4.0 Marketing in A Global Economy

Which of the following is an example of product adaptation?

• Creating an entirely new product for a specific country
•  Keeping the brand name but changing the product to meet the needs of the country
• Changing the message or visuals in the advertising of the product
• Use the same products and promotion for every country

Congress has the power to grant copyrights and patents to inventors.  Why does this serve as an incentive in a free enterprise system?

•  It offers inventors the guarantee that the government will cover their losses.
• It offers other producers the opportunity to copy the invention.
• It offers inventors the possibility of making profits in the market
• It offers other producers government grants to compete in the market.

Which of the following is true if two countries have free trade between them?

•  The larger of the two countries suffers because they give up too much
•  Both countries benefit and the standard of living is increased for both
• The country with the comparative advantage does not produce the goods
• It is unknown because this has never happened in the history of economics

“War toys cannot be advertised in Greece” is an example of what which global environmental factor?

•  Cultural factor
•  Technology factor
•  Political factor
• Socio-economic factor

Which of the following is NOT a global marketing strategy?

• Product adaptation
• Customization of products 
•  Promotion adaptation 
• Surveying Americans to see what foreign products they buy

What is the main difference between multinational and domestic businesses?

•  Multinationals receive funds from foreign investments for facilities abroad
• The number of employees the company has
• The size of the company
• Multinationals don’t have to follow foreign rules & regulations

What is the main difference between a multinational and a mini-national business?

• The number of countries they operate in
•  The size of the company
•  There is no difference
• Mini-nationals have a bigger risk doing business in other countries

Which form of international trade involves letting another company use their trade mark?

• Licensing
• Importing
•  Joint Ventures
• Contract Manufacturing

Which economic factor would include labor wage policies?

•  Infrastructure
• Taxes
• Labor Force
• Employee Benefits 

Which form of international trade involves partnering companies from different countries?

• Joint Ventures
• Foreign Direct Investments
• Exporting
• Importing