Deck 9: Emerging Markets

Question 1

The United States economy from 1950 to the present has been described as one where the primary orientation is marketing.

Answer 1

True

Question 2

Countries begin to lose economic development ground when their infrastructure cannot support an expanding population and economy.

Answer 2

True

Question 3

The expansion of military interventions around the world is one of the factors changing the way countries trade and prosper in the 21st century.

Answer 3

False

Question 4

An entrepreneurial commercial society is based on agriculture and raw materials production and has achieved a level of surplus where the surplus can be sold.

Question 5

One of the factors that exists that helps a NIC (newly industrializing country)to experience economic growth is economic and legal reforms.

Question 6

The beginning stage of the marketing process is called manufacturing.

Question 7

A good illustration of a MDC (more-developed country)is Peru.

Question 8

With respect to marketing in a developing country,a marketing program cannot superimpose a sophisticated strategy but must be keyed to each situation and provide for optimum utility given a specific set of circumstances.

Question 9

Industrialization is the fundamental objective of most developing countries.

Question 10

Countries characterized as being industrially underdeveloped,agrarian,a subsistence society with rural populations,an extremely low per capita income level,and has little world trade involvement,the country would be classified as a LDC (less-developed country).

Question 11

If modern and traditional sectors within a country's economy coexist alongside one another,the correct term for this phenomenon would be bi-economic.

Question 12

The standard for making profit is the single most important environmental element to which the foreign marketer must adjust the marketing task.

Question 13

Miles (or kilometers)of roads,rail lines,numbers of vehicles,mobile phones,and personal computers are indicators of a country's external market structure.

Question 14

With respect to the United Nations' stages of economic development,the most advanced stage is one described as industrialized countries with high per capita incomes.

Question 15

Examples of infrastructure include automobiles,bicycles,motorcycles,and motorboats.

Question 16

The current level of economic development within a country dictates the kind and degree of market potential that exists.

Question 17

One of the "Four Tigers" of Southeast Asia is South Korea.

Question 18

In the United Nations' stages of economic development,the first group is MDCs (more-developed countries).

Question 19

The transfer of public-sector enterprises to the private sector creates opportunities for international marketers.

Question 20

Capital development is generally understood to mean an increase in national production results that increase in the average per capita gross domestic product.

Question 21

Countries that are experiencing rapid economic expansion and industrialization and do not exactly fit as LDCs or MDCs are typically referred to as:

A)LLDCs (least-developed countries)
B)KDCs (kinetically-developing countries)
C)PDCs (parallel-developed countries)
D)NICs (newly industrialized countries)
E)RGCs (rapid-growth countries)

Question 22

A key to economic development in Eastern Europe has been the ability to adopt advertising techniques used in the West.

Question 23

Considering the United Nations' stages of economic development presented in the text for classifying countries with respect to levels of industrialization,if a country is an industrially developing country just entering world trade with relatively low per capita income,the country is in which of the following groups?

A)PDCs (parallel-developed countries)
B)LLDCs (least-developed countries)
C)LDCs (less-developed countries)
D)NICs (newly industrialized countries)
E)MDCs (more-developed countries)

Question 24

Consumers in countries with low per capita incomes show remarkable resourcefulness in finding ways to buy what really matters to them.

Question 25

Which of the following is NOT one of the factors changing the way countries trade and prosper in the twenty-first century?

A)The transition from socialist to market-driven economies.
B)Liberalization of trade and investment policies in developing countries.
C)The transfer of public-sector enterprises to the private sector.
D)The rapid development of regional market alliances.
E)The expansion of military interventions around the world.

Question 26

The "Four Tigers" are represented by Hong Kong,South Korea,Singapore,and Taiwan.

Question 27

___________ development is generally understood to mean an increase in national production that results in an increase in the average per capita gross domestic product (GDP).

A)Market
B)Export
C)Import
D)Economic
E)Supply

Question 28

What is occurring in the BEMs is analogous to the situation after World War II when tremendous demand was created during the reconstruction of Europe.

Question 29

Mexico,China,and Turkey are considered to be BEM (Big Emerging Markets)countries.

