Question 1

A company that succeeds in global marketing:
A)pursues a "one size fits all" strategy by creating identical products for homogeneous markets.
B)customizes special products for each world country or region.
C)creates both standardized and localized elements.
D)nurtures an ethnocentric management orientation.
E)uses localized products only.

Accepted Answer

C) A successful global marketing strategy involves creating both standardized and localized elements. This approach allows a company to benefit from the economies of scale of standardization while also catering to local tastes and preferences.

Question 2

U.S.President Donald Trump's "America First" agenda is just one example of the way some nations are retreating into protectionism and isolation.

Accepted Answer

The "America First" agenda, promoted by former U.S. President Donald Trump, prioritizes American interests and industries, often advocating for policies that reduce international trade and cooperation in favor of domestic production and labor, which is a form of protectionism.

Question 3

The dimensions of global marketing strategy include all of the following except:
A)concentration of marketing activities.
B)development of cultural activities.
C)coordination of marketing activities.
D)integration of competitive moves.
E)integration of marketing mix.

Accepted Answer

The dimensions of global marketing strategy typically focus on aspects directly related to marketing such as concentration, coordination, and integration of marketing activities and competitive moves. Development of cultural activities, while important in understanding markets, is not considered a direct dimension of global marketing strategy.

Question 4

The success of Uniqlo's retail stores can be attributed to its decision to:
A)remain in Japan.
B)locate in high population density areas.
C)locate in low population density areas.
D)manufacture most of their products in Japan.
E)become the world's number one apparel retailer.

Accepted Answer

Uniqlo strategically locates its stores in high population density areas to ensure a high volume of foot traffic and potential customers, contributing significantly to its retail success.

Question 5

Launching of Burberry Acoustic to enhance advocacy and sharing via social media and online channels is an example of which marketing mix element?
A)product
B)price
C)promotion
D)place
E)people

Accepted Answer

Launching Burberry Acoustic to enhance advocacy and sharing via social media and online channels is an example of the promotion element of the marketing mix. This initiative is aimed at promoting the brand and its products through engaging content and leveraging online platforms for wider reach and engagement.

Question 6

The former chairman of Nestlé recently told an interviewer: "We are food and beverages.We are not running bicycle shops.Even in food,we are not in all fields.There are certain areas we do not touch.Also,we have no soft drinks because I have said we either buy Coca-Cola or we leave it alone." What strategic marketing principle does the chairman's comment emphasize most specifically?
A)customer value
B)competitive advantage
C)focus
D)myopia
E)policy of dealing only with Swiss businesses

Accepted Answer

The chairman's comment emphasizes the principle of focus, highlighting the importance of concentrating on specific areas of business where the company can excel and choosing not to engage in markets or products that do not align with their strategic goals or strengths.

Question 7

Coke's worldwide success is based on:
A)adaptation of the marketing mix.
B)standardization of the marketing mix.
C)selected elements of the marketing mix.
D)using local sales force and vending machines.
E)using existing local infrastructure.

Accepted Answer

Coke's worldwide success is based on the adaptation of the marketing mix to local markets.

Question 8

Nike recently adopted the slogan "Here I am" for its pan-European clothing advertising targeting women.The decision to drop the famous "Just do it" tag line was based on the research indicating that:
A)the famous slogan did not have accurate translation in European languages.
B)Europeans do not like tag lines that portray American thinking.
C)college-age women in Europe are not as competitive about sports as men are.
D)the old slogan conveys superiority of men over women.
E)European women want to differentiate themselves from men.

Accepted Answer

C) Research indicated that college-age women in Europe are not as competitive about sports as men, leading Nike to adopt a new slogan that might resonate better with this demographic.

Question 9

An important managerial task in global marketing is learning to recognize the extent to which it is possible to extend marketing plans as well as the extent to which adaptation is desired.The way a company addresses this task is a reflection of the company's:
A)market penetration.
B)market diversification.
C)global marketing strategy.
D)product development.
E)product standardization.

Accepted Answer

The way a company decides to extend its marketing plans or adapt them for different markets reflects its global marketing strategy. This involves determining how to approach various markets around the world, balancing standardization with customization to meet local needs and preferences.

Question 10

The transformation of formerly local or national industries into global ones is part of a broader economic process of globalization.

Accepted Answer

This transformation is a key aspect of globalization, which involves the increasing interconnection and interdependence of the world's markets and businesses.

