Deck 14: Competing On Marketing and Supply Chain Management

Question 1

As the fourth P in the marketing mix,place includes the online marketplace.

Answer 1

True

Question 2

_____ is the flow of products,services,finances,and information that passes through a set of entities from a source to the customer.

A) Market flow
B) Supply chain
C) Demand flow
D) Revenue chain

Answer 2

B

Question 3

Why would an American company downplay its American origin while operating in another country?

A) Conveying messages based on the home county is typically bad for business.
B) Strategic price elasticity management.
C) This reduces price sensitivity in the host country.
D) Strategically downplaying the country-of-origin effect.

Answer 3

D

Question 4

Marketers are increasingly able to assess the value of targeting teens and young adults through social media.

Question 5

Cultures,norms,and values of organizations are the formal institutions that affect marketing and supply chain management.

Question 6

Localization is more cost effective than globalization.

Question 7

The term global citizens refers to the segment of consumers who are in favor of buying global brands that signal prestige and cachet.

Question 8

For savvy managers,it is highly important to lay emphasis on formal rules governing marketing rather than on informal rules.

Question 9

_____ refers to efforts to create,develop,and defend markets that satisfy individual and business customers.

A) Marketing
B) Supply chain
C) Sales
D) Business management

Question 10

Third-party logistics (3PL)provider is a neutral intermediary in the supply chain that provides logistics and other support services.

Question 11

Instead of being obscure,supply chain management is gaining traction and becoming a widely known aspect of global business.

Question 12

In international marketing,country-of-origin effect refers to the positive or negative perception of firms and products from a certain country.

Question 13

In the context of marketing,most blunders occur due to a firm's failure to appreciate the formal rules of the game.

Question 14

In the context of promotions,which of the following is a common mistake than many MNEs make overseas?

A) They convey messages according to the country-of-origin effect.
B) They promote products and services overseas without first researching if their promotion will work in the country.
C) They don't pay adequate attention to price elasticity.
D) They display different content through similar modes of promotion.

Question 15

Holding the price of a product constant,price sensitivity is directly proportional to the income of consumers.

Question 16

In order to achieve trust in supply chain relationships,there must be a perception of fairness and justice from all supply chain members.

Question 17

How demand changes when price changes is known as _____.

A) Localization
B) Promotion
C) Price elasticity
D) Price adaptability

Question 18

The term "supply chain" is almost synonymous with "value chain," encompassing both inbound and outbound logistics.

Question 19

The term global dreamers refers to the segment of consumers who are skeptical about whether global brands deliver higher-quality goods.

Question 20

Directly imitating and competing with Western multinational enterprises (MNEs)leads to opportunism.

Question 21

Burger Champ,a restaurant chain based in Zaneland,has a subsidiary in Arkadas.In this case,which of the following will be true if Burger Champ adopts a localization strategy?

A) It will include wine in the menu because wine is famous in Arkadas.
B) It will sell roast chicken burger as it is a signature dish of the restaurant chain.
C) It will include dishes that are familiar to the people of Zaneland.
D) It will introduce dishes that are new and different to the people of Arkadas.

Question 22

Which of the following is an example of a product?

A) Billboards
B) An online seller website
C) Fuel used to run machines
D) Online advertising

Question 23

In the context of marketing mix,localization can be adopted by:

A) selling the same product worldwide.
B) selling entirely new and customized products to the local markets.
C) selling a product that is successful in the home country.
D) selling products that appear to be locally adapted.

Question 24

Which of the following statements is true of standardized promotions?

A) They convey messages according to the country-of-origin effect.
B) They reduce the costs incurred by companies for promotional efforts.
C) They are proven to be more effective than localized promotions in all countries.
D) They display different content through similar modes of promotion.

Question 25

John works as a quality analyst at a technological firm.He wanted to buy a mobile phone for his wife.Though he was abreast of the latest mobile phone brands that were introduced in the global market,he bought a phone that was produced and marketed locally.He was skeptical about whether global brands deliver high-quality goods.In the context of market segmentation,it is evident that John falls under the segment of _____.

