Question 1

Many countries base their court systems on those of former rulers or colonizers.For example,the Spanish ruled many South American countries for many years so the court system there is based on code or civil law.This would be identified in the _______ section of a global research report.

Accepted Answer

Local political changes can create significant uncertainties for a business. As witnessed in Bolivia and other countries, new governments sometimes alter the relationship of government to industry by exerting greater control and even nationalizing some industries.

Question 2

Mi Casa,a furniture maker in Peru,has received an e-mail from an interior decorator in Colombia asking the company to ship furniture to her clients.Mi Casa has shipped outside Peru only three times in the past.Mi Casa's position toward marketing is classified as _________________________.

Accepted Answer

Many companies with no direct foreign marketing still do business with international customers through intermediaries or limited direct contact. However there is no formal international channel relationship or global marketing strategy targeted at international customers. Any sales to an international customer is considered incidental.

Question 3

The world's largest company in 2013 was _____________.

Accepted Answer

The answer of The world's largest company in 2013 was...

Question 4

U.S.companies that earn more than 50 percent of their revenue from international markets include all but ______________.

Accepted Answer

Starbucks earns less than 50% of its revenue from international markets.

Question 5

An understanding of marketing beyond home markets develops over time as a company gets more international business experience.This process is referred to as the ___________.

Accepted Answer

An understanding of marketing beyond home markets develops over time as a company gets more international business experience. This process is referred to as the global experience learning curve.

Question 6

Charlotte,the international sales manager at a fashion house,is concerned that the euro is stronger than the U.S.dollar.This would be identified in the _______ section of a global research report.

Accepted Answer

An accurate understanding of the current economic environment, such as gross domestic product growth, inflation, strength of the currency, and business cycle trends, is essential.

Question 7

John has learned that the government in one of his South American markets has enacted a new law that limits the amount of profit it can take out of the country.If John had researched the _________ environment,he may have been prepared for this bad news.

Accepted Answer

Local political changes can create significant uncertainties for a business. As witnessed in Bolivia and other countries, new governments sometimes alter the relationship of government to industry by exerting greater control and even nationalizing some industries.

Question 8

Sudan should be classified as being in the __________ stage of development.

Accepted Answer

Stage 1: The traditional society (for example, Sudan). Dependent on agriculture as the primary driver of the economy, these economies lack the capabilities to industrialize. Illiteracy is high, which hinders advances in technology.

Question 9

Samsung Electronics sold more televisions than any other company in 2012 with sales of 47 million and a worldwide market share of 27 percent.Samsung is engaged in __________________.

Accepted Answer

A global marketing company realizes that all world markets (including the company's own domestic market) are, in reality, a single market with many different segments. This frequently happens when a company generates more than half its revenue in international markets.

Question 10

Sam is flying to Rio de Janeiro,Brazil,to meet with a prospective customer.Sam is very successful in the United States because he is a multitasking high achiever who hates wasting time with small talk and leaves the details of a contract up to his legal staff.His personal assistant has prepared a global market research report for him and emphasized that he should read the ___________ section.

Accepted Answer

Ethical standards, management styles, degree of formality, and gender or other biases are all critical factors that management needs to know before entering a new market. Failure to understand the business environment can lead to misunderstanding and lost relationships as the company enters a new market.

Question 11

Germany should be classified as being in the __________ stage of development.

Accepted Answer

Stage 5: High mass consumption (for example, Germany). Consumption patterns shift as consumers demand higher levels of service and more durable goods. Income levels rise, creating a large population with discretionary income. Put another way, people are no longer concerned with simply surviving (food, shelter) but, rather, seek products and services that enhance the quality of their life. In other words, products are not needed but wanted.

Question 12

In Spain,most people do not eat dinner until 10:00 at night.This would be identified in the _______ section of a global research report.

Accepted Answer

Understanding a global market's culture and social trends is fundamental for consumer products and helpful for business-to-business marketers. Cultural values, symbols and rituals, and cultural differences affect people's perception of products while B2B companies must learn local cultural practices to recruit employees and establish good business relationships.

Question 13

Andrew wants to fire a manager in the Dijon,France,office of his company.He recently found out that French law makes it difficult to terminate employees.This would be identified in the _______ section of a global research report.

Accepted Answer

Labor laws vary widely around the world. Germany and France, for example, make it difficult to terminate someone once that person has been hired, while Great Britain's termination policies are more consistent with those of the United States.

