MKT 515 Midterm Part 1

A midterm exam assessing marketing strategies and consumer behavior.

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MKT 515 MIDTERM PART 1Question 1An evolving trend in international economic activity is the formation of:Answermultinational advertising agencies.multinational insurance agencies.multinational trading blocs.multinationalpurchasing agencies.multinational courts.Question 2A ________________ eliminates all tariffs and barriers to trade among members,adopts a common set of external tariffs on nonmembers, and removes all restrictionson the flow of capital and labor among member nations.Answerregional marketcommon marketmonetary marketpolitical marketcustoms marketQuestion 3Which of the following is an example of an international trading bloc?AnswerWorld Trade Organization.GATT.

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the World Court in the Hague.NAFTA.United NationsQuestion 4The principle goal of a political union is that it:Answercan buy goods from one another.can refuse to buy goods from nonmembers.can switch to a common currency and a central bank.gives up all sovereignty among individual members.no longer recognizes national boundarieQuestion 5The universal reason for forming trading blocs is to:Answerbypass tariff restrictions.bypass legal restrictions.bypass government controls.ensure the economic growth and benefit of the participating countries.make competition suffer.Question 6NAFTA is the free trade area among the United States, Mexico, and______________.AnswerCanada

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ArgentinaPanamaColumbiaBrazilQuestion 7The last step of the possible integration forms is the:Answercartel.common market.monetary union.political union.customs union.Question 8Five types of marketing that have led to the evolution of global marketing are domesticmarketing, export marketing, international marketing, _________________, and globalmarketing.Answermultinational marketingconsumer marketinggray marketingexpansion marketingimport marketingQuestion 9

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Global marketing refers to all of the marketing activities except:Answerbi-national efforts.standardization efforts.coordination across markets.global integration.none of the above.Question 10In global marketing, competitive pressure can also come from _____________ at home.AnswercompetitorsconglomeratesgroupslocalsregionalsQuestion 11In today’s global marketing, international trade and foreign production are increasingly managedon a __________________.Answervertical basishorizontal basisglobal basisregional basis

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local basisQuestion 12When management of a company comes to realize the benefit of economies of scalein product development, manufacturing, and marketing by consolidating some of itsactivities on a regional basis, the company is ready to move into the _____________stage of marketing.AnswermultinationalcustomizationglobalinternationalpolycentricQuestion 13Saturation of domestic markets in the industrialized parts of the world has forced manycompanies to look for marketing opportunities beyond their _______________.Answerlocal borders.national borders.regional borders.Complex borders.transnational bordersQuestion 14Many countries attempt to maintain a lower value for their currency to encourage________________.Answerblack marketing

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grey marketingoutsourcingexportsimportsQuestion 15The government entity which prepares the balance of payments statement in theUnited States is:Answerthe Federal Reserve.the Internal Revenue Service.the Customs Department.the Department of Commerce.the Federal Communications CommissionQuestion 16Currencies of many _____________________ are pegged (or fixed) to one of themajor currencies or to a basket of major currencies?Answerregional countriesdeveloped countriesemerging marketsdeveloping countriesnone of the aboveQuestion 17
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