Global Marketing Exam Preparation Guide
Course Introduction
Global Marketing explores the principles and strategies involved in marketing goods and services across international borders. The course examines the complexities of the global marketplace, including cultural, economic, political, and legal factors that influence marketing decisions. Students will learn about market entry strategies, global branding, segmentation, and the coordination of marketing programs across diverse regions. Through case studies and real-world examples, the course emphasizes the importance of adapting marketing strategies to suit different cultures and markets while maintaining a cohesive brand identity worldwide.
Recommended Textbook
Global Business Today 8th Edition by
Charles W. L. Hill
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17 Chapters
2491 Verified Questions
2491 Flashcards
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Page 2
Chapter 1: Globalization
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) The IMF is less controversial than its sister institution,the World Bank.
A)True
B)False
Answer: False
Q2) Which of the following statements is true about the implications of revolutions occurring in China for international businesses?
A) China is moving away from free market economic system.
B) China represents a huge and largely untapped market for international business.
C) Between 1983 and 2010, the foreign direct investment in China decreased dramatically.
D) China's new firms have failed to be capable competitors in the global market.
E) China is continuously discouraging the use of free market economy.
Answer: B
Q3) Differences among countries require that an international business vary its practices country by country.
A)True
B)False
Answer: True
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3
Chapter 2: National Differences in Political Economy
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Sample Questions
Q1) In a pure command economy,the goods and services that a country produces,the quantity in which they are produced,and the prices at which they are sold are all dictated by the interaction of demand and supply.
A)True
B)False
Answer: False
Q2) The fascist regimes that ruled Germany and Italy in the 1930s and 1940s had adopted:
A) right-wing totalitarianism.
B) theocratic totalitarianism.
C) representative democracy.
D) pure democracy.
E) totalitarian democracy.
Answer: A
Q3) The term political economy is used to stress the fact that the political,economic,and legal systems of a country are independent of each other.
A)True
B)False
Answer: False
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Page 4
Chapter 3: Political Economy and Economic Development
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136 Verified Questions
136 Flashcards
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Sample Questions
Q1) One common measure of economic development is a country's:
A) gender ratio.
B) gross national income.
C) infant mortality rate.
D) population density.
E) total geographical area.
Answer: B
Q2) The _____ is based on three measures: life expectancy at birth,educational attainment,and average incomes based on PPP estimates.
A) Human Development Index
B) Gross National Income
C) Gross Domestic Product
D) Cost of Living Index
E) Cash Reserve Ratio
Answer: A
Q3) According to Freedom House,all democracies are free countries in terms of political and civil liberties.
A)True
B)False
Answer: False
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Chapter 4: National Differences in Culture
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Sample Questions
Q1) Which of the following statements is true about Hinduism?
A) Hinduism supported India's caste system.
B) Hinduism allows mobility between castes within an individual's lifetime.
C) Max Weber argued that Hinduism encourages entrepreneurial activity.
D) Hindus do not believe in reincarnation, or rebirth into a different body, after death.
E) Hinduism was founded by Siddhartha Gautama, an Indian prince.
Q2) What are the two different banking methods that Islamic banks have experimented with in order to avoid the payment or receipt of interest?
Q3) Jack,the CEO of Silver Touch Inc.,raised his eyebrow in surprise at a new employee's valid suggestion to improve the sales turnover.He made a thumbs-up gesture as a sign of approval for the implementation of the employee's suggestion.Jack is typically using:
A) spoken communication.
B) nonverbal communication.
C) explicit communication.
D) oral communication.
E) grapevine communication.
Q4) Briefly describe the five cultural dimensions in Hofstede's model.
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6
Chapter 5: Ethics in International Business
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150 Flashcards
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Sample Questions
Q1) Which of the following statements is true about Sullivan principles?
A) They were widely opposed by U.S. firms, such as General Motors, operating in South Africa.
B) They promoted the abolition of apartheid laws.
C) It has been argued that they led to the violation of human rights in South Africa.
D) These principles were against the introduction of democratic elections in South Africa.
E) Western businesses that followed these principles were considered unethical.
Q2) Leon Sullivan argued that it was ethically justified for Western businesses to operate in South Africa so long as the companies obeyed the apartheid laws.
A)True
B)False
Q3) Facilitating payments are payments to secure contracts that would not otherwise be secured.
A)True
B)False
Q4) Who are a firm's stake holders? What are the two types of stakeholders?
Q5) Discuss John Rawls principles of justice.
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Chapter 6: International Trade Theory
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Sample Questions
Q1) According to the new trade theory,which of the following is most likely to be a result of market expansion due to trade?
