Chapter 7 Marketing

Topics: International trade, Tariff, General Agreement on Tariffs and Trade Pages: 2 (275 words) Published: November 4, 2012
Chapter 7 Assurance

1. What are the benefits to firms that decide to engage in global marketing?

Company growth or expansion, also introducing new products internationally can expand a company's customer sales and revenue. They can also find products that are hard to find when they go globally.

2. Why is a nation’s infrastructure an important factor for global marketers to consider?

It’s important because an Inadequate Infrastructure might constrain marketers plan to manufacture, promote, and distribute goods and services in a certain country

3. What are the two different classifications of tariffs? What is each designed to do?

Revenues Tariff and Protective tariff, Revenue tariffs are designed to raise funds for the importing government. While protective tariffs are made to raise the retail price of an imported product to match or exceed that of similar domestic product.

4. How does an import quota restrict trade?

It limits the number of units of product in certain categories that can cross a country’s border for resale.

5. What are two major victories achieved by the Uruguay Round of GATT conferences?

First is to reduce farm subsidies to open vast new markets for U.S exports and second is to increase protection for patent copyrights and trademarks.

6. Why has the progress of the WTO been slow?

It has been slow because big differences between developed and developing nation creates major roadblock to its progress, its activities have focused on dispute resolution through its dispute settlement body than on reducing barriers.

7. What are the three alternatives for first-time exporters to reach foreign customers?

8. Why the US is an inviting target for foreign companies?
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