MKTG 9th Edition by Charles W. Lamb -Test Bank

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Complete Test Bank With Answers

 

 

 

Sample Questions Posted Below

 

 

 

 

 

1. The surge in global trade in recent years has added to strains and charges for all forms of transport.

  a. True
  b. False

 

ANSWER:   True
RATIONALE:   The surge in global trade in recent years has added to strains and charges for all forms of transport. As a result, some manufacturers are developing costly buffer stocks, while others are shifting to more expensive but more reliable modes of transport. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Understand
BUSPROG: Analytic
Distribution
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: AVTA62QPPXCS4ERH8362
QUESTION ID:   JFND-GO4G-G3BU-QOJO

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMD-CEHU-GPJO-C3UD-RCT1-GYSU-Q3TU-CESU-Q3TT-GOSU-E3TZ-8YSU-RPTI-CA3S-NAJZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

2. The solving of promotional and product problems guarantees global marketing success.

  a. True
  b. False

 

ANSWER:   False
RATIONALE:   The solving of promotional and product problems does not guarantee global marketing success. The product must still get adequate distribution. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Understand
BUSPROG: Analytic
Distribution
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: EBDFQALR5PUPAF382649
QUESTION ID:   JFND-GO4G-G3BU-QOJZ

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJW-G71U-NP3T-CJTU-1PTW-CRSU-QQJI-CRSU-G3BS-GOSU-N3J1-CRSU-CP5D-8RHD-CC3A-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

3. Franchising is a form of exporting.

  a. True
  b. False

 

ANSWER:   False
RATIONALE:   Franchising is a form of licensing that has grown rapidly in recent years. More than half of the international franchises are for fast-food restaurants and business services. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Remember
BUSPROG: Analytic
International Franchising
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: FXLLD4Q0Z9DBE34MR026
QUESTION ID:   JFND-GO4G-G3BU-QOJS

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMR-GH3U-CQDR-GIOU-G3UB-CASU-QCTA-CESS-CP5R-GOSS-K3MR-GHSU-KPB1-GA5D-E3T3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

4. Global marketers use social media not only for understanding customers but also to build their brands as they expand internationally.

  a. True
  b. False

 

ANSWER:   True
RATIONALE:   In many respects, going global is easier than it has ever been before. Global marketers use social media not only for understanding customers but also to build their brands as they expand internationally. See 5-6: The Impact of the Internet
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.06
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Understand
BUSPROG: Analytic
Internet
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: GDBLNYCMWAJS9EUKQ056
QUESTION ID:   JFND-GO4G-G3BU-QOJI

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMN-GWAD-13MN-GA3D-CCDD-GASU-CQBA-8YSS-RPB1-GOSS-EPBW-GOSU-G3UD-GFUD-E3UF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

5. Firms seeking to enter into foreign trade can succeed even if they do not adhere to the principles of the marketing mix.

  a. True
  b. False

 

ANSWER:   False
RATIONALE:   To succeed, firms seeking to enter into foreign trade must still adhere to the principles of the marketing mix. The marketing mix consists of the four Ps of global marketing strategy: product, place, promotion, and price. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Understand
BUSPROG: Analytic
Marketing Mix
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: KSCH0UGC6TCA3Z7WR856
QUESTION ID:   JFND-GO4G-G3BU-QOJW

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJS-8YHD-N3UR-GCAD-YA5D-COSU-CP5G-8YSU-GPDR-GOSU-EAJ1-8RSS-GC3A-GR4U-EAJO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

6. Opening an e-commerce site on the Internet makes it difficult for a company to gain recognition in the international marketplace.

  a. True
  b. False

 

ANSWER:   False
RATIONALE:   In many respects, going global is easier than it has ever been before. Opening an e-commerce site on the Internet immediately puts a company in the international marketplace. See 5-6: The Impact of the Internet
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.06
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Understand
BUSPROG: Analytic
Internet
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: QTXJDRX5BY9CB4MM1420
QUESTION ID:   JFND-GO4G-G3BU-QO1N

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJT-CAHU-QCDD-CJ1D-RCTO-CASU-KCJI-CRSS-N3TS-GOSU-EQMD-GWSU-RQJ3-GH5D-1QJO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

7. In the context of direct foreign investment, direct investors have the lowest potential reward and the lowest potential risk.

  a. True
  b. False

 

ANSWER:   False
RATIONALE:   Active ownership of a foreign company or of overseas manufacturing or marketing facilities is called direct foreign investment. Direct investors have either a controlling interest or a large minority interest in the firm. Thus, they have the greatest potential reward and the greatest potential risk. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Understand
BUSPROG: Analytic
Foreign Direct Investment
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: SHTRN7P8GCSZ7RWLT793
QUESTION ID:   JFND-GO4G-G3BU-QO1B

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJZ-8YHU-GAMD-GO5S-KCJU-CRSU-N3B3-8RSU-1CJ3-GOSS-N3TS-GASU-RPBA-GC3G-EAMN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

8. Gross national product (GNP) is the total market value of all final goods and services produced in a country for a given time period.

  a. True
  b. False

 

ANSWER:   False
RATIONALE:   Gross domestic product (GDP) is the total market value of all final goods and services produced in a country for a given time period. The term final refers to final products that are sold, not to intermediary products used in the assembly of a final product. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Remember
BUSPROG: Analytic
International Marketing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: SXYDVM8JK1PCZE258322
QUESTION ID:   JFND-GO4G-G3BU-QOT3

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMF-8BUD-EPJZ-CRAD-C3UF-CRSU-YA5G-CRSU-RPJ1-GOSS-KA31-CWSU-GAJU-CFTS-N3TW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

9. The final step in creating a marketing mix is developing a thorough understanding of the global target market.

  a. True
  b. False

 

ANSWER:   False
RATIONALE:   To succeed, firms seeking to enter into foreign trade must still adhere to the principles of the marketing mix. The marketing mix consists of the four Ps of global marketing strategy: product, place, promotion, and price. The first step in creating a marketing mix is developing a thorough understanding of the global target market. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Understand
BUSPROG: Analytic
Marketing Mix
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: TRZJUBXL2B79YWXVL312
QUESTION ID:   JFND-GO4G-G3BU-QOTA

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMF-8Y4G-GQBS-CRHS-G3UB-8YSS-RPBZ-CESS-KP5R-GOSU-1CJI-8RSU-RQJT-CJUD-YATA-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

10. A blog is a publicly accessible Web page that functions as an interactive journal, where readers can post comments on the author’s entries.

  a. True
  b. False

 

ANSWER:   True
RATIONALE:   A blog is a publicly accessible Web page that functions as an interactive journal, where readers can post comments on the author’s entries. It is one of the social media sites from where companies can gather user-generated information to better understand their customers. See 5-6: The Impact of the Internet
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.06
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Remember
BUSPROG: Analytic
Social Media Strategy
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: XFDCEDBQPJG4KYBFC496
QUESTION ID:   JFND-GO4G-G3BU-QO1G

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMG-CW4G-KP3O-GW3G-KA31-GWSU-KP5F-CRSS-GCDR-GOSU-E3JU-GRSS-R3T1-CW4D-N3MF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

11. Cost savings is considered a key driver for outsourcing by most companies.

  a. True
  b. False

 

ANSWER:   True
RATIONALE:   Many executives have said that outsourcing leads to corporate growth, efficiency, productivity, and revenue growth. Most companies see cost savings as a key driver for outsourcing. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Understand
BUSPROG: Analytic
International Marketing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: XJCK2YPNEZ8LS66B2773
QUESTION ID:   JFND-GO4G-G3BU-QO1F

