Explain the difference between foreign marketing, international marketing, and global marketing.
What will be an ideal response?
Foreign marketing involves developing local distribution and service representation in a foreign market in one of two ways. One method is to identify local intermediaries in appropriate international markets and create a formal relationship. The second approach is for the company to establish its own direct sales force in major markets, thereby expanding the company's direct market reach.
When a firm makes the commitment to manufacture products outside its domestic market, it is engaged in international marketing. International marketing aligns the company's assets and resources with global markets, but, in the vast majority of companies, management still takes a "domestic first" approach to the business.
A global marketing company realizes that all world markets (including the company's own domestic market) are, in reality, a single market with many different segments. This frequently happens when a company generates more than half its revenue in international markets.
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Concerning accounting for warranties, which of the following statements is false?
A) The GAAP approach of accruing warranty expense (and the related liability) in the year of the sale is not an acceptable method for federal income tax purposes. B) The modified cash basis is the most conceptually sound method for financial reporting. C) In accounting for service-type warranties, companies much report warranty expense in the period of sale. D) The modified cash basis recognizes warranty expense when cash is paid for the repairs to merchandise under warranty.
Perez Company paid a $300 cash dividend. Which of the following accurately reflects how this event affects the company's horizontal financial statements model? Assets=Liab.+EquityRev.?Exp.=Net Inc.Stmt ofCash FlowsA.NA=300+(300)NA?300=(300)NAB.(300)=NA+(300)NA?300=(300)(300) FAC.(300)=NA+(300)NA?NA=NA(300) FAD.(300)=NA+(300)NA?NA=NA(300) OA
A. Option A B. Option B C. Option C D. Option D
Which of the following are internal communication duties performed by public relations professionals?
A) coordinating relationships with media for news coverage B) reaching personnel through the intranet, newsletters, and meetings to convey company news C) coordinating relationships with outside specialty groups such as graphic services D) coordinating activities with regulatory agencies concerned about employee safety
Which of the following describes Phase 3 of the emergence of a third culture?
A. Initial contact may result in the person withdrawing from the other person (or culture). B. The parties evaluate the need for continued interaction. C. Norms for interaction have evolved to the point where they feel “natural” to both parties. D. Interdependence results in more nuanced development and maintenance of a third culture.