Deck 14: Marketing

Question 1

________ is the perception by consumers of the firm's brand in relation to competitors' brands.

A)Positioning
B)Reverse innovation
C)Dual pricing
D)Dumping
E)Gray markets

Answer 1

A

Question 2

When arriving at an estimate of sales potential,the marketer needs to collect product and market-specific data.The data will have to do with the degree of relative advantage,compatibility,complexity,trialability,and communicability.These elements refer to ________.

A)competition
B)market
C)consumers
D)product
E)channel structure

Answer 2

D

Question 3

________ is the share of the market potential that the firm can reasonably expect to get over the longer term.

A)Sales potential
B)Market potential
C)Positioning
D)Diversification
E)Cost-plus method

Answer 3

A

Question 4

Which of the following is not a stage in the four-stage screening process for screening and analyzing foreign markets?

A)Preliminary screening
B)Estimating market potential
C)Estimating sales potential
D)Identification of potential employees
E)Identification of segments

Question 5

One of the factors distinguishing China's wealthy consumers from their foreign counterparts is their youth: some ________ percent are under 45 years of age.

A)20
B)40
C)50
D)60
E)80

Question 6

Differences among markets exist in three dimensions: ________,________,and ________.

A)physical; mental; psychic
B)psychological; physical; economic
C)psychic,mental; physical
D)economic; physical; mental
E)physical; psychic; economic

Question 7

________ distance is the geographic distance between home and target countries.

A)Physical
B)Psychic
C)Economic
D)Psychological
E)Mental

Question 8

Analysis of the difference between market potential and actual sales is called a(n):

A)Income elasticity of demand
B)Market audit
C)Analogy
D)Longitudinal analysis
E)Gap analysis

Question 9

While China's Kentucky Fried Chicken menu features its signature "Original Recipe" fried chicken,it also creates products that appeal to local tastes such as the Spicy Dragon Twister,Pi Dan Congee,and Fu Young Vegetable Soup.This is an example of the ________ characteristics affecting product adaptation decisions.

A)product
B)regional,country,or local
C)company
D)promotion
E)distribution

Question 10

The market expansion policy that involves concentrating on a small number of markets is referred to as ________.

A)longitudinal analysis
B)concentration strategy
C)diversification
D)reverse innovation
E)dumping

Question 11

Expansion strategy is determined by the factors relating to ________,________,and ________.

A)mix; product; adaptation
B)market; mix; company
C)company; adaptation; mix
D)promotion; mix; company
E)market; promotion; distribution

Question 12

________ is the activity,set of instructions,and processes for creating,communicating,delivering,and exchanging offerings that have value for customers,clients,partners,and society at large.

A)Exchange
B)Value
C)Marketing
D)Satisfaction
E)Analogy

Question 13

With high and stable growth rates in certain markets,a firm will most likely opt for a(n)________ strategy.

A)concentration
B)diversification
C)positioning
D)dual pricing
E)analogy

Question 14

Of the following,which is NOT a quantitative technique for estimating market potential?

A)Income elasticity of demand
B)Market audit
C)Analogy
D)Longitudinal analysis
E)Survey

Question 15

A(n)________ is a method for estimating market potential from similar products when data for the specific products do not exist.

A)market audit
B)gap analysis
C)analogy
D)positioning
E)reverse innovation

Question 16

Of the following,which is NOT a factor encouraging standardization?

A)Economies of scale in production
B)Economies in marketing
C)Control of marketing programs
D)"Shrinking" of the world marketplace
E)Differing buyer behavior patterns

Question 17

Executives at M.L.Jones Company are interested in selecting a target market for the company's new line of computer software.Executives are currently assessing the size of existing markets and forecasting the size of future markets.What stage of the process for screening and analyzing foreign markets is the Company currently in?

A)Preliminary screening
B)Estimating market potential
C)Estimating sales potential
D)Identification of potential employees
E)Identification of segments

Question 18

Customs and traditions in Western cultures such as the United States are different from customs and traditions in Eastern cultures such as China.For example,the United States focuses on individualism while China is collectivist.This is an example of ________ distance.

A)physical
B)psychic
C)economic
D)psychological
E)mental

Question 19

What are the three sets of variables affecting adaptation?

A)The company characteristics,the control of marketing programs,and "shrinking" of the world marketplace
B)The differing use conditions,the markets targeted,and local initiative
C)The markets targeted,the product and its characteristics,and company characteristics
D)The product and its characteristics,the economies of scale in production,and "shrinking" of the world marketplace
E)The local initiative,the control of marketing programs,and the economies of scale in marketing

Question 20

All around the world,the majority of corporate sponsorship is allocated to ________.