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMN-GO3S-GPBI-8Y4G-EA5F-8YSS-C3BI-8YSU-OAMB-GOSU-ECMR-CWSS-GPJO-GW5S-RPDR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

12. Because Facebook, YouTube, and other social media are popular around the world, firms both large and small have embraced social media marketing.

  a. True
  b. False

 

ANSWER:   True
RATIONALE:   Global marketers use social media not only for understanding customers but also to build their brands as they expand internationally. Because Facebook, YouTube, and other social media are popular around the world, firms both large and small have embraced social media marketing. See 5-6: The Impact of the Internet
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.06
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Remember
BUSPROG: Analytic
Internet
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: YBWBP8JXSB6HDM2N2891
QUESTION ID:   JFND-GO4G-G3BU-QO1R

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMB-GO3D-R3TO-8R3D-YQBW-COSS-RCMG-8RSU-ECTS-GOSS-GQMG-CESU-1CTI-GAHU-NCB3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

13. Caused by shifting birthrate trends, a demographic dividend often leads to rising labor costs.

  a. True
  b. False

 

ANSWER:   False
RATIONALE:   Caused by shifting birthrate trends, a demographic dividend results in a temporary bulge in the number of working-age people. This often leads to falling labor costs, a healthier and more educated population, and the entry of millions of women into the workforce. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Understand
BUSPROG: Analytic
Demographics
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: YJYRQ3LGZ8B0SBV4R586
QUESTION ID:   JFND-GO4G-G3BU-QO1D

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJA-GWHD-RC31-GHAD-OA5G-CRSU-EQMN-8YSU-CQB1-GOSS-C3MN-GASU-CA5D-CR3D-YPUN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

14. In general, average family incomes are higher in the more developed countries than in the less developed countries.

  a. True
  b. False

 

ANSWER:   True
RATIONALE:   A major factor in the external environment facing the global marketer is the level of economic development in the countries where it operates. Average family incomes are higher in the more developed countries than in the less developed countries. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Understand
BUSPROG: Analytic
Economic Forces
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: YNLLKRJSU0LX3G054652
QUESTION ID:   JFND-GO4G-G3BU-QOTU

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMF-8Y4U-CAJZ-GY4D-NCTU-CASU-YCJS-CESU-NPDD-GOSU-K3TU-GESU-GC5N-CW5U-OCMF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

15. Yuncen Foods, a company that manufactures frozen food, gets over half of its revenue from international sales. It has been consistently ranked the best frozen foods manufacturer in the world. It has catered its products to suit people in different countries according to their tastes and preferences. This shows that Yuncen Foods:

  a. needs to increase its domestic sales.
  b. has used inshoring to increase its profits and market share.
  c. should invest in another product line to compete effectively in the market.
  d. has a global vision that is paying off well.

 

ANSWER:   d
RATIONALE:   A global vision means recognizing and reacting to international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets. In this scenario, Yuncen Foods caters its products to suit people in different countries according to their tastes and preferences, making it the best frozen foods manufacturer in the world. These measures characterize a company with a strong global vision. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Apply
BUSPROG: Reflective Thinking
International Marketing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: BJLJJ9RN9L9BW62TQ878
QUESTION ID:   JFND-GO4G-G3BU-QOT1

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMD-CJ1U-EPMD-GYHS-CPTS-CCSU-GCUG-CRSU-OPBA-GOSS-E3TT-GWSU-CAJW-GF1D-YCBU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

16. Joint ventures are successful, however they can be risky. This is because joint ventures:

  a. consist of partners who sometimes cannot agree on management policies.
  b. depend heavily on contract manufacturing.
  c. are void of government interference.
  d. are very different from licensing agreements.

 

ANSWER:   a
RATIONALE:   In an international joint venture, the domestic firm buys part of a foreign company or joins with a foreign company to create a new entity. While joint ventures can be successful, they can also be very risky. Many fail, and others fall victim to a takeover in which one partner buys out the other. Sometimes joint ventures partners simply cannot agree on management strategies and policies. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Analyze
BUSPROG: Analytic
Joint Ventures
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: FZJSX5G4MUVPGNH1N720
QUESTION ID:   JFND-GO4G-G3BU-QOTT

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJA-GO4G-NA3A-GEAD-NP33-GCSU-YQDF-CESU-YPT3-GOSS-CC3Z-CRSU-EPBW-8F1D-1PB3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

17. Which of the following stages in the development of multinationals is characterized by multinational firms setting up foreign subsidiaries to handle sales in a country?

  a. Stage one
  b. Stage two
  c. Stage three
  d. Stage four

 

ANSWER:   b
RATIONALE:   Multinational corporations often develop their global business in stages. In the first stage, companies operate in one country and sell into others. Stage two is characterized by a multinational company setting up foreign subsidiaries to handle sales in one country. See 5-2: Multinational Firms
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.02
TOPICS:   A-head: Multinational Firms
Bloom’s: Remember
BUSPROG: Analytic
Multinational Corporations
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: GZJMG7K0P8QPP0BHM949
QUESTION ID:   JFND-GO4G-G3BU-QOTO

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJI-8FUD-EC3T-CW4U-Q3BZ-CRSU-RPUG-CESS-RPDF-GOSS-GCJW-CWSU-R3BT-GCHU-CQBI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

18. A U.S. licensor will be most successful in maintaining effective control over licensees and preventing them from voiding its contract by:

  a. using lawyers from both countries to write the licensing agreement.
  b. insisting that all licensees have a published code of ethics.
  c. not allowing the licensee to pay a fee for the use of proprietary knowledge.
  d. locally registering patents and trademarks to the U.S. firm and not to the licensee.

 

ANSWER:   d
RATIONALE:   Licensing may create a new competitor in the long run, if the licensee decides to void the license agreement. Two common ways of maintaining effective control over licensees are shipping one or more critical components from the United States and locally registering patents and trademarks to the U.S. firm, not to the licensee. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Understand
BUSPROG: Analytic
International Licensing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: HMUBFJHMWPAXSLEZL645
QUESTION ID:   JFND-GO4G-G3BU-QOTZ

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJU-CAAS-R3DN-GIOS-KATW-COSU-KATA-8RSS-RPB3-GOSS-GPUR-COSU-GCTT-CPOU-OPBZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

19. Sinesia is a country that is famous for its vast deposits of cobalt, a material that is used to make high-speed and high-temperature cutting tools and dyes. A company that wants to manufacture tools for shaping steel would be most attracted to Sinesia’s:

  a. political structure.
  b. cultural aspects.
  c. natural resources.
  d. demographic makeup.

 

ANSWER:   c
RATIONALE:   A company that wants to manufacture tools for shaping steel would be most attracted to Sinesia’s natural resources. The vast deposits of cobalt are Sinesia’s natural resources. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Apply
BUSPROG: Reflective Thinking
Natural Resources
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: HSSYVYP5JWA8LUZ8E434
QUESTION ID:   JFND-GO4G-G3BU-QOTS

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJW-GE5S-KAMB-CJOU-E3TI-GOSU-KQJU-CESU-CPMG-GOSU-EC5B-CESU-EP3O-COAD-1QDF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

20. Which of the following is a difference between product invention and product adaptation?

  a. Product invention involves altering the promotional strategies for a product, while product adaptation does not involve altering such strategies.
  b. Product invention takes the marketing mix into consideration, while product adaptation does not take it into consideration.
  c. Product invention involves drastically changing an existing product, while product adaptation involves slightly altering a basic product.
  d. Product invention applies only to products that are displayed in local markets, while product adaptation applies to products all around the world.

