements are true regarding cyber terrorism?
It is difficult to determine the source of these attacks and political punishment is often a reason for these occurrences
Which of the following is true of e-commerce?
It is difficult to establish the contractual validity of electronic communications.
Identify a function of the European Parliament.
It is involved in the expenditures made by the European Union.
Identify the features of the U.S. antiboycott law. (Check all that apply.)
It requires U.S. companies to report any requests for participation in a boycott. It prohibits U.S. companies from taking part in foreign boycotts not sanctioned by the U.S. government.
Identify the requirements of the Trade-Related Aspects of Intellectual Property Rights (TRIPs) agreement. (Check all that apply.)
It requires participating members to comply with the minimum intellectual property rights standards by 2006 and It requires participating members to establish procedures for enforcing IP rights.
Which of the following is a feature of qualitative research?
It uses open-ended questions to seek in-depth responses.
What is a consequence of the creation of large mass markets?
It will increase the significance of small national markets.
How have member countries of economic unions been affected by nontariff trade barriers?
Lower-priced products were prevented from entering markets where higher prices were charged.
Five weaknesses that indicate need for adjustment in emerging markets
Market heterogeneity, sociopolitical governance, unbranded competition, chronic shortage of resources, inadequate infrastructure
Which of the following is not mentioned as a means to resolve disputes
Meditation and negotiation
_________ is a free trade group that includes 200 million people, and was formed by Argentina, Brazil, Paraguay, and Uruguay.
Mercosur
Which of the following nations' economies in the Americas would likely be classified as Newly Industrialized Countries (NICs)?
Mexico, Brazil, and Chile because The United States and Canada are both highly developed economies, classified by the UN as Most Developed Countries. Cuba and Venezuela could be classified as Less Developed or Least Developed Countries at this time. Chile, Brazil, and Mexico are all growing rapidly and industrializing rapidly. they clearly fit the definition of Newly Industrialized Countries.
________ required the United States, Canada, and Mexico to remove all tariffs and trade barriers over 15 years, and beginning in 2008, all tariff barriers were officially dropped.
NAFTA
Which of the following are mentioned as reasons for political instability
Nationalism, political shift during elections, trade disputes
Identify the remedies available to American companies to combat violations of intellectual property rights.
Negotiate and pursue alternative methods of resolving disputes. Notify the local authorities. Register IP with appropriate agencies in the host country. Register a complaint with the U.S. government and World Trade Organization.
Name the common market comprising Islamic countries and led by Iran.
Organization of the Islamic Conference
Which of the following statements are true about economic unions?
Participants receive favorable tariff treatment, Economic development for member nations is stimulated, They are typically formed in response to external threats, Member nations are usually in compatible time zones
Which of the following is the least recommended approach to avoid political vulnerability and risk
Political payoffs
Identify the nucleus of the Islamic system of law
Prohibition of the receipt and payment of interest
Qualitative data can do all of the following except _______
Provide statistically valid conclusions
Piracy is always harmful to a company
Reason: This statement is false. Recent research implies that for companies like Microsoft, some level of piracy actually can serve the company. It can be seen as a kind of product trial that ultimately builds commitment.
Which of the following are a pattern of economic cooperation?
Regional Cooperation Groups, Free Trade Area, Customs Union, Common Market, Political Union
Identify a factor that has contributed to South Africa's economic growth.
Removal of economic embargo
Political and Social Activists do each of the following except
Seek to enrich their organizations
Which of the following statements are false?
Since the fall of communism, all nations formerly under the influence of the USSR have prospered greatly. and Most countries formerly under communist control in Eastern Europe face very similar situations.
) ________ has the potential to become the newest BEM, but its development will depend on government action and external investment by other governments and multinational firms.
South Africa
Name the treaty that increases the authority of the institutions of the European Union.
The Amsterdam Treaty
Which institution of the European Union initiates policies and oversees their adoption by member states?
The European Commission
Which European Union institution can amend and adopt legislation but cannot initiate it?
