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Question;Tapping into Global Markets;GENERAL CONCEPT QUESTIONS;Multiple Choice;1. Red Bull has gained ________ of the worldwide;energy drink market by skillfully connecting with global youth.;a. 70 percent;b. 80 percent;c. 60 percent;d. 50 percent;e. 90 percent;2. Red;Bull built buzz about the product through its ________.;a. ?buzz marketing program?;b. ?in program?;c. ?marketing program?;d. ?seeding program?;e. ?advertising campaign?;3. A;global industry is defined as ________.;a. an industry in which the strategic positions of competitors are fundamentally affected by their;overall global positions;b. an industry that operates in more;than one country and captures R&D, marketing, and other financial;advantages in its costs and reputation.;c. an industry that operates in more;than one country and has a strategic position in many countries;d. a firm that operates in more;than one country and has a sales and marketing staff in those countries;e. an industry that has strategic positions in many countries but is;not affected by competition;4. A global firm is one that ________.;a. where the strategic positions of competitors;are fundamentally affected by their overall global positions;b. operates in more than;one country and captures R&D, marketing, and other financial advantages in;its costs and reputation;c. operates in more;than one country and has a sales and marketing staff in those countries;d. operates in more than;one country and has a sales and marketing staff in those countries developing;e. has;strategic positions in many countries but is not affected by competition researching;5. International;trade in 2003 accounted for over ________ of U.S. GDP up from 11 percent in;1970.;a. one-third;b. one-eighth;c. one-half;d.one-quarter;e. 18 percent;6.;Global firms plan, operate, and ________ their activities on a worldwide basis.;a. produce;b. coordinate;c. distribute;d. price;e. service;7. The;major decisions in international marketing include which of the following steps?;a. Deciding;whether to go abroad.;b. Deciding;which markets to enter.;c. Deciding how;to enter the market.;d. Deciding on the;marketing program.;e. All of the;above.;8. The internationalization process has four;stages. These stages are ________.;a. no regular export activities;b. export via;independent representatives (agents);c. establishment;of one or more sales subsidiaries;d. establishment;of production facilities abroad;e. all are part;of the internationalization process;9. Most firms work with an ________ and enter a nearby or similar;country.;a. independent;agent;b. contractual;export department;c. import/export department;d. franchisee;e. management;contract;10. A ?waterfall? approach to;international marketing is defined as;a. countries;that are gradually entered sequentially;b. countries in;which the demand for the product is greatest is entered first;c. countries in;which the demand for the product is greatest is entered last;d. countries;in which the supply of raw material is greatest is entered first;e. countries;are entered based upon ease of entry;11.A ?sprinkler? approach to international;marketing is defined as ________.;a. countries that are entered when timing is right;b. countries that are gradually entered sequentially;c. countries in which the supply of raw material is greatest is;entered first;d. countries in which the demand for the product is greatest is;entered first;e. many countries are entered simultaneously within a limited period;of time;12.The;developed nations and the prosperous parts of developing nations account for;less than ________ of the world?s;population.;a. 10 percent;b. 15 percent;c. 20 percent;d. 25 percent;e. 30 percent;13. Marketers must change their;conventional marketing to sell their products to developing countries. One of;the changes that marketers can make is to ________.;a. reduce the price of the product but increase the packaging;size;b. reduce the size but keep the pricing the same;c. reduce the price of the product;reduce;the size and price of the packagingincrease;the price and the packaging size because these countries have never seen;the product before;14. Factors that influence the;?attractiveness? of a country to enter include which of the following?;a. product, geography, income and population, political climate, and;other factors;b. product, geography, income, climate, and source of income;c. population, incomes, competition;and political climate;d. incomes, profit potentials, competition;and climate;e. incomes, families, competition;and cultural differences;15.Regional;economic integration is defined as ________.;a. agreements between individual firms for the sake of commerce;b. trading agreements between individual countries;c. trading agreements between individual firms;d. trading agreements between countries and firms;e. trading agreements between blocs of countries;16. The;European Union founded in 1957 added ________ in May 2004 bringing its total;membership to 25 countries.;a. 10 countries;b. 5 countries;c. 20 countries;d. 6 countries;e. 4 countries;17.NAFTA;established a free trade zone between what three countries?;a. Canada, Mexico, and South America;b. Canada, Mexico, and Peru;c. Mexico;South America, and the United;States;d. Canada;Mexico, and the United States;e. Canada;Mexico, and Japan;18.MERCOSUL is a;free trade zone linking which of the following;South American countries?;a. Mexico, Japan, Brazil, and Paraguay;b. Mexico, Brazil, and Paraguay;c. Brazil, Argentina, and Paraguay;d. Canada, Brazil;and Paraguay;e. Brazil, Argentina;Paraguay, and Uruguay;19. The;five modes of entry into foreign;markets generally flow by increasing commitment, risk, control, and profit;potential as follows ________.;a. indirect;exporting, direct