International Marketing Textbook
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Course Introduction
International Marketing explores the strategies and practices employed by businesses to market products and services across national boundaries. The course covers key topics such as market entry modes, global market research, cultural influences on consumer behavior, international branding, pricing strategies, and distribution channels in diverse economic and regulatory environments. Emphasis is placed on analyzing global marketing opportunities, adapting marketing plans to suit different cultural contexts, and understanding the impact of international trends, digital technologies, and ethical considerations on marketing initiatives. Students gain practical skills through case studies and projects that simulate real-world global marketing decision-making.
Recommended Textbook
Global Business Today 9Th Edition by Charles
W. L. Hill
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Chapter 1: Globalization
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Q1) Explain the factors that led to the Great Depression of the 1930s.
Answer: Many of the barriers to international trade took the form of high tariffs on imports of manufactured goods. The typical aim of such tariffs was to protect domestic industries from foreign competition. One consequence, however, was "beggar thy neighbor" retaliatory trade policies, with countries progressively raising trade barriers against each other. Ultimately, this depressed world demand and contributed to the Great Depression of the 1930s.
Q2) The United States accounted for a significantly larger share of the world economy in 2012 than it did in the 1960s.
A)True
B)False
Answer: False
Q3) In general, as countries get richer, they enact tougher environmental and labor regulations.
A)True
B)False
Answer: True
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Chapter 2: National Differences in Political, Economic, and Legal Systems
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Q1) Describe the significance of Contracts for the International Sale of Goods (CIGS).
Answer: When contract disputes arise in international trade, there is always the question of which country's laws to apply. To resolve this issue, a number of countries, including the United States, have ratified the United Nations Convention on Contracts for the International Sale of Goods (CIGS). The CIGS establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations. By adopting the CIGS, a nation signals to other adopters that it will treat the convention's rules as part of its law. The CIGS applies automatically to all contracts for the sale of goods between different firms based in countries that have ratified the convention, unless the parties to the contract explicitly opt out. One problem with the CIGS, however, is that as of late 2013, only 80 nations have ratified the convention (the CIGS went into effect in 1988). Some of the world's important trading nations, including the United Kingdom, have not ratified the CIGS.
Q2) Intellectual property laws stimulate innovation and creative work.
A)True
B)False
Answer: True
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Chapter 3: National Differences in Economic Development
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Q1) The collapse of communism will result in the new world order that will be dominated by a universal civilization characterized by democratic regimes and free market capitalism, according to:
A)Amartya Sen.
B)Samuel Huntington.
C)Jeffrey Sachs.
D)Francis Fukuyama.
E)Adam Smith.
Answer: D
Q2) Generally, the costs and risks associated with doing business in a foreign country are typically lower in:
A)less developed countries.
B)economically advanced countries.
C)totalitarian states.
D)countries with high inflation and falling living standards.
E)countries that lack intellectual property rights.
Answer: B
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Chapter 4: Differences in Culture
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Q1) Like Christianity and Judaism, Islam is a monotheistic religion.
A)True
B)False
Q2) In the Republic of Cedia, people are extremely conscious about their social backgrounds. This in turn regulates their relationships with members of other classes. As a result of the heightened class consciousness:
A)the mobility between the social classes of the Cedian society will increase.
B)the level of industrial disruption and industrial disputes will be low.
C)most of the population will perceive itself to be middle class.
D)an antagonistic relationship will exist between management and labor classes.
E)successful individuals, irrespective of their origins, will be highly respected.
Q3) When schools emphasize respect for others, obedience to authority, honesty, neatness, being on time, and use a grading system, they are:
A)teaching children to be noncompetitive.
B)impinging on fundamental freedoms and values.
C)indirectly teaching cultural values and norms.
D)indirectly creating a rigid caste system.
E)unnecessarily deviating from formal education.
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Chapter 5: Ethics, Corporate Social Responsibility, and Sustainability
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Q1) The internal stakeholders of a company do not have an exchange relationship with the company.
A)True
B)False
Q2) Ten years after he proposed what came to be known as Sullivan's principles, Leon Sullivan concluded that following his principles:
A)was the most ethical way of doing business in South Africa.
B)was not sufficient to ethically justify the existence of Western businesses in South Africa.
C)would be effective only when companies opposed democracy in South Africa.
D)had led international companies to successfully combat the apartheid regime in South Africa.
E)would safeguard the citizens and businesses in South Africa from Western businesses.
Q3) Kantian ethics asserts that if a manager of a multinational sees that firms from other nations are not following ethical norms in a host nation, that manager should not either.
A)True
B)False
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Chapter 6: International Trade Theory
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Q1) The first theory of international trade that emerged in England asserted that gold and silver were the mainstays of national wealth and essential to vigorous commerce.
