International Marketing Exam Materials
Course Introduction
International Marketing explores the strategies and practices businesses use to effectively market products and services in the global marketplace. This course examines the cultural, economic, legal, and political environments that impact international marketing decisions, and emphasizes the need for adaptability in marketing strategies across diverse regions. Key topics include market entry strategies, global branding, international product adaptation, distribution channels, pricing policies, and promotion tactics. Students will analyze case studies and real-world examples to understand how global market forces and consumer behavior influence marketing decisions, and will gain practical skills in developing international marketing plans in a rapidly changing and interconnected world.
Recommended Textbook
Global Business Today 9Th Edition by
Charles W. L. Hill
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Page 2
Chapter 1: Globalization
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Q1) Due to the changing economic geography, many of tomorrow's economic opportunities are most likely to be found in the:
A)rich industrialized nations of the world like Great Britain and Germany.
B)centrally planned economies of the communist world.
C)United States.
D)developing nations of the world such as China, India, and Brazil.
E)countries that are currently not members of the World Trade Organization.
Answer: D
Q2) The 1993 Uruguay Round:
A)increased trade and investment barriers.
B)excluded the trade of services from international trade.
C)transformed the World Trade Organization into the GATT.
D)provided enhanced protection for patents, trademarks, and copyrights.
E)promoted the worldwide rise of communism.
Answer: D
Q3) The growing income inequality is a result of the wages for skilled workers being discounted.
A)True
B)False
Answer: False
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Chapter 2: National Differences in Political, Economic, and Legal Systems
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Q1) In practical terms, which of the following translates into an advocacy for democratic ideals and free market economics, which in general creates the most favorable environment for international businesses to operate in?
A)Collectivism
B)Totalitarianism
C)Individualism
D)Communism
E)Socialism
Answer: C
Q2) In comparison to market economies, command economies lack:
A)government interference in allocation of resources.
B)dynamism and innovation.
C)concern for the interests of the nation.
D)commitment to communism.
E)any opposition to private ownership.
Answer: B
Q3) Intellectual property laws stimulate innovation and creative work.
A)True
B)False
Answer: True
Page 4
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Chapter 3: National Differences in Economic Development
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Q1) Although free markets and democracy can still be found around the world, the tide has been running in favor of command economies and totalitarian dictatorships.
A)True
B)False
Answer: False
Q2) In the context of global economy, which of the following has been widely accepted since the late 1980s?
A)Centrally planned command economy
B)Mixed economy
C)Nationalization of private property
D)Deregulation of economies
E)Authoritarian regime
Answer: D
Q3) The gross national income (GNI) per capita comes much closer to Amartya Sen's conception of how development should be measured than narrow economic measures such as Human Development Index (HDI).
A)True
B)False
Answer: False
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Page 5
Chapter 4: Differences in Culture
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Q1) Which of the following statements is true of Islam?
A)Islam has roots in Confucianism.
B)Islamic ethics support worldly gain and temporal power.
C)Islam forbids the consumption of pork and alcohol.
D)Islam makes a clear distinction between church and state.
E)Unlike Christianity and Judaism, Islam is not a monotheistic religion.
Q2) Which of the following statements is true of Confucianism?
A)Confucianism is a religion principally followed in India, Korea, and Japan.
B)Confucianism preaches about the supernatural, the concept of a supreme being, and an afterlife.
C)Confucian ethics raise the costs of doing business in China, Japan, South Korea, and Taiwan.
D)Conflict between management and labor tends to be high in the countries that follow Confucianism.
E)In Confucian thought, loyalty to one's superiors is regarded as a sacred duty.
Q3) According to Geert Hofstede, high power distance cultures were found in societies that tried to play down inequalities of power and wealth as much as possible.
A)True
B)False
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Page 6
Chapter 5: Ethics, Corporate Social Responsibility, and Sustainability
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Q1) To strengthen the moral courage of employees, companies should not retaliate against those employees who complain about unethical actions.
A)True
B)False
Q2) Three Torque Inc., a U.S.-based multinational company, allows its managers to make facilitating payments in host countries to expedite government formalities. However, in countries where such payments are considered as unethical, the company restricts its managers from indulging in such activities. This behavior of the company illustrates the straw man approach of:
A)the righteous moralist.
B)cultural relativism.
C)ethnocentrism.
D)just distribution.
E)cultural convergence.
Q3) "Facilitating payments" are payments to secure contracts that would not otherwise be secured.
A)True
B)False
Q4) What are grease payments?
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Chapter 6: International Trade Theory
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Q1) How does Porter's theory predict patterns in international trade? Do his predictions turn out to be accurate in a real-world scenario?
Q2) According to the product life-cycle theory, the locus of global production initially switches from developing countries to other advanced nations and then from those nations to the United States.
A)True
B)False
Q3) The major advantage of mercantilism was that it viewed trade as a zero-sum game.
