Chat with AIExam 14: Competing on Marketing and Supply Chain Management
In a broad sense,every supply chain is a strategic alliance involving a variety of players,each of which is a profit-maximizing,stand-alone firm.
(29) 
VerifiedTrue
In the context of segmentation based on customer categories,global dreamers are always in favor of buying global brands that signal prestige and cachet.
(32) VerifiedFalse
Explain the four Ps of marketing.
(27) VerifiedThe four Ps that collectively consist of the marketing mix are product,price,promotion,and place.
Product refers to the offerings that customers purchase.Product attributes vary tremendously.For MNEs doing business around the world,leading concerns include standardization versus localization,and deciding whether to market global brands or local brands in their portfolio.The key to the second concern is market segmentation.
Price refers to the expenditures that customers are willing to pay for a product.Since most customers are price sensitive,there is price elasticity which means,how demand changes when price changes.In addition to the price at the point of purchase,another dimension of price is the total cost of ownership.In international marketing,it is important to note that aggressively low prices abroad may be accused of dumping,thus triggering protectionist measures.
Promotion refers to all the communications that marketers insert into the marketplace.It includes TV,radio,print,and online advertising,as well as coupons,direct mail,billboards,direct marketing (personal selling),and public relations.Marketers face a strategic choice of whether to standardize or localize promotional efforts.Standardized promotions not only project a globally consistent message,but can also save a lot of money.However,there is a limit to the effectiveness of standardized promotion.
Place refers to the location where products and services are provided (which now includes the online marketplace).Technically,place is also often referred to as the distribution channel-the set of firms that facilitate the movement of goods from producers to consumers.
Adaptability in supply chain management refers to the ability to quickly react to unexpected shifts in supply and demand.
(24) According to the economic theory of supply and demand,a drop in price generates stronger demand.
(32) Total cost of ownership is often explicitly evaluated prior to purchase decisions.
(26) Alignment refers to the grouping of interests of various players involved in the supply chain.
(38) Which of the following was considered the primary sector for organized economic activities during the Industrial Revolution in the 18?? and 19?? centuries?
(33) Which of the following four Ps in the marketing mix includes the online marketplace?
(36) The category of customers who are skeptical about whether global brands deliver higher quality goods are called _____.
(32) The two key elements to achieve alignment are power and _____.
(36) Introducing third-party logistics (3PL)providers may more effectively align the interests in the supply chain.
(37) List the globally useful ways of segmenting according to customer categorization.
(29) Which of the following must be practiced to avoid blunders in international marketing?
(31) ____ refers to the ability to change supply chain configurations in response to long-term changes in the environment and technology.
(34) Although the word "product" originally referred to a physical product,its modern use has included services.
(30) Price elasticity refers to the changes in demand when price changes.
(25) Which of the following was considered the secondary sector for organized economic activities during the Industrial Revolution in the 18?? and 19?? centuries?
(33) The term "supply chain" is almost synonymous with "value chain," encompassing both inbound and outbound logistics.
(39) MNEs dealing with global dreamers can market localized products and services under local brands.
(29) 
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