A) global citizens
B) global dreamers
C) antiglobals
D) global agnostics

Question 26

Which of the following statements is true of a distribution channel?

A) It is almost synonymous with demand chains.
B) It traditionally encompasses outbound logistics.
C) It handles the entire process of value creation.
D) It inhibits any contribution to the world's GDP.

Question 27

In the context of market segmentation,which of the following strategies should be adopted by multinational enterprises to target global agnostics?

A) They should write them off as lost customers.
B) They should market localized products and services under local brands.
C) They should leverage standard global brands.
D) They should imitate the features of local brands in their global brands.

Question 28

Peter,a passionate athlete,uses sports shoes manufactured by Friction Shoes Inc.because of their high quality soles.When Friction Shoes introduced a new line of shoes,Peter could not afford to buy them.Nevertheless,he feels that they are the best in the market.In this case,Peter belongs to the segment of _____.

A) global citizens
B) global dreamers
C) antiglobals
D) global agnostics

Question 29

In the context of marketing mix,the term _____ refers to the expenditures that customers are willing to pay for a product.

A) value
B) price
C) margin
D) promotion

Question 30

Firms that thrive on agile supply chains:

A) quickly tackle the shocks that come up in supply chain.
B) change their configurations in response to long-term changes.
C) treat their suppliers as partners and have "partner councils" with regular meetings.
D) involve themselves in making a series of make-or-buy decisions.

Question 31

Jane is a middle-aged woman fond of EpidermaNow's skincare products.These products are produced and marketed globally.EpidermaNow recently released a sun-screen lotion.Despite the lotion's high price and unproven effectiveness,Jane bought the lotion on the day of its release in the market.Given this information,Jane belongs to the segment of _____.

A) global citizens
B) global dreamers
C) antiglobals
D) global agnostics

Question 32

Which of the following are the two key factors to achieving alignment?

A) Supply chain members and consumers
B) Power and trust
C) Inputs and outputs
D) Flexibility and control

Question 33

_____ refers to activities to plan,organize,lead,and control the flow of products,services,finances,and information that passes through a set of entities from a source to the customer.

A) Contingency planning
B) Demand chain management
C) Supply chain management
D) Enterprise resource planning

Question 34

In the context of the marketing mix,the term _____ refers to the location where products and services are provided.

A) promotion
B) product
C) place
D) price

Question 35

Lightwire Co.made the decision a decade ago to make the copper wires it needs for its products in house rather than outsourcing this need.As a consequence,Lightwire was stuck with relatively higher costs over the long term,and is currently in negotiations to be bought out.Where,in the context of supply chain management,did Lightwire go wrong?

A) Adaptability
B) Alignment
C) Adjustment
D) Agility

Question 36

In the context of marketing products,which of the following scenarios illustrates a standardization strategy?

A) Harlose Bakeries includes beer in its menu in Lumberne and wine in its menu in Acquardica because beer is famous in Lumberne and wine is famous in Acquardica.
B) ConePhase,a restaurant chain based in Utopor,drops beef burgers from its menu in Lumeria as slaughtering cows is against the religious beliefs followed in Lumeria.
C) Charge Tool,a spark plug manufacturing company based in Lucitona,sells steel spark plugs in Cantononia because they are the most preferred spark plugs in Lucitona.
D) Rues and West Bros.,a weapon manufacturing company based in Sparanthea,sells weapons that are in high demand in its markets.

Question 37

In the context of market segmentation,unlike global citizens,global dreamers:

A) may not be able to afford,but nevertheless admire,global brands.
B) are skeptical about whether global brands deliver higher-quality goods.
C) are most likely to lead anti-globalization demonstrations.
D) believe that not all global brands are acceptable in the market.

Question 38

Which of the following is one the components of the marketing mix?

A) Promotion
B) Packaging
C) Planning
D) Principles

Question 39

Which of the following statements is true of global agnostics?