A) A wide variety of products is produced at greater unit costs than in the absence of trade.
B) As the variety of products increases, demand for individual products decreases, leading to non-realization of economies of scale.
C) Each nation may specialize in producing a narrower range of products, importing goods that it does not make.
D) The ability to capture first-mover advantages is restricted in a world that allows trade.
E) When countries do not differ in their resource endowments or technology, trade does not offer mutual benefits.
Q2) Briefly explain how demand conditions shape the environment in which local firms compete.
Q3) Factor endowments are unit cost reductions associated with a large scale of output.
A)True
B)False
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8
Chapter 7: The Political Economy of International Trade
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138 Verified Questions
138 Flashcards
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Sample Questions
Q1) Which of the following indicates the reason for the British Parliament repealing the Corn Laws in 1846?
A) Opium wars that polarized world opinion against Great Britain
B) Harvest failure in Britain and the imminent threat of famine in Ireland
C) Imminent threat of rebellions in most of its colonies
D) Conservatives taking over the government from the Liberals
E) Rise of nationalism in Europe
Q2) What constitutes the revised case for free trade?
Q3) The extra profit that producers make when supply is artificially limited by an import quota is referred to as a:
A) net profit.
B) quota rent.
C) trade surplus.
D) profit margin.
E) quota share.
Q4) What is a voluntary export restraint? Why do exporting countries agree to VERs? Explain with an example.
Q5) Export tariffs are far more common than import tariffs.
A)True
B)False
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Chapter 8: Foreign Direct Investment
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135 Verified Questions
135 Flashcards
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Sample Questions
Q1) Offshore production refers to FDI undertaken to serve the host market.
A)True
B)False
Q2) When a firm exports its products to a foreign country,foreign direct investment occurs.
A)True
B)False
Q3) Describe the role of WTO in the liberalization of FDI.
Q4) The most important concerns regarding the costs of FDI for the home-country center on:
A) the balance-of-payments and employment effects of outward FDI.
B) the technology capture effect and the perceived loss of national sovereignty.
C) the reverse-resource transfer effect and the exposure to foreign markets caused by FDI.
D) the import of substantial input from abroad and being held to "economic ransom."
E) the exposure to foreign markets and the decreased costs of production.
Q5) Briefly describe the changes taking place in the attitudes toward FDI in countries across the globe.
Q6) Describe Dunning's arguments regarding the location-specific advantages.
Page 10
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Chapter 9: Regional Economic Integration
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142 Verified Questions
142 Flashcards
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Sample Questions
Q1) Suppose the country of Ceria and Lithinia imposed tariffs on imports from all countries,and then they set up a free trade area,scrapping all trade barriers between themselves but maintaining tariffs on imports from the rest of the world.Now,Ceria begins to import sugar from Lithinia.However,Ceria had previously been importing sugar from another country,Cadnia,which produced sugar more cheaply than Ceria or Lithinia.This is known as _____.
A) trade creation
B) strategic pricing
C) synergy
D) trade diversion
E) protectionism
Q2) The North American Free Trade Agreement (NAFTA)refers to the free trade area between Canada,Mexico,and the United States.
A)True
B)False
Q3) Briefly describe the European Council.
Q4) Briefly describe the concept of regional economic integration.
Q5) Describe the arguments for the North American Free Trade Agreement (NAFTA).
Q6) Briefly describe the benefits of the euro.
Page 11
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Chapter 10: The Foreign Exchange Market
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150 Flashcards
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Sample Questions
Q1) In terms of foreign exchange,which of the following observations is true of leading and lagging strategies?
A) They are easy to implement.
B) They primarily protect long-term cash flows from adverse changes in exchange rates.
C) Firms need minimal bargaining power to implement them.
D) They can put pressure on a weak currency.
E) They accelerate payments from strong-currency to weak-currency countries.
Q2) The yen/dollar exchange rate is ¥120 = $1 in London and ¥123 = $1 in New York at the same time.What is the net profit if a dealer takes $1,000,000 to purchase ¥1,23,000,000 in New York and engages in arbitrage by selling it in London?
A) $34,000
B) $20,390
C) $25,000
D) $46,666
E) $39,454
Q3) Spot exchange rates and the 30-day forward rates are the same.
A)True
B)False
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Chapter 11: The International Monetary System
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148 Flashcards
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Sample Questions
Q1) Which of the following statements is true about the various exchange rate systems?
A) In a fixed exchange rate system, the value of a currency is adjusted according to the day to day market forces.
B) In a clean float, the central bank of a country will intervene in the foreign exchange market to try to maintain the value of its currency.
