Question 1

Khokho's Coffee House is the first to introduce flavored coffee in the global market.It sells coffee in several different flavors,such as blueberry,cinnamon,and cranberry,based on the popular flavors in each country.Based on this information,Khokho's Coffee House uses__________to market its products.

Accepted Answer

The answer of Khokho's Coffee House is the first to...

Question 2

Write a note on the economic factors that influence the external business environment.

Accepted Answer

The answer of Write a note on the economic factors...

Question 3

​Melrow Inc. ,a U.S.firm,suffers heavy losses and lays off many of its employees.As a measure to reduce its manufacturing costs,it shifts its production units to another country where inexpensive labor is available.In this scenario,Melrow Inc.is engaged in _____.
A)licensing
B)​outsourcing
C)​franchising
D)inshoring

Accepted Answer

Melrow Inc. is shifting its production units to another country to reduce its costs, which is known as outsourcing. Licensing involves allowing another company to use its intellectual property, franchising involves allowing another company to use its business model and branding, and inshoring involves bringing production back to the company's home country.

Question 4

Fashion Spell,an apparel store,has a page on Facebook through which it interacts with its customers.It encourages customers to post comments about the store and give feedback.It also holds a lucky draw competition every week and the winner receives a gift voucher from Fashion Spell.Given this information,Fashion Spell uses__________to increase its customer base.

Accepted Answer

The answer of Fashion Spell,an apparel store,has a page on...

Question 5

What are the benefits of globalization?

Accepted Answer

The answer of What are the benefits of globalization?...

Question 6

Why do firms that enter into foreign trade need to adhere to the principles of the marketing mix?

Accepted Answer

The answer of Why do firms that enter into foreign...

Question 7

Vimonland Theme Park sells the necessary rights to an investment company to run a Vimonland theme park in a foreign country.The investment company gains most of the profits from the enterprise while paying Vimonland Theme Park a percentage as royalties.This is an example of__________.

Accepted Answer

The answer of Vimonland Theme Park sells the necessary rights...

Question 8

__________is the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter.

Accepted Answer

The answer of __________is the sale of an exported product...

Question 9

Explain with an example the major role played by social media in global marketing.

Accepted Answer

The answer of Explain with an example the major role...

Question 10

​The practice of returning production jobs to the United States is known as _____.
A)outsourcing
B)​international franchising
C)​licensing
D)inshoring

Accepted Answer

Inshoring or reshoring is the practice of bringing back production jobs to the United States, contrary to outsourcing.

Question 11

​The primary reason large U.S.companies send U.S.jobs abroad is because labor costs are higher in the United States.Such companies are said to be engaging in _____.
A)employee export
B)​outsourcing
C)​inshoring
D)joint ventures

Accepted Answer

Outsourcing refers to the practice of hiring a company from outside of the organization to perform services or make products that the organization may otherwise have made internally. In this case, the large U.S. companies are outsourcing jobs to foreign countries to reduce labor costs.

Question 12

D Feet Corp.manufactures its footwear in a small town in America,but it sells to several countries around the world.Given this information,D Feet Corp.can best be characterized as a__________multinational corporation.

Accepted Answer

The answer of D Feet Corp.manufactures its footwear in a...

Question 13

__________are trade alliances in which several countries agree to work together to form a common trade area that enhances trade opportunities among those countries.

Accepted Answer

The answer of __________are trade alliances in which several countries...

Question 14

​A company is most likely doomed to failure in a foreign country if it _____.
A)does not understand the country's culture
B)​does not emphasize its home country's language over that of the country
C)​varies its marketing mix based on the country's economic growth
D)pays attention to the country's demographics

Accepted Answer

Understanding a country's culture is crucial for success in foreign markets. Ignorance of cultural norms can lead to offending local people, which will negatively impact business relationships and lead to failure.

Question 15

Currency markets operate under a system in which the prices of different currencies move up or down based on the demand for and supply of each currency.This is the system of__________.

Accepted Answer

The answer of Currency markets operate under a system in...

