Question 1

Discuss licensing.Define it, give the advantages and disadvantages.

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Question 2

In recent years, a number of countries with similar economic goals have formed transnational trade groups or signed trade agreements for the purpose of promoting free trade.Describe the best-known three.

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Question 3

Discuss this statement."A signal that the world's trading nations are committed to open markets-and will resist protectionism-would inject confidence and energy into our markets," says the U.S.Trade Representative.

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Question 4

Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer be sure to define cross-cultural analysis.

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Question 5

Three types of companies populate and compete in the global marketplace.Identify and succinctly describe each type.

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Question 6

Give an example of a global channel of distribution.

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Question 7

Explain the difference between dumping and a gray market (parallel importing).

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Question 8

Give at least one argument for and one argument against protectionism.

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Question 9

Briefly describe the World Trade Organization (WTO) and its purpose.

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Question 10

Why is it a wise idea for global marketers to use back translation? Provide an example to support your answer.

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Question 11

Explain the difference between indirect exporting and direct exporting.What are the advantages and disadvantages of each approach?

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Question 12

What is meant by the term economic infrastructure and how can this affect a firm's desire to enter a global market?

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Question 13

What are the market entry strategy options available to a company seeking to enter the global marketplace? How do they relate to each other in terms of profit potential, risk, financial commitment required, and marketing control?

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Question 14

Figure 7-8 above, identifies 5 global product and promotion strategies a company can use when marketing to different countries.Name and describe each of these five strategies (A, B, C, D, and E).

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Question 15

Explain the difference between a joint venture and direct investment market-entry strategies.What are the advantages and disadvantages of each approach?

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Question 16

Global marketing is also affected by economic considerations.Identify the three steps that should be performed when scamming the global marketplace.

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Question 17

If your primary motive were to raise prices on imports, would you use tariffs or quotas? Why?

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Question 18

What are the product and promotion strategies available to a company seeking to enter the global marketplace? How do they relate to each other in terms of the same or adapted product and promotion?

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Quiz 7: Understanding and Reaching Global Consumers and Markets