A)sports
B)academics
C)music
D)art
E)nonprofits

Question 21

In 2008,________ remained the largest single media market in the world,with $170 billion in measured media spending.

A)the United States
B)China
C)Japan
D)Russia
E)Germany

Question 22

________ are the inherent features of the product offering,whether actual or perceived.

A)Promotion characteristics
B)Packaging characteristics
C)Product characteristics
D)Labeling characteristics
E)Company characteristics

Question 23

The largest media spender in 2008 was ________.

A)General Motors
B)Toyota
C)Coca-Cola
D)Procter and Gamble
E)Ford

Question 24

________ is based on a demand-oriented strategy and is thus more consistent with the marketing concept.

A)Dual pricing
B)Cost-plus method
C)Marginal cost method
D)Market-differentiated pricing
E)Standard worldwide pricing

Question 25

How might an international marketer select and screen intermediary candidates?

A)Use the service of governmental agencies
B)Use private sources such as trade directories
C)Use telephone directories
D)Facilitate the support of banks and airlines
E)All of the above

Question 26

Global Internet penetration grew at a rate of ________ percent from 2000 to 2009.

A)100
B)200
C)300
D)380
E)450

Question 27

________ is based on average unit costs of fixed,variable,and export-related costs.

A)Dual pricing
B)Cost-plus method
C)Marginal cost method
D)Market-differentiated pricing
E)Standard worldwide pricing

Question 28

________ is an Internet advertising model used on search engines,advertising networks,and content web sites (such as blogs),where advertisers only pay when a user actually clicks on an advertisement to visit the advertisers' web site.

A)Pay-per-view
B)Pay-per-click
C)Pay-per-page
D)Pay-per-access
E)Pay-per-site

Question 29

What brand was ranked as number one in both 2008 and 2009 as the most valuable global brand?

A)IBM
B)Microsoft
C)Nokia
D)Coca-Cola
E)McDonald's

Question 30

________ are brands that reach the world's mega-markets and are perceived as the same brand by consumers and internal constituents.

A)Universal brands
B)Global brands
C)Worldwide brands
D)International brands
E)Intercontinental brands

Question 31

________ is the only element in the marketing mix that is revenue generating; all of the others are costs.

A)Placement
B)Pricing
C)Product
D)Promotion
E)Production

Question 32

About ________ in domestic and export sales are estimated to be lost by companies worldwide annually because of product counterfeiting and trademark patent infringement of consumer and industrial products.

A)$2 million
B)$25 million
C)$250 million
D)$25 billion
E)$250 billion

Question 33

Any transaction involving the transfer of ownership or rights to use goods and services,which is initiated and/or completed by using mobile access to computer-mediated networks with the help of an electronic device is called ________.

A)m-commerce
B)e-commerce
C)B2B
D)c-commerce
E)b-commerce

Question 34

Which of the following is NOT one of the four main transfer-pricing possibilities that have emerged over time?

A)Transfer at a price derived from consumer expectations
B)Transfer at direct cost
C)Transfer at direct cost plus additional expenses
D)Transfer at a price derived from end-market prices
E)Transfer at an arm's length price

Question 35

The international marketer can use the 11 Cs as a checklist to determine the proper approach to reach target audiences before selecting channel members to fill the roles.The marketer must analyze existing channel structures,or what might be called the distribution ________ of a market.

A)competition
B)character
C)culture
D)capital
E)coverage

Question 36

In a study of 42 U.S.-based multinational corporations,the major problem areas they reported in making pricing decisions were: meeting competition,cost,lack of competitive information,distribution and channel factors,and ________.

A)inadequate capital
B)governmental barriers
C)poor management
D)inadequate planning
E)insufficient workforce

Question 37

Coca-Cola took a risk in marketing Diet Coke in Japan because the population is not overweight by Western standards.Further,Japanese women do not like to drink anything clearly labeled as a diet product.The company changed the name to Coke Light and subtly shifted the promotional theme from "weight loss" to "figure maintenance." Coca-Cola was interested in the product's ________.

A)positioning
B)diversification
C)channel design
D)analogy
E)gap analysis

Question 38

The ability to offer goods and services over the web is referred to as ________.

A)m-commerce
B)e-commerce
C)B2B
D)media strategy
E)channel design

Question 39

________ refers to the marketing of products through unauthorized channels.

A)Dumping
B)Gray markets
C)Channel design
D)Price escalation
E)M-commerce

Question 40

The key decision-making areas in advertising are: ________,________,and ________.

A)media strategy; the promotional message; the organization of the promotional program
B)the promotional message; the distribution channel; the pricing strategy
C)the pricing strategy; the media strategy; the organization of the promotional program
D)the distribution channel; the product; the channel design
E)the channel design; the promotional message; the media strategy

Question 41

The term cost is used to describe the financial requirements in setting up a channel system.

