Marketing 303-Chapter 8

Global businesses often find it particularly difficult to understand the __________ of a country's culture.

underlying values

Which of the following is a potential negative factor for foreign investment in China?

China's population is aging and likely tp continue to do so for many years

Which country has embraced market-oriented economic development in spite of maintaining communist political ideals?

China

When the value of the dollar declines in relation to other currencies, it benefits U.S. marketers who

Export goods to other countries

When entering a foreign market, the least risky strategy is

Exporting

Which of the following is currently a negative factor for foreign investment in India?

India's retail environment lacks modern supply chain management facilites and systems.

Why should marketers be aware of the BRIC countries?

They are likely to be the source of most market growth.

To determine the market potential for its particular product or service, a firm should use

as many metrics as it can obtain.

Once a firm has done an analysis of the most viable markets for its products, then it must next

conduct an internal assessment of its capabilities

Brands can be extremely valuable domestically, but challenging internationally. Companies can help overcome language difficulties in using brands by

developing brand names that have no preexisting meaning in any known language.

NCD Company wants to expand into the Mexican market. It has the financial resources, wants to control business operations, and has had considerable success marketing to Hispanics in the United States. NCD will likely use __________ to expand into the Mexican market.

direct investment

Changes in tariffs and quotas are

government actions that reduce competition from international firms.

Tariffs protect domestic producers by

making imported products more expensive.

Global pricing strategies should strive to be consistent with

positioning strategies

Tariffs, quotas, and currency exchange policies affect global

pricing strategies

A ________ limits the quantity of imported merchandise, thus minimizing competition faced by domestic products.

quota

If you visit a Kentucky Fried Chicken restaurant in China, along with KFC's regular menu items, you will find congee, a rice porridge that can feature pork, pickles, mushrooms, and preserved egg, on the menu. This is an example of which global product strategy?

sell totally new products or services

Marketers considering operations and trade with a specific country must consider whether or not the country belongs to a trading bloc. A trading bloc is a group of countries

that have established a formal agreement to manage trade activities.