exporting, licensing, joint ventures, and direct investment;b. direct investment, joint ventures, licensing;direct exporting, and indirect exporting.;c. direct;investment, joint ventures, and licensing;d. direct;investment, joint ventures, licensing, and indirect exporting;e. none of the;above;20.;In choosing which countries to invest in, companies;sometimes choose psychic proximity;to their own country. Psychic proximity can best be defined as ________.;a. countries close to the ?host? country in;which the company feels comfortable;with the language, laws, and culture;b. countries;that ?mimic? the host country in terms of language and culture;c. countries;that the host country?s management team have visited;d. countries close to the ?host? country in;which the company feels that they;can infiltrate quickly and profitable;e. countries close to the ?host? country in;which the company can easily;transport their products;21.The;normal way to get involved in an international market is through;exporting. Occasional exporting is;defined as ________.;a. when the company;carries on exporting activities on the behalf of others;b. when the company makes a commitment to expand into particular;markets;c. when the company works;through independent agents;d. when the company hires domestic-based agents to negotiate;foreign purchases;e. a passive level of involvement in which the;company exports its products from;time to time;22. Active exporting takes place when the company ________ to expand into a particular market.;a. forms a ?skunk? group;b. forms an export department;c. hires an agent;d. makes an effort;e. makes a commitment;23. Domestic-based export merchants;a. buy the manufacturer?s products and then sell;them abroad;b. buy the manufacturer?s products then sell them in the host country;c. buy the manufacturer?s products then fine agents and customers in;foreign countries;d. seek and negotiate foreign purchases;e. carry on exporting activities on behalf of several producers;24. Domestic based export agents;perform a valuable service for the companies;seeking to enter foreign markets. The primary function of these agents is to;a. carry on;exporting activities on behalf of several producers;b. buy the;manufacturer?s products and then sell them abroad;c. buy the;manufacturer?s products then sell them in the host country;d. seek and negotiate foreign purchases and are paid a;commission on those sales;e. export products to foreign countries;25.Company?s prefer to enter a country that ranks high on market attractiveness, low in market risks and ________.;a. in which it;would possesses a competitive;advantage;b. turn a quick;profit;c. able to;dominate its foreign competitors;through superior product design and performance;d.gain a;dominate market share within one year of exporting;e. increase its;foreign market share by 50 percent in one year;26. Indirect export has;two advantages for the firm. First in;involves less investment for the firm and secondly it ________.;a. involves;less paperwork;b. involves less intrusion by the government;c. involves less risk;d. involves less people to manage the process;e. involves less products and product lines;27.A company;can carry on direct exporting in several ways. These include domestic- based;export department or division, overseas sales branch or subsidiary, traveling;export sales representatives, and ________.;a. foreign-based distributors or agents;b. marketing departments based in the foreign country;c. export merchants in foreign countries;d. export management companies;e. none of the above;28.According to the text, Shaper Image receives more than ________ of its online business form;overseas customers.;a. 15 percent;b. 30 percent;c. 25 percent;d.40 percent;e. 10 percent;29. ?Going abroad? using;the Internet has its challenges. One of the challenges that a global marketer;may run up against when using the Web are ________.;a. cultural restrictions;b. language barriers;c. pricing procedures;d. monetary exchanges;e. logistical limitations;30.Licensing is a simple;way to become involved in international marketing. In licensing, the licensor;issues a license to a foreign company;to use a process, trademark, patent, or trade secret for a(n) ________.;a. limited;period of time;b. fee or;royalty;c. exchange of;information or propriety information;d. exchange for;access to the market place;e. exchange for;?their? process, trademark, patent, or secret;31.Companies such as Marriott and Hyatt sell a variation;of the licensing agreement called ________ to the owners of foreign hotels to;manage these businesses for them in foreign countries.;a. contract;manufacturing;b. management;contracts;c. franchising;d. hotel;management licensing;e. none of the;above;32. In ________, the firm hires local;manufacturers to produce the product. This gives the company;less control over the manufacturing process and loss of profits of the;manufacturing efficiencies.;a. contract manufacturing;b. management contracts;c. licensing;d. franchising;e. none of the above;33.A company;can enter a foreign market through ________, which is a complete form of licensing in which the company offers a complete;brand concept and operating system designed to ensure that the;operates according to the requirements of the licensor.;a. contract manufactures/licensor;b. contract management/firm;c. management contracts/firm;d. joint venture/firm;e. franchising/franchisor;34.The;definition of a joint venture company;is one ________.;a. in which foreign inventors join with local investors where they;share ownerships and control;b. in which two people or more;own the firm jointly;c. where foreign investors join with others to own the firm;d. where ownership by local and distant investors in share ownership;of a