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Exam 12: The Strategy of International Business

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Question 51

Multiple Choice

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Firms that pursue a(n) ________ strategy take products first produced for their domestic market and sell them across various markets with only minimal local customization.

A) nationalization
B) transnational
C) global standardization
D) international
E) localization

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Question 52

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An international strategy is unique in that companies are selling a product that serves universal needs, but they do not

A) sell to foreign nations.
B) understand local needs.
C) have significant competition.
D) pursue R&D.
E) focus on technology products.

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Question 53

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A firm should use a(n) ________ strategy when it simultaneously faces both strong cost pressures and strong pressures for local responsiveness.

Firms that pursue an international strategy focus on increasing profitability by reaping the cost reductions that come from economies of scale, learning effects, and location economies.

The value of Omega's top selling fitness product to an average consumer is $150 and the average unit cost of producing that product is $65. In this scenario, $85 ($150−$65) represents

Denti-Way Systems, a manufacturer of dental appliances, invented and patented a new x-ray machine that radically reduced maintenance and operational issues. Responding to global demand, it decided to sell the machines manufactured at its plant in the United States to various markets across the globe. Since the product features provided by Denti-Way were not provided by any other competitor, Denti-Way did not feel any pressure for cost reductions. Which strategy is most likely being pursued by Denti-Way?

The liberalization of the world trade and investment environment in recent decades, by facilitating greater international competition, has generally

Discuss the biggest drawback to the international strategy and explain how Xerox faced this challenge.

Describe the different ways in which a firm benefits from global expansion.

One argument for the idea that customer demands for local customization are on the decline worldwide is that

Strong pressures for cost reductions are a good reason to use a global standardization strategy.

Learning effects are more evident in the sales profession than in manual labor jobs.

Nature Farm Granola is in a highly-competitive market and has decided to focus on sugar-free granola bars. These granola bars will cost more for the consumer, but the company knows there is high demand for this type of product and feels consumers will pay the price. In addition, none of their competitors have produced this product. This is an example of a ________ strategy

According to Michael Porter, superior profitability goes to a firm that

Products such as steel, bulk chemicals, and industrial electronics do not require much differentiation because the taste and preference for these products is similar all around the world. These products are examples of

According to researchers, firms facing strong cost pressures and pressures for local responsiveness should pursue a global standardization strategy.

Discuss how marketing and sales help a firm create value.

A localization strategy focuses on using mass production of product to meet general tastes and preferences.

Rite-Right Pen Corp., based in Florida, has a manufacturing facility in Thailand where local content rules regulate manufacturing processes. These rules show the effects of

Lindsey works at Lincoln Office Furniture Group. She fields calls from people who purchase their ready-to-build products and need assistance during the process. Which primary activity is Lindsey involved with?