Deck 1: Understanding Global Markets and Marketing

Question 1

Within the EPRG framework,a global marketer who orients a marketing strategy to the European Union exhibits a(n)_____________ orientation.

A) ethnocentric
B) regiocentric
C) polycentric
D) geocentric

Answer 1

B
Explanation: This variable would deal with cultural as opposed to regional issues.

Question 2

Because of expanded demand for a country's products and the free movement of investment,technology,and know-how globalization has not experienced any negative publicity.

Answer 2

False
Explanation: Globalization has in fact become quite controversial in recent years due to issues regarding labor conditions and many others.

Question 3

During the next six months,Greta and Abdul will be researching markets in the European Union for their line of interactive flat screen televisions.They will next identify which country in the region should be their target and determine what method they will use to enter it,and with what product marketing strategies.In short,Greta and Abdul are implementing __________.

A) global operations
B) the global marketing framework
C) a strategic plan
D) global outsourcing

Answer 3

B
Explanation: Operations implies a step in implementation as opposed to implementing a marketing framework.

Question 4

The three activities included in the global marketing framework are:

A) assessment, strategy development, and marketing mix construction.
B) economic, political, and cultural development.
C) the Internet, e-commerce, and digital communication.
D) gaining market share, capturing prospective customers, and retaining new customers.

Question 5

A global marketing approach requires that a firm attend to all of the following EXCEPT ___________.

A) coordinate and integrate production, marketing, and other functions across countries
B) develop strategies on a country by country basis
C) focus efforts world-wide
D) optimize resources and reduce costs

Question 6

Within the EPRG framework,firms that believe their domestic strategies are superior to foreign strategies and thus leverage their domestic strategy in all global markets are considered to have a(n)________________ orientation.

A) geocentric
B) ethnocentric
C) polycentric
D) regiocentric

Question 7

The Cage Distance Framework suggests that the distance between countries can be measured along four dimensions.These include:

A) cultural, administrative, geographic, and economic
B) cultural, administrative, geographic, and environmental
C) climate, administrative, geographic, and ethnicity
D) culture, agreements, geography, and economy

Question 8

Creating value by some form of company-customer interaction at the fabrication/assembly stage of the operations level to create customized products with production cost and monetary price similar to those of mass-produced products defines ___________ .

A) customer relationship marketing
B) mass customization
C) customized marketing
D) mass production

Question 9

A completely standardized marketing mix is common among global companies.

Question 10

Shakeena's Canadian firm has just entered into an arrangement to distribute upscale handbags and accessories to retailers and consumers in Taiwan.While research indicates that her product's designs are compatible with other fashion-oriented items sold in Taiwan,she is still concerned.She perceives that the differences in culture between Canada and Taiwan are so significant that they will prevent a successful marketing effort.Shakeena is struggling with the phenomenon of ________________.

A) cultural distance
B) psychic distance
C) multinational distance
D) actual distance

Question 11

The EPRG framework proposes four orientations by which a firm's foreign market operations are managed.These include:

A) environment, population, commerce, and geography
B) exports, purchases, resources, and goals
C) ethnocentric, polycentric, regiocentric, and geocentric
D) earnings, profits, revenues, and goals

Question 12

The global marketer who confidently proclaims,"The world is my market!" has a(n)________________ orientation according to the EPRG framework.

A) geocentric
B) polycentric
C) regiocentric
D) ethnocentric

Question 13

Within the EPRG framework,global firms whose strategies differ significantly from country to country are likely operating with a(n)________________ orientation.

A) geocentric
B) regiocentric
C) polycentric
D) ethnocentric

Question 14

All of these are benefits to standardized marketing strategies on a global basis EXCEPT___________.

A) uniformity of product design
B) lowered R&D costs
C) the ability to discretely address local market needs
D) economies of scale in production and marketing

Question 15

The process of interaction and integration among people,companies,and governments of many nations is known as__________________.

A) multinational marketing
B) social networking
C) e-commerce
D) globalization

Question 16

The term 'global village' refers to the fact that people who are physically separated by time and space are interconnected by electronic media.

Question 17

Because regional,integrated markets like the EU have brought us further towards a borderless world,consumer motivations and preferences across markets have become very much the same.

Question 18

Most people around the world have positive attitudes toward globalization.

Question 19

Attaining worldwide coordination,rationalization,and integration of all marketing activities is the specific objective of __________________.

A) the World Trade Organization
B) regional and integrated markets such as NAFTA
C) global marketing
D) global markets

Question 20

An overall decline in worldwide population growth contributes to all of the following EXCEPT:

A) increased pension payments
B) an aging population
C) changes in work patterns
D) greater pressure on the planet's resources

Question 21

Cross-subsidization is applicable when firms can benefit from sharing costs and/or revenues.

Question 22

All of these are considered external drivers of global marketing strategy except ______________________.

A) international experience
B) economy
C) culture
D) political-legal systems

Question 23

The difference between the total value (the price the consumer is willing to pay)and the cost of performing all the activities in the value chain is referred to as __________.

A) profit
B) margin
C) value differential
D) value system

Question 24

In a global marketing system,there is a growing spatial dispersion of activities that comprise a value chain.

Question 25

The ability to look into the future; the capacity to visualize the image that the company is seeking to create on a world-wide basis is known as ________________.

A) a mission statement
B) global vision
C) strategic vision
D) foreign mission

Question 26

Dell's famous "build-to-order" model that facilitated its rise to dominance in the PC industry is an example of successful consumer goods customization.

Question 27

The Booz Allen Hamilton consulting firm found that firms having the highest rates of R&D spending as a percentage of sales are more likely than other companies in their industries to achieve superior gross margins.

Question 28

All of these elements are considered internal drivers of global marketing strategy except ___________________.

A) global vision
B) financing
C) international experience
D) culture

Question 29

A Nescafe commercial airing in Chile would convey the same promotional message if run in France.

Question 30

New products launched and revenue from new products/total turnover are elements of the ______________ measurement of marketing performance.

A) innovation
B) market
C) consumer
D) financial

Question 31

The sequence of activities required to make a product or provide a service is known as a ______________.

A) chain of command
B) value chain
C) competitive advantage
D) modus operandi (M.O.)

Question 32

While market and consumer oriented metrics measure overall firm performance,financial outcomes are better indicators of marketing success.

Question 33

If products are standardized,then all accompanying elements of the marketing mix can be standardized as well.

Question 34

All of these are consumer measures of marketing performance except _______________.

A) brand equity
B) purchase intention
C) market share
D) brand recognition

Question 35

Secondary value chain activities include all of these elements except __________.

A) after sales support
B) human resources
C) technology development
D) procurement

Question 36

The concept of customization views each consumer as ______________.

A) unaffected by cultural differences
B) price-driven
C) a member of an undifferentiated market
D) an individual market segment

Question 37

Longer waiting times for customized products,longer searching times for retail outlets and higher prices are challenges inherent in _______________.

A) customization
B) standardization
C) mass production
D) team production

Question 38

Inbound logistics,marketing and sales,and operations are all considered elements of __________________.

A) service and after sales support
B) research and development
C) secondary value chain activities
D) primary value chain activities

Question 39

The major tools by which a global value chain is managed are ___________________ and ___________________.

A) configuration, coordination
B) research, development
C) sales, service
D) shipping, receiving