 

ANSWER:   c
RATIONALE:   In the context of global marketing, product invention can be taken to mean either creating a new product for a market or drastically changing an existing product. Product adaptation refers to slightly altering a basic product to meet local conditions. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Analyze
BUSPROG: Analytic
Marketing Mix
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: LUUX1DK9HLFHYD01V423
QUESTION ID:   JFND-GO4G-G3BU-QOTI

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJA-GY4D-GP33-CW4G-KPJ3-GOSU-N3UB-8YSU-OCDF-GOSU-CPBS-CRSU-QC31-CE5G-RAMD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

21. Many people fear world trade because it:

  a. closes the access to advanced technology for less developed countries.
  b. slows down the rate at which people’s living standards increase.
  c. causes some people to lose their jobs due to production shifts abroad.
  d. empowers governments to abuse the freedom and property of their citizens.

 

ANSWER:   c
RATIONALE:   One of the negatives of world trade is that millions of people lose their jobs due to imports, production shifts abroad, or outsourcing of tech jobs. Employers often threaten to outsource jobs if workers do not accept pay cuts. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Understand
BUSPROG: Analytic
Globalization
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: MLZNPKP26CQMTZHHZ458
QUESTION ID:   JFND-GO4G-G3BU-QOTW

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJI-GHAG-RC33-GC5D-YPUD-GCSS-K3UD-CESS-R3TI-GOSU-CC3A-COSU-YQMR-8YHG-GPBT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

22. Which of the following is a similarity between export brokers and export agents?

  a. Both act as hired purchasing agents for foreign customers operating in the exporter’s home market.
  b. Both live in foreign countries and assist in international trade.
  c. Both assume all risks associated with selling a manufacturer’s product in the international market.
  d. Both allow manufacturers to retain title for products.

 

ANSWER:   d
RATIONALE:   Export brokers and export agents allow manufacturers to retain title and assume all risks for the products they manufacture. An export broker is an intermediary who plays the traditional broker’s role by bringing buyer and seller together. Export agents are foreign sales agents/distributors who live in the foreign country and perform the same functions as domestic manufacturers’ agents, helping with international financing, shipping, and so on. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Analyze
BUSPROG: Analytic
Exporting
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: NNLMVB0UXFKR05R68672
QUESTION ID:   JFND-GO4G-G3BU-QQNN

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJZ-GIOU-Y3UB-GE4U-GCTW-GHSU-EA5G-CRSU-YPBZ-GOSU-RQJU-CESS-NA3I-CA4G-CPUB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

23. Once marketing managers have determined a global product and promotion strategy, they can select the remainder of the marketing mix. However, entry into many developing nations presents special pricing problems because:

  a. the rate of capital accumulation exceeds the rate of population growth.
  b. there is always an expectation of countertrade by developing countries.
  c. the demand for low quality products is very less compared to developed countries.
  d. there is a lack of mass purchasing power.

 

ANSWER:   d
RATIONALE:   Once marketing managers have determined a global product and promotion strategy, they can select the remainder of the marketing mix. Because developing nations lack purchasing power, selling to them often poses special pricing problems. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Analyze
BUSPROG: Analytic
Pricing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: PNFBLW7H06FW81V4M603
QUESTION ID:   JFND-GO4G-G3BU-QQNB

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJU-CW5U-GCJU-GC5D-KC3S-8YSS-NPDD-8YSS-CPJU-GOSS-G3BI-GASU-EPBU-CI1S-KA3W-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

24. One of the factors in the external environment that has become more evident in the past decade is the:

  a. decrease in the importance of language in foreign trade.
  b. shortage of natural resources.
  c. abundance of export brokers for major industries.
  d. decrease in the working-age population of developing countries.

 

ANSWER:   b
RATIONALE:   A final factor in the external environment that has become more evident in the past decade is the shortage of natural resources. For example, petroleum shortages have created huge amounts of wealth for oil-producing countries such as Norway, Saudi Arabia, and the United Arab Emirates. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Remember
BUSPROG: Analytic
Natural Resources
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: RRRTLFUHC76TJN6MG379
QUESTION ID:   JFND-GO4G-G3BU-QQB3

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJI-GOAD-RCJA-CEHD-QQJI-GCSU-RQMN-CESU-NAUB-GOSS-NPMB-GRSU-1AUB-CAHG-CAJZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

25. Which of the following is true of globalization?

  a. It expands economic freedom and increases the living standards of people.
  b. It relies on strong government regulations to keep down prices.
  c. It fails to offer access to advanced technology in less developed countries.
  d. It makes it easier for governments to abuse the freedom and property of their citizens.

 

ANSWER:   a
RATIONALE:   Globalization expands economic freedom, spurs competition, and raises the productivity and living standards of people in countries that open themselves to the global marketplace. For less developed countries, globalization also offers access to foreign capital, global export markets, and advanced technology. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Understand
BUSPROG: Analytic
Globalization
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: SCRCV3F4QJVEZCM75355
QUESTION ID:   JFND-GO4G-G3BU-QQBA

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJI-CIOU-KQB3-8FTS-KCJZ-GYSU-YC3S-8RSU-CCTO-GOSS-CQDB-GHSU-1CUB-CEHD-YA5D-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

26. A company is said to be a direct foreign investor in another country if it:

  a. outsources a part of its production to the country due to the availability of cheaper labor.
  b. exports finished products to that country.
  c. manufactures products for that country based on contract manufacturing.
  d. acquires an active ownership of marketing facilities in that country.

 

ANSWER:   d
RATIONALE:   Active ownership of a foreign company or of overseas manufacturing or marketing facilities is called direct foreign investment. Direct investors have either a controlling interest or a large minority interest in the firm. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Understand
BUSPROG: Analytic
Foreign Direct Investment
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: UMXTAJXD8PY8T0Z1G261
QUESTION ID:   JFND-GO4G-G3BU-QQNG

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJO-CO3D-13MN-CPTG-KCMG-GESS-GPJU-CRSS-CPJI-GOSU-E3BI-GASU-K3BI-GOAG-CQDF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

27. Which of the following is true of franchising?

  a. It is a form of contract manufacturing.
  b. It has grown rapidly in recent years.
  c. It is restricted to the market of fast-food restaurants.
  d. It requires an export agent and an export broker to be successful.

 

ANSWER:   b
RATIONALE:   Franchising is a form of licensing that has grown rapidly in recent years. More than half of the international franchises are for fast-food restaurants and business services. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Understand
BUSPROG: Analytic
International Franchising
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: ZYHDZBK6LDF80NYYP151
QUESTION ID:   JFND-GO4G-G3BU-QQNF

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMB-CFUD-CPBT-8FOU-GAUB-CWSU-GCBW-CRSS-EQMB-GOSS-CCDD-COSS-GQJW-8YHD-RC31-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

28. 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.

ANSWER:   cultural aspects
RATIONALE:   Irving Inc. fails to take into account the various styles of clothing that are deemed acceptable in various countries. By doing so, Irving Inc. failed to be sensitive to the cultural aspects of the countries. Culture underlies the family, the educational system, religion, and the social class system. A company that does not understand a country’s culture is doomed to failure in that country. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Apply
BUSPROG: Reflective Thinking
Culture
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: AKGQEUUMEQX5SHXBW876
QUESTION ID:   JFND-GO4G-G3BU-QQNR

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJ3-8B1D-CAJA-GHHG-CAJW-GOSU-QCJS-CRSU-CAT3-GOSU-N3B3-GOSS-K3BU-GAAD-KPTW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

29. __________is a fast-growing way to conduct global business in which all or part of the payment for goods or services is in the form of other goods and services.

