Question 1

In an adapted marketing mix, the company ________.

Accepted Answer

A)  ensures that uniform practices are adopted across countries 
B)  focuses more on brand image than consumer preferences 
C)  ignores differences in the legal environment 
D)  ensures the lowest cost marketing program is adopted 
E)  tailors the marketing programs to each target market 
A)  ensures that uniform practices are adopted across countries 
B)  focuses more on brand image than consumer preferences 
C)  ignores differences in the legal environment 
D)  ensures the lowest cost marketing program is adopted 
E)  tailors the marketing programs to each target market

Question 2

Product adaptation alters the product to meet local conditions or preferences. Identify four levels of adaptation.

Accepted Answer

There are several levels of ad

Question 3

Regional economic integration is defined as the creation of trading agreements between ________.

Accepted Answer

A)  a firm and its suppliers and distributors 
B)  firms targeting the same market 
C)  individual firms in an industry 
D)  related industries 
E)  blocs of countries 
A)  a firm and its suppliers and distributors 
B)  firms targeting the same market 
C)  individual firms in an industry 
D)  related industries 
E)  blocs of countries

Question 4

Cooperative organizations carry on exporting activities on behalf of several producers and are partly under their administrative control.

Accepted Answer

A) True 
 B)False

Question 5

As a result of the ad campaigns depicting Brazil as a multicultural land of carnivals and beaches, any mention of the country makes people think of sun and sand. This is an example of ________.

Accepted Answer

A)  anchoring effect 
B)  target market impact 
C)  regiocentrism 
D)  country-of-origin effect 
E)  cognitive dissonance 
A)  anchoring effect 
B)  target market impact 
C)  regiocentrism 
D)  country-of-origin effect 
E)  cognitive dissonance

Question 6

The main disadvantage of direct investment is that the firm loses access to the market in case the government of that country insists locally purchased goods have domestic content.

Accepted Answer

A) True 
 B)False

Question 7

International companies must decide how much to adapt their marketing strategy to local conditions. Identify and explain the two strategies companies can use.

Accepted Answer

A company foraying into the internationa

Question 8

For the launch of "Trema," your company's new pocket organizer that can also be used as a cell phone, the CMO has decided that the product can be launched in international markets without any changes in its features or the marketing strategy. This introduction can described as a ________.

Accepted Answer

A)  dual adaptation 
B)  straight extension 
C)  product adaptation 
D)  forward invention 
E)  backward invention 
A)  dual adaptation 
B)  straight extension 
C)  product adaptation 
D)  forward invention 
E)  backward invention

Question 9

Define a joint venture and list some of the advantages and disadvantages.

Accepted Answer

In a joint venture, foreign investors an

Question 10

Domestic-based export merchants seek and negotiate foreign purchases for a commission.

Accepted Answer

A) True 
 B)False

Question 11

A Canadian software company decides to buy majority stakes in a Chinese firm producing software. The company even adds to its Chinese production capacity. Which of the following could be a potential disadvantage of this direct investment?

Accepted Answer

A)  The Canadian firm will find it difficult to achieve economies of scale. 
B)  This is the least financially rewarding mode of international expansion. 
C)  The Canadian firm will have very limited control on its Chinese investment. 
D)  The Canadian firm will be subject to the piracy problems in China. 
E)  The Canadian firm will be subject to a higher cost of production in China. 
A)  The Canadian firm will find it difficult to achieve economies of scale. 
B)  This is the least financially rewarding mode of international expansion. 
C)  The Canadian firm will have very limited control on its Chinese investment. 
D)  The Canadian firm will be subject to the piracy problems in China. 
E)  The Canadian firm will be subject to a higher cost of production in China.

Question 12

When innovation at Siemens enables the company to offer solutions that can make the generation of hydroelectricity more environment-friendly, the company will want to reap the benefits of being the first to introduce such a product across countries. In this case, which of the following approaches is likely to be the best approach to entering foreign markets?

Accepted Answer

A)  the rifle approach 
B)  the continuous approach 
C)  the born global approach 
D)  the sprinkler approach 
E)  the waterfall approach 
A)  the rifle approach 
B)  the continuous approach 
C)  the born global approach 
D)  the sprinkler approach 
E)  the waterfall approach

Question 13

A company that is planning to go global must decide on how many countries to enter and how fast to expand. A company's entry strategy typically follows one of two possible approaches. What are those approaches?

Accepted Answer

The approaches are waterfall approach an

Question 14

A risk averse attitude is associated with ________.

