International Marketing Quiz

Define globalization

• The ever increasing connection between people and places throughout the world

• The act of promoting products within a single country

• The strategy of focusing on local markets only

• The concept of selling products online

Define international marketing

• The concept of selling products online

• The process of businesses expanding globally to reach new markets

• The act of promoting products within a single country

• The strategy of focusing on local markets only

What is the method of entry into international markets that involves letting another firm make your products with limited quantities?

• Exporting

• Joint Ventures

• International Franchising

• Licensing

What is the purpose of Direct Investment in Subsidiaries in international markets?

• To reduce product variety

• To save time and transport costs

• To avoid merging business cultures

• To increase competition

What is the term for modifying the marketing mix to meet the needs of different people?

• Local Customization

• Regional Adaptation

• Pan-Global Marketing

• Global Localization

What are some limitations of Global Localization?

• Less local opposition to multinational business activity

• Extent for economies of scale are shortened

• Products more likely to meet local requirements

• Lead to an increase in sales and profits

What elements should be considered in international marketing related to perceptions, values, and ideologies?

• Tastes, attitudes, lifestyles, religious beliefs

• Business, social, and political cultures

• All of the above

• None of the above

What issues could some cultures have with the promotion, product, and price of the clothing items mentioned?

• Price sensitivity

• Cultural appropriateness

• Place of origin

• All of the above

What are some key aspects of Globalization that impact business strategy?

• Local market dominance

• Restricted movement of workers

• Limited capital for investment

• Decreased barrier to international trade

What are the implications of globalization in international marketing?

• Limited market reach

• Increased barriers to entry

• More opportunities for growth

• Decreased competition