Question 14

_______ of the world's economic growth in the next 20 years is predicted to come from emerging economies.

Accepted Answer

Seventy-five percent of world economic growth over the next 20 years is projected to come from a new group of powerful economies, most notably China and India.

Question 15

The fastest-growing economy in the world in 2012 was ______.

Accepted Answer

The answer of The fastest-growing economy in the world in...

Question 16

Data on consumer spending per capita or industrial purchasing trends would be identified in the _______ section of a global research report.

Accepted Answer

An accurate understanding of the current economic environment, such as gross domestic product (GDP) growth, inflation, strength of the currency, and business cycle trends, is essential. Also, depending on the company's target markets (consumer or business), additional economic data on consumer spending per capita (consumer products) or industrial purchasing trends (business products) are also needed to facilitate decision making.

Question 17

___________ is one of the most widely used measures of economic growth.

Accepted Answer

Exhibit 15.4 identifies the five largest economies in the world based on GDP, which is the total market value of all final goods and services produced in a country in a given year and one of the most widely used measures of economic growth.

Question 18

The color red means different things in different parts of the world.For example,in China a bride traditionally would wear red but not white.White is a symbol of death.This would be identified in the _______ section of a global research report.

Accepted Answer

Understanding a global market's culture and social trends is fundamental for consumer products and helpful for business-to-business marketers. Cultural values, symbols and rituals, and cultural differences affect people's perception of products while B2B companies must learn local cultural practices to recruit employees and establish good business relationships.

Question 19

Jonathan must travel to Japan to meet with a prospective supplier for his company.He wants to learn proper protocol for meeting his Japanese contact,presenting his business card,and figuring out if he should call him by first name.The area of global market research where Jonathan would find this information is in the ____________ trends.

Accepted Answer

Ethical standards, management styles, degree of formality, and gender or other biases are all critical factors that management needs to know before entering a new market. Failure to understand the business environment can lead to misunderstanding and lost relationships as the company enters a new market.

Question 20

Firms that manufacture in a foreign market or maintain an extensive sales organization and distribution network but whose managers still maintain a "domestic first" mind-set are probably engaged in ________.

Accepted Answer

International marketing aligns the company's assets and resources with global markets, but, in the vast majority of companies, management still takes a "domestic first" approach to the business. As a result, the corporate structure still divides international and domestic markets.

Quiz 15: Understand the Global Marketplace: Marketing Without Borders

Many countries base their court systems on those of former rulers or colonizers.For example,the Spanish ruled many South American countries for many years so the court system there is based on code or civil law.This would be identified in the _______ section of a global research report.

Mi Casa,a furniture maker in Peru,has received an e-mail from an interior decorator in Colombia asking the company to ship furniture to her clients.Mi Casa has shipped outside Peru only three times in the past.Mi Casa's position toward marketing is classified as _________________________.

The world's largest company in 2013 was _____________.

U.S.companies that earn more than 50 percent of their revenue from international markets include all but ______________.

An understanding of marketing beyond home markets develops over time as a company gets more international business experience.This process is referred to as the ___________.

Charlotte,the international sales manager at a fashion house,is concerned that the euro is stronger than the U.S.dollar.This would be identified in the _______ section of a global research report.

John has learned that the government in one of his South American markets has enacted a new law that limits the amount of profit it can take out of the country.If John had researched the _________ environment,he may have been prepared for this bad news.

Sudan should be classified as being in the __________ stage of development.

Samsung Electronics sold more televisions than any other company in 2012 with sales of 47 million and a worldwide market share of 27 percent.Samsung is engaged in __________________.

Germany should be classified as being in the __________ stage of development.

In Spain,most people do not eat dinner until 10:00 at night.This would be identified in the _______ section of a global research report.

Andrew wants to fire a manager in the Dijon,France,office of his company.He recently found out that French law makes it difficult to terminate employees.This would be identified in the _______ section of a global research report.

_______ of the world's economic growth in the next 20 years is predicted to come from emerging economies.

The fastest-growing economy in the world in 2012 was ______.

Data on consumer spending per capita or industrial purchasing trends would be identified in the _______ section of a global research report.

___________ is one of the most widely used measures of economic growth.

The color red means different things in different parts of the world.For example,in China a bride traditionally would wear red but not white.White is a symbol of death.This would be identified in the _______ section of a global research report.

Firms that manufacture in a foreign market or maintain an extensive sales organization and distribution network but whose managers still maintain a "domestic first" mind-set are probably engaged in ________.