ANSWER:   Countertrade
RATIONALE:   Global trade does not always involve cash. Countertrade is a fast-growing way to conduct global business. In countertrade, all or part of the payment for goods or services is in the form of other goods and services. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Remember
BUSPROG: Analytic
Marketing Mix
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: AMDLKTU2ER3BMNLEF197
QUESTION ID:   JFND-GO4G-G3BU-QQND

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJU-CP1G-RQDD-G31D-KA3A-GWSU-RA3O-8RSS-RP33-GOSS-ECJZ-GRSS-NAMD-GCAG-NCUB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

30. 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__________.

ANSWER:   outsourcing
RATIONALE:   Outsourcing refers to sending U.S. jobs abroad. Many executives believe that outsourcing leads to corporate growth, efficiency, productivity, and revenue growth. Most companies see cost savings as a key driver in outsourcing. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Understand
BUSPROG: Analytic
International Marketing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: AXQLW0SF9Y0JWDJHQ892
QUESTION ID:   JFND-GO4G-G3BU-QQBU

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJT-CW3D-GQJS-GB1G-C3JW-GCSU-1PTO-CESS-NA5G-GOSU-OQBZ-CCSU-NQB1-GR5U-QQBS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

31. A(n)__________is a limit on the amount of a specific product that can enter a country.

ANSWER:   quota
RATIONALE:   A quota is a limit on the amount of a specific product that can enter a country. Several U.S. companies have sought quotas as a means of protection from foreign competition. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Remember
BUSPROG: Analytic
Global Legal-Political Environment
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: AXXP5D4Y5QZGSCBRL582
QUESTION ID:   JFND-GO4G-G3BU-QQB1

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMG-GBTD-KPJ1-8Y5U-RPBT-GRSU-NAT3-CESS-RCTI-GOSS-GCT1-GHSS-N3BZ-G31D-CPUF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

32. D’Costas, an authentic Mexican restaurant, has many restaurants all over the world. The taste and authenticity of the food served is the same irrespective of the restaurant one visits. Based on this information, D’Costas follows the strategy of__________.

ANSWER:   global marketing standardization
RATIONALE:   D’Costas maintains the same taste and authenticity of food in all its restaurants. Therefore, it follows the strategy of global marketing standardization. Developing a single product for all markets and promoting it the same way all over the world is known as global marketing standardization. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Apply
BUSPROG: Reflective Thinking
Global Adaptation
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: AYXP7F287AT1MUSPG438
QUESTION ID:   JFND-GO4G-G3BU-QQBT

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJI-CO4G-RC3T-8R3D-GQMD-COSS-ECMG-8YSU-OC3I-GOSS-CCDR-GOSS-CP5F-CW3U-RCTW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

33. A company is most likely doomed to failure in a foreign country if it__________.

ANSWER:   does not understand the country’s culture
RATIONALE:   Central to any society is a common set of values shared by its citizens that determines what is socially acceptable and what is not. A company that does not understand a country’s culture is doomed to failure in that country. Cultural blunders lead to misunderstandings and often perceptions of rudeness and even incompetence. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Understand
BUSPROG: Analytic
Culture
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: CQVSSNGCCNCNYYGY7844
QUESTION ID:   JFND-GO4G-G3BU-QQBO

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJT-CIUG-EPJT-GR3G-ECBO-CCSU-YPDF-CESS-ECBI-GOSU-NPDF-GOSU-OAUF-8BTU-CCDN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

34. __________is the largest Latin American trade agreement and includes Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela.

ANSWER:   Mercosur
RATIONALE:   Mercosur is the largest Latin American trade agreement and includes Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela. A trade agreement is an agreement to stimulate international trade. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Remember
BUSPROG: Analytic
External Business Environment
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: DVHXKJEWYKXH62AET520
QUESTION ID:   JFND-GO4G-G3BU-QQBZ

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJU-8Y3S-RATU-C3TU-NQDF-CCSU-13DD-8YSS-KCUG-GOSU-EC3I-GWSU-QA5F-CAHS-CAT3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

35. Aztic Inc., a manufacturer of sports goods, plans to expand its operations to a new country. As part of this expansion, it determines whether the population of the country is primarily rural or urban. In this case, Aztic Inc. is assessing the__________of the country.

ANSWER:   demographic makeup
RATIONALE:   Aztic Inc. is assessing the country’s demographic makeup. Marketers need to know whether the population of a country is mostly urban or rural, because marketers may not have easy access to rural consumers. Another key demographic consideration is age. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Apply
BUSPROG: Reflective Thinking
Demographics
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: EDDHWEEWEBJRV9Z5Y771
QUESTION ID:   JFND-GO4G-G3BU-QQBS

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMB-CPTU-Y3BA-GJUD-RC33-CWSS-NPDG-8YSU-1ATO-GOSU-GAJA-GHSU-NAMG-COAU-YPMN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

36. In the context of global marketing, when a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity, it is known as a__________.

ANSWER:   joint venture
RATIONALE:   In an international joint venture, the domestic firm buys part of a foreign company or joins with a foreign company to create a new entity. Joint ventures are somewhat similar to licensing agreements. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Remember
BUSPROG: Analyze
Joint Ventures
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: EVLHFUAQW7AWJMKLE460
QUESTION ID:   JFND-GO4G-G3BU-QQBI

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJI-GW4D-O3MB-GE5U-NCJS-GHSU-1A3W-CESU-N3BI-GOSS-NPTU-GHSU-ECT1-CW3S-NP3U-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

37. A(n)__________is an intermediary who brings a buyer and a seller together.

ANSWER:   export broker
RATIONALE:   An export broker is an intermediary who plays the traditional broker’s role by bringing buyer and seller together. The manufacturer still retains title and assumes all the risks. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Remember
BUSPROG: Analytic
Exporting
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: FPPQKFFWYJ71AUN12494
QUESTION ID:   JFND-GO4G-G3BU-QQBW

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMG-GITD-QAMN-GR4U-GCMD-GWSS-RP3A-8YSU-Y3UG-GOSU-KQBI-GYSS-R3JS-CW5U-O3BU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

38. Maria likes visiting different restaurants and trying out a variety of cuisines. She writes her experiences on a Web page, titled Maria’s Experiences, which can be read by people all around the world. She also reviews restaurants, and members of her Web page are entitled to post their comments and suggestions. Based on this information, Maria’s Experiences is an example of a(n)__________.

ANSWER:   blog
RATIONALE:   Maria’s Experiences is an example of a blog as it functions as a journal in which Maria writes her experiences with restaurants and allows members to read and leave their comments. A blog is a publicly accessible Web page that functions as an interactive journal, where readers can post comments on the author’s entries See 5-6: The Impact of the Internet
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Apply
BUSPROG: Reflective Thinking
Social Media Strategy
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: HESDZ7YZMEJ9YK39R542
QUESTION ID:   JFND-GO4G-G3BU-QQKN

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJO-GAHS-NQBA-CPTG-G3DN-GASS-EATO-CESU-OPBA-GOSU-YP5N-GRSU-EPT3-GF1S-KCTU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

39. 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__________.

ANSWER:   outsourcing
RATIONALE:   In this scenario, Melrow Inc. cuts costs by shifting its production units to another country because of the inexpensive labor available there. Therefore, Melrow Inc. is said to be engaged in outsourcing. Outsourcing refers to sending U.S. jobs abroad. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Apply
BUSPROG: Reflective Thinking
International Marketing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: HQHZSC70J7U2KJ30P707
QUESTION ID:   JFND-GO4G-G3BU-QQKB

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJS-GHAU-OQJO-8RHG-GC5B-GCSS-CPJA-8RSU-EQBA-GOSS-E3TW-GYSU-OPJZ-8FUD-OCDD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

40. The__________is a trade agreement that has dramatically lowered trade barriers worldwide and also created the World Trade Organization.

