Int. Marketing Exam 2
ASEAN+3
A forum for ministers of the Association of Southeast Asian Nations plus ministers from China, Japan, and South Korea.
Japan
ASEAN+3 consists of the members of ASEAN plus South Korea, China, and
strategic international alliance (SIA)
A business relationship established by two or more companies to cooperate out of mutual need and to share risk in achieving a common objective
Parallel translation
A method of translation in which two translators are used to make a back translation; the results are compared, differences are discussed, and the most appropriate translation is used. The method addresses the use of common idioms in the languages being translated.
ASEAN (Association of Southeast Asian Nations)
A multinational regional trade group including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.
sell into the global market
Access to the Internet in emerging economies has enabled small firms to
customs union
A stage in economic cooperation that benefits from a free trade area's reduced or eliminated internal tariffs and adds a common external tariff on products imported from countries outside the union
tactical planning
A type of planning that pertains to specific actions and to the allocation of resources used to implement strategic planning goals in specific markets; also known as market planning; generally conducted at the local level.
Free Trade Area (FTA)
A type of regional cooperation that involves an agreement between two or more countries to reduce or eliminate customs duties and non-tariff trade barriers among partner countries while members maintain individual tariff schedules for external countries. An FTA requires more cooperation than the arrangement known as the regional cooperation for development
AFTA
ASEAN (Association of Southeast Asian Nations) Free Trade Area: a multinational trade group that evolved from ASEAN
shortage of resources
According to Jagdish Sheth, what is one crucial weakness that is driving the need for different thinking in emerging markets?
licensing
An American fabric manufacturing company sells its products to Big Box Store, a Japanese retailer. Big Box Store retails these products. Which form of entry best describes the strategy that the American company is engaged in?
common market
An agreement that eliminates all tariffs and other restrictions on internal trade, adopts a set of common external tariffs, and removes all restrictions on the free flow of capital and labor among member nations.
Single European Act
An agreement, ratified in 1987, designed to remove all barriers to trade and to make the European Community a single internal market
medium value-added industries
At present, which industry accounts for the majority of Shanghai's industrial employment?
free trade area
At which level of economic integration do member countries maintain individual tariff schedules for external countries but reduce customs duties and nontariff trade barriers among themselves?
developing the marketing plan
Brenden's Coffee, a coffee chain, has recently decided on the mode of entry into a particular market. Which phase of the planning process is the coffee chain currently in?
primary
Chun Hei is carrying out a marketing research study. Even after seeking all reasonable available secondary data sources, she has not been able to adequately answer the research questions. In such a situation, Chun Hei must collect________ data
secondary
Colleen didn't have a lot of time to conduct her marketing research, so she went to the library to see what data she could find from available sources. Colleen is using_____ data sources for her research
newly industrialized countries (NICs)
Countries that are experiencing rapid economic expansion and industrialization
Primary data
Data collected, as in market research, specifically for a particular research project.
Franchising provides an effective blending of skill centralization and operational decentralization
Doreen is looking into franchising in a foreign country. What should she be aware of when making her decisions?
decades
Economic development today is defined in terms of
Purchase Price Parity (PPP)
GDP at PPP corrects GDP for differentials across countries in the costs of consumer purchases. The PPP correction allows for direct comparisons of the overall well-being of consumers across countries.
Economic Devlopment
Generally, an increase in national production that results in an increase in average per capita gross domestic product (GDP) or gross national income (GNI)
South Korea
Hyundai, Kia, Samsung, and Lucky-Goldstar (LG) are among the familiar brand names in automobiles, microwaves, and television from
it carries a lower risk than other modes of foreign-market entry
Identify the true statement about indirect exporting
Marxist-socialism to capitalism
In Eastern Europe, countries are trying to move from
the lack of sufficient demographic data from which meaningful samples can be drawn
In the international arena, what poses the greatest problem in sampling?
Multicultural research
Inquiry, analysis, and study of more than two countries and cultures that take into account differences in language, economic structure, social structure, behavior, and attitude patterns. Different methods of research may have varying reliability in differet countries.
