8/14/2019 Short Answer Requirement

http://slidepdf.com/reader/full/short-answer-requirement 1/2

1. Global marketing is when a company addresses its product or service to the world as awhole to sale the same thing in the same way globally. Multinational marketing is when acompany has a product or service that is produced to that individual country or region but issimilar to the original product.

2. The purpose of the world trade organization is to oversee the free trade and exchange of goods, products and services across countries and territories. It also provides a forum for negotiations and for settling arguments over trades.

3. Non-tariff barriers to trade are trade restriction on imports but that are not in a typicalform of a tax imposed on goods or products when they are transported across a boundary.

4. A common market is a type of group of governments that have an agreement to reducetariffs for trading within the group. Free trade association is a type of group of governmentsthat have an agreement to eliminate almost all tariffs for trading within the group.

5. Hofstede dimensions can be used to better understand a culture by measuring how powerful member of institutions and organizations expect and accept power, how muchmembers of a culture make themselves apart from their group memberships, the assessmentof male or female standards, how much members deal with anxiety by reducing uncertainty,and the importance associated to the future verses the past and present.

6. Some disadvantages of secondary data are that the source may not be providing validinformation, the information given may be outdated, and the information could beunorganized. Some advantages of secondary data are the survey taken could be very exact, itsaves an enormous amount of time, and it is nearly impossible to take surveys on past changeand developments.

7. Beyond language some issues with gathering primary data are the complexity of researchdesign, lack of secondary data, costs collecting data, coordination of groups involved withresearch, lost information communicating to different countries, and establishing theequivalence.

8. Positioning a brand is when a company tries to create an image or uniqueness in thethoughts of their target audience for their company, product, or brand.

9. The major arguments for standardizing the international marketing mix are creating acommon market process on a worldwide level, familiarize trends towards a service or knowledge based economy, and to streamline international marketing.

10. The major arguments for adapting the international marketing mix are placing all marketson an equal playing field, decrease capital spending on training employees, and be a moreefficient group of companies worldwide.

11. The value of the product life cycle to the marketer is that it is based on factualassumptions. This cycle shows conditions in which a product is sold over time and how it

8/14/2019 Short Answer Requirement

http://slidepdf.com/reader/full/short-answer-requirement 2/2

must be marketed in its specific stage or not.

12. Marketers want to get the new brands into the early adopter’s hands because they aretypically social leaders, popular, and more educated. It is the fastest way to deliver the

product in the market so the trend or desire is created.

13. Parallel importing occurs because it is legal. This happens when a manufacturer setsdifferent prices for the product in different markets and an individual purchases the productin one area at a cheaper price then sales it in another market with higher pricing.

14. A blocked channel of distribution is when a company is prevented from be involved inthe process of making a product available for use by a consumer or business user. To avoidthis, a firm can find a different channel to be involved with or try to find another company todo business with.

15. Beyond language, a firm may want to change its advertising entering another country

because different cultures have different acts, words, or phrases that could be offensive or insulting in one country and mean nothing at the headquarters location.

16. Implementing sales promotions at local level is better because if the company isworldwide or across an entire country, then the different locations have different needs of the

products or services given. If standardized the same individuals would always get promotions, same would not get promotions, and some would receive promotions sometimes.

17. A firm would want to engage in countertrade when a country lacks strong currency or when other types of market trade are unachievable.

18. Price escalation in exporting is when the level of costs of goods or products in aneconomy over a time frame increases. To alleviate this problem fixed exchange rates arecreated during the time of exportation.

19. Incoterms are a series of global sales teams that are used in global commercialtransactions. The teams reduce transaction costs and responsibilities between the seller and

buyer.

20. Transfer pricing is a major concern in international operations because the decision of thetransfer price will affect the allocation of the total profit among those parties involved withinthe operation transferring the product.