A)True
B)False
Q4) Which of the following terms best represents a situation in which a government does not attempt to influence through quotas or duties what its citizens can buy from another country, or what they can produce and sell to another country?
A)Free trade
B)Positive-sum game
C)Socialism
D)Absolute advantage
E)Zero-sum game
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Chapter 7: Government Policy and International Trade
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Q1) What are the political arguments for government intervention into international trade? Give examples.
Q2) What constitutes the revised case for free trade?
Q3) The act that allows Americans to sue foreign firms that use property in Cuba confiscated from them after the 1959 revolution is known as the:
A)Frederick-Peterson Act.
B)D'Amato-Perkins Act.
C)Perkins-Dole Act.
D)Helms-Burton Act.
E)Godfrey-Milliken Act.
Q4) What conclusions can be derived from economic analysis of the effect of import tariffs?
Q5) Antidumping actions seem to be concentrated in certain sectors of the economy such as basic metal industries (e.g., aluminum and steel), chemicals, plastics, and machinery and electrical equipment.
A)True
B)False
Q6) How do trade barriers constrain a firm's ability to disperse its productive activities?
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Chapter 8: Foreign Direct Investment
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Q1) Mergers and acquisitions differ from greenfield investments in that:
A)greenfield investments are quicker to execute than mergers and acquisitions.
B)greenfield investments are undertaken to take advantage of valuable strategic assets, such as brand loyalty and trademarks or patents, of a foreign competitor.
C)the majority of FDI flows into developed nations are in the form of greenfield investments rather than mergers and acquisitions.
D)the majority of FDI flows into developing nations are in the form of cross-border mergers and acquisitions.
E)the percentage of mergers and acquisitions is lower than greenfield investments in developing nations.
Q2) 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.
Q3) Describe Dunning's arguments regarding the location-specific advantages.
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Chapter 9: Regional Economic Integration
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Q1) Which of the following is true of the euro since its establishment in 1999?
A)The value of the euro has been stable against the U.S. dollar.
B)The euro's value has steadily appreciated against the U.S. dollar.
C)The euro's value initially appreciated and then steadily depreciated against the U.S. dollar.
D)The euro has had a volatile trading history against the U.S. dollar.
E)The value of the euro has been constant when compared to the U.S. dollar.
Q2) A regional free trade agreement will benefit the world only if:
A)it raises the standard of living in one of the member countries.
B)the amount of trade it creates exceeds the amount it diverts.
C)the currencies of the nations involved appreciate.
D)the balance-of-trade situation remains stable in the region.
E)it creates trade surplus for one of the countries involved.
Q3) A major stumbling block in the creation of the Free Trade Area of the Americas is that the United States wants its southern neighbors to agree to higher manufacturing tariffs, which they are not eager to embrace.
A)True
B)False
Q4) Describe the drawbacks of the euro.
Q5) Briefly describe the benefits of the euro.
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Chapter 10: The Foreign Exchange Market
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Q1) To express the PPP theory in symbols, let P<sub>$</sub> be the U.S. dollar price of a basket of particular goods and P<sub>×</sub> be the price of the same basket of goods in Japanese yen. What does the purchasing power parity (PPP) theory predict to be the equivalent of the dollar/yen exchange rate, E<sub>$/×</sub>?
A)E<sub>$/×</sub> = (1 + P<sub>×</sub>)/P<sub>$</sub>
B)E<sub>$/×</sub> = (1 + P<sub>$</sub>)/P<sub>×</sub>
C)E<sub>$/×</sub> = P<sub>×</sub>/P<sub>$</sub>
D)E<sub>$/×</sub> = P<sub>$</sub>/P<sub>×</sub>
E)E<sub>$/×</sub> = (1 + P<sub>$</sub>)/(1 + P<sub>×</sub>)
Q2) How does an increase in money supply in an economy lead to inflation?
Q3) Which of the following is a reason for the failure of the purchasing power parity (PPP) theory to predict exchange rates accurately?
A)It assumes away transportation costs and trade barriers.
B)It does not take into account the law of one price.
C)It does not take into account the practice of arbitrage.
D)It assumes that the markets are not efficient.
E)It does not consider government influence on a nation's money supply.
Q4) Explain how investor psychology and bandwagon effects impact the movement in exchange rates.
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Chapter 11: The International Monetary System
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Q1) How does a country that introduces a currency board make its commitment to converting its domestic currency on demand into another currency at a fixed exchange rate credible?
A)By borrowing funds from the International Monetary Fund and the World Bank
B)By maintaining a trade surplus with foreign countries
C)By holding foreign currency reserves equal at the fixed exchange rate to at least 100 percent of the domestic currency issued
D)By importing more goods from foreign countries than it exports
E)By printing foreign currencies
Q2) In a fixed exchange rate system, the central bank of a country will intervene in the foreign exchange market to try to maintain the value of its currency if it depreciates too rapidly against an important reference currency.
A)True
B)False
Q3) Contracting out manufacturing may be more appropriate for high-value-added manufacturing.