ANSWER:   Uruguay Round
RATIONALE:   The Uruguay Round is a trade agreement that has dramatically lowered trade barriers worldwide and also created the World Trade Organization. It is the most ambitious global trade agreement ever negotiated. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Remember
BUSPROG: Analytic
External Business Environment
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: HYFR1569R4MSW486H791
QUESTION ID:   JFND-GO4G-G3BU-QQJ3

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJ1-8FTU-NPUR-COHG-GC5G-GWSU-Y3T3-8RSS-ECUD-GOSS-E3JO-GHSU-1PBI-GY3U-1P5F-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

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

ANSWER:   Market groupings
RATIONALE:   Market groupings are trade alliances in which several countries agree to work together to form a common trade area that enhances trade opportunities among those countries. The best-known market grouping is the European Union (EU). See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Remember
BUSPROG: Analytic
Global Legal-Political Environment
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: LHWYWTT82CF84BJ3N457
QUESTION ID:   JFND-GO4G-G3BU-QQJA

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJW-GJ1S-RAJ1-GTUD-YCUD-GOSU-NPUR-CRSS-R3JI-GOSU-EA3T-GESS-RQB3-8FTU-NCBT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

42. 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__________.

ANSWER:   floating exchange rates
RATIONALE:   Currency markets operate under a system of floating exchange rates, a system in which the prices of different currencies move up or down based on the demand for and supply of each currency. Global currency traders create the supply of and demand for a particular country’s currency based on that country’s investment, trade potential, and economic strength. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Remember
BUSPROG: Analytic
Pricing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: NRUQ0MB8PNMYN475H631
QUESTION ID:   JFND-GO4G-G3BU-QQKG

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJZ-CA4G-KPDD-GITD-OPDD-GYSS-GPJI-8RSU-RQDN-GOSS-CAJA-GOSS-EC5D-8Y3G-CCJW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

43. 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__________.

ANSWER:   licensing
RATIONALE:   Licensing is the legal process whereby a licensor allows another firm to use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge. The licensee, in turn, pays the licensor a royalty or fee agreed on by both parties. Vimonland Theme Park is selling an investment firm the rights to run its theme park in a foreign country. The investment company pays Vimonland Theme Park a percentage of its profits as royalties. Therefore, this is an example of licensing. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Apply
BUSPROG: Reflective Thinking
International Licensing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: PDCC6VQMHKV9101FF796
QUESTION ID:   JFND-GO4G-G3BU-QQKF

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJS-8R4D-OPTU-GYAS-R3TT-8RSU-QPDG-CESU-O3UN-GOSU-1QJZ-GASS-KQJS-GA4G-K3BZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

44. 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.

ANSWER:   first-stage
RATIONALE:   D Feet Corp. is a first-stage multinational company as it manufactures its footwear in America but sells it to different countries around the world. Multinationals often develop their global business in stages. In the first stage, companies operate in one country and sell to others. See 5-2: Multinational Firms
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.02
TOPICS:   A-head: Multinational Firms
Bloom’s: Apply
BUSPROG: Reflective Thinking
Multinational Corporations
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: QGZX6367NLAK5U25U030
QUESTION ID:   JFND-GO4G-G3BU-QQKR

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMB-GI1D-RPDR-GH3U-OPUF-GYSS-N3JZ-8RSS-EC31-GOSS-RPTA-CESS-GA3U-GW4U-QPMF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

45. 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__________.

ANSWER:   using social media to expand beyond local markets
RATIONALE:   The print studio uses social media such as Facebook and Pinterest to display its products. This attracts the attention of several companies worldwide, thus allowing the firm to expand beyond local markets. Opening an e-commerce site on the Internet immediately puts a company in the international marketplace. See 5-6: The Impact of the Internet
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.06
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Apply
BUSPROG: Reflective Thinking
Social Media Strategy
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: SYME9CH2SUGCUU3G4116
QUESTION ID:   JFND-GO4G-G3BU-QQKD

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJA-GEHD-RAJT-CR4U-EPMR-CWSS-CCMR-CESS-EAMG-GOSS-C3MD-CCSU-RCMB-G31U-RPB1-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

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

ANSWER:   inshoring
RATIONALE:   Inshoring is the practice of returning production jobs to the United States. Increased fuel and transportation costs associated with long-distance shipping, coupled with falling United States energy costs, have given impetus to inshoring. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Remember
BUSPROG: Analytic
International Marketing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: TFBJ41HAYFVY7AUT5563
QUESTION ID:   JFND-GO4G-G3BU-QQJU

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJT-C3TD-R3UG-GOAD-E3B1-CRSU-GPMD-8YSU-RCBS-GOSU-RCDF-COSU-CP3S-CFTD-13MG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

47. 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.

ANSWER:   social media marketing
RATIONALE:   Fashion Spell is making use of social media marketing to keep in touch with its customers. Making use of social media sites such as Facebook is an example of social media marketing. See 5-6: The Impact of the Internet
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.06
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Apply
BUSPROG: Reflective Thinking
Social Media Strategy
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: TWYBP4V4LMFSERYEY740
QUESTION ID:   JFND-GO4G-G3BU-QQJ1

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJI-GBUG-CPTU-CC4D-YAUB-8RSU-CQDD-8RSU-QAUN-GOSU-YCMB-COSU-NAJS-GA5D-RA5G-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

48. __________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.

ANSWER:   Dumping
RATIONALE:   Dumping 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. This practice is regarded as a form of price discrimination that can potentially harm the importing nation’s competing industries. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Remember
BUSPROG: Analytic
Marketing Mix
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: UYRAVMYU5PD7NH6B9990
QUESTION ID:   JFND-GO4G-G3BU-QQJT

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMB-CR3G-N3BW-CE5D-RC3U-CRSS-N3TA-CESU-R3BI-GOSU-GC5D-GCSS-K3DF-8R3D-GQBT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

49. 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.

ANSWER:   product invention
RATIONALE:   Khokho’s Coffee House is the first to introduce flavored coffee in the market. This indicates that it is creating new flavors based on popular flavors in different countries and is therefore engaged in product invention. In the context of global marketing, product invention can be taken to mean either creating a new product for a market or drastically changing an existing product. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Completion
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Apply
BUSPROG: Reflective Thinking
Global Adaptation
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: XWXREPQ50TJRCLDRW548
QUESTION ID:   JFND-GO4G-G3BU-QQJO

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJW-GHAU-R3TS-GIOS-CATZ-CESS-GQBT-CRSU-GP5F-GOSU-YPJ1-CWSU-E3UR-GTOS-CC5D-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

50. What are the benefits of globalization?

ANSWER:   Traditional economic theory says that globalization relies on competition to drive down prices and increase product and service quality. Business goes to the countries that operate most efficiently and/or have the technology to produce what is needed. In summary, globalization expands economic freedom, spurs competition, and raises the productivity and living standards of people in countries that open themselves to the global marketplace. For less developed countries, globalization also offers access to foreign capital, global export markets, and advanced technology while breaking the monopoly of inefficient and protected domestic producers. In developing countries around the world, globalization has created a vibrant middle class that has elevated the standard of living for hundreds of millions of people.
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Essay
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Understand
BUSPROG: Analytic
International Marketing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: EEKHTXMUA3DEZE22W451
QUESTION ID:   JFND-GO4G-G3BU-QQJZ

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJT-CRHD-13JZ-8BTD-KPT3-CWSU-OPTI-CESU-NCTO-GOSU-KCJZ-GWSU-1PMN-GRAD-RP3W-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

