Deck 1: Understanding Global Markets and Marketing

Question 1

To understand and compete with emerging market firms, it is essential to develop:

A) A thorough appreciation of the underlying technologies.
B) Renewed interest in original theories of international trade theory.
C) Branch operations in each of the countries where these firms are based.
D) Sophisticated Marketing Information Systems to track exports of these firms.
E) Active memberships in the industry groups and associations where these firms might also be members.

Answer 1

A

Question 2

Creating, exploiting and commercializing new technologies is essential for global competitiveness. High-tech can be defined according to three different approaches: the sector approach, the product approach, and _________________.

A) the cultural approach
B) the patent approach
C) the national approach
D) the global marketing approach
E) the customer approach

Answer 2

B

Question 3

Globalization does not occur as a single phenomenon but affects many facets of business and personal lives. Which of the following is NOT one kind of globalization examined in the text?

A) Cultural Globalization
B) Financial Globalization
C) Employment Globalization
D) Educational and Social Globalization
E) Economic Globalization

Answer 3

C

Question 4

The objective of Global Marketing is:

A) worldwide mandates of a single price level which dictates target market selection and marketing mix decisions.
B) centralized decision making that conforms to home country marketing mix decisions.
C) decentralized decision making that conforms to separate target markets for each country.
D) worldwide coordination of all marketing activities such as marketing mix decisions and target market selection.
E) coordination of regional marketing mix decisions and target market selection.

Question 5

Firms must decide if it is preferable to use a Standardization versus Localization-Adaptation approach. Considerations supporting a Standardization approach are:

A) Customer segments in many countries still have differing preferences.
B) Some products are cheap to develop, produce and do not have learning curve issues.
C) Companies using a standardized approach can gain economies of scale in both production and marketing when customer segments have converging preferences.
D) Customers always will pay a premium price for the most luxurious brand in a product class.
E) Even with a standardized product, often other marketing mix variables should be localized.

Question 6

Firms must decide if it is preferable to use a Standardization versus Localization-Adaptation approach. Considerations supporting a Localization-Adaptation approach are:

A) Customer segments in many countries still have differing preferences across marketing mix variables.
B) Some products are expensive to develop, produce and have learning curve issues.
C) Companies using a standardized approach can gain economies of scale in both production and marketing when customer segments have converging preferences.
D) It is the optimal strategy to have only one standard product and standard marketing mix.
E) Customers insist on value pricing for a basic product without costly "extras."

Question 7

The EPRG Framework includes four approaches or orientations which include:

A) Econometric, Polycentric, Regiocentric, Geocentric
B) Ethnocentric, Polycentric, Regioncentric, Geocentric
C) Ethnographic, Polycentric, Regiocentric, Geocentric
D) Ethnocentric, Polycentric, Religious, Geocentric
E) Ethnocentric, Polycentric, Regiocentric, Geopolitical

Question 8

Theodore Levitt advocated Globalization of Marketing based on:

A) flexible manufacturing, price insensitivity, and differentiation of consumer tastes.
B) flat organizational structures, consumer prosperity, and heterogeneous consumer segmentation.
C) substantial economies of scale, consumer price sensitivity to price/quality, and homogenization of consumer desires across national boundaries.
D) managed manufacturing scale, consumer sovereignty, and multiple target markets.
E) coordination of regional marketing mix decisions and target market selection with many local manufacturing plants.

Question 9

In the past, forecasting often relied on linear development, but today trends are paradoxical. Three important paradoxical trends are 1) the increasing power of multinational firms versus the fragility of multinationals, 2) media reach versus fragmentation of media, and 3) _______________________.

A) marketing manager thought versus marketing management action
B) the WTO versus the UN
C) the pace of infrastructure development versus the pace of technology improvements
D) rich versus poor
E) linear development versus circular development

Question 10

The traditional 4Ps of the marketing mix do not fully meet the characteristics of emerging markets. The 4Ps are often complemented or replaced by the 4As, which are:

A) Action, availability, acceptability, awareness
B) Affordability, advertising, acceptability, awareness
C) Affordability, availability, alignment, awareness
D) Action, availability, accountability, awareness
E) Affordability, availability, acceptability, awareness

Question 11

One of the paradoxes global marketers must address is that of rich versus poor. With paradoxes there are both opportunities and challenges. What are some of the challenges marketers must address in working to satisfy needs of each?

Question 12

What are some of the non-IT and non-communications technological advances that are driving globalization?