BUAD 332 Final Exam with Accurate
Solutions
The world is shrinking rapidly with the advent of faster (BLANK), (BLANK), and
(BLANK). - ANS-communications
transportation
financial flows
International trade is (BLANK) and makes up (BLANK) of the U.S. GDP. - ANS-booming
25%
Global competition is (BLANK). - ANS-intensifying
Higher (BLANK) come with globalization. - ANS-risks
Major International Marketing Decisions - ANS-1) looking at the global marketing
environment
2) deciding whether to go international
3) deciding which markets to enter
4) deciding how to enter the market
5) deciding on the global marketing program
6) deciding on the global marketing organization
The International Trade System - ANS-restrictions - tariffs, quotas, embargos, exchange
controls, and non-tariff trade barriers
The World Trade Organization (WTO) and GATT - ANS-helps trade - reduces tariffs and
other international trade barriers
- GATT replaces by WTO in 1995
- China joined WTO in 2001
Free Trade Agreements - ANS-groups of nations organized to work toward common
goals in the regulation of international trade
Consumerism - ANS-an organized movement of citizens and government agencies to
improve the rights and power of buyers in relation to sellers
- utilized a combination of legislation and the courts to protect consumer rights
, Buyer's Rights - ANS-- the right not to buy a product that is offered for sale
- the right to expect the product to be safe
- the right to expect the product to perform as claimed
- the right to be informed about important aspects of the product
- the right to be protected against questionable products and marketing practices
- the right to influence products and marketing practices in ways that will improve
"quality of life"
Environmentalism - ANS-an organized movement of concerned citizens and
government agencies to protect and improve people's living environment
- again, utilizing both legislation and the courts to influence corporate behavior
Enlightened Marketing - ANS-a marketing philosophy holding that a company's
marketing should support the best long-run performance of the marketing system
Consumer-Oriented Marketing - ANS-the philosophy of enlightened marketing that
holds that the company should view and organize its marketing activities from the
consumer's point of view
Innovative Marketing - ANS-a principle of enlightened marketing that requires that a
company seek real product and marketing improvements
Value Marketing - ANS-a principle of enlightened marketing that holds that a company
should put most of its resources into value-building marketing investments
Sense-of-Mission Marketing - ANS-a principle of enlightened marketing that holds that a
company should define its mission in broad social terms rather than narrow product
terms
GATT - ANS-general agreement on tariff and trade
SAFTA - ANS-South Asia Free Trade agreement
(Afghanistan, india, pakistan, Bangladesh)
North Korea - ANS-Subsistence Economy Example
Saudia Arabia - ANS-Raw Material Exporting Economy Example
Chili - ANS-Industrializing Economies Example
BRIC Countries - ANS-Industrial Economies Example
Indirect Exporting - ANS-Market Entry Strategy: Working through independent
international marketing intermediaries
Solutions
The world is shrinking rapidly with the advent of faster (BLANK), (BLANK), and
(BLANK). - ANS-communications
transportation
financial flows
International trade is (BLANK) and makes up (BLANK) of the U.S. GDP. - ANS-booming
25%
Global competition is (BLANK). - ANS-intensifying
Higher (BLANK) come with globalization. - ANS-risks
Major International Marketing Decisions - ANS-1) looking at the global marketing
environment
2) deciding whether to go international
3) deciding which markets to enter
4) deciding how to enter the market
5) deciding on the global marketing program
6) deciding on the global marketing organization
The International Trade System - ANS-restrictions - tariffs, quotas, embargos, exchange
controls, and non-tariff trade barriers
The World Trade Organization (WTO) and GATT - ANS-helps trade - reduces tariffs and
other international trade barriers
- GATT replaces by WTO in 1995
- China joined WTO in 2001
Free Trade Agreements - ANS-groups of nations organized to work toward common
goals in the regulation of international trade
Consumerism - ANS-an organized movement of citizens and government agencies to
improve the rights and power of buyers in relation to sellers
- utilized a combination of legislation and the courts to protect consumer rights
, Buyer's Rights - ANS-- the right not to buy a product that is offered for sale
- the right to expect the product to be safe
- the right to expect the product to perform as claimed
- the right to be informed about important aspects of the product
- the right to be protected against questionable products and marketing practices
- the right to influence products and marketing practices in ways that will improve
"quality of life"
Environmentalism - ANS-an organized movement of concerned citizens and
government agencies to protect and improve people's living environment
- again, utilizing both legislation and the courts to influence corporate behavior
Enlightened Marketing - ANS-a marketing philosophy holding that a company's
marketing should support the best long-run performance of the marketing system
Consumer-Oriented Marketing - ANS-the philosophy of enlightened marketing that
holds that the company should view and organize its marketing activities from the
consumer's point of view
Innovative Marketing - ANS-a principle of enlightened marketing that requires that a
company seek real product and marketing improvements
Value Marketing - ANS-a principle of enlightened marketing that holds that a company
should put most of its resources into value-building marketing investments
Sense-of-Mission Marketing - ANS-a principle of enlightened marketing that holds that a
company should define its mission in broad social terms rather than narrow product
terms
GATT - ANS-general agreement on tariff and trade
SAFTA - ANS-South Asia Free Trade agreement
(Afghanistan, india, pakistan, Bangladesh)
North Korea - ANS-Subsistence Economy Example
Saudia Arabia - ANS-Raw Material Exporting Economy Example
Chili - ANS-Industrializing Economies Example
BRIC Countries - ANS-Industrial Economies Example
Indirect Exporting - ANS-Market Entry Strategy: Working through independent
international marketing intermediaries
