Deck 12: Global Marketing

Question 1

The three major markets within each foreign market that purchase products and services are: consumer markets, the industrial market, and the business market.

Answer 1

False

Question 2

_____ is frequently used as an overall measure of a nation's income; it represents the total purchasing power of a nation.

A) GDP
B) NLRB
C) PPP
D) PEP
E) CAB

Answer 2

A

Question 3

There are three major markets within each foreign market that can purchase products and services and needs to be analyzed: consumer markets, the industrial market, and _____ markets.

A) sales
B) environmental
C) government
D) gray
E) reverse

Answer 3

C

Question 4

Unauthorized importers reselling a manufacturer's product in the manufacturer's domestic market at a price less than what the manufacturer charges in that domestic market is referred to as blue marketing.

Question 5

The _____ market includes companies that purchase products and services such as equipment and machinery, supplies, lubricants, consulting services, cleaning services, advertising, and so on.

A) industrial
B) environmental
C) government
D) gray
E) consumer

Question 6

A company's international pricing mix involves consideration of four major objectives: performance objectives, prevention objectives, maintenance objectives, and survival objectives.

Question 7

The step in the new product development process in which projections of potential revenues and profits for a potential new product are made is referred to as concept testing.

Question 8

Increasingly, companies are finding that products originally developed for emerging markets cannot be ever sold in developed markets.

Question 9

The total number of units of a product that could possibly be sold by all companies doing business in a specific international market is referred to as sales potential.

Question 10

International marketing managers have four main methods of promoting products and services in international markets: advertising, personal selling, sales promotion, and distribution.

Question 11

A market that includes companies that purchase products and services such as equipment and machinery, supplies, lubricants, consulting services, cleaning services, advertising, marketing research, raw materials, semi-finished products, and so on is referred to as a consumer market.

Question 12

Two pricing strategies that will often trigger allegations of dumping is if the home-country firm sets a price in the foreign market below what it charges the domestic market or if the price is above what it domestically charges, but below the marginal cost to ship it overseas and sell it there.

Question 13

In 2010, _____ had the world's highest GDP.

A) Mexico
B) the United States
C) India
D) France
E) Brazil

Question 14

_____ potential refers to the total number of units of a product that could possibly be sold by all companies doing business in a specific international market.

A) Market
B) Sales
C) Vertical
D) Horizontal
E) Environmental

Question 15

Products that have not achieved company- established goals of sales, profit, and market share are primary candidates for reintroduction into the market place.

Question 16

Agents for companies shipping products overseas who are chiefly involved with physical distribution activities and documentation are called freight forwarders.

Question 17

A study analyzing why households have stopped purchasing a company's product would be an example of marketing research.

Question 18

When developing an international product mix, companies have four options to consider in marketing their products overseas: modify their products for different countries and regions, develop new products for foreign markets, incorporate all product differences into one design and develop a global product, or sell the same domestic product overseas.

Question 19

The practice of setting a price in a foreign market that undercuts the prices of competitive companies is referred to as dumping.

Question 20

The _____ market is likely to emphasize major infrastructure projects as well as health care services and military operations.

A) industrial
B) environmental
C) government
D) gray
E) consumer

Question 21

Of the following, which is NOT an option for companies to consider when marketing their products overseas?

A) Selling the same domestic product overseas
B) Modifying products for different countries and regions
C) Developing new products for foreign markets
D) Aligning with international companies and selling their products
E) Incorporating all product differences into one design and developing a global product

Question 22

Development of a new product first for emerging markets then selling it to developed markets is known as a(n)_____ strategy.

A) vertical
B) horizontal
C) backward
D) forward
E) reverse

Question 23

Nestle had success with its Maggi noodles in South Asia; subsequently they were introduced in Australia. Nestle is using a(n)_____ strategy.

A) vertical
B) horizontal
C) backward
D) forward
E) reverse

Question 24

An advantage of the _____strategy include is that it does not require an up-front investment.