Question 16

​Irving Inc. ,an apparel company,decides to expand operations to several countries around the world.However,it fails to take into account the various styles of clothing that are deemed acceptable in these countries.It sells the same clothes that it sells in its home country to the other countries.As a result,it suffers a major loss.In this scenario,Irving Inc.failed to be sensitive to the _____ of the countries.
A)economic factors
B)​legal environments
C)​cultural aspects
D)political forces

Accepted Answer

The scenario suggests that Irving Inc. failed to take into account the various styles of clothing that are deemed acceptable in the countries where it expanded operations. This suggests that the company did not consider the cultural aspects of the countries, which ultimately led to a major loss.

Question 17

The practice of returning production jobs to the United States is known as__________.

Accepted Answer

The answer of The practice of returning production jobs to...

Question 18

​D Feet Corp.manufactures its footwear in a small town in America,but it sells to several countries around the world.Given this information,D Feet Corp.can best be characterized as a _____ multinational corporation.
A)first-stage
B)​second-stage
C)​third-stage
D)fourth-stage

Accepted Answer

A first-stage multinational corporation is one that manufactures its products in one country but sells them in multiple countries.

Question 19

A small U.S.print studio uses Facebook and Pinterest to promote its stationery and other products.The regular posts and reviews from customers have attracted the attention of several companies worldwide who like to customize their office stationaries and supplies.This is an effect of__________.

Accepted Answer

The answer of A small U.S.print studio uses Facebook and...

Question 20

Identify a few disadvantages of global trade.

Accepted Answer

The answer of Identify a few disadvantages of global trade....

Quiz 5: Developing a Global Vision

Write a note on the economic factors that influence the external business environment.

​Melrow Inc. ,a U.S.firm,suffers heavy losses and lays off many of its employees.As a measure to reduce its manufacturing costs,it shifts its production units to another country where inexpensive labor is available.In this scenario,Melrow Inc.is engaged in _____.

What are the benefits of globalization?

Why do firms that enter into foreign trade need to adhere to the principles of the marketing mix?

Vimonland Theme Park sells the necessary rights to an investment company to run a Vimonland theme park in a foreign country.The investment company gains most of the profits from the enterprise while paying Vimonland Theme Park a percentage as royalties.This is an example of__________.

__________is the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter.

Explain with an example the major role played by social media in global marketing.

​The practice of returning production jobs to the United States is known as _____.

​The primary reason large U.S.companies send U.S.jobs abroad is because labor costs are higher in the United States.Such companies are said to be engaging in _____.

D Feet Corp.manufactures its footwear in a small town in America,but it sells to several countries around the world.Given this information,D Feet Corp.can best be characterized as a__________multinational corporation.

__________are trade alliances in which several countries agree to work together to form a common trade area that enhances trade opportunities among those countries.

​A company is most likely doomed to failure in a foreign country if it _____.

Currency markets operate under a system in which the prices of different currencies move up or down based on the demand for and supply of each currency.This is the system of__________.

The practice of returning production jobs to the United States is known as__________.

​D Feet Corp.manufactures its footwear in a small town in America,but it sells to several countries around the world.Given this information,D Feet Corp.can best be characterized as a _____ multinational corporation.

A small U.S.print studio uses Facebook and Pinterest to promote its stationery and other products.The regular posts and reviews from customers have attracted the attention of several companies worldwide who like to customize their office stationaries and supplies.This is an effect of__________.

Identify a few disadvantages of global trade.

Melrow Inc. ,a U.S.firm,suffers heavy losses and lays off many of its employees.As a measure to reduce its manufacturing costs,it shifts its production units to another country where inexpensive labor is available.In this scenario,Melrow Inc.is engaged in _____.

The practice of returning production jobs to the United States is known as _____.

The primary reason large U.S.companies send U.S.jobs abroad is because labor costs are higher in the United States.Such companies are said to be engaging in _____.

A company is most likely doomed to failure in a foreign country if it _____.

D Feet Corp.manufactures its footwear in a small town in America,but it sells to several countries around the world.Given this information,D Feet Corp.can best be characterized as a _____ multinational corporation.