MKTG 3104 Exam 2 questions with correct answers 2024

MKTG 3104 Exam 2Dynamics of World Trade - correct answer Global Perspective: value of world trade has doubled; products and commodities- 80% of world trade; services- 20%; trade feedback effect; countertrade US Perspective: GDP; Balance of Trade Protectionism Hinders World Trade - correct answer hinders when countries raise prices and limit supply through tariff and quota policies protectionism- tariffs/quotas- increase prices/limit supply- decrease world trade Marketing in a borderless economic world - correct answer 1. 2. rise of economic integration 3. global companies for global customers - international, multinational, transnational firms 4. networked global marketplace 5. growing economic espionage 10 Global Market-Entry Strategies - correct answer Licensing, Contract-formal agreement, manufacturing agreement on goods, contract assembly outsourcing parts, franchising Cultural Appreciation - correct answer aspects of culture: values, customs, symbols, language Global Company: International Firm - correct answer Marketing Strategy: extension of home marketing strategy Global Company: Multinational Firm - correct answer Marketing Strategy: multi-domestic marketing strategy