Deck 1: Introduction to Global Marketing

Question 1

Multinational companies adhere to the notion that the products that succeed in the home country are superior and, therefore, can be sold everywhere without adaptation.

Answer 1

False

Question 2

Ethnocentric companies are sometimes referred to as global companies.

Answer 2

False

Question 3

A company's competitive advantage exists only in its price differentiation strategies.

Answer 3

False

Question 4

Global marketing requires marketers to behave in a way that is global and local at the same time by responding to similarities and differences in world markets.

Question 5

The old marketing concept focused on a customer-centric marketing approach.

Question 6

One difference between domestic marketing and global marketing is the scope of activities.

Question 7

Geocentric companies are based on a belief of home-country superiority.

Question 8

Global companies view world regions as unique and seek to develop an integrated regional strategy.

Question 9

Geocentric companies are integrated on a global scale.

Question 10

Marketing discipline varies from one region to another.

Question 11

A regiocentric manager views the world outside his area of interest with an ethnocentric orientation.

Question 12

Ethnocentric companies cater to the different needs of different world regions.

Question 13

A company engaging in global marketing must standardize all elements of the marketing mix everywhere in the world.

Question 14

Management vision is a driving force for global integration.

Question 15

The strategic concept of marketing focuses on customer satisfaction in a socially responsible and sustainable way.

Question 16

Marketers can always directly apply experience from one country to another or from one market to another.

Question 17

Market capitalization is defined as a company's total revenues in a given accounting period.

Question 18

A polycentric orientation is diametrically different from an ethnocentric orientation.

Question 19

Cost is a restraining force affecting globalization.

Question 20

A polycentric company views foreign operations as being secondary or subordinate to domestic operations.

Question 21

Which of the following management orientations views only the differences in the world regions?

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

Question 22

Which of the following statements is true about global marketing?

A) Marketing practices must vary between different market segments.
B) Customers and markets across regions are considered similar.
C) Transferring irrelevant experience between markets may be beneficial.
D) Marketing initiatives cannot include more than one marketing mix element.

Question 23

A company that sees only the similarities between the domestic and the world market is said to have a(n) ________ orientation.

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

Question 24

Trade agreements such as the European Union and NAFTA have decreased the pace of global integration.

Question 25

Government regulations on advertising and promotion are similar across all world countries.

Question 26

In a(n) ________ international company, foreign operations are viewed as being secondary or subordinate to domestic operations.

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

Question 27

Which of the following is a focus of the new concept of marketing?

A) Mmaking a profit is the only end result of selling products.
B) emphasizing the product rather than the end consumer
C) achieving objectives by pushing products toward consumers
D) using integrated marketing mix to achieve profits

Question 28

Levy Inc., a U.S.-based smartphone manufacturer, extends its line of high-end smartphones to the Asian market to capitalize on the high demands for smartphones. Owing to its huge success in the United States, Levy uses the same set of marketing mix in the Asian markets. In this case, the company's management orientation is referred to as ________.

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

Question 29

The time and cost barriers associated with distance have increased over the past decade.

Question 30

Which of the following statements is true of a polycentric company?

A) Its orientation is based on a belief in home-country superiority.
B) Its marketing management is decentralized.
C) It's generally referred to as a domestic company.
D) It views foreign operations as being secondary to domestic operations.

Question 31

Which of the following statements is true about the strategic concept of marketing?

A) Its objective is to maximize stakeholder benefits.
B) It has a product-centric marketing focus.
C) It emphasizes marketing from a company-centric paradigm.
D) Its focus is only on consumers and not their societies.

Question 32

Latour Boutiques, which is based in Europe, views each section within the European Union as a unique market and develops an integrated marketing strategy to sell its products. Due to its success in the European territory, Latour exports its products to other world markets sans any modifications. In this case, Latour's management orientation is typically ________.

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

Question 33

Which of the following management orientations provides a worldview and sees the similarities and differences in home and host countries?

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

Question 34

Which of the following is a marketing mix element?

A) profit
B) promotion
C) potential
D) package

Question 35

Countries protect local enterprise and interests by maintaining control over market access and entry.

Question 36

Most global markets do not exist in nature; they are created by marketing effort.

Question 37

A(n) ________ company typically has a regiocentric or geocentric management orientation.

A) multinational
B) transnational
C) domestic
D) international

Question 38

A global company can leverage its experiences in any market in the world.

Question 39

A domestic company will have many times the revenue of a global company as it focuses only on local regions.

Question 40

Which of the following statements best describes the phrase "global localization" in a nutshell?

A) A global product must be the same product everywhere without modifications in the marketing mix.
B) A global marketer must push local markets to accept global products.
C) A global marketer must adapt product marketing mix to the similarities and differences in the world market.
D) A global product must be a different product everywhere across the world regions.

Question 41

Which of the following is a restraining force behind global integration?

A) market needs
B) management vision
C) strategic intent
D) national controls

Question 42

Which of the following is a driving force for global integration?

A) domestic focus
B) market needs
C) market differences
D) national controls

Question 43

What are the differences between regiocentric and geocentric management orientation?

Question 44

A(n) ________ corporation tries to link world resources to world market opportunities.

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

Question 45

What are the new concept of marketing and the Four Ps?

Question 46

Which of the following orientations is based only on home-country superiority?

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

Question 47

What is the value equation? Identify its various components and explain how the equation relates to a company's pursuit of competitive advantage.

Question 48

Which of the following companies typically has a polycentric management orientation?

A) transnational
B) international
C) domestic
D) multinational

Question 49

Which of the following factors restrains ethnocentric companies from pursuing opportunities in the global market?

A) experience transfer
B) scale economies
C) global strategy
D) management myopia

Question 50

Which of the following companies is centralized in its market management strategies?

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