Phase 4
Ladies Nights, a lingerie company, has developed a marketing plan for its target market. Budgets, sales, and profit expectations have been penciled out. Now, Ladies Nights has begun to implement its specific plans and its anticipating great success in its chosen market, Which of the following phases of the international marketing process is Ladies Nights currently in?
the World Trade Organization
Mainland-Taiwanese economic relations continue to improve as both have entered
conducting his planning at the highest levels of management
Marco is conducting strategic planning, which means that he is
sourced locally
Most of what Walmart sells in China is
reducing interregional trade and tariff barriers
Multinational market regions include countries that seek mutual economic benefit from
is used to formulate and define a problem more clearly
Qualitative research
The Greater China
Refers the both the People's Republic of China (PRC or Mainland China) and the Republic of China (Taiwan)
Four Asian Tigers
Refers to Hong Kong, Taiwan, Singapore, and South Korea as they fast achieved affluence in the 1980s and 90s.
APEC
The Asian-Pacific Economic Cooperation; a forum that meets annually to discuss regional economic development
Coal and Steel
The European________ Community was the first institution that was created to restore prosperity, stability, and peace in Europe after World War II
European Union
The Institutions of the____ consist of executive, parliamentary, and judicial branches
corporate planning
The formulation of long-term, generalized goals for an enterprise as a whole.
European Parliament
The legislative body of the European Union, similar in concept to the U.S. House of Representatives. That is, more populous countries have more representatives.
small scale to mass production
The manufacturing stage of the marketing process as it evolves in a growing economy includes substages that range from
Back translation
The process in which a document, such as a questionnaire, or phrase is translated from one language to another and then translated by a second party into the original language. Can be used to verify that the first translation, as of a marketing slogan, has the intended meaning for the target audience.
Research process
The process of obtaining info; it should begin with a definition of the research problem and establishment of objectives, and proceed with an orderly approach to the collection and analysis of data
Marketing research
The systematic gathering, recording, and analyzing of data to provide info useful in marketing desicion making
indirect exporting
The type of exporting in which a company sells to a buyer (an importer or distributor) in the home country; the buyer in turn exports the product.
direct exporting
The type of exporting in which a company sells to a customer in another country.
European Parliment
The________, a provision of the Maastricht Treaty, established the parameters of the creation of a common currency for the European Union, the euro, and established a timetable for its implmentation
Bottom-of-the-pyramid markets (BOPMs)
These consist of the 4 billion people around the world with annual incomes of $1,200 or less per capita. They are not necessarily defined by national borders, but are rather pockets of poverty particularly concentrated in south Asia and sub Sahara Africa
Maastricht Treaty
Treaty signed by 12 nations of the European Community creating the European Union.
Amsterdam Treaty
Treaty, concluded in 1997, that addressed issues left undone by the Maastricht Treaty & identified priority measures necessary to bring a single market in Europe fully into effect & to lay a solid foundation for both a single currency & an enlargement of the European Union into central & eastern Europe.
Big Emerging Markets (BEMs)
Used to describe the core group of populous nations that will account for much of the growth in world trade among developing and newly industrialized countries.
global integration versus local responsiveness
What best describes the view toward market segmentation in the 1990s?
a company manufacturing fiber optics
What company is most likely to have a direct sales force in the foreign country where it intends to sell its products?
the dissolution of the Soviet Union into Independent states
What demonstrates the importance of market potential being viewed in the context of the world rather than country by country?
comparability of data
What is a problem that is most commonly associated with the use of secondary data?
the development and enlargement of markets
What is the basic orientation for every type of economic union?
A questionnaire is translated from one language to another, and then a second party translates it back into the original, and the two original language versions are compared.
What is the process of back translation?
They are often associated with violence
What is true about least-developed countries (LDCs)
The Chinese legal system is perceived by American companies to be efficient in providing legal protection
What is true of China?
Economic, political, geographical, and cultural factors are important for the success of an economic union
What is true of economic groups?