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

ANSWER:   To succeed, firms seeking to enter into foreign trade must still adhere to the principles of the marketing mix. Information gathered on foreign markets through research is the basis for the four Ps of global marketing strategy: product, place (distribution), promotion, and price. Marketing managers who understand the advantages and disadvantages of different ways of entering the global market and the effect of the external environment on the firm’s marketing mix have a better chance of reaching their goals. The first step in creating a marketing mix is developing a thorough understanding of the global target market.
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Essay
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Analyze
BUSPROG: Analytic
Marketing Mix
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: ETCF7ATW69AQ473NR367
QUESTION ID:   JFND-GO4G-G3BU-QQJS

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJW-GRAG-RPTT-CA4D-N3DF-GRSU-GCJU-8RSU-ECTW-GOSU-R3TZ-GYSU-KQBO-CW5U-CPJ1-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

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

ANSWER:   Because Facebook, YouTube, and other social media are popular around the world, firms both large and small have embraced social media marketing. For example, Tim Hortons, a Canadian-based fast-casual restaurant chain known for its coffee and donuts, has more than 3,000 stores. To engage its Facebook fans, the company will occasionally post a picture of one of its restaurants on Facebook, and its 1.4 million fans guess the location. Every time a fan makes a guess, Facebook posts a Tim Hortons branded message to that fan’s and his or her friends’ news feeds.
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Essay
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.06
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Understand
BUSPROG: Analytic
Internet
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: FRWUG3UYNDCNR7VMV157
QUESTION ID:   JFND-GO4G-G3BU-QQJI

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMB-CA3S-N3UF-GAAG-GC3W-GRSS-CPBI-CRSU-RAT1-GOSS-E3MB-8YSU-YCBT-GTTD-CPT3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

53. Identify a few disadvantages of global trade.

ANSWER:   Many people fear world trade and globalization because of the following disadvantages: Millions of Americans have lost jobs due to imports, production shifts abroad, or outsourcing of tech jobs. Some people find new jobs, but they often pay less than their old jobs. Millions of others fear losing their jobs, especially at companies operating under competitive pressure. Employers often threaten to outsource jobs if workers do not accept pay cuts. Service and white-collar jobs are increasingly vulnerable to operations moving offshore.
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Essay
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Understand
BUSPROG: Analytic
International Marketing
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: JWPJVUS7VR2HNRNWX787
QUESTION ID:   JFND-GO4G-G3BU-QQJW

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJ1-COAS-RPMR-CCAU-KAJ3-GASU-RPTI-8YSS-KC5R-GOSS-N3TS-GRSU-N3UD-8FUD-KAUR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

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

ANSWER:   One of the major factors in the external environment facing the global marketer is the level of economic development in the countries where it operates. In general, complex and sophisticated industries are found in developed countries, and more basic industries are found in less developed countries. Larger incomes mean greater purchasing power and demand, not only for consumer goods and services, but also for the machinery and workers required to produce consumer goods.
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Essay
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Understand
BUSPROG: Analytic
Economic Forces
DATE CREATED:   5/1/2015 4:22 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CGI: ZHFLXFP2PHWY33WUW909
QUESTION ID:   JFND-GO4G-G3BU-QTKN

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJO-CRAG-KCUN-8B1S-GA3Z-GYSU-O3MB-8RSU-GP3I-GOSS-NPMF-CASU-ECMB-CI1U-13UG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

55. ​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

 

ANSWER:   b
RATIONALE:   Outsourcing refers to sending U.S. jobs abroad. Many executives believe that outsourcing leads to corporate growth, efficiency, productivity, and revenue growth. Most companies see cost savings as a key driver in outsourcing. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Understand
BUSPROG: Analytic
International Marketing
DATE CREATED:   5/25/2015 11:43 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   AXQLW0SF9Y0JWDJHQ892
QUESTION ID:   JFND-GO4G-GR3W-EO4B

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJO-GI1S-CPUF-GW4U-NQMN-GWSS-KA3S-CESU-EP3U-GOSS-RA33-GCSU-CPT3-GCAU-O3MR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

56. ​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

 

ANSWER:   b
RATIONALE:   In this scenario, Melrow Inc. cuts costs by shifting its production units to another country because of the inexpensive labor available there. Therefore, Melrow Inc. is said to be engaged in outsourcing. Outsourcing refers to sending U.S. jobs abroad. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Apply
BUSPROG: Reflective Thinking
International Marketing
DATE CREATED:   5/25/2015 11:50 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   HQHZSC70J7U2KJ30P707
QUESTION ID:   JFND-GO4G-GR3W-EO3S

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMG-CR3D-KC3S-GY5D-E3B1-GOSU-GA3O-CESS-KCMB-GOSU-1A5N-GRSU-OCUR-8FOU-KPBI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

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

  a. ​outsourcing
  b. ​international franchising
  c. ​licensing
  d. ​inshoring

 

ANSWER:   d
RATIONALE:   Inshoring is the practice of returning production jobs to the United States. Increased fuel and transportation costs associated with long-distance shipping, coupled with falling United States energy costs, have given impetus to inshoring. See 5-1: Rewards of Global Marketing and the Shifting Global Business Landscape
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.01
TOPICS:   A-head: Rewards of Global Marketing and the Shifting Global Business Landscape
Bloom’s: Remember
BUSPROG: Analytic
International Marketing
DATE CREATED:   5/25/2015 11:53 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   TFBJ41HAYFVY7AUT5563
QUESTION ID:   JFND-GO4G-GR3W-ETNB

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJA-G71D-YCTI-G71D-GPJ1-GWSU-OQJA-CESS-NCJU-GOSU-KQJW-CASU-GC3T-GC4S-R3J3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

58. ​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

 

ANSWER:   a
RATIONALE:   D Feet Corp. is a first-stage multinational company as it manufactures its footwear in America but sells it to different countries around the world. Multinationals often develop their global business in stages. In the first stage, companies operate in one country and sell to others. See 5-2: Multinational Firms
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.02
TOPICS:   A-head: Multinational Firms
Bloom’s: Apply
BUSPROG: Reflective Thinking
Multinational Corporations
DATE CREATED:   5/25/2015 11:58 PM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   QGZX6367NLAK5U25U030
QUESTION ID:   JFND-GO4G-GR3W-ETBS

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMR-C31U-KP5B-GY4G-K3JW-GWSU-NCUG-CESU-RQDB-GOSS-R3JO-CESU-KPJZ-8Y5U-NCTI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

59. ​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

 

ANSWER:   a
RATIONALE:   Central to any society is a common set of values shared by its citizens that determines what is socially acceptable and what is not. A company that does not understand a country’s culture is doomed to failure in that country. Cultural blunders lead to misunderstandings and often perceptions of rudeness and even incompetence. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Understand
BUSPROG: Analytic
Culture
DATE CREATED:   5/26/2015 12:01 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   CQVSSNGCCNCNYYGY7844
QUESTION ID:   JFND-GO4G-GR3W-ECT3

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMG-COAD-13UG-GE3U-KQDG-GHSU-GCJU-CESU-O3J3-GOSS-CATO-GRSU-GPJZ-CR5D-YPMG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

60. ​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

 

ANSWER:   c
RATIONALE:   Irving Inc. fails to take into account the various styles of clothing that are deemed acceptable in various countries. By doing so, Irving Inc. failed to be sensitive to the cultural aspects of the countries. Culture underlies the family, the educational system, religion, and the social class system. A company that does not understand a country’s culture is doomed to failure in that country. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Challenging
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Apply
BUSPROG: Reflective Thinking
Culture
DATE CREATED:   5/26/2015 12:03 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   AKGQEUUMEQX5SHXBW876
QUESTION ID:   JFND-GO4G-GR3W-ECTT