The European Parliament
What was a customs union before becoming a common market?
The European Union
Which of the following statements are true?
The European Union is attempting to standardize laws across member nations, Germany has the strictest laws regarding environmental concerns, many nations are studying the US in terms of passing and enforcing anti-trust laws in order to pattern their actions after those of the US
Identify an accurate statement about international marketing research.
The research processes and methods used across countries are basically the same.
Which of the following is the most advanced and viable of Africa's regional cooperative groups?
The Southern African Development Community
Identify a prerequisite for a successful economic union.
The benefits of economic integration should outweigh member countries' differences.
For a marketing researcher collecting secondary data, which of the following would typically not be cause for concern?
The expense involved in collecting the data and The time necessary to collect the data
Identify a provision of the Latin American Integration Association (LAIA).
The way member countries are treated depends on their economic status.
Identify the true statements regarding export licensing controls. (Check all that apply.)
They apply to re-exports of U.S.-origin commodities and technical data from a foreign destination to another foreign destination. They apply to exports of goods and technical knowledge.
Which of the following statements is true about political and social activists (PSAs)
They can be a strong force in marshaling public opinion
Identify a true statement about big emerging markets.
They spend a large amount of their income on imported products.
True or false: The Council of Ministers of the European Union requires a simple majority vote to amend tax rates on products and services.
This statement is false. The Council of Ministers can enact into law all proposals by majority vote except for changes in tax rates on products and services, which require a unanimous vote.
Identify an aim of multinational markets.
To protect businesses that operate within their borders
Identify a feature of the European Patent Convention (EPC).
Trademark protection lasts for 10 years.
Which one of the following is not mentioned as a pattern of economic cooperation?
Trans-oceanic treaty group
Which of the following treaties provided the legal basis for Mercosur?
Treaty of Asuncion
The European Union is responsible for challenging measures that violate the
Treaty of Rome.
A focus group is not ideal for collecting survey data.
True
A key concern when conducting multicultural research is to ensure the comparability and equivalency of results.
True
A key contribution of marketing to the growth of economies comes through its provision for efficient allocation of goods and services throughout the population.
True
A political union is the most integrated form of regional cooperation.
True
Economic development in Africa has been inconsistent, with sub-Saharan nations, such as South Africa, tending to be more successful than other nations.
True
Tangible goods are frequently victims of non-existent, week, or poorly enforced intellectual property laws
True
The European Union can trace its heritage back to a Customs Union.
True
The foreign corrupt practices act prohibits the payment of bribes by employees or agents of US firms wherever they conduct business
True
Marketers use three different techniques to ferret out translation errors in marketing research questionnaires ahead of time. What is one of these techniques?
back translation
True or false: Organizations that invest in production facilities in economic unions tend to benefit from protectionist measures.
True
True or false: The South African Development Community aims to phase out all tariffs on member states.
True
In which country is the ownership of IP rights established by prior use?
United States
Marketers seeking opportunities in the Europe/Africa/Middle East area should do which of the following?
View market integration positively.,For marketers of products aimed at ass consumption, view economically integrated areas as potentially lucrative markets., Consider foreign direct investment in some of these nations to enjoy some benefits of protectionist measures
The government of the United States is best described as
a democracy
Multinational market groups form
a large organization that promotes harmony by mutual agreement to a common peace treaty.
After a dispute arises between parties, the likelihood of securing agreement for arbitration increases when
a provision for arbitration of any dispute is incorporated as part of a contract.
South Africa has attracted foreign investors by _____.
addressing the issues of privatization
The Commonwealth of Independent States is
an economic and political alliance with open borders but no central government.