A)True
B)False
Q2) The economic and strategic advantages that accrue to early entrants in an industry are called:
A)first-mover advantages.
B)comparative advantages.
C)absolute advantages.
D)economies of scale.
E)factor endowments.
Q3) Porter, in his diamond model, suggested that there is a strong association between which of the following and the creation and persistence of competitive advantage in an industry?
A)Trade barriers
B)Vigorous domestic rivalry
C)Purchasing power parity
D)The availability of a captive market
E)First-mover advantages
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Chapter 7: Government Policy and International Trade
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Q1) According to Paul Krugman, a country that attempts to use strategic trade policy to establish a domestic firm in a dominant position in a global industry, is most likely to:
A)dominate the industry.
B)move away from protectionism.
C)provoke retaliation.
D)incur huge financial debts.
E)upset the special-interest groups within the economy.
Q2) What conclusions can be derived from economic analysis of the effect of import tariffs?
Q3) Which of the following groups would benefit the most from receiving subsidies?
A)Governments
B)International organizations such as the WTO
C)Domestic producers
D)Importers
E)Foreign competitors
Q4) Briefly describe the implications of the strategic trade policy as applied to international trade.
Q5) What are the political arguments for government intervention into international trade? Give examples.
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Chapter 8: Foreign Direct Investment
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Q1) When a country is importing more goods and services than it is exporting, it is incurring a(n):
A)trade surplus.
B)current account deficit.
C)positive balance of payment.
D)economic recession.
E)net capital inflow.
Q2) In the context of FDI, describe the political ideologies of the radical view, the free market view, and pragmatic nationalism.
Q3) Which of the following products has a low value-to-weight ratio?
A)Electronic components
B)Personal computers
C)Medical equipment
D)Computer software
E)Cement
Q4) Describe the role of the WTO in the liberalization of FDI.
Q5) "Firms prefer to acquire existing assets rather than undertake greenfield investments while contemplating FDI." Explain the reasons that support this argument.
Q6) What are the benefits of FDI to the home (source) country?
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Chapter 9: Regional Economic Integration
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Q1) Which of the following is true of the Court of Justice?
A)The judges are required to act as representatives of national interests.
B)It comprises several judges from a few selected countries.
C)It is the supreme appeals court for European Union law.
D)A member country cannot bring another member country to this court.
E)Member countries cannot bring the commission or the council to this court.
Q2) Which of the following is true of the Andean Pact of 1969?
A)Political and economic problems seem to have hindered cooperation among member countries of the Andean Pact.
B)By the mid-1980s, the Andean Pact achieved most of its stated objectives.
C)The dominant political ideology in many of the Andean countries tended toward the democratic end of the political spectrum.
D)The Galápagos Declaration effectively replaced the Andean Pact in 1997.
E)The Andean Pact sought to remove a common external tariff.
Q3) The emphasis of the European Free Trade Association has been on free trade in consumer goods.
A)True
B)False
Q4) Describe the drawbacks of the euro.
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Chapter 10: The Foreign Exchange Market
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Q1) Which of the following instances indicates that the dollar is selling at a premium on the 30-day forward market?
A)The spot exchange rate is currently $1 = ×120 and changes to $1 = ×130 after 30 days.
B)The spot exchange rate is currently $1 = ×120 and changes to $1 = ×110 after 30 days.
C)The current spot exchange rate is $1 = ×120 and the 30-day forward rate is $1 = ×110 after 30 days.
D)The current spot exchange rate is $1 = ×120 and the 30-day forward rate is $1 = ×130 after 30 days.
E)The current spot exchange rate is $1 = ×120 and the 30-day forward rate is $1 = ×120.
Q2) Relative monetary growth, relative inflation rates, and nominal interest rate differentials are all moderately good predictors of long-run changes in exchange rates. A)True
B)False
Q3) How do foreign exchange markets benefit international businesses?
Q4) What is the Fisher effect?
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Chapter 11: The International Monetary System
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Q1) Which of the following refers to the institutional arrangements that govern exchange rates?
A)Generally accepted accounting principles
B)General agreement on tariffs and trade
C)International monetary system
D)General agreement on trade in services
E)Financial management information system
Q2) The International Monetary Fund has been criticized for:
A)its lack of a "one-size-fits-all" approach to macroeconomic policy.
B)encouraging moral hazard among banks.
C)its lack of power and authority.
D)using external experts to gain knowledge about a country.
E)keeping its operations open to outside scrutiny.
Q3) The activities of the International Monetary Fund have declined after the collapse of the Bretton Woods system in 1973.