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJI-CO3G-CCMF-COAD-CATO-8RSS-GP3I-CRSS-EC5D-GOSU-QC33-GASS-K3JI-GPUD-Y3TO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

61. ​A(n) _____ is a limit on the amount of a specific product that can enter a country.

  a. ​quota
  b. ​tariff
  c. ​boycott
  d. ​exchange control

 

ANSWER:   a
RATIONALE:   A quota is a limit on the amount of a specific product that can enter a country. Several U.S. companies have sought quotas as a means of protection from foreign competition. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Remember
BUSPROG: Analytic
Global Legal-Political Environment
DATE CREATED:   5/26/2015 12:06 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   AXXP5D4Y5QZGSCBRL582
QUESTION ID:   JFND-GO4G-GR3W-EC33

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJT-GH4D-1QBS-CWAU-EC5B-GCSU-1PMR-8YSS-CAJW-GOSU-OPDB-8RSS-NQJ3-GC5G-R3TU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

62. ​_____ 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. ​Exchange controls
  b. ​Market groupings
  c. ​Joint ventures
  d. ​Direct foreign investments

 

ANSWER:   b
RATIONALE:   Market groupings are trade alliances in which several countries agree to work together to form a common trade area that enhances trade opportunities among those countries. The best-known market grouping is the European Union (EU). See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Remember
BUSPROG: Analytic
Global Legal-Political Environment
DATE CREATED:   5/26/2015 12:08 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   LHWYWTT82CF84BJ3N457
QUESTION ID:   JFND-GO4G-GR3W-EC31

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMR-G31U-ECTI-CJTD-OPBA-GOSU-RA3O-8YSS-R3TS-GOSS-GC3I-CESS-C3TS-CR3G-G3TU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

63. ​_____ is the largest Latin American trade agreement and includes Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela.

  a. ​Mercosur
  b. ​General Agreement on Tariffs and Trade (GATT)
  c. ​The Uruguay Round
  d. ​The North American Free Trade Agreement (NAFTA)

 

ANSWER:   a
RATIONALE:   Mercosur is the largest Latin American trade agreement and includes Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela. A trade agreement is an agreement to stimulate international trade. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Remember
BUSPROG: Analytic
External Business Environment
DATE CREATED:   5/26/2015 12:11 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   DVHXKJEWYKXH62AET520
QUESTION ID:   JFND-GO4G-GR3W-ECNB

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJA-CRHD-G3MR-G7TD-KQJA-CESU-GA3Z-CRSU-RCT3-GOSU-RCMG-CRSU-CP31-8FTD-K3TU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

64. ​The _____ is a trade agreement that has dramatically lowered trade barriers worldwide and also created the World Trade Organization.

  a. ​European Union
  b. ​General Agreement on Tariffs and Trade (GATT)
  c. ​North American Free Trade Agreement (NAFTA)
  d. ​Uruguay Round

 

ANSWER:   d
RATIONALE:   The Uruguay Round is a trade agreement that has dramatically lowered trade barriers worldwide and also created the World Trade Organization. It is the most ambitious global trade agreement ever negotiated. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Remember
BUSPROG: Analytic
External Business Environment
DATE CREATED:   5/26/2015 12:13 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   HYFR1569R4MSW486H791
QUESTION ID:   JFND-GO4G-GR3W-ECBO

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJO-8FTG-CAMF-CITU-Q3BA-CRSU-RPTS-CESS-RCUD-GOSU-CCT1-CESU-C3TU-8B1U-OPJA-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

65. ​Aztic Inc., a manufacturer of sports goods, plans to expand its operations to a new country. As part of this expansion, it determines whether the population of the country is primarily rural or urban. In this case, Aztic Inc. is assessing the _____ of the country.

  a. ​political structure
  b. ​natural resources
  c. ​legal environment
  d. ​demographic makeup

 

ANSWER:   d
RATIONALE:   Aztic Inc. is assessing the country’s demographic makeup. Marketers need to know whether the population of a country is mostly urban or rural, because marketers may not have easy access to rural consumers. Another key demographic consideration is age. See 5-3: External Environment Faced by Global Marketers
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.03
TOPICS:   A-head: External Environment Faced by Global Marketers
Bloom’s: Apply
BUSPROG: Reflective Thinking
Demographics
DATE CREATED:   5/26/2015 12:16 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   EDDHWEEWEBJRV9Z5Y771
QUESTION ID:   JFND-GO4G-GR3W-ECBW

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJI-GCHD-Y3T1-GCAU-OPBW-CWSS-RCJA-8RSU-EAJI-GOSU-RA5B-CRSU-CPT1-CA5D-R3MB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

66. ​A(n) _____ is an intermediary who brings a buyer and a seller together.

  a. ​licenser
  b. ​export broker
  c. ​contract manufacturer
  d. ​export merchant

 

ANSWER:   b
RATIONALE:   An export broker is an intermediary who plays the traditional broker’s role by bringing buyer and seller together. The manufacturer still retains title and assumes all the risks. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Remember
BUSPROG: Analytic
Exporting
DATE CREATED:   5/26/2015 12:18 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   FPPQKFFWYJ71AUN12494
QUESTION ID:   JFND-GO4G-GR3W-ECKD

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMR-COAD-1A33-CO5U-EATT-GCSU-RCJZ-CRSS-RPBA-GOSS-GAUR-GASS-EA3A-GC5D-G3MD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

67. ​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 _____.

  a. ​licensing
  b. ​contract manufacturing
  c. ​exporting
  d. ​importing

 

ANSWER:   a
RATIONALE:   Licensing is the legal process whereby a licensor allows another firm to use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge. The licensee, in turn, pays the licensor a royalty or fee agreed on by both parties. Vimonland Theme Park is selling an investment firm the rights to run its theme park in a foreign country. The investment company pays Vimonland Theme Park a percentage of its profits as royalties. Therefore, this is an example of licensing. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Apply
BUSPROG: Reflective Thinking
International Licensing
DATE CREATED:   5/26/2015 12:21 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   PDCC6VQMHKV9101FF796
QUESTION ID:   JFND-GO4G-GR3W-ECJW

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJS-GAAS-GP3Z-GF1D-CCTO-CWSS-CCJW-CRSU-RQDB-GOSU-RC5D-GYSU-EPDF-GHHS-K3TA-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

68. ​In the context of global marketing, when a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity, it is known as a _____.

  a. ​countertrade
  b. ​franchise
  c. ​joint venture
  d. ​common trade alliance

 

ANSWER:   c
RATIONALE:   In an international joint venture, the domestic firm buys part of a foreign company or joins with a foreign company to create a new entity. Joint ventures are somewhat similar to licensing agreements. See 5-4: Global Marketing by the Individual Firm
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.04
TOPICS:   A-head: Global Marketing by the Individual Firm
Bloom’s: Remember
BUSPROG: Analyze
Joint Ventures
DATE CREATED:   5/26/2015 12:23 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   EVLHFUAQW7AWJMKLE460
QUESTION ID:   JFND-GO4G-GR3W-EP1D

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJ1-G3TG-CAJO-CF1G-GA3S-COSS-CQJZ-8RSS-RPMF-GOSS-CPMB-GESS-GCMF-CW4G-RAJ3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

69. ​D’Costas, an authentic Mexican restaurant, has many restaurants all over the world. The taste and authenticity of the food served is the same irrespective of the restaurant one visits. Based on this information, D’Costas follows the strategy of _____.

  a. ​retail channel omnification
  b. ​product adaptation
  c. ​mass customization
  d. ​global marketing standardization

