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MKT 515 Midterm Part 1

A midterm exam assessing marketing strategies and consumer behavior.

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    MKT 515 MIDTERM PART 1 Question 1 An evolving trend in international economic activity is the formation of: Answer multinational advertising agencies. multinational insurance agencies. multinational trading blocs. multinational purchasing agencies. multinational courts. Question 2 A ________________ eliminates all tariffs and barriers to trade among members, adopts a common set of external tariffs on nonmembers, and removes all restrictions on the flow of capital and labor among member nations. Answer regional market common market monetary market political market customs market Question 3 Which of the following is an example of an international trading bloc? Answer World Trade Organization. GATT.

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    the World Court in the Hague. NAFTA. United Nations Question 4 The principle goal of a political union is that it: Answer can 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 boundarie Question 5 The universal reason for forming trading blocs is to: Answer bypass tariff restrictions. bypass legal restrictions. bypass government controls. en sure the economic growth and benefit of the participating countries. make competition suffer. Question 6 NAFTA is the free trade area among the United States, Mexico, and ______________. Answer Canada

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    Argentina Panama Columbia Brazil Question 7 The last step of the possible integration forms is the: Answer cartel. common market. monetary union. political union. customs union. Question 8 Five types of marketing that have led to the evolution of global marketing are domestic marketing, export marketing, international marketing, _________________, and global marketing. Answer multinational marketing consumer marketing gray marketing expansion marketing import marketing Question 9

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    Global marketing refers to all of the marketing activities except: Answer bi - national efforts. standardization efforts. coordination across markets. global integration. none of the above. Question 10 In global marketing, competitive pressure can also come from _____________ at home. Answer competitors conglomerates groups locals regionals Question 11 In today’s global marketing, international trade and foreign production are increasingly managed on a __________________. Answer vertical bas is horizontal basis global basis regional basis

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    local basis Question 12 When management of a company comes to realize the benefit of economies of scale in product development, manufacturing, and marketing by consolidating some of its activities on a regional basis, the company is ready to move into the _____________ stage of marketing. Answer multinational customization global international polycentric Question 13 Saturation of domestic markets in the industrialized parts of the world has forced many companies to look for marketing opportunitie s beyond their _______________. Answer local borders. national borders. regional borders. Complex borders. transnational borders Question 14 Many countries attempt to maintain a lower value for their currency to encourage ________________. Answer black marketing

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    grey marketing outsourcing exports imports Question 15 The government entity which prepares the balance of payments statement in the United States is: Answer the Federal Reserve. the Internal Revenue Service. the Customs Department. the Department of Commerce. the Federal Communications Commission Question 16 Currencies of many _____________________ are pegged (or fixed) to one of the major currencies or to a basket of major currencies? Answer regional countries developed countries emergi ng markets developing countries none of the above Question 17

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