The European Union, European Economic Area, and the European Free Trade Area (EFTA) are the most established cooperative groups in Europe
What is true of the existing multinational market groups?
expert opinion
What method of demand forecasting is particularly suited to international marketing, particularly when the foreign country is new to the marketer?
reparations from the Vietnam War
What occurred that caused tariffs imposed on Vietnam by the US to go from 40 percent less than 3 percent?
consider the costs and benefits of the research effort
What should marketing researchers do once they have determined the sources of info to fulfill the research objectives
They are designed to encourage sharing of experience, resources, and expertise among global business units
What statement is true regarding the matrix structures?
quantitative research
What type of research usually involves a large number of respondents who are asked to reply, either verbally or in writing, to structured questions using a specific response format or to select a response from a set of choices?
cultural, sociological, and political climate
When assessing a foreign market, Unisys Corporation undertakes a general, noneconomic review of conditions affecting the business, including safety and leisure time. This demonstrates a focus on the
the United Nations
Which organization classifies a country's economic development and groups countries into three categories that includes more-developed countries, less developed countries, and least developed countries?
are the data internally consistent in light of known data sources?
Which question should be asked by a marketing researcher when trying to establish the reliability of secondary data sources in the international arena?
the Pearl River Delta
Which region in China is the world's manufacturing base for the IT industry?
Mercosur
______, the second largest common market agreement in the Americas, calls for a common market that would eventually allow for the free movement of goods, capital labor, and services among the member countries, with a uniform external tariff, with no central isntitutions.
licensing
a contractual means by which a company grans patent rights, trademark rights, and the rights to use technology to another company, often in a foreign market; a favored strategy of small and medium-sized companies seeking a foothold in foreign markets without making large capital outlays
franchising
a form of licensing in which a company (the franchiser) provides a standard package of branded products, systems, and management services to the franchisee, which in foreign markets has market knowledge. Permits flexibility in dealing with local market conditions while providing the parent firm with a degree of control.
political union
a fully integrated form of regional co-operation that involves complete political and economic integration, either voluntary or enforced; the most notable example was the now-disbanded Council for Mutual Economic Assistance (COMECON), a centrally controlled group of countries organized by the Soviet Union
Expert opinion
a method of market estimation in which experts are polled for their opinions about market size and growth rates; used particularly in foreign countries that are new to the marketer
Analogy
a method of market estimation that assumes that demand for a product develops in much the same way in all countries as comparable economic development occurs in each country.
decentering
a method of translation, a variation on back translation, that i a successive process of translation an retranslation of a document, such as a questionnaire, each time by a different translator. The two original-language versions are then compared, and if there are differences, the process is repeated until the second original-language versions is the same as the first.
joint venture
a partnership of two or more participating companies that join forces to create a separate legal entity
triangulation
a term borrowed from naval charting meaning using at least three differing measures of the same concept to verify the accuracy of any one method
strategic planning
a type of planning conducted at the highest levels of managment, dealing with products, capital, and research and the long- and short-term goals of a company.
Secondary data
data collected by an independent agency or individual other than the firm conducting research; often useful in market research
Multinational market regions
groups of countries that seek mutual economic benefit from reducing interregional trade and tariff barriers
Honduras
is a member of the free trade agreement DR-CAFTA
Brazil
is a member of the free trade group Mercosur.
APEC
is a unique forum that has evolved into the primary regional vehicle for promoting trade liberalization and economic cooperation in the Asia-Pacific region
face-to-face communication opportunites
researchers have discovered a number of factors that are associated with better communication within multinational companies, including
Infrastrucutre
the collective assortment of capital goods that serve the activities of many industries and support production and marketing
International marketing research
the form of marketing research involving two additional considerations: (1) the need to communicate info across national boundaries and (2) the challenge of applying established marketing techniques in the different environments of foreign markets, some of which may be strange or vexing milieus for the marketer
primary
what is a new and growing area of concern that limits the availability of data today?
qualititative research
what type of research is used in developing research hypotheses tat can be tested in subsequent studies designed to quantify research?
trends of the past may not continue in the future
when he was unable to find the statistics he needed for his report on market demand, Raphael decided to estimate based on historical and current data and trends reported by the UN. One problem with this is
Entrepreneurship
which indicates free enterprise in the hands of the self-employed, was a contributory factor to the economic growth of newly industrialized countries (NICs)