 

ANSWER:   d
RATIONALE:   D’Costas maintains the same taste and authenticity of food in all its restaurants. Therefore, it follows the strategy of global marketing standardization. Developing a single product for all markets and promoting it the same way all over the world is known as global marketing standardization. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Apply
BUSPROG: Reflective Thinking
Global Adaptation
DATE CREATED:   5/26/2015 12:26 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   AYXP7F287AT1MUSPG438
QUESTION ID:   JFND-GO4G-GR3W-EPTI

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJA-CW4D-KA3S-GEAD-OPUN-CESU-OPUR-8YSS-CAJI-GOSU-NPJA-CWSS-NPJ1-GY5U-N3J3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

70. ​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.

  a. ​product invention
  b. ​promotion adaptation
  c. ​global marketing standardization
  d. ​product adaptation

 

ANSWER:   a
RATIONALE:   Khokho’s Coffee House is the first to introduce flavored coffee in the market. This indicates that it is creating new flavors based on popular flavors in different countries and is therefore engaged in product invention. In the context of global marketing, product invention can be taken to mean either creating a new product for a market or drastically changing an existing product. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Apply
BUSPROG: Reflective Thinking
Global Adaptation
DATE CREATED:   5/26/2015 12:28 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   XWXREPQ50TJRCLDRW548
QUESTION ID:   JFND-GO4G-GR3W-EP4G

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJT-8RAU-13TA-CA5U-QQJS-GESU-KPMD-8YSU-G3DR-GOSU-GCMN-GRSS-CATZ-CTTU-KPJT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

71. ​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 _____.

  a. ​countertrade
  b. ​floating exchange rates
  c. ​dumping
  d. ​contract manufacturing

 

ANSWER:   b
RATIONALE:   Currency markets operate under a system of floating exchange rates, a system in which the prices of different currencies move up or down based on the demand for and supply of each currency. Global currency traders create the supply of and demand for a particular country’s currency based on that country’s investment, trade potential, and economic strength. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Remember
BUSPROG: Analytic
Pricing
DATE CREATED:   5/26/2015 12:31 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   NRUQ0MB8PNMYN475H631
QUESTION ID:   JFND-GO4G-GR3W-EP3Z

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMG-CJ1D-GPJI-G3TS-RPJ1-GRSU-QPBZ-CESS-CP3U-GOSU-N3MB-GCSU-EQBZ-8Y5U-E3JT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

72. ​_____ 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.

  a. ​Exporting
  b. ​Dumping
  c. ​Boycotting
  d. ​Contract manufacturing

 

ANSWER:   b
RATIONALE:   Dumping 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. This practice is regarded as a form of price discrimination that can potentially harm the importing nation’s competing industries. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Remember
BUSPROG: Analytic
Marketing Mix
DATE CREATED:   5/26/2015 12:34 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   UYRAVMYU5PD7NH6B9990
QUESTION ID:   JFND-GO4G-GR3W-EPBA

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMF-GE3S-K3DB-GE4G-KCMD-COSU-GCT1-CRSU-GCUN-GOSU-EQJZ-GHSU-YAMN-GF1S-GCUF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

73. ​_____ is a fast-growing way to conduct global business in which all or part of the payment for goods or services is in the form of other goods and services.

  a. ​Countertrade
  b. ​Global market standardization
  c. ​Exporting
  d. ​Market grouping

 

ANSWER:   a
RATIONALE:   Global trade does not always involve cash. Countertrade is a fast-growing way to conduct global business. In countertrade, all or part of the payment for goods or services is in the form of other goods and services. See 5-5: The Global Marketing Mix
POINTS:   1
DIFFICULTY:   Easy
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.05
TOPICS:   A-head: The Global Marketing Mix
Bloom’s: Remember
BUSPROG: Analytic
Marketing Mix
DATE CREATED:   5/26/2015 12:36 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   AMDLKTU2ER3BMNLEF197
QUESTION ID:   JFND-GO4G-GR3W-EPBS

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJA-GW4G-RQB3-CE4G-GC31-CRSS-R3B1-CESU-YCUD-GOSU-R3B1-8RSS-RC3O-GJTS-NA3S-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

74. ​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.

  a. ​social media marketing
  b. ​product adaptation
  c. ​contract manufacturing
  d. ​countertrade

 

ANSWER:   a
RATIONALE:   Fashion Spell is making use of social media marketing to keep in touch with its customers. Making use of social media sites such as Facebook is an example of social media marketing. See 5-6: The Impact of the Internet
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.06
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Apply
BUSPROG: Reflective Thinking
Social Media Strategy
DATE CREATED:   5/26/2015 12:39 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   TWYBP4V4LMFSERYEY740
QUESTION ID:   JFND-GO4G-GR3W-EPKR

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMJI-C31D-YP31-CIOU-O3JU-GRSS-K3JW-CESU-EC3S-GOSS-GQDB-GYSU-YQDB-8R4U-1CBO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

75. ​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 _____.

  a. ​contract manufacturing
  b. ​using social media to expand beyond local markets
  c. ​using dumping to export products
  d. ​product differentiation

 

ANSWER:   b
RATIONALE:   The print studio uses social media such as Facebook and Pinterest to display its products. This attracts the attention of several companies worldwide, thus allowing the firm to expand beyond local markets. Opening an e-commerce site on the Internet immediately puts a company in the international marketplace. See 5-6: The Impact of the Internet
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.06
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Apply
BUSPROG: Reflective Thinking
Social Media Strategy
DATE CREATED:   5/26/2015 12:42 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   SYME9CH2SUGCUU3G4116
QUESTION ID:   JFND-GO4G-GR3W-EPJI

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMD-GA3S-G3DN-COHD-Y3B1-GYSS-E3J1-CRSS-GCMR-GOSS-RATZ-8YSS-KCJW-COAS-NC3T-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

76. ​Maria likes visiting different restaurants and trying out a variety of cuisines. She writes her experiences on a Web page, titled Maria’s Experiences, which can be read by people all around the world. She also reviews restaurants, and members of her Web page are entitled to post their comments and suggestions. Based on this information, Maria’s Experiences is an example of a(n) _____.

  a. ​blog
  b. ​online forum
  c. ​widget
  d. ​e-commerce Web site

 

ANSWER:   a
RATIONALE:   Maria’s Experiences is an example of a blog as it functions as a journal in which Maria writes her experiences with restaurants and allows members to read and leave their comments. A blog is a publicly accessible Web page that functions as an interactive journal, where readers can post comments on the author’s entries See 5-6: The Impact of the Internet
POINTS:   1
DIFFICULTY:   Moderate
QUESTION TYPE:   Multiple Choice
HAS VARIABLES:   False
LEARNING OBJECTIVES:   MKTG.LAMB.15.05.06
TOPICS:   A-head: The Impact of the Internet
Bloom’s: Apply
BUSPROG: Reflective Thinking
Social Media Strategy
DATE CREATED:   5/26/2015 12:45 AM
DATE MODIFIED:   5/26/2015 12:51 AM
CUSTOM ID:   HESDZ7YZMEJ9YK39R542
QUESTION ID:   JFND-GO4G-GR3W-KOKF

 

QUESTION GLOBAL ID:   GCID-E7BW-1TBP-GPTU-OCB1-GITD-RQB3-CCHN-4CTO-8FTN-4PJI-GW4N-4AUN-8BO1-43UG-8FOS-E3MD-CPDI-GWN8-EPRW-EMMF-GO3D-RAJU-GAAS-CAMB-8RSU-OCJZ-CESU-RCMD-GOSU-OQBS-COSU-KQDN-GJ1G-GCUR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

 

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