franchise;e. where ownership is by investors of foreign firms;35.A;joint venture may be necessary or desirable for economic or political;reasons. Additionally, a foreign firm;might lack the ________, or managerial resources to undertake the venture;alone.;a. resource, competency;b. financial, physical;c. financial, willingness;d. political, financial;e. political, competency;36.In;an adapted marketing mix, the producers? ________ the marketing program to each;target market.;a. reduce the importance of each element of the marketing program;to adjust for cost differential between countries;b. decide on which element of the marketing mix to;change/country/target market prior to entering the country;c. adapt the;communications message to the host country;d. change only;one element of the marketing mix/country;e. adjust;37. International companies must decide on how much to adapt their;marketing strategy to local conditions. At one extreme are companies that use a globally standardized marketing;mix worldwide. A standardized;marketing mix includes ________.;a. a concentric strategy which includes the product, integrated;marketing communications mix, and;distribution strategy;b. standardization of the product, communication, and distribution;channels promising lowest costs.;c. changes only to the product keeping distribution channels and;marketing communications consistent across countries;d. changing only the distribution channels to accommodate the host country;e. changes only to the product and communication message;38. The ultimate form of;foreign involvement is direct ownership of foreign-based assembly or;manufacturing facilities. One of the advantages of direct ownership can include;economies of scale, creating jobs in the host country, developing deeper;relations with local suppliers etcetera and the firm ________.;a. retains full control over its investment;b. reviews global outreach projections;c. redefines the business concept;d. reviews the successes from e-commerce;e. receives no disadvantages to direct investment;39. Hofstede identifies;four cultural dimensions that can differentiate countries. These are;individualism versus collectivism, high versus low power distances, masculine;versus feminine, and ________.;a. customer;relationship management versus power distances;b. strategic;management versus marketing management;c. weak versus;strong uncertainty avoidance;d. total;quality management versus JIT deliveries;e. marketing;management versus customer relationships;40.Straight extension of the product means ________.;a. introducing the product to the foreign market without any changes;to the product.;b. introducing the product to the foreign market without major;changes to the product;c. introducing the product to the foreign market with major changes;to the product;d. introducing the product to the foreign market with no major;marketing program;e. not introducing the product to the foreign market until changes;have been made;41.An;advantage of global marketing is that it can lower marketing costs, has;economies of scale in production and distribution, can produce consistency in;brand image, has the ability to leverage good ideas quickly and efficiently;and ________.;a. is easier to;adapt to foreign countries;b. allows for;the same message to be used worldwide;c. allows for;individual countries to add their specific needs to the message;d. is easier;for corporations to evaluate the marketing message;e. allows for;uniformity of marketing practices;42. Product adaptation;involves ________.;a. altering the product;to meet local conditions or preferences;b. altering the product to meet minimum acceptable standards;c. changing the product periodically;d. upgrading the product on a periodic basis;e. changing the product to meet competition;43. A firm can successful introduce four;versions of its products into a foreign country or a firm may select one of;these for inclusion. These versions include ________.;a. customer;version, regional version, and city version;b. customer;version, country version, and retailer version;c. regional;version, country version, city version, and retailer version;d. customer;version, regional version, city version, and retailer version;e. regional;version, country version, city version, and market versions;44.Product;invention consists of creating something new. Backward invention is;reintroducing earlier product forms;that are well adapted to a foreign country?s needs. Forward invention is ________.;a. creating a new product to meet a need in another country;b. creating a new product to meet the need in the host country;c. understanding the differences between host and foreign country;markets;d. increasing the control over the development of new products;e. inventing something that yet has a ?market?;45.Companies;can run the same marketing communications programs as used in the home market;or change them for each local market, a process called ________.;a. product communications;b. brand communications;c. dual adaptation;d.marketing communications;e. communication adaptation;46.Many;multinationals are plagued by the gray market problem. The gray market consists;of ________.;a. the marketing of products to older consumers;b. branded products diverted from normal distribution channels in the;country of product origin;c. branded products diverted from one country to another;d. products being repackaged from the intended country to a diverted;country;e. products not having full warranties by the manufacturer;47. If a company;adapts or changes both the product and the communications, the company engages in a process called ________.;a. straight extension;b. marketing communication;c. product adaptation;d.dual adaptation;e. full adaptation;48. The use of media requires international;adaptation