Since imports take a larger share of the domestic market for many products, it has become increasingly important for U.S. companies to:

take collective measures to be sustainable in the domestic market.

seek government aid to restrict further imports.

allocate additional funds for publicity.

adopt an international marketing orientation.

invest heavily in import-oriented businesses.

If not for globalization, most European companies would have been unable to compete with larger U.S. and Japanese companies because of:

the political and legal differences among European nations.

their inability to operate global corporations.

the cultural differences prevailing amongst European nations, which make it difficult to achieve promotional program sustainability.

the lack of education about international markets, resulting in limited exposure.

their inability to achieve economies of scale due to the small size of most European nations.

Which of the following factors is responsible for driving U.S. companies to focus on international markets?

Favorable marketing environment within the country

Saturation in domestic markets for many products and services

Low competition from foreign companies

Rapid population growth

Low competition from domestic companies

When the monetary value of a nation's imports exceeds the monetary value of its exports, it is known as:

value of exports.

balance-of-payments surplus.

added value.

international trade.

balance-of-trade deficit.

Which of the following factors demands different creative and media strategies as well as changes in other elements of the advertising and promotional program for foreign markets?

Language variations from country to country

Increase in the overall world literacy rate

Unlimited media options in various countries

Women's empowerment throughout the world

Similar buying behaviors of consumers around the world

Which of the following is an example of a major macro-external environmental factor that a company must consider when analyzing the international marketing environment?

Product factors

Economic factors

Advertising factors

Pricing factors

Promotional factors

Which of the following statements concerning advertising by attorneys is true?

Typically, traditional law firms are in favor of using advertising, particularly on TV, because they believe that it might boost a profession's image.

Ads soliciting personal injury victims help in enhancing the public's perception of attorneys.

A sizable faction within the American Bar Association blames the legal profession's image problem on sleazy ads.

The U.S. Supreme Court does not permit lawyers to advertise if they earn more than $100,000 per year.

The American Bar Association recently removed all restrictions on the type of advertising attorneys can use.

A balance of trade deficit exists when:

the monetary value of imports exceeds that of exports.

supply of imports exceeds the demand for them.

economies of scale are not achievable.

the monetary value added by an exporting nation exceeds that added by an importing nation.

the monetary values of exports and imports are equal.