BA 370 - Olson – Final Exam 2
Questions and All Correct Answers
2025-2026 Update.
The processes by which goods, services, capital, people, information, and ideas flow across
national borders are referred to as - Answer Globalization
What are the 4 Fundamental Changes that have occurred as a result of Global Marketing? -
Answer 1. Reduction or elimination of trade barriers by country governments
2. The decreasing of concerns of distance and time with regard to moving products and ideas
across countries
3. The standardization of laws across borders
4. Globally integrated production processes
What are the 4 major economic factors a firm must look at when analyzing a countries market?
- Answer 1. Trade Deficit or Surplus- import more than export or export more than import
2. Gross Domestic Product (GDP)
3. Gross National Income (GNI)
4. Purchasing Power Parity (PPP)
Because the United States imports more goods than it exports, it operates under a - Answer
Trade Deficit
The most widely used metric used to gauge the size and potential of an economy is ______,
which is defined as the market value of goods and services produced by a country in a year. -
Answer Gross Domestic Product (GDP)
Firms prefer to manufacture in countries that have a ______ because it signals a greater
opportunity to export products to more markets. - Answer Trade Surplus
_______ includes both the market values of goods and services produced by a country in a
particular year plus the net income earned from investments abroad. - Answer Gross
National Income (GNI)
,In terms of market size and population growth rate, what is a trend that is occurring in the
world market that impacts the marketing of goods and services? - Answer Growth has been
relatively equal for both developed and less developed nations
Anita is conducting a country market assessment and is focusing on four key elements:
distribution channels, transportation systems, communication systems, and commerce. In doing
so, Anita is evaluation which component of the market assessment? - Answer Infrastructure
In most cases, _______ are intended to make imported goods more expensive and thus less
competitive with domestic products, which in turn protects domestic industries from foreign
competition. - Answer Tariffs
The United States wants to limit the amount of a product that can be imported into the country
for a period of time by setting a maximum import quantity. To do so, the United States should
institute a - Answer Quota
The measure of how much one currency is worth in relation to another is referred to as the -
Answer Exchange Rate
What are Hofstede's 6 cultural dimensions? - Answer 1. Power Distance
2. Uncertainty Avoidance
3. Individualism
4. Masculinity
5. Time Orientation
6. Indulgence
Which of Hofstede's cultural dimensions relates to the willingness to accept social inequality as
natural? - Answer Power Distance
What are the 4 BRIC countries? - Answer 1. Brazil
2. Russia
3. India
4. China
, 2. Franchising
3. Strategic Alliance
4. Joint Venture
5. Direct Investment
If a small business wants to take the least risky strategy to enter the first foreign market, it
would choose which global entry strategy? - Answer Exporting
________ involves a binding contractual agreement between two businesses whereby the
marketing operations are tightly controlled and often standardized. - Answer Franchising
Although they do not directly invest in one another, independent firms entering into
collaborative partnerships to expand globally are called - Answer Strategic Alliances
A ______ forms when a firm entering a new market pools its resources with those of a local firm
to from a new company in which ownership, control, and profits are shared. - Answer Joint
Venture
BMW, the German company that manufactures automobiles, motorcycles and other products,
owns and operates a manufacturing plant in Spartanburg, South Carolina, in the United States.
This is an example of which Global Entry Strategy? - Answer Direct Investment
Which Global Entry Strategy has the highest degree of risk? - Answer Direct Investment
The Global Product Strategy a firm chooses depends on the needs of its - Answer Target
Market
Although China represents one of the largest markets for soup in the world, Campbell's Soup
Company had to invest considerable time and effort in making changes to its existing products
to sell them in China primarily due to - Answer Cultural Differences
In the process of _______, companies initially develop products for niche or underdeveloped
markets, and the expand them into their original or home markets. - Answer Reverse
Innovation
Questions and All Correct Answers
2025-2026 Update.
The processes by which goods, services, capital, people, information, and ideas flow across
national borders are referred to as - Answer Globalization
What are the 4 Fundamental Changes that have occurred as a result of Global Marketing? -
Answer 1. Reduction or elimination of trade barriers by country governments
2. The decreasing of concerns of distance and time with regard to moving products and ideas
across countries
3. The standardization of laws across borders
4. Globally integrated production processes
What are the 4 major economic factors a firm must look at when analyzing a countries market?
- Answer 1. Trade Deficit or Surplus- import more than export or export more than import
2. Gross Domestic Product (GDP)
3. Gross National Income (GNI)
4. Purchasing Power Parity (PPP)
Because the United States imports more goods than it exports, it operates under a - Answer
Trade Deficit
The most widely used metric used to gauge the size and potential of an economy is ______,
which is defined as the market value of goods and services produced by a country in a year. -
Answer Gross Domestic Product (GDP)
Firms prefer to manufacture in countries that have a ______ because it signals a greater
opportunity to export products to more markets. - Answer Trade Surplus
_______ includes both the market values of goods and services produced by a country in a
particular year plus the net income earned from investments abroad. - Answer Gross
National Income (GNI)
,In terms of market size and population growth rate, what is a trend that is occurring in the
world market that impacts the marketing of goods and services? - Answer Growth has been
relatively equal for both developed and less developed nations
Anita is conducting a country market assessment and is focusing on four key elements:
distribution channels, transportation systems, communication systems, and commerce. In doing
so, Anita is evaluation which component of the market assessment? - Answer Infrastructure
In most cases, _______ are intended to make imported goods more expensive and thus less
competitive with domestic products, which in turn protects domestic industries from foreign
competition. - Answer Tariffs
The United States wants to limit the amount of a product that can be imported into the country
for a period of time by setting a maximum import quantity. To do so, the United States should
institute a - Answer Quota
The measure of how much one currency is worth in relation to another is referred to as the -
Answer Exchange Rate
What are Hofstede's 6 cultural dimensions? - Answer 1. Power Distance
2. Uncertainty Avoidance
3. Individualism
4. Masculinity
5. Time Orientation
6. Indulgence
Which of Hofstede's cultural dimensions relates to the willingness to accept social inequality as
natural? - Answer Power Distance
What are the 4 BRIC countries? - Answer 1. Brazil
2. Russia
3. India
4. China
, 2. Franchising
3. Strategic Alliance
4. Joint Venture
5. Direct Investment
If a small business wants to take the least risky strategy to enter the first foreign market, it
would choose which global entry strategy? - Answer Exporting
________ involves a binding contractual agreement between two businesses whereby the
marketing operations are tightly controlled and often standardized. - Answer Franchising
Although they do not directly invest in one another, independent firms entering into
collaborative partnerships to expand globally are called - Answer Strategic Alliances
A ______ forms when a firm entering a new market pools its resources with those of a local firm
to from a new company in which ownership, control, and profits are shared. - Answer Joint
Venture
BMW, the German company that manufactures automobiles, motorcycles and other products,
owns and operates a manufacturing plant in Spartanburg, South Carolina, in the United States.
This is an example of which Global Entry Strategy? - Answer Direct Investment
Which Global Entry Strategy has the highest degree of risk? - Answer Direct Investment
The Global Product Strategy a firm chooses depends on the needs of its - Answer Target
Market
Although China represents one of the largest markets for soup in the world, Campbell's Soup
Company had to invest considerable time and effort in making changes to its existing products
to sell them in China primarily due to - Answer Cultural Differences
In the process of _______, companies initially develop products for niche or underdeveloped
markets, and the expand them into their original or home markets. - Answer Reverse
Innovation