C) After the collapse of the Bretton Woods system of floating exchange rates in 1973, the world has operated with a fixed exchange rate system.
D) According to the Bretton Woods system, the value of most currencies in terms of U.S. dollars was allowed to change only under a specific set of circumstances.
E) In dirty float, the exchange rate between a currency and other currencies is relatively fixed against a reference currency exchange rate.
Q2) At times,elements of currency,banking,and debt crises may be present simultaneously in a region.
A)True
B)False
Q3) Explain the concept of a currency board.
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Page 13
Chapter 12: The Strategy of International Business
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) Spreading fixed costs over a large volume results in a cost-savings phenomenon which is referred to as:
A) volume synergies.
B) economies of scale.
C) captured savings.
D) size effects.
E) location economies.
Q2) What constitutes an organizational structure?
Q3) The experience curve refers to systematic increase in production costs that have been observed to occur over the life of a product.
A)True
B)False
Q4) _____ is a value creation activity which falls into the category of primary activities.
A) Creation and maintenance of information systems
B) Customer service
C) Human resources
D) Logistics
E) Company infrastructure maintenance
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Chapter 13: Entering Foreign Markets
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150 Flashcards
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Sample Questions
Q1) Describe turnkey projects as an entry mode into a foreign market.
Q2) What are the consequences of an international firm entering a foreign market on a significant scale?
Q3) _____ refer to costs that an early entrant in a foreign market has to bear that a later entrant can avoid.
A) Sunk costs
B) Standard costs
C) Variable costs
D) Pioneering costs
E) Opportunity costs
Q4) In a typical international licensing deal,a licensor puts up most of the capital necessary to get an overseas operation going.
A)True
B)False
Q5) Establishing a wholly owned subsidiary gives an international firm a 100 percent share in the profits generated in a foreign market.
A)True
B)False
Q6) Describe the pros and cons of greenfield ventures.
Page 15
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Chapter 14: Exporting, Importing, and Countertrade
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Export credit insurance protects an exporter against the possibility of a foreign importer's default on payment when there is a lack of a letter of credit.
A)True
B)False
Q2) It often makes sense for a firm to enter a foreign market on a large scale to reduce the costs of any subsequent failure.
A)True
B)False
Q3) Through its _____ program,the Small Business Administration oversees almost 11,500 volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses.
A) Export Legal Assistance Network
B) Service Corps of Retired Executives
C) International Trade Veteran's Group
D) Network of Foreign Trade Executives
E) Export Management Company
Q4) Describe the Foreign Credit Insurance Association (FCIA).What types of risks does it cover?
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Chapter 15: Global Production, Outsourcing, and Logistics
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148 Verified Questions
148 Flashcards
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Sample Questions
Q1) A wide product variety makes it easier for a firm to increase its production efficiency and thus reduce its unit costs.
A)True
B)False
Q2) In international business,a relatively high level of fixed costs can make it economical to perform a particular activity in several locations at once.
A)True
B)False
Q3) Flexible manufacturing technologies help a company achieve mass customization,which increases its _____.
A) cost structure
B) waste
C) customer responsiveness
D) learning effects
E) externalities
Q4) The objectives of reducing costs and increasing quality in a firm are independent of each other.
A)True
B)False
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Chapter 16: Global Marketing and R-D
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) Which of the following functions of an international business is required to create new products?
A) Supply chain
B) Logistics
C) Operations
D) Research and development
E) Customer service
Q2) Briefly describe the influence of the location of research and development on new-product development.
Q3) Predatory pricing and experience curve pricing do not violate antidumping regulations.
A)True
B)False
Q4) A _____ refers to the means that a firm chooses for delivering a product to its consumer.
A) pull strategy
B) distribution strategy
C) push strategy
D) communication strategy
E) pricing strategy
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Chapter 17: Global Human Resource Management
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150 Flashcards
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Sample Questions
Q1) From a strategic perspective,the key issue in international labor relations is:
A) dealing with multiple business units.
B) the degree to which organized labor can limit the choices of an international business.
C) whether to hire parent-country nationals, host-country nationals, or third-country nationals.
D) helping expatriates cope with new role demands.
E) the extent to which a reciprocal tax treaty can be brought into effect.
Q2) According to Mendenhall and Oddou,which of the following is a dimension that seems to predict success in a foreign posting?
A) Others-orientation
B) Learning effects
C) Dynamic capabilities
D) Eclectic paradigm
E) Factor endowments
Q3) In international businesses,a polycentric staffing policy increases the costs of value creation.
A)True
B)False
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