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Exam 8: Reaching Global Markets

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Question 71

Multiple Choice

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The degree to which a firm is able to "think globally, act locally" affects the success of the firm's _________________ strategy as it goes international.

A) localization
B) customization
C) globalization
D) nationalization
E) culturalization

F) A) and D)
G) D) and E)

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Question 72

Multiple Choice

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Southern Tier Industries has operations in more than 30 foreign countries. The headquarters in Atlanta controls the entire organization while offering subsidiaries the freedom necessary to achieve success in local markets. Southern Tier Industries is an example of a(n)

A) strategic alliance.
B) joint venture.
C) export-driven corporation.
D) multinational enterprise.
E) trading company.

F) A) and C)
G) None of the above

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Question 73

Multiple Choice

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The feasibility and degree of globalization is determined by the

Select the true statement.

Signature Cycles creates sleek and modern bicycles for commuters and cycling enthusiasts using the latest materials such as carbon fiber frames. Signature Cycles are relatively expensive, but its urban customers routinely pay $800 to $1,000 for the hand-crafted bicycles. The owners are considering expanding their company's footprint outside the United States and are considering opportunities to export its products to Canada and Mexico. They have learned that _______ eliminated virtually all tariffs on goods produced and traded among Canada, Mexico, and the United States.

If China, in an attempt to bolster the sales of its own auto manufacturers, decided to limit the number of automobiles that could be brought in from other countries, China would be using a(n)

The joint venture approach has little appeal to industries involved in extraction of natural resources.

A positive balance of trade is considered good because it means that U.S. dollars are supporting foreign economies at the expense of U.S. companies and workers.

Describe the difficulties encountered in standardizing the marketing mix globally.

GATT was based on negotiations between member countries to reduce worldwide tariffs and increase international trade.

What effect is NAFTA having on the international trade of the following countries: United States, Canada, and Mexico?

A business partnership between a domestic firm and a foreign firm is known as

Media allocation, retail outlets, and price are among the easiest marketing mix variables to standardize.

When products are introduced into one nation from another, acceptance is far more likely

John Deere, maker of large construction equipment in the United States, would like to better understand factors that would affect its ability to export its products to various countries. Which of the following forces determine how trade barriers affect John Deere's marketing efforts?

If John Deere wished to reach the market in Malaysia but was leery of a direct investment in the country, it might provide a Malaysian operation with the knowledge to produce and market its products in exchange for a commission. This type of arrangement is called

Counterfeit luxury goods are a major problem in some Asian countries. Women that purchase counterfeit bags feel a thrill when they are able to fool others into believing they own a luxury brand. However, the major reason for the deception is that people in those cultures place high value on luxury brands. By showing off the brand, these women are demonstrating that they can afford the best. The emphasis and value placed on status is an example of a(n) _________________.

Solar Sports is excited about expanding its export opportunities to Cuba, since the United States has renewed trade relations with Cuba, and plans to utilize a(n) _______, which links buyers and sellers in different countries but is not involved in manufacturing and does not own assets related to manufacturing.

An embargo occurs when a government suspends trade with a particular country.

The term dumping refers to the sale of