A) indirect
B) direct
C) agent
D) public
E) distributor

Question 25

The step in the new-product development process in which projections of potential revenues and profits for a potential new product are made is called _____.

A) a global product
B) concept testing
C) business analysis
D) product development
E) vertical publication

Question 26

The international marketing manage has _____ major methods that can be used to promote products and services in international markets.

A) two
B) three
C) four
D) five
E) six

Question 27

The step in the new-product development process in which the new product idea is presented to a small sample of the international market to gauge its reaction is called _____.

A) a global product
B) concept testing
C) business analysis
D) product development
E) vertical publication

Question 28

What is the last step in the new-product development process?

A) A global product
B) Concept testing
C) Business analysis
D) Market testing
E) Commercialization

Question 29

A(n)_____ strategy refers to the use of channels of distribution to market products and services to international markets.

A) indirect
B) direct
C) agent
D) public
E) distributor

Question 30

Brazilians use doughnuts as a snack item whereas Americans tend to associate doughnuts with breakfast; electrical voltages differ in many countries than those that exist in the United States. In these instances, a firm would pursue a(n)_____ strategy.

A) standardization
B) adaptation
C) glocalization
D) marketing research
E) a global product system

Question 31

The marketing strategy which involves pursuing a standardization strategy in foreign markets when possible and an adaptation one when necessary is called_____.

A) standardization
B) adaptation
C) glocalization
D) marketing research
E) a global product system

Question 32

Of the following, which is NOT an advantage of locating R&D facilities in foreign countries?

A) The MNC can use the intelligence of foreign scientists and engineers.
B) New products developed overseas are more likely to be attuned to the company's overseas markets.
C) Often, the technology developed overseas can be transferred back to the home country.
D) It costs more to build R&D facilities overseas.
E) Products originally developed for emerging markets can be successfully sold in developed markets.

Question 33

Of the following, which is NOT one of the major methods that can be used to promote products and services in international markets?

A) Personal selling
B) Advertising
C) Sales promotion
D) Publicity
E) Distribution

Question 34

Storage and transportation operations that are used in moving products to a foreign market are called _____.

A) a freight back-warder
B) a freight forwarder
C) an agent
D) a public channel
E) physical distribution

Question 35

_____ collects information at one specific time in order to help marketers make better decisions about their overseas markets.

A) Business analysis
B) A concept test
C) Marketing research
D) A marketing intelligence system
E) A global product system

Question 36

In the _____ stage of the product life cycle, sales and profits rapidly increase and profits reach a maximum during the latter part of this stage.

A) maturity
B) growth
C) decline
D) introduction
E) commercialization

Question 37

A channel of distribution that purchases products from a company doing business in a foreign market and then resells them to other buyers is called a(n)_____.

A) freight back-warder
B) freight forwarder
C) agent
D) public channel
E) distributor

Question 38

In the _____ stage of the product life cycle, sales gradually increase, as do profits, which often are losses in the early part of this stage.

A) maturity
B) growth
C) decline
D) introduction
E) commercialization

Question 39

Executives at Mary Kay Cosmetics' European operations are conducting a study analyzing why households have stopped purchasing certain products. These executives are engaging in _____.

A) business analysis
B) a concept test
C) marketing research
D) a marketing intelligence system
E) a global product system

Question 40

Contests and sweepstakes, coupons, end-aisle displays in stores, sponsorships, and trade shows are all examples of _____.

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

Question 41

______ refers to information collected regularly over time

Question 42

Marketing strategies used in international markets by a company that are different from those used in its domestic market refers to ______.

Question 43

_____ objectives for international products and services include bottom-line goals such as net profit, return on investment, market share, and penetration.

A) Performance
B) Prevention
C) Maintenance
D) Survival
E) Growth

Question 44

_____ refers to a price in a foreign market that undercuts the prices of companies competing there.

A) Performance price
B) Product elimination
C) Containerization
D) Dumping
E) Gray marketing

Question 45

_____ refers to the percentage of purchases in a category a buyer gives to one vendor.

A) Performance price
B) Share of wallet
C) Containerization
D) Dumping
E) Gray marketing

Question 46

International shipments using different modes of transportation are called _____.

