Question 1

Success in global markets depends on systematic and rigorous analyses. Which of the following is NOT one of the analyses commonly used?

Accepted Answer

Financial Instruments Analysis is not commonly used as a primary tool for assessing global market success. PESTEL, Five-forces Analysis, SWOT, and Value Chain Analysis are more directly related to understanding market dynamics, competitive environment, internal strengths and weaknesses, and the value creation process.

Question 2

Statistical measures help create a basis for comparison amongst countries used by global marketing managers. In addition to standard measures like balance of trade and related areas, one of the newer measures being used is:

Accepted Answer

Gross National Happiness is a newer measure being used to compare countries, focusing on the holistic well-being of a population rather than just economic or material wealth. This concept, originating from Bhutan, is gaining attention globally as an alternative or complementary measure to GDP and other economic indicators.

Question 3

One of the international trade theories seeking to deal with the current state of global trade is New Trade Theory, which includes as one of its distinctive key features:

Accepted Answer

New Trade Theory suggests that being an early entrant in a market can provide significant competitive advantages, such as economies of scale and market dominance, which are not explained by traditional trade theories.

Question 4

Which of these is NOT one of the four basic economic systems?

Accepted Answer

The four basic economic systems are traditional, market, command, and mixed. A "transitional economic system" is not classified as one of the basic types; it refers to economies transitioning from one type to another, often from command to market systems.

Question 5

Among the Asian first tier newly industrialized economies (NIE) identified in the text are the Republic of Korea, Taiwan Province of China, Hong Kong (China Special Administrative Region), and ___________________:

Accepted Answer

Singapore is recognized as one of the Asian first-tier newly industrialized economies (NIEs), alongside the Republic of Korea, Taiwan Province of China, and Hong Kong (China Special Administrative Region). These economies are characterized by their rapid industrialization and significant economic growth over the past few decades.

Question 6

Countries tend to go through roughly the same pattern when transitioning from a poor to rich economy. One of the most pertinent classifications of this evolution is the one by the World Bank using gross national income (GNI). Which of the following is NOT one of these classifications?

Accepted Answer

The World Bank classifies economies based on GNI per capita into high-income, upper-middle-income, lower-middle-income, and low-income categories. "A pre-eminent income economy" is not a classification used by the World Bank.

Question 7

High tech markets are characterized by all of the following except:

Accepted Answer

High tech markets are typically characterized by being highly dynamic, complex, risky, and fast-moving due to rapid technological advancements and changes in consumer demands. The term "exiguous," meaning very small in size or amount, does not generally describe high tech markets, which can be expansive and involve significant investment and growth potential.

Question 8

Rosen, Schroeder, and Puriton suggest that companies may reduce the risk of market failure when introducing high-tech products by taking all the following steps EXCEPT for:

Accepted Answer

Appealing to the largest market segment of a combination of both the early and late majority is not suggested as a step to reduce the risk of market failure for high-tech products. Instead, focusing on innovators and early adopters is more effective in the initial stages.

Question 9

Transnational corporations _________________.

Accepted Answer

Transnational corporations own a significant portion of the world's private assets, with estimates suggesting they control more than one-third. These corporations operate across multiple countries, making them major players in the global economy.

Question 10

By definition, the Green Economy seeks to be all EXCEPT one:

Accepted Answer

The Green Economy aims to be environmentally sustainable, socially just, locally rooted, and adopting of clean technology, but it does not seek to be marginalized. Instead, it aims for widespread adoption and integration into mainstream economic practices.

Question 11

Many consumers will say that they are interested in buying green products, but these intentions don't always mean sales. What's wrong with "green" products and what can the marketer do to address these issues?

Accepted Answer

The answer of Many consumers will say that they are...

Question 12

It is important for marketers to use all components of PESTEL when comparing markets in other countries. Take electric cars as an example, and explain what the marketer could learn in each of the six areas.

Accepted Answer

The answer of It is important for marketers to use...

Quiz 2: Assessing the Global Marketing Environmentthe Global Economy and Technology