A)True
B)False
Q4) In terms of speculation, describe the arguments for a fixed exchange rate system.
Q5) What changes have occurred in the International Monetary Fund in recent years?
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Chapter 12: The Strategy of International Business
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Q1) What constitutes an organizational structure?
Q2) Of all the value creation activities in a firm, which of the following creates value by discovering consumer needs and communicating them back to the R&D function of the company, which can then design products that better match those needs?
A)Production
B)Marketing and sales
C)Human resources
D)Logistics
E)Information systems
Q3) Cost reduction pressures tend to be particularly intense in industries that:
A)create products that serve universal needs.
B)create customized products.
C)are not involved in international business.
D)produce products that have inelastic demand.
E)serve different customers with different needs.
Q4) In terms of attaining a competitive advantage, support activities can be as important as the primary activities of the firm.
A)True
B)False
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Chapter 13: Entering Foreign Markets
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Q1) In a joint venture, a firm benefits from a local partner's knowledge of the host country's competitive conditions, culture, language, political systems, and business systems.
A)True
B)False
Q2) Which of the following is an example of a first-mover advantage?
A)The ability to create switching costs that tie customers into one's products or services
B)The avoidance of pioneering costs that a later entrant into the foreign market has to bear
C)The increased probability of surviving in a foreign market
D)The opportunity to observe and learn from the mistakes of other entrants
E)The ability to let later entrants ride ahead on the experience curve
Q3) If an international business can offer a product that has been widely available in that market, the value of that product to consumers is likely to be much greater than if the international business offers a product that has not been widely available in that market.
A)True
B)False
Q4) How should a firm choose between a greenfield venture and an acquisition?
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Chapter 14: Exporting, Importing, and Countertrade
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Q1) Describe the Foreign Credit Insurance Association (FCIA). What types of risks does it cover?
Q2) Only large companies have benefited significantly from the moneymaking opportunities of exporting.
A)True
B)False
Q3) Lack of trust in international trade is exacerbated by the distance between the two parties in space, language, and culture.
A)True
B)False
Q4) Financing aid that will facilitate exports, imports, and the exchange of commodities between the United States and other countries is provided by the:
A)sogo shosha.
B)World Bank.
C)Overseas Commercial Service.
D)Ex-Im Bank.
E)Export Credit Insurance Association.
Q5) What is countertrade? When can it be used?
Q6) Briefly describe the different types of countertrade arrangements.
Page 16
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Chapter 15: Global Production and Supply Chain Management
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Q1) What do firms now typically use via the Internet to coordinate the flow of materials into manufacturing, through manufacturing, and out to customers?
A)Flexible manufacturing technology
B)Lean production
C)Computer-aided manufacturing
D)Electronic data interchange
E)Just-in-time inventory systems
Q2) Which of the following statements is true of flexible manufacturing technologies?
A)They promote the idea of manufacturing in each major market.
B)They fail to produce multiple models from the same line.
C)They are used to reconcile the goals of large volumes and standardized output.
D)They decrease the utilization of individual machines.
E)They allow firms to customize products to national differences at a single facility.
Q3) Proprietary software solutions to implement electronic data interchange systems now dominate the market for global supply chain management software.
A)True
B)False
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Chapter 16: Global Marketing and Rd
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Q1) Which of the following is a drawback of longer distribution channels?
A)Higher selling costs in a fragmented retail sector
B)The inability to enter exclusive distribution channels
C)Lower selling costs in a concentrated retail sector
D)Higher prices charged to consumers
E)Greater aggregate markups due to a lack of intermediaries
Q2) Describe how economic development influences product attributes.
Q3) 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
Q4) In terms of channel length, the more fragmented the retail system, the less expensive it is for a firm to make contact with each individual retailer.
A)True
B)False
Q5) Briefly describe predatory pricing and multipoint pricing strategy.
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Chapter 17: Global Human Resource Management
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Q1) Which of the following staffing policies is pursued by a firm where considerable resentment is caused among foreign nationals who are members of the international cadre and work with U.S. nationals, if pay is not equalized?
A)Polycentric
B)Geocentric
C)Ethnocentric
D)Regiocentric
E)Localized
Q2) Describe the disadvantages of a polycentric staffing policy.
Q3) According to Mendenhall and Oddou's dimensions that predict success in a foreign posting, which of the following is a result of the attribute of others-orientation?
A)The expatriate has high self-esteem.
B)The expatriate empathizes with the host-country nationals.
C)The expatriate speaks to the host-country nationals in the local language.
D)The expatriate adjusts to the inhospitable climate of the host country.
E)The expatriate is comfortable working in a male-dominated environment.
Q4) How has organized labor responded to the increased bargaining power of multinational corporations?
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