Question 1

The first step in inventing a product for a new country market is to understand the key product characteristics needed to succeed in that market.

Accepted Answer

Understanding the key product characteristics of a new country market is essential in order to create a product that will be successful and meet the needs of consumers in that market. It is important to conduct market research and analyze consumer preferences and behavior to determine what features and qualities are necessary for a product to succeed in a specific country.

Question 2

Which of the following statements holds true for the indirect channel of distribution?

Accepted Answer

The answer of Which of the following statements holds true...

Question 3

In marketing,which of the following statements holds true for place?

Accepted Answer

Place refers to the location at which the company offers any physical good or intangible service for sale.

Question 4

In marketing,which of the following statements holds true for price?

Accepted Answer

Price refers to the amount of money that the consumer pays for any physical good or intangible service.

Question 5

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

Accepted Answer

Counterfeit markets involve vendors deceiving buyers by altering or imitating products and selling them as genuine branded items, often at lower prices.

Question 6

Companies invest a lot in building their brand recognition and reputation because a brand name signals trust.

Accepted Answer

Companies understand that a strong brand name can signal trust and attract customers. This is why they invest in building and maintaining their brand recognition and reputation.

Question 7

In marketing,which of the following statements holds true for the direct channel of distribution?

Accepted Answer

The direct channel of distribution refers to the shortest channel of distribution, consisting of just the producer and the end consumer, without any intermediary in between.

Question 8

The main disadvantages of global sourcing are low quality and higher cost.

Accepted Answer

The statement is incorrect. While global sourcing can come with risks such as longer lead times and potential language or cultural barriers, it can also offer many advantages such as lower costs, access to specialized expertise, and improved supply chain flexibility. Quality issues and higher costs can be mitigated through effective supplier management and quality control measures.

Question 9

In marketing,gray market refers to the:

Accepted Answer

Gray market refers to the legal trade of goods and services through unauthorized channels, often due to price differences across countries. This is different from black market trade (illegal goods and services) or counterfeit trade (fraudulent products sold as genuine).

Question 10

In marketing,which of the following statements holds true for a product?

Accepted Answer

A product refers to any physical good or intangible service that is offered for sale.

Question 11

In marketing,market segmentation refers to the:

Accepted Answer

Market segmentation is the process of dividing a larger market into smaller groups of consumers with similar needs or characteristics. This allows companies to develop targeted marketing strategies for each group, rather than trying to appeal to the entire market as a whole. The common characteristics that are used to segment markets include demographic factors such as age, gender, income level, and lifestyle.

Question 12

The Los Altos firm-which performs global market research on everything from routers to software for clients including Cisco,HP,and Microsoft-has only 14 full-time employees.But it farms out research from Silicon Valley to India's Evalueserve and to some 5,000 other independent experts in China,the Czech Republic,and South Africa.The above serves as an example of:

Accepted Answer

The passage describes how the Los Altos firm farms out research to entities in other countries, which is a clear example of outsourcing.

Question 13

Nestlé India has a distribution channel that consists of the central warehouse near New Delhi.The goods are handed over to carry forward agents.The agents ensure that the goods reach the distributors assigned to each territory.Then the goods are passed over to the wholesalers in each of the territories.The goods then go to the retailers and finally reach the end customers.The above constitutes an example of:

Accepted Answer

This is an example of an indirect channel of distribution as the goods do not directly reach the end customers but pass through various intermediaries such as carry forward agents, distributors, wholesalers, and retailers.

Question 14

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

Accepted Answer

The scenario described is an example of sole-sourcing, as the company relies on a single supplier for a specific resource (ash tree wood). Open-sourcing refers to making the source code of software freely available to anyone to use or modify. Multisourcing involves obtaining goods or services from multiple sources. Homesourcing refers to hiring workers who work remotely from their homes. Outsourcing refers to obtaining goods or services from an external provider.

Question 15

In marketing,which of the following statements holds true for promotion?

Accepted Answer

Promotion refers to the activities that inform and encourage consumers to buy any physical good or intangible service including advertising (whether print, radio, television, online, billboard, poster, or mobile), coupons, rebates, and personal sales. The other options refer to different marketing terms such as distribution (A), product (B), price (C), and place (E).

Question 16

In the case of sole-sourcing,if the company gives the supplier a lot of business,the company may have more influence over the supplier for preferential treatment.

Accepted Answer

When a company gives the supplier a lot of business through sole-sourcing, the supplier becomes more dependent on the company and may be willing to give preferential treatment in order to maintain the business relationship.

Question 17

A consumer durable company produces and markets refrigerators locally.It faces competition from cheap imports.To compete with the cheap imports,it starts procuring the component parts of the refrigerator from a country with low manufacturing costs.The above is an example of:

Accepted Answer

The company is procuring the component parts from another country with low manufacturing costs, which is a strategy of global sourcing. Open-sourcing refers to obtaining services or products from an open or publicly accessible source, while in-sourcing refers to using a company's own resources to perform a task instead of outsourcing it. Home sourcing and farm shoring are not commonly used terms in the context of sourcing and are not relevant to this scenario.

Question 18

ICadbury Schweppes launched a 90-second television and cinema advertisement,which formed the centrepiece of the £6.2 million campaign for Cadbury Dairy Milk-brand chocolate.The campaign comprised of appearances on billboards,print newspapers and magazines,television and cinema spots,event sponsorships,and an internet presence.Which of the four Ps of marketing includes these activities?

Accepted Answer

The activities mentioned in the question such as appearances on billboards, print newspapers and magazines, television and cinema spots, event sponsorships, and an internet presence are all part of the promotion element of the marketing mix.

Question 19

Reverse innovation means designing a product for the home country and taking that innovation to a developing country.

Accepted Answer

Reverse innovation means designing a product in a developing country and then taking that innovation to developed countries.

Question 20

A cosmetic company manufactures and markets beauty and related products.It markets its products only via the internet.This is an example of (a):

Accepted Answer

A direct channel of distribution involves the company selling directly to the consumer without using any middlemen, such as retailers or wholesalers. Since the cosmetic company markets its products only via the internet, it is using a direct channel of distribution.

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