A)True
B)False
Q4) Explain the concept of a currency board.
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Chapter 12: The Strategy of International Business
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Q1) In terms of attaining a competitive advantage, support activities can be as important as the primary activities of the firm.
A)True
B)False
Q2) Which of the following refers to the reductions in unit cost achieved by producing a large volume of a product?
A)Location economies
B)Learning effects
C)Standardization economies
D)Core economies
E)Economies of scale
Q3) Firms that operate internationally are able to realize location economies by dispersing individual value creation activities to locations where they are performed most efficiently and effectively.
A)True
B)False
Q4) What are strategic alliances?
Q5) Describe the global standardization strategy.
Q6) What are the advantages of strategic alliances?
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Chapter 13: Entering Foreign Markets
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Q1) An international firm that enters into a turnkey deal has a long-term interest in the foreign country.
A)True
B)False
Q2) The liability associated with foreign expansion is greater for foreign firms that:
A)choose to ride on an early entrant's investments.
B)use countertrade agreements.
C)enter a national market early.
D)ride down the experience curve behind their rivals.
E)avoid pioneering costs.
Q3) When should a firm configure its value chain to maximize value at each stage?
A)When government regulations relax
B)When cost pressures are intense
C)When rapid imitation is expected
D)When the number of consumers increases
E)When incumbent competitors exist
Q4) Describe the advantages of turnkey projects as a mode of entry into a foreign market.
Q5) Describe the advantages and disadvantages of acquisitions.
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Chapter 14: Exporting, Importing, and Countertrade
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Q1) Many medium-sized and small firms are not proactive in seeking export opportunities because:
A)they are familiar with the foreign market and do not find it challenging enough.
B)the export market is similar to the home market in terms of legal and business practices.
C)they are intimidated by the complexities and mechanics of exporting to foreign countries.
D)domestic regulations limit their ability to export profitably.
E)they can't recruit managers with the expertise needed to cultivate business in foreign countries.
Q2) In international trade, an exporter wants to be paid before a consignment is shipped. Correspondingly, the importer wants to pay only upon receipt of the consignment. These conflicting preferences of the parties are a manifestation of:
A)corporate greed.
B)acculturation.
C)lack of trust.
D)cultural insensitivity.
E)countertrading opportunities.
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16
Chapter 15: Global Production and Supply Chain Management
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Q1) Which of the following is a consequence of changes in exchange rates that result in appreciation of the local currency?
A)More foreign direct investment into the country
B)Decrease in the dollar cost of products exported from the country
C)Diminishing of a country's attractiveness as a manufacturing base
D)Transformation of the country into a low-cost location
E)Decrease in the amount of imports brought into the country
Q2) A major cost saving from just-in-time inventory systems comes from:
A)a shift in focus away from quality.
B)increasing productivity of workers.
C)speeding up inventory turnover.
D)creating a buffer stock of inventory.
E)writing off excess unsold inventory against earnings.
Q3) Which of the following is an implication of a mass production system?
A)It results in short production runs.
B)It fails to realize economies of scale.
C)It reduces the number of defects and eliminates waste.
D)It helps to accommodate consumer preferences for product diversity.
E)It creates massive inventories that have to be stored in large warehouses.
Q4) What are the ways in which improved quality control reduces costs?
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Chapter 16: Global Marketing and Rd
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Q1) When the retail sector is very concentrated:
A)it is more expensive for a firm to make contact with each individual retailer.
B)it makes sense for a firm to deal directly with retailers, cutting out wholesalers.
C)a relatively large sales force is required to deal with the retail sector.
D)the channels of distribution tend to be long.
E)the growth of wholesalers is promoted.
Q2) One benefit of a longer distribution channel is that it cuts selling costs when the degree of fragmentation of the retail sector is less.
A)True
B)False
Q3) Which of the following factors constrains a firm's ability to sell a standardized product to a global market using a standardized marketing strategy?
A)Modern transportation
B)Modern communications technologies
C)Rise of the global media phenomenon
D)Development of a global culture
E)Differences in product and technical standards
Q4) Briefly describe market segmentation.
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Page 18
Chapter 17: Global Human Resource Management
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Q1) Amanda, an American manager, is successfully adjusting in a country where the culture is extremely male-dominated. According to Mendenhall and Oddou, which of the following dimensions that predict success in foreign postings is involved in this situation?
A)Perceptual ability
B)Others-orientation
C)Cultural toughness
D)Self-orientation
E)Empathy
Q2) Which of the following is a characteristic feature of an ethnocentric staffing policy?
A)It requires host-country nationals to be recruited to manage subsidiaries.
B)It is used when a firm places a low value on its corporate culture.
C)It increases advancement opportunities for host-country nationals.
D)It seeks the best people for key jobs throughout the organization, regardless of nationality.
E)It places parent-country nationals in key management positions.
Q3) How has organized labor responded to the increased bargaining power of multinational corporations?
Q4) What is the purpose of cultural training before a foreign posting?
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Page 19