Marketing Final Exam

cbe model strategy msc blooms synthesis 5 assume

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Unformatted text preview: l over the world. True global marketing standardization is not entirely evident, because marketing mix variations still exist. However, companies are moving toward variations of global marketing in which marketing mix modifications are kept to a minimum. While marketing mixes can be similar, variations in products, pricing, promotional copy, and distribution types may be necessary for each country. PTS: 1 REF: 58-59 OBJ: 05-2 TOP: AACSB Communication KEY: CB&E Model International Perspective | CB&E Model Strategy MSC: BLOOMS Synthesis 5. Assume that you are the president of a company that manufactures wooden bowls, cutting boards, and spoons. Your company is considering marketing its kitchen items globally. List the five important external environmental factors that should be examined for each country you are considering for this global venture. ANS: Culture Economic and technological development Political structure and actions Demographic makeup Natural resources PTS: 1 REF: 59 OBJ: 05-3 TOP: AACSB Communication KEY: CB&E Model International Perspective | CB&E Model Strategy MSC: BLOOMS Synthesis 6. Global legal structures are designed to either encourage or limit trade. Name and define five of these legal structures. ANS: There are six legal structures described in the chapter, and students can discuss any five: TARIFF. A tax levied on the goods entering a country. QUOTA. A limit on the amount of a specific product that can enter a country. BOYCOTT. The exclusion of all products from certain countries or companies. EXCHANGE CONTROL. A law compelling a company earning foreign exchange from its exports to sell it to a control agency, usually a central bank. MARKET GROUPING. Occurs when several countries agree to work together to form a common trade area that enhances trade opportunities. TRADE AGREEMENT. An agreement to stimulate international trade. PTS: 1 REF: 61 OBJ: 05-3 TOP: AACSB Communication KEY: CB&E Model International Perspective | CB&E Model Strategy MSC: BLOOMS Synthesis 7. An important factor in the global external environment that has become more evident in the past decade is the shortage of natural resources. Choose two different natural resources and describe how shortages of each of these resources affect global trade. ANS: Petroleum shortages have caused the transfer of wealth from Japan, the United States, and western Europe to Norway, Saudi Arabia, and the United Arab Emirates. Other countries such as Indonesia, Mexico, and Venezuela were able to borrow heavily against oil reserves in order to develop more rapidly. Warm climate and lack of water will mean that many of Africa’s countries will remain importers of foodstuffs because of low agricultural production. The United States, on the other hand, relies on Africa for precious metals. PTS: 1 REF: 65-66 Communication KEY: CB&E Model Strategy OBJ: 05-3 TOP: AACSB MSC: BLOOMS Synthesis 8. Assume that you are a global marketing consultant for a U.S....
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This document was uploaded on 09/29/2013.

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