A) They are in favor of buying global brands that signal prestige and cachet.
B) They are skeptical about whether global brands deliver higher-quality goods.
C) They are most likely to lead anti-globalization demonstrations.
D) They may not be able to afford,but nevertheless admire,global brands.

Question 40

Jane's,Peter's,Joshua's,and Austin's monthly incomes are $600,$550,$650,and $700,respectively.Since they live together,each of them is obliged to pay $100 for household expenses every month.In this scenario,who among the following is likely to be the most price sensitive among the four?

A) Jane
B) Austin
C) Joshua
D) Peter

Question 41

Which of the following factors leads to excessive bargaining in a supply chain?

A) Supply chain members of more or less equal standing
B) A recognized leader exercising power
C) Alignment of interests between members of the supply chain
D) Flexibility in a supply chain

Question 42

Briefly explain the implications for action that govern the success of marketing and supply chain management.

Question 43

Explain the triple As in supply chain management.

Question 44

Thumb Ink Inc.is a publishing company based in the United States.Its marketing and supply chain activities will add value when:

A) it dispatches new quality regulations to its vendors.
B) it switches to online media because they are widely used.
C) it copies the standards of other publishing companies.
D) it enters into joint ventures.

Question 45

In the context of the institution-based view,formal rules of the game affect marketing and supply chain management by:

A) imposing constraints on the equity levels held by foreign retailers.
B) focusing on the underlying differences in culture,language,and norms.
C) encouraging only those companies that follow a localization strategy.
D) imposing restrictions on companies' designing strategies.

Question 46

Explain how institutions affect marketing and supply chain management.

Question 47

_____ refers to the ability to change supply chain configurations in response to longer-term changes in the environment and technology.

A) Adaptability
B) Alignment
C) Agility
D) Authority

Question 48

According to the VRIO (value,rarity,imitability,organization)criteria,which of the following marketing or supply chain activities must be avoided by companies?

A) Activities that are hard to imitate
B) Activities that add value
C) Activities that contribute to organizational capabilities
D) Activities that are followed by other vendors

Question 49

Explain how promotions are carried out globally.

Question 50

Explain the transition from managing distribution channels to modern day supply chain management systems.

Question 51

In the context of supply chain management,which of the following strategies will help in improving alignment?

A) Making a series of make-or-buy decisions
B) Introducing a neutral middleman,like third-party logistics (3PL)providers
C) Monitoring major geopolitical,social,and technological trends
D) Changing supply chain configurations in accordance with short-term changes

Question 52

Which of the following examples best illustrates the effect of informal institutions on marketing and supply chain management?

A) Fitchell Corp.communicated new quality regulations to its vendors,which in turn changed the quality standard of the material supplied by the vendors to their domestic companies.
B) Huran Inc.dropped the idea of advertising its products via newspapers in Duador because most of the people in Duador read news on the Internet.
C) Tenoy Inc.once had the most graphic animation in advertisements,but is forced to modify them because such advertisements are not rare anymore.
D) Esca Motors dissolved its contract with a company that was providing with aerodynamic frames for its vehicles because the company was using this as a leverage to compete with Esca Motors.

Question 53

In the context of supply chain management,which of the following strategies will ensure success?

A) Refraining from focusing attention on the formal regulatory framework
B) Preferring informal institutions rather than formal regulatory frameworks
C) Focusing on product and price rather than promotion and place
D) Focusing on agility,adaptability,and alignment

Question 54

In the context of supply chain management,which of the following is true of adaptability?

A) It helps in overcoming short-term fluctuations in the supply chain.
B) It can be enhanced by making a series of make-or-buy decisions.
C) It involves aligning the interests of various elements in the supply chain.
D) It focuses on achieving power and trust.

Question 55

In a supply chain,having a recognized leader exercising power leads to:

A) excessive bargaining between supply chain members.
B) facilitation of legitimacy in the supply chain.
C) reduction in the efficiency of the supply chain.
D) violation of trust between supply chain members.