Accepted Answer

A)  high uncertainty avoidance 
B)  high femininity 
C)  high power distance 
D)  high individualism 
E)  high collectivism 
A)  high uncertainty avoidance 
B)  high femininity 
C)  high power distance 
D)  high individualism 
E)  high collectivism

Question 15

Which of the following can induce a firm to expand into the international arena?

Accepted Answer

A)  Consumer preferences in the domestic market vary widely. 
B)  Average income level of domestic consumers is high. 
C)  The firm operates in an industry that caters to the mass market. 
D)  The firm finds that the domestic market is almost saturated. 
E)  The firm is yet to achieve economies of scale even though the domestic market has potential. 
A)  Consumer preferences in the domestic market vary widely. 
B)  Average income level of domestic consumers is high. 
C)  The firm operates in an industry that caters to the mass market. 
D)  The firm finds that the domestic market is almost saturated. 
E)  The firm is yet to achieve economies of scale even though the domestic market has potential.

Question 16

Web-crawling technology searches for counterfeit storefronts and sales by detecting domain names similar to legitimate brands.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following causes a difference between marketing in the developed countries and marketing in the developing countries?

Accepted Answer

A)  The cost of production varies substantially between the developed and the developing world. 
B)  The disparity between the rich and the poor in the developing world is reducing. 
C)  There are substantial cultural differences between the developed and the developing world. 
D)  Marketing in developing countries is far more expensive than in the developed world. 
E)  The developing countries have more trade barriers in place than the developed countries. 
A)  The cost of production varies substantially between the developed and the developing world. 
B)  The disparity between the rich and the poor in the developing world is reducing. 
C)  There are substantial cultural differences between the developed and the developing world. 
D)  Marketing in developing countries is far more expensive than in the developed world. 
E)  The developing countries have more trade barriers in place than the developed countries.

Question 18

When forces for global integration are low and forces for national responsiveness are high, a strategy that ________ makes sense.

Accepted Answer

A)  treats the world as a single market 
B)  views the marketplace as completely homogeneous 
C)  treats the world as a portfolio of national opportunities 
D)  standardizes all elements of the marketing mix 
E)  facilitates a straight extension 
A)  treats the world as a single market 
B)  views the marketplace as completely homogeneous 
C)  treats the world as a portfolio of national opportunities 
D)  standardizes all elements of the marketing mix 
E)  facilitates a straight extension

Question 19

What are the choices available to companies when setting prices to avoid price escalation problems?

Accepted Answer

The three choices that companies have to

Question 20

When companies sell their goods abroad, they face a price escalation problem. Define price escalation.

Accepted Answer

A firm must add the costs of transportat

Exam 21: Tapping into Global Markets

In an adapted marketing mix, the company ________.

Product adaptation alters the product to meet local conditions or preferences. Identify four levels of adaptation.

Regional economic integration is defined as the creation of trading agreements between ________.

Cooperative organizations carry on exporting activities on behalf of several producers and are partly under their administrative control.

As a result of the ad campaigns depicting Brazil as a multicultural land of carnivals and beaches, any mention of the country makes people think of sun and sand. This is an example of ________.

The main disadvantage of direct investment is that the firm loses access to the market in case the government of that country insists locally purchased goods have domestic content.

International companies must decide how much to adapt their marketing strategy to local conditions. Identify and explain the two strategies companies can use.

For the launch of "Trema," your company's new pocket organizer that can also be used as a cell phone, the CMO has decided that the product can be launched in international markets without any changes in its features or the marketing strategy. This introduction can described as a ________.

Define a joint venture and list some of the advantages and disadvantages.

Domestic-based export merchants seek and negotiate foreign purchases for a commission.

A Canadian software company decides to buy majority stakes in a Chinese firm producing software. The company even adds to its Chinese production capacity. Which of the following could be a potential disadvantage of this direct investment?

A company that is planning to go global must decide on how many countries to enter and how fast to expand. A company's entry strategy typically follows one of two possible approaches. What are those approaches?

A risk averse attitude is associated with ________.

Which of the following can induce a firm to expand into the international arena?

Web-crawling technology searches for counterfeit storefronts and sales by detecting domain names similar to legitimate brands.

Which of the following causes a difference between marketing in the developed countries and marketing in the developing countries?

When forces for global integration are low and forces for national responsiveness are high, a strategy that ________ makes sense.

What are the choices available to companies when setting prices to avoid price escalation problems?

When companies sell their goods abroad, they face a price escalation problem. Define price escalation.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Market Offerings

Managing a Holistic Marketing Organization for the Long Run

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