because media availability varies from country to country. Norway, Belgium;and France;do not allow cigarettes and alcohol to be advertised on TB. Austria and Italy regulate TV advertising;a. between;the hours of 9 p.m. and 6 a.m.;b. to children;c. for those under the age of majority;d. regarding content and clarity;e. using women in advertising;49. A Gucci bag sells for $120 in Italy and $240 in the United States. This is an example of when a firm tries to sell its products;abroad. This phenomenon is called a ________.;a. strategic;marketing pricing problem;b. market;pricing problem;c. tactical;pricing problem;d. price;escalation problem;e. transfer;pricing problem;50. A firm that charges a price;to another unit in the company sets;the ________ price for goods that it ships;to its foreign subsidiaries.;a. original price;b. transfer price;c. margin price;d. break-even price;e. customer value price;51.The;cost escalation problem exists for multinationals and varies from country to;country, the question is: How to set prices in different countries? Companies have three choices. One is to set a uniform;price everywhere, two is to set a market-based price in each country, and three;is to ________.;a. set a final ?cost plus? price in each country;b. set a cost-based price in each country;c. let the market dictate price/country;d. vary the price/market/country on a daily;basis to reflect consumer demand;e. set the transfer price at marginal costs =;marginal revenue;52. In 2000 Stelco a Canadian;steelmaker, successfully fought dumping;changes against steelmakers in Brazil;and other countries. ?Dumping? is;defined or occurs when ________.;a. a company charges;either less than its costs or less than it charges in its home market;b. the company charges;less that its costs but more than it;charges in its home market;c. the company?s pricing;plans are below current domestic prices;d. a company must increase;its prices/product prior to importing;the product;e. a company unloads an;excess supply of the product at the best possible prices to the consumer;53.;The ?whole channel concept for international marketing? includes the following;steps________.;a. seller to seller?s international marketing headquarters to channels;between nations to channels within foreign nations to final buyers;b. seller to marketing;headquarters to channels within foreign markets to final buyers;c. sellers to channels between nations to final;buyers;d.sellers to channels within foreign nations to;final buyers;e. sellers to international markets to channels;within foreign nations to final buyers;54.In an increasingly connected, highly competitive global marketplace, government officials, and marketers are concerned with;how attitudes and beliefs about their country affect consumer and business;decision-making. ________is(are) the;mental associations and beliefs triggered by a country.;a. Corporate ownership of the firm;b. Materials used in manufacturing;c. Brand names and trademarks;d. Country-of-origin perceptions;e. Competitive;positions in the marketplace;55.A company;has several options when its products are competitively;priced but their place of origin turns consumers off. The company can consider ________.;a. re-packaging the product to disguise the country of origin;b. co-branding;c. reducing their country of origin mentions in their advertising;d. re-branding the product to disguise the country of origin;e. co-production with a foreign company;that has a better name.;56.;Most brands are adapted to some extent to reflect significant differences;in ________, ________, competitive;forces, and the legal and political environment.;a. consumer;behavior, brand development;b. business;mission, brand development;c. strategy and;consumer behavior;d.programs and;marketing communications;e. political;and social mores differences;57. Disadvantages to global marketing;include differences in consumer needs, wants, and usage patterns for products;difference in consumer response to marketing-mix elements, differences in brand;and product development and the competitive;environment, and ________.;a. differences in marketing institutions;b. differences in language and consumer;expectations;c. differences in product performance;d. differences in management?s reaction to the;marketplace;e. none of the above;58.;Marketers must also adapt sales promotion;techniques to different markets. Several European countries have laws;preventing or limiting sales promotion;tools such as discounts. In Germany;Lands? End could not advertise its ________.;a. woman?s bathing suits;b. sale price;c. close-out specials;d. end-of-the-season sale;e. money-back;guarantee;59. Companies can manage their international marketing;activities in three ways. These include, through export departments;international divisions, ________.;a. or a global organization;b. or from a fixed corporate headquarters;c. or through a strong marketing department in;the ?host? country;d.and through local marketing efforts;e. none of the above;60. Bartlett and Ghoshal;have identified three organizational strategies for international firms. These;are: (1) a global strategy treats the world;as a single market, (2) a multinational strategy treats the world as a portfolio of national opportunities, and;(3) ________.;a. a local strategy standardizes all of the;local elements;b. the marketing strategy identifies those elements assigned to a;country and uses those elements plus corporate?s contribution in the marketing;plan;c. a ?glocal? strategy standardizes certain core;elements and localizes other elements;d. assumes that there are no ?local? or multinational differences in;formulating the marketing mix;e. none of the above

 

Paper#47377 | Written in 18-Jul-2015

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