A) freight back-warders
B) freight forwarders
C) containerization
D) public channels
E) international transporters

Question 47

The percentage of a market potential that a specific company expects to sell in a specific international market refers to ______.

Question 48

A product that can be sold in most world markets is a _____.

Question 49

_____ refers to information collected at one particular time.

Question 50

_____ refers to performance of various aspects of customer service that meets customer expectations.

A) Reliability
B) Share of wallet
C) Containerization
D) Dumping
E) Gray marketing

Question 51

_____ is the step in the new product development process in which projections of potential revenues and profits for a potential new product are made.

Question 52

Agents for companies shipping products overseas who are chiefly involved with physical distribution activities and documentation are called _____.

A) freight back-warders
B) freight forwarders
C) agents
D) public channels
E) physical distributors

Question 53

Marketing strategies used in international markets by a company that are the same as those used in its domestic market refers to ______.

Question 54

Shipping products to overseas markets in trailer-sized containers are called _____.

A) freight back-warders
B) freight forwarders
C) containerization
D) public channels
E) physical distributors

Question 55

______ is the step in the new-product development process in which the new product idea is presented to a small sample of the international market to gauge their reaction.

Question 56

_____ is the step in the new-product development process in which a company will develop the marketing mix for a new product.

Question 57

The marketing strategy which involves pursuing a standardization strategy in foreign markets when possible and an adaptation one when necessary refers to ______.

Question 58

_____ is the total number of units of a product that could possibly be sold by all companies doing business in a specific international market.

Question 59

_____ refers to unauthorized importers reselling a manufacturer's product in the manufacturer's domestic market at a price less than what the manufacturer charges in that domestic market.

A) Performance price
B) Product elimination
C) Containerization
D) Dumping
E) Gray marketing

Question 60

_____ objectives include deterring scrutiny by home and host-country governments and deterring competition.

A) Performance
B) Prevention
C) Maintenance
D) Survival
E) Growth

Question 61

The development of a new product first for emerging markets then selling it to developed markets refers to _____.

Question 62

_____ are magazines that target specific industries.

Question 63

______ is the last step in the new-product development process in which the new product is manufactured, the marketing mix is finalized, and the product is introduced to the foreign market.

Question 64

The percentage of purchases in a category a buyer gives to one vendor is called ______.

Question 65

_______ refers to unauthorized importers reselling a manufacturer's product in the manufacturer's domestic market at a price less than what the manufacturer charges in that domestic market.

Question 66

_______ refers to a price in a foreign market that undercuts the prices of companies competing there.

Question 67

______ is the performance of various aspects of customer service that meets customer expectations.

Question 68

_______ is the price that an overseas market is willing to pay.

Question 69

Agents for companies shipping products overseas that are primarily involved with physical distribution activities and documentation, are _____.

Question 70

_____ are magazines that target a specific job in various industries.

Question 71

The use of channels of distribution to market products and services to international markets refers to _______.

Question 72

_______ is a formal, written procedure to determine which of a company's products should be dropped.

Question 73

_______ is the price a company charges its overseas subsidiaries.

Question 74

Storage and transportation operations that are used in moving products to a foreign market refers to _____.

Question 75

A depiction of the sales and profits for a new product over its life time is called the ______.

Question 76

Bypassing channels of distribution by using marketing and sales offices located in foreign countries refers to _______.

Question 77

A channel of distribution that purchases products from a company doing business in a foreign market and then resells them to other buyers refers to a(n)_______.

Question 78

International shipments using different modes of transportation refers to _____.

Question 79

A channel of distribution that represents a company in a foreign market and is paid by commission refers to a(n)_______.

Question 80

Shipping products to overseas markets in various-sized trailers is called _____.