Exam 1: Introduction to Global Marketing

The perceived value equation can be represented as Value = Price / Benefits.

H.F.Iskander,general manager of Chevron's Kuwait office,stated "Chevron is pumping oil in different locations all over the world ...there isn't a rock we haven't drilled through.We centralize all that knowledge at our headquarters,analyze it,sort it out,and that enables us to solve any oil-drilling problem anywhere." From the global marketing point of view this is an example of a global company:

According to Michael Porter,a global industry is one in which ________ can be achieved by integrating and leveraging operations on a worldwide scale.

One of the dimensions of global marketing strategy which pertains to marketing management is:

In their book,Daniel Yergin and Joseph Stanislaw wrote "It is the greatest sale in the history of the world.Governments are getting out of businesses by disposing of what amounts to trillions of dollars of assets.Everything is going-from steel plants and phone companies ...to hotels,restaurants,and nightclubs." This is an indication of:

Based on the size of the market in U.S.dollars,the leading consumer products are:

A number of multilateral trade agreements have accelerated the pace of global integration which include:

Economic growth has reduced resistance that might otherwise have developed in response to the entry of foreign firms into domestic economies.

Using McDonald's as an example,show how effective global marketing can be successfully achieved.

The marketing mix is integral to the value equation which is represented by:

In an effort to "Americanize" the sound of the Beatles' recordings,a studio effect known as reverb was added to some tracks.

About 75 percent of the Coca-Cola Company's operating income and two-thirds of its operating revenue are generated outside North America.

Describe how the global marketing strategy is different when compared to that of single country marketing.

McDonald's restaurants are found in more than 118 countries.To ensure high levels of consistency and quality,the company's far-flung restaurant system incorporates many standardized elements (e.g.restaurant design,burgers / fries / soft drinks as basic menu offerings).However,McDonald's also prides itself on sourcing many of its food inputs (e.g.potatoes and dairy products)in individual host countries.McDonald's strives to be locally responsive-it creates new menu items specifically designed with local eating customs and preferences in mind.Typically,McDonald's forms joint ventures with local partners,a tactic that ensures that a local "face" is associated with the company.Finally,McDonald's has been in many country markets long enough that a new generation of consumers has grown up with McDonald's and are not aware of the company's U.S.origins.On the basis of this summary,what is the highest stage of corporate development that McDonald's arguably has achieved?

Evidence of the company's ongoing commitment to innovation can be seen in continuous new product introduction.

A company that succeeds in global marketing:

Uniqlo,a division of Japan's Fast Retail,operates about 850 stores in Japan and currently has six stores in the United States.Their plans call for a total of 200 U.S.stores by 2020.The fulfillment of their plan will depend on:

A global company can leverage its experience in any market in the world.

A true transnational company would be characterized as "stateless."

In an effort to "Americanize" the sound of the Beatles' recordings,a studio effect known as reverb was added to some tracks.From the global marketing perspective,what does this change represent?