Question 1

A consumer buys a product directly from the producer. This represents a(n) _____ channel of distribution.

Accepted Answer

The answer of A consumer buys a product directly from...

Question 2

_____ refers to a set of management practices that consists of systematic processes, planning, measurement, continuous improvement, and customer satisfaction.

Accepted Answer

The answer of _____ refers to a set of management...

Question 3

Gray markets are illegal and the operators in the market are punishable by law.

Accepted Answer

A) True 
 B)False

Question 4

Multiple brands may resonate more with specific markets, especially if a company merges with or acquires a local brand that is well respected in that region.

Accepted Answer

A) True 
 B)False

Question 5

One advantage of the _____ strategy of purchasing raw materials is that an organization can negotiate lower rates by pitting one supplier against another.

Accepted Answer

The answer of One advantage of the _____ strategy of...

Question 6

The world does become flatter to the extent a brand is recognized, accepted, and trusted across borders.

Accepted Answer

A) True 
 B)False

Question 7

In the _____ strategy, companies go back to the drawing board and rethink how best to design a product for a specific country or region.

Accepted Answer

The answer of In the _____ strategy, companies go back...

Question 8

_____ refers to a situation where the company delegates an entire process (such as accounts payable) that was previously performed in-house, to an external vendor.

Accepted Answer

A)  Open-sourcing 
B)  Multisourcing 
C)  Sole-sourcing 
D)  Home sourcing 
E)  Outsourcing

Question 9

_____ refers to buying raw materials, components, or services from one supplier exclusively, rather than buying from two or more suppliers.

Accepted Answer

A)  Open-sourcing 
B)  Multisourcing 
C)  Sole-sourcing 
D)  Home-sourcing 
E)  Outsourcing

Question 10

Taking the company's current products and selling them in other countries without changing the product is referred to as:

Accepted Answer

A)  product adaptation. 
B)  product invention. 
C)  product rebranding. 
D)  straight product extension. 
E)  product mix.

Question 11

What are the advantages of the sole-sourcing strategy?

Accepted Answer

The answer of What are the advantages of the sole-sourcing...

Question 12

What are the different methods of product adaptation followed by organizations?

Accepted Answer

The answer of What are the different methods of product...

Question 13

_____ refers to the series of firms or individuals who facilitate the movement of the product from the producer to the final consumer.

Accepted Answer

The answer of _____ refers to the series of firms...

Question 14

One advantage of straight product extension is that the products may be less costly due to lower manufacturing and labour costs in the United States.

Accepted Answer

A) True 
 B)False

Question 15

The existence of gray-market activity across a country's border has a positive impact on the producer and their channel partners (e.g., distributors and retailers) in the higher-priced country.

Accepted Answer

A) True 
 B)False

Question 16

A single supplier from Pennsylvania supplies ash tree wood to a company that manufactures baseball bats. This is an example of:

Accepted Answer

A)  open-sourcing. 
B)  multisourcing. 
C)  sole-sourcing. 
D)  homesourcing. 
E)  outsourcing.

Question 17

In marketing, which of the following holds true for counterfeit markets?

Accepted Answer

A)  It refers to the process of dividing a larger market into smaller markets that share a common characteristic, such as age, gender, income level, or lifestyle. 
B)  It refers to the trade of goods and services that are illegal in themselves and/or distributed through illegal channels. 
C)  It refers to the commerce areas where, because of price differences across countries, consumers are able to cross international borders to legally purchase products at lower prices than in their home country. 
D)  It refers to the commerce areas where vendors purposely deceive buyers by altering products and then sell them as branded products at a bargain cost. 
E)  It refers to the secretive, unregulated (though often technically legal) trading in commodity futures.

Question 18

The advantage of the _____ strategy of purchasing raw materials is that the company will often get a lower price by giving all of its volume to one supplier.

Accepted Answer

The answer of The advantage of the _____ strategy of...

Question 19

The disadvantage of straight product extension is that a company's products may not be well suited to local needs.

Accepted Answer

A) True 
 B)False

Question 20

In 1996, British Airways opened a processing centre in Mumbai, India, to handle some of its operations work. Customer relations (handling complaint letters rather than phone calls) and passenger revenue accounting (an airline finance function) were the first two major business tasks moved to India. Since then, the ROI from this relocation included savings of nearly $23 million per year per 1,000 jobs it relocates to India, reduced delays in answering complaint letters (from more than two weeks to less than three days), shorter training periods, and higher work quality. The above serves as an example of:

Accepted Answer

A)  open-sourcing. 
B)  offshoring. 
C)  in sourcing. 
D)  home sourcing. 
E)  onshoring.

Exam 14: Competing Effectively Through Global Marketing, Distribution, and Supply-Chain Management

A consumer buys a product directly from the producer. This represents a(n) _____ channel of distribution.

_____ refers to a set of management practices that consists of systematic processes, planning, measurement, continuous improvement, and customer satisfaction.

Gray markets are illegal and the operators in the market are punishable by law.

Multiple brands may resonate more with specific markets, especially if a company merges with or acquires a local brand that is well respected in that region.

One advantage of the _____ strategy of purchasing raw materials is that an organization can negotiate lower rates by pitting one supplier against another.

The world does become flatter to the extent a brand is recognized, accepted, and trusted across borders.

In the _____ strategy, companies go back to the drawing board and rethink how best to design a product for a specific country or region.

_____ refers to a situation where the company delegates an entire process (such as accounts payable) that was previously performed in-house, to an external vendor.

_____ refers to buying raw materials, components, or services from one supplier exclusively, rather than buying from two or more suppliers.

Taking the company's current products and selling them in other countries without changing the product is referred to as:

What are the advantages of the sole-sourcing strategy?

What are the different methods of product adaptation followed by organizations?

_____ refers to the series of firms or individuals who facilitate the movement of the product from the producer to the final consumer.

One advantage of straight product extension is that the products may be less costly due to lower manufacturing and labour costs in the United States.

The existence of gray-market activity across a country's border has a positive impact on the producer and their channel partners (e.g., distributors and retailers) in the higher-priced country.

A single supplier from Pennsylvania supplies ash tree wood to a company that manufactures baseball bats. This is an example of:

In marketing, which of the following holds true for counterfeit markets?

The advantage of the _____ strategy of purchasing raw materials is that the company will often get a lower price by giving all of its volume to one supplier.

The disadvantage of straight product extension is that a company's products may not be well suited to local needs.