Question 30

The current level of economic development within a country:

A)determines the economic models to be used in countries' universities and colleges.
B)solidifies the mindset of the economic minister of any country to be traded with.
C)dictates the kind and degree of market potential that exists.
D)constrains the ability to exchange currency.
E)indicates its degree of social progress.

Question 31

The leisure consumption of Japan is approximately three times as great as the leisure consumption of Brazil.

Question 32

In formal terms,Hong Kong is listed as a SAR (special administrative region)of China.

Question 33

_____________,as commonly defined today,tends to mean rapid economic growth and increases in consumer demand.

A)Economic development
B)Market development
C)Supply development
D)Export development
E)Import development

Question 34

The __________ level of a country is the single most important environmental element to which the foreign marketer must adjust the marketing task.

A)political stability
B)entrepreneurial
C)economic
D)technology
E)literacy

Question 35

Considering the United Nations' stages of economic development presented in the text for classifying countries with respect to levels of industrialization,if a country is industrially underdeveloped,agrarian,subsistence society with rural populations,extremely low per capita income levels,the country is in which of the following groups?

A)PDCs (parallel-developed countries)
B)LLDCs (least-developed countries)
C)LDCs (less-developed countries)
D)NICs (newly industrialized countries)
E)RGCs (rapid-growth countries)

Question 36

Considering the United Nations' stages of economic development presented in the text for classifying countries with respect to levels of industrialization,if a country is an industrialized country with high per capita income,the country is in which of the following groups?

A)PDCs (parallel-developed countries)
B)LLDCs (least-developed countries)
C)MDCs (more-developed countries)
D)NICs (newly industrialized countries)
E)RGCs (rapid-growth countries)

Question 37

__________ classifies a country's stage of economic development as three categories of its level of industrialization.

A)The U.S.Department of Commerce
B)John Maynard Keynes
C)Arthur Laffer
D)The United Nations
E)The World Trade Organization

Question 38

The United Nations stages of economic development has been criticized because it __________.

A)no longer seems relevant in the rapidly industrializing world
B)accepts contributions from more developed countries
C)duplicates the European Union stages of economic development
D)contains too many categories
E)serves as a resource for the World Bank

Question 39

Big emerging markets share common traits.One of the traits common to BEMs is that they have significant populations.

Question 40

South America has been the fastest-growing area in the world for the past three decades.

Question 41

If a NIC (newly industrializing country)had the characteristic of increasing the production for the domestic market and export markets with increases in efficiencies and continual differentiation of exports from competition as its focus,the country would be using which of the following factors as a component for growth?

A)economic and legal reforms
B)privatization
C)an outward orientation
D)entrepreneurship
E)factors of production

Question 42

__________ is an economy's arbitrator between productive capacity and consumer demand.

A)Management
B)Marketing
C)Public relations
D)Operations procedures
E)Economics

Question 43

The IT revolution is not limited to broad,long-range economic goals but can have an almost immediate impact on the __________ of an emerging country.

A)poorest inhabitants
B)export trade
C)per capita GNP
D)international visibility
E)tourism

Question 44

Countries begin to lose economic development ground when their ___________ cannot support an expanding population and economy.

A)source remediation technology
B)infrastructure
C)cultural arts
D)statistical discrepancy accounting
E)currency conversion ratio

Question 45

Which of the following countries WOULD NOT be classified as one of the "Four Tigers" of Southeast Asia?

A)South Korea
B)Taiwan
C)the Philippines
D)Hong Kong
E)Singapore

Question 46

The Internet facilitates ________________,a fundamental underpinning for economic development.

A)psychological dialogue
B)anthropological change
C)social cohesiveness
D)political ideas
E)education

Question 47

According to information presented in the text,Chile,Brazil,Mexico,and South Korea don't exactly fit as MDCs (more-developed countries)or LDCs (less-developed countries).A new category applies to these countries.Which of the following would be most appropriate?

A)LLDCs (least-developed countries)
B)KDCs (kinetically-developing countries)
C)PDCs (parallel-developed countries)
D)NICs (newly industrialized countries)
E)RGCs (rapid-growth countries)

Question 48

Estimating demand potential in less-developed countries involves myriad challenges.Most of the difficulty arises from the __________.

