Exam 16: Marketing in the Global Firm

The problem of end-user prices reaching exorbitant levels in the export market, caused by multilayered distribution channels, intermediary margins, tariffs, and other international customer costs is known as ________.

Free

(Multiple Choice)

4.9/5

(30)

Question 1

Correct Answer:

Verified

When an exporter gains a price advantage because its home-country currency is weakening relative to its customer's currency, then it should consider raising the prices of its products.

Free

(True/False)

4.8/5

(35)

Question 2

Correct Answer:

Verified

True

In a short essay, explain why consumers prefer global brands. What are some of the important characteristics of the most successful global brands?

Free

(Essay)

4.7/5

(27)

Question 3

Correct Answer:

Verified

Consumers frequently prefer globally branded products because global branding provides a sense of trust and confidence in their purchasing.
A strong global brand:
1. increases the efficiency and effectiveness of marketing programs
2. stimulates brand loyalty
3. allows the firm to charge premium prices
4. increases the firm's leverage with intermediaries and retailers
5 enhances the firm's competitive advantage in global markets
The firm can reduce its marketing and advertising costs by concentrating on a single global brand instead of numerous national brands. The strength of a global brand is best measured by its brand equity-the market value of the brand.
The most successful global brands tend to have several of the following characteristics:
1. High, conspicuous visibility, such as consumer electronics and jeans.
2. Status symbols, such as cars and jewelry.
3. Widespread appeal, due to innovative features that seem to fit everyone's lifestyle, such as
mobile phones, credit cards, and cosmetics.
4. Close identification with a particular country, such as Levi's (U.S. style) and IKEA furniture (Scandinavian style).

Which of the following characterize the most successful global brands?

(Multiple Choice)

4.8/5

(24)

Question 4

Gray marketers are ________.

(Multiple Choice)

4.8/5

(33)

Question 5

Differences in culture, laws, and media availability imply ________.

(Multiple Choice)

4.9/5

(34)

Question 6

The root cause of gray market activity is a large enough difference in price of the same product between two countries.

(True/False)

4.9/5

(41)

Question 7

Taken together, the key elements of a company's marketing program are known as the ________.

(Multiple Choice)

4.8/5

(24)

Question 8

Popular consumer electronics such as Apple's iPhone, Samsung's Galaxy smartphone, and Canon digital cameras, as well as well-known fashion accessories such as Rolex watches and Michael Kors handbags, are demonstrating ________.

(Multiple Choice)

4.8/5

(28)

Question 9

Locating manufacturing in countries with low-cost labor enables a firm to ________.

(Multiple Choice)

4.8/5

(33)

Question 10

International Price Setting (Scenario) The Comfy Couch Corporation (CCC) is a leading American manufacturer of sofas, sectionals, and lounge chairs. Managers from the U.S.-based firm recently met a London retailer who expressed an interest in selling CCC lounge chairs in his stores. The retailer sells a number of different furniture brands in his stores, so CCC managers need to price their furniture appropriately if the firm is to be competitive in the European market. -If CCC managers employ rigid cost-plus pricing they would most likely be disadvantaged because ________.

(Multiple Choice)

4.7/5

(38)

Question 11

Many MNEs employ relatively standardized advertising around the world, primarily because by doing so ________.

(Multiple Choice)

4.9/5

(34)

Question 12

Define international price escalation. Discuss how distribution channel length affects international business transactions.

(Essay)

4.7/5

(36)

Question 13

In international business, marketing is concerned with identifying, measuring, and responding to market opportunities abroad.

(True/False)

4.8/5

(29)

Question 14

Which of the following is TRUE with regard to a global positioning strategy?

(Multiple Choice)

4.7/5

(39)

Question 15

Refrigerator Adaptations (Scenario) Cold-Aire Inc. manufactures refrigerators from its facilities in the United States and China and ships them to retail stores around the world. Kitchen sizes vary around the world, and as a result, refrigerator sizes must vary as well. U.S. retailers want large refrigerators, while European and Asian retailers demand smaller units. Cold-Aire manufactures over 20 different models of refrigerators, which often vary in size by only a few inches. Cold-Aire managers are concerned that the firm is losing money because of product adaptations. Cold-Aire management is meeting to discuss the various cost-saving options for the firm. -Which of the following refers to an advantage for firms that adapt a unique marketing program for an individual market?

(Multiple Choice)

4.8/5

(34)

Question 16

A firm can reduce its marketing and advertising costs substantially by focusing on numerous national brands instead of a single global brand.

(True/False)

4.7/5

(34)

Question 17

All of the following refer to external factors that impact international pricing EXCEPT ________.

(Multiple Choice)

4.9/5

(44)

Question 18

Refrigerator Adaptations (Scenario) Cold-Aire Inc. manufactures refrigerators from its facilities in the United States and China and ships them to retail stores around the world. Kitchen sizes vary around the world, and as a result, refrigerator sizes must vary as well. U.S. retailers want large refrigerators, while European and Asian retailers demand smaller units. Cold-Aire manufactures over 20 different models of refrigerators, which often vary in size by only a few inches. Cold-Aire managers are concerned that the firm is losing money because of product adaptations. Cold-Aire management is meeting to discuss the various cost-saving options for the firm. -Which of the following best supports Cold-Aire making fewer refrigerator adaptations?

(Multiple Choice)

4.7/5

(36)

Question 19

Frequent business travelers, who are also affluent and eager spenders, represent a global market segment.

(True/False)

4.9/5

(30)

Question 20

Showing 1 - 20 of 102

The problem of end-user prices reaching exorbitant levels in the export market, caused by multilayered distribution channels, intermediary margins, tariffs, and other international customer costs is known as ________.

When an exporter gains a price advantage because its home-country currency is weakening relative to its customer's currency, then it should consider raising the prices of its products.

In a short essay, explain why consumers prefer global brands. What are some of the important characteristics of the most successful global brands?

Which of the following characterize the most successful global brands?

Gray marketers are ________.

Differences in culture, laws, and media availability imply ________.

The root cause of gray market activity is a large enough difference in price of the same product between two countries.

Taken together, the key elements of a company's marketing program are known as the ________.

Popular consumer electronics such as Apple's iPhone, Samsung's Galaxy smartphone, and Canon digital cameras, as well as well-known fashion accessories such as Rolex watches and Michael Kors handbags, are demonstrating ________.

Locating manufacturing in countries with low-cost labor enables a firm to ________.

Many MNEs employ relatively standardized advertising around the world, primarily because by doing so ________.

Define international price escalation. Discuss how distribution channel length affects international business transactions.

In international business, marketing is concerned with identifying, measuring, and responding to market opportunities abroad.

Which of the following is TRUE with regard to a global positioning strategy?

A firm can reduce its marketing and advertising costs substantially by focusing on numerous national brands instead of a single global brand.

All of the following refer to external factors that impact international pricing EXCEPT ________.

Frequent business travelers, who are also affluent and eager spenders, represent a global market segment.

Introduction: What Is International Business

Globalization of Markets and the Internationalization of the Firm

The Cultural Environment of International Business

Ethics, Corporate Social Responsibility, Sustainability and Corporate Governance in International Business

Theories of International Trade and Investment

Political and Legal Systems in National Environments

Government Intervention and Regional Economic Integration

Understanding Emerging Markets

The International Monetary and Financial Environment

Financial Management and Accounting in the Global Firm

Strategy and Organization in the International Firm

Global Market Opportunity Assessment

Exporting and Global Sourcing

Foreign Direct Investment and Collaborative Ventures

Licensing, Franchising, and Other Contractual Strategies

Human Resource Management in the Global Firm

Filters