Question 1

Which of the following is not one of the forms of international marketing defined in the text?

Accepted Answer

The text includes the forms of international marketing as licensing, joint ventures, and wholly owned subsidiaries. Government-owned operations are not included as a form of international marketing in the given text.

Question 2

Which of the following statements is not true when describing international transactions?

Accepted Answer

The statement that "the international marketer recognises the changing nature of transactions but is not part of the exchange" is not true. International marketers are an integral part of international transactions and actively participate in them.

Question 3

By erecting barriers, charging tariffs, designing quotas and implementing other import regulations, governments have attempted to:

Accepted Answer

By erecting barriers, charging tariffs, designing quotas and implementing other import regulations, governments attempt to restrict the impact of global trade and financial flows. This is done in order to protect their domestic industries from foreign competition, safeguard local jobs, and improve their balance of trade.

Note: The other options are not relevant to the objectives of implementing import regulations.

Question 4

It has been proposed that markets that reflect a high degree of __________ with respect to marketing mix variables could be grouped into segments and thereby targeted with a largely __________ marketing strategy.

Accepted Answer

The statement suggests that markets with high homogeneity (similarity) in marketing mix variables can be segmented and targeted with a standardized marketing strategy. Option A, heterogeneity, is the opposite of homogeneity and therefore does not fit the description. Option B, differentiation, could imply that the variables are already diverse, making segmentation difficult, and stable does not align with the idea of targeting with a specific strategy. Option D, instability, implies that there is no consistency in variables, making segmentation impossible.

Question 5

The emergence of technology has created new markets for companies.Which of the following represents an example of this new market tendency?

Accepted Answer

The distribution of newspapers online is an example of how technology has created a new market for news media outlets. With more and more people accessing news online, newspapers have had to adapt and offer their content electronically to stay competitive. Options A, B, and D do not necessarily represent new markets created by technology, but rather new developments or changes within already-existing markets.

Question 6

Which country has had the most dramatic growth in exports in the period 1990-2004?

Accepted Answer

The answer of Which country has had the most dramatic...

Question 7

Firms and industries that are not participating in the world market:

Accepted Answer

The answer of Firms and industries that are not participating...

Question 8

__________________has long been the mantra in the marketing world.

Accepted Answer

The phrase "Think globally, act locally" means that while keeping in mind the global picture, an individual or a company should focus on executing their actions and strategies locally. This approach helps in creating a local impact while aligning with global goals. This concept has been widely used in the marketing world to create effective campaigns and messages for local audiences while keeping the global brand image intact.

Question 9

Generally, the strategic business unit (SBU)is the unit around which decisions are based.In practice, SBUs represent groupings organised around market similarities based on:

Accepted Answer

SBUs can be organised around market similarities based on various criteria, including the needs or wants to be met, the end-user customers to be targeted, and/or the product or service used to meet the needs of specific customers. Therefore, all of these choices are valid options for organising SBUs.

Question 10

All of the following are characteristics of the first stage of the global marketing evolution of a company, except:

Accepted Answer

The objective of the first stage of the global marketing evolution of a company is to achieve economies of scale, not economies of scope.

Question 11

In regards to Australian exporters, which of the following is incorrect?

Accepted Answer

According to the Department of Foreign Affairs and Trade, Australian SMEs are actually responsible for 58% of Australian exports, making statement D incorrect.

Question 12

Which of the following trading blocs does not exist?

Accepted Answer

Bilateral trade agreements between China and India are not a trading bloc. A trading bloc is a group of countries that have joined together to create a larger market for goods and services by eliminating or reducing trade barriers, such as tariffs and quotas, between the member countries. NAFTA, the European Union, and AFTA are all examples of trading blocs.

Question 13

A _________ is a local company that has assets that gives it a competitive advantage only in its home market.

Accepted Answer

A defender is a local company that has assets that gives it a competitive advantage only in its home market.

Question 14

Which of the following events helped identify global linkages, causing the world to realise that the systems of product development, distribution and consumption are intertwined and related?

Accepted Answer

The worldwide oil crisis of 1970 caused countries to realise their dependence on oil imports, and it highlighted the interconnectedness of global economies and supply chains. This event helped to identify global linkages and the interrelated systems of product development, distribution, and consumption.

Question 15

The marketing manager's task is to plan and execute programs that will ensure a long-term competitive advantage for the company.This includes determining of a specific target market and:

Accepted Answer

The answer of The marketing manager's task is to plan...

Question 16

One way to guard against market saturation of a product is to:

Accepted Answer

Lengthening or rejuvenating product life cycles in other countries can help guard against market saturation of a product. This allows the company to continue selling the product in other markets and maintain a steady stream of revenue, even if the product is no longer in high demand in one particular market. Lowering interest rates may encourage consumer spending, but it does not directly address market saturation. Delaying introduction of a new product or personalising the message may help with competition and differentiating the product, but it does not address the issue of market saturation.

Question 17

A ___________ is defined by its emphasis on a single industry segment, within which the orientation may be toward either low cost or differentiation.________ is characterised by a company offering products or services at a lower cost than the competition.A _____________ is industry-wide or focused on a single segment and takes advantage of the marketer's real or perceived uniqueness in elements such as design or after-sales service.

Accepted Answer

The first blank corresponds to the three generic strategies proposed by Porter, which are differentiation strategy, cost leadership, and focus strategy. The last blank corresponds to the types of focus strategies, which can be industry-wide or segment-focused. In this case, the company's focus strategy is based on its uniqueness in elements such as design or after-sales service, which corresponds to differentiation. Additionally, the company's emphasis is on a single industry segment, which corresponds to the focus strategy. Finally, the orientation may be toward either low cost or differentiation, and since the company is not focused on offering products or services at a lower cost than the competition, it is not a low-price leader, but rather a differentiator. Therefore, the best choice is C.

Question 18

Which of the following has traditionally been a domestic issue and is now an international issue?

Accepted Answer

Agriculture and farm policies affecting imports and exports have traditionally been a domestic issue, but with globalization and increased trade between countries, it has become an international issue. Countries now have to negotiate and navigate trade agreements and policies that impact the import and export of agricultural goods.

Question 19

____________refers to the capability of attracting and influencing all stakeholders, whether through energetic brands, heroic missions, distinctive talent development or an inspirational corporate culture.

Accepted Answer

The given definition refers to the concept of soft power, which focuses on using intangible factors such as attraction and influence to achieve goals rather than coercive or material means (hard power). Influential power and media power are not recognized concepts in this context.

Question 20

Traditionally, trade flow determined currency flows and therefore the level of the exchange rate.The exchange rate is now determined by:

Accepted Answer

Currency flows, which include investments, speculative transactions, and other financial movements, now play a primary role in determining exchange rates, rather than just trade flows.

Quiz 1: Introduction to international marketing