A)coexistence of three distinct kinds of markets in each country.
B)problems of collecting reliable market data.
C)superimposition of sophisticated marketing strategies.
D)high currency rate of exchange.
E)lack of rural electric power.

Question 49

These four countries began their industrialization as assemblers of products for U.S.and Japanese companites.

A)Argentina,India,Vietnam,and Poland
B)Turkey,Brazil,Columbia,and Mexico
C)South Africa,China,South Korea,and Hong Kong
D)Spain,Kenya,Singapore,and Taiwan
E)South Korea,Taiwan,Hong Kong,and Singapore

Question 50

Most newly industrialized countries (NICs)have moved away from restrictive trade practices and instituted significant free market reforms.As a result these countries have:

A)attracted both trade and foreign direct investment.
B)overcome environmental damages caused by lack of development.
C)reduced population pressures through labor outsourcing.
D)joined the United Nations' economic development referral council.
E)taken measures to protect their cultures and traditions.

Question 51

The level of market development roughly parallels the stages of:

A)the product life cycle.
B)the adoption curve.
C)a production cycle.
D)marketing mix application.
E)economic development.

Question 52

Which of the following would be characterized as being the fundamental objective of most developing countries?

A)Entrepreneurship
B)Industrialization
C)Conservation of resources
D)Enabling a strong home land defense force
E)Establishing a strong agricultural system

Question 53

When countries sell off state-owned enterprises,it usually results in a:

A)surge in domestic savings to spend.
B)decline in productivity throughout the private sector.
C)release of capital to invest elsewhere.
D)change in political leadership which often reduces social tension.
E)increase in unemployment rate.

Question 54

According to a case made by the text,economic planners with a national goal of growth should be more concerned with the efficiency of __________ than with the other choices mentioned.

A)production
B)investment
C)finance
D)distribution
E)advertising

Question 55

The Internet accelerated the process of economic growth by speeding up the diffusion of ____________ to emerging economies.

A)political propaganda
B)cell phones
C)PDAs
D)new technologies
E)simulated consumption

Question 56

Economic planners are often more ___________ oriented than __________ oriented.

A)production;marketing
B)private;public
C)profit;policy
D)system;subject
E)logistically;symbolically

Question 57

Which of the following countries would carry the label MDC (more-developed countries)?

A)Canada
B)England
C)France
D)Germany
E)all of the above

Question 58

Countries classified LLDC (least-developed countries)would be industrially underdeveloped,agrarian,subsistence societies with rural populations,extremely low per capita income levels,and would have _____________ world trade involvement.

A)only petroleum products
B)significant
C)little
D)substantial
E)service-oriented

Question 59

All of the following factors are cited as being reasons that NICs (newly industrializing countries)have had such remarkable success EXCEPT:

A)political stability.
B)economic and legal reforms.
C)development of mass media advertising.
D)outward orientation.
E)entrepreneurship.

Question 60

Paved roads,railroads,and energy supplies are illustrations of a country's:

A)supply system.
B)labor support system.
C)infrastructure.
D)extrastructure.
E)microenvironment.

Question 61

All of the following are categories in Exhibit 9.4,Consumption Patterns in Selected Countries EXCEPT __________.

A)Food
B)Clothing
C)Taxes
D)Transportation
E)Leisure

Question 62

__________ of many developing countries are simultaneously at many stages.

A)Automobile technology
B)Marketing structures
C)Technical education
D)Social structures
E)Financial agencies

Question 63

Miles Daniels has heard that if his company is to succeed in Asia it must be willing to trade with one or more of the Four Tigers.All of the following are part of the group of countries known as the Four Tigers EXCEPT:

A)Hong Kong.
B)South Korea.
C)Australia.
D)Singapore.
E)Taiwan.

Question 64

Of the former Soviet bloc nations of Eastern Europe,the Czech Republic seems to be doing the best in reshaping itself in terms of:

A)returning to pre-occupation political and market structures.
B)offering alternative economic development to Asian partners.
C)adapting to realigned Russian economic partnerships.
D)adopting a model of privatization,free market system and capitalism
E)the transition from capitalism to socialism.

