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Developing a Global Vision 2
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Developing a Global Vision 2
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25 Questions

1. While some countries have elements of both capitalism and socialism, most nations are at one political extreme or the other.
2. According to research done by the World Bank, countries with the greatest amount of business regulation foster the strongest economies.
3. Private-label manufacturing by a foreign country is called franchising.
4. Having a global vision means management recognizes and reacts to international marketing opportunities, uses effective global marketing strategies, and is aware of threats from foreign competitors in all markets.
5. Global marketing standardization presumes that the markets throughout the world are becoming more alike.
6. The Group of Twenty is the largest free trade agreement in the world.
7. Multinational companies typically begin the development of their global business with direct investment and continue using this strategy throughout the company's life span.
8. The form of global organization that provides the highest potential for return on investment as well as the highest level of risk is contract manufacturing.
9. Global trade has climbed to about $200 billion a year.
10. U.S.-based Procter & Gamble and Italian-based Fater agreed to produce and market diapers for the European market. This is an example of a joint venture.
11. The rules, regulations, and habits used for brick-and-mortar stores tend to restrain and limit the success of those retailers engaged in e-commerce.
12. NAFTA is the New American Foreign Trade Amendment, which allows for balanced trade with the European Union (EU).
13. In general, average family incomes are higher in more developed countries than in the less developed countries.
14. Marketers typically target lower-income consumers when they enter global markets.
15. The U.S. government limits the amount of sugar cane that is imported into the country. This is an example of a tariff.
16. If a country’s currency appreciates, more of that currency will be needed to buy another country’s currency.
17. The same environmental factors that operate in the domestic market also exist internationally. These factors (culture, economic, political structure and actions, demographic makeup, and natural resources) should be examined regardless of the country.
18. The Uruguay Round of trade negotiations dramatically increased trade barriers worldwide.
19. Global marketing research is not any more difficult than domestic marketing research.
20. The U.S. government prohibits the importation of Havana cigars because of political differences with Cuba. This is an example of a boycott.
21. 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.
22. Suppose a Chinese firm makes computer chips at $4.00 per chip but sells the chips for $2.00 in American markets. American producers of computer chips cannot supply chips at the low rates that the Chinese firm is supplying them. The Chinese firm is engaging in dumping.
23. The European Union Commission and the courts have come under widespread criticism for 'rubber-stamping' or approving most business deals involving U.S. multinationals.
24. The falling U.S. dollar makes the possibility of manufacturing in the United States more attractive than in the past.
25. Globalization deserves credit for helping lift many nations out of poverty and for improving standards of living of low-wage families.

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