In a typical _____ procedure, parties select a disinterested and informed party or parties to serve as a referee to determine the merits of the case and make a judgement that both parties agree to honor under the law
arbitration
Eastern Europe and the Baltic states, satellite nations of the former Soviet Union, have moved steadily toward adopting aspects of
capitalism
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Which form of law is primarily found in the United States, England, Canada, and other countries once under English influence
common law
What method accounts for the majority of resolutions in international commercial transaction disputes
conciliation
What should an organization do once it has determined the sources of information to fulfill the marketing research objectives?
consider the cost and benefits of the research effort
Unlike common law, code law is
considered complete as a result of a catchall provisions found in most code-law systems
Which statement about domestication is correct
countries often require companies to become domesticated as a condition for investment
Multinationals can reduce their political vulnerability by
creating joint ventures with the host country of a third country
_____ buy and register descriptive nouns, geographic names, names of ethnic groups and pharmaceutical substances, and other similar descriptors and hold them until they can be sold at and inflated price
cybersquatters
Economic ________ refers to an increase in national production that is reflected by an increase in the average per capita gross domestic product or gross national income.
development
The level of market development roughly parallels the stages of economic
development
Unisys Corporation's international marketing research calls for collecting and assessing various types of information. Which of the following types of information is Unisys Corporation most likely to be interested in if it gathers information related to profitability for the division's products, inflation, business cycle trends, and the like?
economic and demographic data
A country's investment in information technology is a key to economic growth. Specifically, the Internet
enables smaller firms in emerging economies to sell into a global market.
The commercial-transition substage of marketing is primarily oriented toward
entrepreneurial and commercial activities.
The Economic and Monetary Union provision of the Maastricht Treaty established the parameters for the creation of the
euro
) The responsibility of determining if a license is required rests with the
exporter
When a government of a country seizes an investment but makes some reimbursement for the assets, it is engaged in
expropriation
When a government seizes an investment of a foreign investor but some reimbursement for the assets is made, the government follows a process called
expropriation
Which statement is true of islamic law
it addresses issues such as property rights and economic decision making
A sovereign nation is subject to its own law because of
its very existence
An agreement between two or more countries to reduce customs duties and nontariff trade barriers among member countries while they impose individual tariffs on goods from external countries is known as a _____.
free trade area
Member countries of an economic union must
have similar political aspirations.
The most noticeable difference between common-law and code-law systems is found in the laws governing
intellectual property
A political union
involves complete political and economic integration.
What strategy is used by multinational corporations to minimize political vulnerability and risk
licensing
In Thailand, it is required that any mild product sold in the country by a foreign company mist use the milk that is at least 50 percent produced by Thai dairy farmers. What economic risk is faced by the international producers of milk products in this situation?
local-content laws
In the context of international dispute resolution, conciliation is also known as
mediation
Common law
ownership is established by prior use
code law
ownership is established by registration
What commonly counterfeited product has the potential for doing the greatest harm to the consuming public?
pharmaceuicals
________ data refers to the data that are collected specifically for the particular research project at hand when research questions are still unanswered after seeking all reasonable secondary data sources.
primary
Economic planners are often more ________ oriented than marketing oriented.
production
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A sovereign state can
regulate who may enter and leave the state, reject applications for citizenship, regulate trade with foreign entities
What is most likely a problem associated with the use of secondary data?
reliability of data
) In the context of sources of data, commercial sources, trade associations, management groups, and state and local governments are examples of ________ data.
secondary
) Marco has decided to use information collected by other researchers in his upcoming research project on cultural trends. This is an example of using a ________ data source.
secondary
In the evolution of the marketing process, which marketing institutions are most likely to exist during the agricultural and raw materials stage?
small-scale merchants, traders, and fairs
In the context of international law, a ____ governs its own territory and may enter into agreements with other nations
sovreign
) At the most general level, ________ represents the most important and comprehensive trade agreement in history.
the WTO
Under the antiboycott law, U.S. companies are forbidden to participate in any unauthorized foreign boycott. Which situation brought about the antiboycott law in the U.S.?
the boycott of Israel by the arab league
Qualitative research studies
the dynamic interplay of peoples' feelings and ideas.
In the the context of the Foreign Corrupt Practices Act (FCPA), most experts agree that _____.
the majority of U.S. firms are operating within the law
Tania lives in an urban slum and earns minimum wages. To which market does Tania belong?
the transitional sector