Question 65

If a market is characterized as being physically large,has significant population,is a regional economic driver,and has undertaken significant programs of economic reform,the market is classified as a(n):

A)cottage industry market.
B)less developed market.
C)entrepreneurial market.
D)agrarian market.
E)big emerging market.

Question 66

The text describes China as having a dual economic system.This refers to China's _______________ and _______________ tenets.

A)market-driven;supply-side driven
B)egalitarian;unitarian
C)socialist;capitalist
D)aristocratic;democratic
E)internal;external

Question 67

Which of the following best characterizes the United States today with respect to the evolution of the marketing process?

A)mass production
B)commercial--transition
C)cottage industry
D)surplus commodity product
E)mass distribution

Question 68

According to the text,which of the following countries may warrant inclusion as a BEM (big emerging country)?

A)Poland
B)Brazil
C)Guatemala
D)Mexico
E)Venezuela

Question 69

Big emerging markets (BEMs)share a number of important traits.All of the following would be among those traits EXCEPT:

A)they principally export labor and raw resources.
B)they are all physically large.
C)they have significant populations.
D)they are "regional economic drivers."
E)they are of major political importance within their regions.

Question 70

Morris Mayer has found it difficult to accurately estimate market potential in Mexico.He has observed that while Mexico has had rapid technological growth and production that can certainly be classified as modern,it also has certain traditional sectors in the rural parts of the country that are at best primitive.This situation is best described as one arising from the __________.

A)coexistence of three distinct kinds of markets in each country.
B)problems of collecting reliable market data.
C)superimposition of sophisticated marketing strategies.
D)high currency rate of exchange.
E)lack of rural electric powering one of economic.

Question 71

According to the text,of the Baltic States,Estonia has made the most of its split from the former Soviet Union and exceeds its neighbors in production and economic reform because Estonia did all of the following EXCEPT:

A)established domestic export controls.
B)dropped the ruble as its currency.
C)privatized companies and land.
D)let struggling banks fail.
E)adopted a free trade policy.

Question 72

The former Soviet-controlled Eastern European countries that did not move to market economies:

A)permitted Western experts to run their economies for them.
B)have experienced the fastest rates of economic growth in the region.
C)substituted domestic capital for foreign investment.
D)permitted bureaucrats from communist days to delay and derail reforms.
E)adhered to the principles of Soviet-style state-controlled economies.

Question 73

What is happening in BEMs today is analogous to what happened in:

A)Saudi Arabia in the 1800s.
B)India during the British Empire period.
C)Russia after the fall of the czar.
D)Europe after World War II.
E)no prior happening;it is unique in economic development history.

Question 74

The companies that invest in developing markets _______________ will benefit in the future.

A)when it is difficult and initially unprofitable
B)after the process of growth has begun
C)where there are many competitors
D)at the request of the poorest citizens
E)assume high risks and gamble that they

Question 75

According to the evolution of the marketing process,mass production first came to the United States during which of the following time periods?

A)1885-1914
B)1776-1785
C)1805-1830
D)1915-1929
E)1950-present

Question 76

The rule of governing law that most accurately describes the relationship between Hong Kong and China is:

A)"let the buyer beware."
B)"he who has the might makes the right."
C)"trade will not supersede the people."
D)"communist wealth."
E)"one country,two systems."

Question 77

If a country was primarily dominated by nomadic or hunting tribes,which of the following stages of the marketing process would most likely be used to describe the country?

A)marketing
B)regionalism
C)manufacturing
D)agricultural and raw materials
E)entrepreneurship

Question 78

With respect to the evolution of the marketing process,which of the following stages would be considered to be the most fundamental stage (first stage)of the process?

A)marketing
B)regionalism
C)manufacturing
D)agricultural and raw materials
E)entrepreneurship

Question 79

In the language of international marketing,BEM stands for:

A)business,e-commerce,and marketing.
B)business units and economic models.
C)big emerging markets.
D)bilingual economic microcosms.
E)bilateral enhanced marketing.

Question 80

With respect to the evolution of the marketing process,the United States is best characterized today as to its primary orientation as being a nation whose focus is on:

A)entrepreneurial/commercial.
B)entrepreneurial/financial.
C)production and finance.
D)marketing.
E)public relations and advertising.