MKTG 445 - Global Marketing Exam 1

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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


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