Question 42

The more that standardization of a product is possible,the less diversification is indicated.

Question 43

Customers,culture,and competition are givens in that the company must adjust its approach to the existing structures.

Question 44

As the Danone example in Focus On Management illustrates,marketers can respond to changing marketing conditions with carefully calibrated price adjustments in individual countries accompanied and integrated with other elements of the marketing mix.

Question 45

Global brands compete on emotion,catering to aspirations that cut across cultural differences.

Question 46

Food is arguably one of the most culture-sensitive categories.

Question 47

Questions of adaptation have relatively easy answers.

Question 48

In industrialized countries,the richest 30 percent of the population consumes 30 percent of all goods and services,whereas the respective figure for the developing countries may be as high as 75 percent.

Question 49

________ is the marketing communications function charged with executing programs to earn public understanding and acceptance,which means both internal and external communication.

A)Personal selling
B)Advertising
C)Sales promotions
D)Public relations
E)Publicity

Question 50

When the sales response function is an S-curve,sales will increase at a decreasing rate because of competition and a lowering adoption rate.

Question 51

Generally,the greater the overall distance-or difference-between two countries,the less knowledge the marketer has about the target market.

Question 52

Public relations activity includes anticipating and countering criticism.The criticisms range from general ones against all multinational corporations to specific complaints.________ certification is the most common variety,whereby a single firm develops its own rules and reports on compliance.

A)First-party
B)Second-party
C)Third-party
D)Fourth-party
E)Fifth-party

Question 53

The basic tasks of marketing vary based on geographic markets.

Question 54

Pricing in the international environment is less complicated than in the domestic market.

Question 55

Total market potential is the sales,in physical or monetary units,that might be available to all firms in an industry during a given period under a given level of industry marketing effort and given environmental conditions.

Question 56

Adapting to local conditions in each and every target market is one of the three basic alternatives to marketers in approaching international markets.

Question 57

Activities such as couponing,sampling,premiums,consumer education and demonstration activities,cents-off packages,point-of-purchase materials,and direct mail are examples of ________.

A)advertising
B)personal selling
C)sales promotion
D)publicity
E)public relations

Question 58

Developing the promotional message is referred to as ________.

A)promotional development
B)creative strategy
C)advertising
D)media development
E)market design

Question 59

In the early stages of internationalization,exporters rely heavily on personal contact.As a result,many promotional efforts consist of ________.

A)Internet advertisements
B)billboards
C)newspaper ads
D)radio advertisements
E)personal selling

Question 60

The complicating factors that separate the two parties in a channel relationship fall into three categories: ownership,geographic and cultural distance,and different rules of law.

Question 61

The ideal situation in developing message strategy is to have a world brand-a product that is manufactured,packaged,and positioned the same around the world.

Question 62

Word-of-mouth and grassroots-brand advocacy do not have a powerful effect,especially for the launch of new products and services,because it takes too long for the information to travel from one person to another.

Question 63

According to a survey of opinion leaders by Edelman,the world's largest independent public relations firm,trust plays a key role in brand choices.

Question 64

Price-setting strategy in which the export price and domestic price are differentiated is referred to as ________.

Question 65

________ are brands that reach the world's mega-markets and are perceived as the same brand by consumers and internal constituents.

Question 66

A method for estimating market potential from similar products when data for the specific products do not exist is called ________.

Question 67

________ considers the direct costs of producing and selling goods for export as the floor beneath which prices cannot be set.

Question 68

A market expansion policy characterized by growth in a relatively large number of markets or market segments is referred to as ________.

Question 69

________ is the perception by consumers of a firm's product in relation to competitors' products.

Question 70

A(n)________ involves repeated observations of the same event over long periods of time.

Question 71

Price-setting strategy based on demand rather than cost is called ________.

Question 72

Online transactions and the information they provide about the buyer allows for greater customization and for service by region,market,or even by individual customer.

Question 73

A means of describing change in demand in relative response to a change in income is called ________.

Question 74

Analysis of the difference between market potential and actual sales is referred to as ________.

Question 75

________ refers to an innovation seen first,or likely to be used first,in the developing world before spreading to the industrialized world.

Question 76

Price-setting strategy based on average unit costs of fixed,variable,and export-related costs is called ________.

Question 77

A pricing policy in which there is a full allocation of foreign and domestic costs to the product is known as ________.

Question 78

A(n)________ is a method of estimating market size by adding together local production and imports,with exports subtracted from the total.

Question 79

Worldwide media spending does not vary around the world.

Question 80

The market expansion policy that involves concentrating on a small number of markets is known as ________.