Question 11

Nonmonetary costs do not factor into the equation of value,which is represented by the equation Value = Benefits\Price.

Accepted Answer

Nonmonetary costs, such as time, effort, and opportunity costs, do factor into the equation of value. The equation of value considers both monetary and nonmonetary aspects to determine the overall worth or value of a product or service to a consumer.

Question 12

When a company succeeds in creating more value for customers than its competitors do,that company is said to enjoy competitive advantage.

Accepted Answer

Competitive advantage occurs when a company achieves higher profit margins than its competitors by delivering greater value to customers, either through lower prices or by providing more benefits that justify higher prices.

Question 13

Explain,with examples,the benefits of competitive advantage and show how globalization presents companies with unprecedented opportunities.

Accepted Answer

The answer of Explain,with examples,the benefits of competitive advantage and...

Question 14

The National Football League (NFL)promotes American football in the United Kingdom by draping banners every fall over London's Regent Street to create awareness of the games.

Accepted Answer

The NFL promotes American football in the United Kingdom by hosting games in London and engaging in various promotional activities, including draping banners over Regent Street, to create awareness and excitement for the sport.

Question 15

Burberry's global marketing strategy of offering "affordable luxury" to customers in the United States,with a value proposition of being more expensive than Coach and less expensive than Prada represents a focus on:
A)product.
B)price.
C)promotion.
D)position.
E)place.

Accepted Answer

Burberry's global marketing strategy focuses on price, as it positions itself as more expensive than Coach and less expensive than Prada.

Question 16

Companies that fail to formulate adequate responses to the challenges and opportunities of globalization will face all of the following consequences except:
A)getting absorbed by visionary enterprises.
B)getting absorbed by dynamic enterprises.
C)becoming locally profitable enterprises.
D)undergoing wrenching transformations.
E)simply disappearing from the business horizon.

Accepted Answer

Companies that fail to adapt to globalization are at risk of being absorbed by more dynamic or visionary enterprises, undergoing significant transformations, or disappearing altogether. However, becoming locally profitable is not typically a consequence of failing to address globalization challenges; it's more likely a strategy for those who choose to focus on local markets successfully.

Question 17

The way a company addresses the global marketing strategy (GMS)includes all of the following except:
A)global market participation.
B)integration of inflationary moves.
C)integration of competitive moves.
D)coordination of marketing activities.
E)concentration of marketing activities.

Accepted Answer

Integration of inflationary moves is not a typical component of a global marketing strategy. Global marketing strategies usually focus on market participation, competitive moves, and the coordination and concentration of marketing activities across different markets.

Question 18

A disproportionate amount of wealth has flowed to the "have nots" and "have yachts," with much going to the "have nots."

Accepted Answer

The phrase suggests a disparity in wealth distribution, typically indicating that a significant portion of wealth has gone to the extremely wealthy ("have yachts") rather than being evenly distributed or significantly benefiting the less wealthy ("have nots").

Question 19

Marco Gobetti,who took over as Burberry's CEO in 2017,faces a number of new challenges including the declining of department store shopping in the United States.

Accepted Answer

Marco Gobetti, who became CEO of Burberry in 2017, indeed faced several challenges, including the decline of department store shopping in the United States, which impacted luxury brands and their traditional retail distribution channels.

Question 20

Tang drink powder became a $1 billion brand as regional managers in the Middle East added popular flavors like mango and pineapple.

Accepted Answer

Tang drink powder's popularity and sales significantly increased in the Middle East after regional managers introduced flavors like mango and pineapple, which were well-received in the local markets, contributing to its growth into a $1 billion brand.

Quiz 1: Introduction to Global Marketing

A company that succeeds in global marketing:

U.S.President Donald Trump's "America First" agenda is just one example of the way some nations are retreating into protectionism and isolation.

The dimensions of global marketing strategy include all of the following except:

The success of Uniqlo's retail stores can be attributed to its decision to:

Launching of Burberry Acoustic to enhance advocacy and sharing via social media and online channels is an example of which marketing mix element?

Coke's worldwide success is based on:

Nike recently adopted the slogan "Here I am" for its pan-European clothing advertising targeting women.The decision to drop the famous "Just do it" tag line was based on the research indicating that:

An important managerial task in global marketing is learning to recognize the extent to which it is possible to extend marketing plans as well as the extent to which adaptation is desired.The way a company addresses this task is a reflection of the company's: