Question 1

As a company's market share in a number of countries reaches a certain point, it becomes important for the company to defend its position vis-à-vis local competition.This is an example of _____________________ orientation.

Accepted Answer

This is an example of polycentric orientation, where a company recognizes and adapts to the importance of local markets and competition, tailoring its strategies to each country's specific conditions and needs.

Question 2

Responding to changes in the market and competitive environments by moving forward in a ______________ manner waits for others to formulate strategies before making decisions.

Accepted Answer

The correct answer is "reactive" because it describes a manner of responding to changes by waiting for others to act first before making decisions, rather than initiating change independently.

Question 3

A unique feature of international marketing is its ________________ orientation with emphasis on product and promotional adaptation in foreign markets.

Accepted Answer

Polycentric orientation in international marketing emphasizes adapting products and promotional strategies to fit the specific needs and preferences of each foreign market.

Question 4

_____________ is essentially a creative corporate activity involving the planning and execution of the conception, pricing, promotion, and distribution of ideas, products, and services in an exchange that not only satisfy customers' present needs but also anticipates and creates their future needs at a profit.

Accepted Answer

Marketing is the process that encompasses the planning, development, pricing, promotion, and distribution of products or services. It aims to meet and anticipate customer needs profitably, differentiating it from the other options which focus on more specific aspects of a business's operations.

Question 5

There are five identifiable stages in the evolution of marketing across national boundaries.The first stage is:

Accepted Answer

The first stage in the evolution of marketing across national boundaries is domestic marketing, where a company focuses on its home market before expanding internationally.

Question 6

Once export marketing becomes an integral part of a company's marketing activity, it will begin to seek new directions for growth and international expansion.This stage is called ________________________.

Accepted Answer

At this stage, the company is looking to expand its market reach beyond its home country, which is referred to as international marketing. This involves tailoring marketing strategies to fit the needs and preferences of foreign markets.

Question 7

Some companies progress to a more involved stage of internationalization by direct exporting, once three internal conditions are satisfied.Which of the following is not one of those conditions?

Accepted Answer

The ability of managers to speak a foreign language is not listed as one of the internal conditions necessary for a company to progress to direct exporting. The key conditions typically involve commitment of resources, favorable expectations about exporting, and access to necessary resources, rather than specific language skills of managers.

Question 8

Export marketers still tend to take a(n) ____________ approach to foreign markets.

Accepted Answer

Export marketers often adopt an ethnocentric approach, meaning they view their home country's culture as superior and tend to offer products or services abroad without significant adaptation to local markets.

Question 9

Companies often develop different marketing strategies depending on the degree of experience and __________.

Accepted Answer

The answer of Companies often develop different marketing strategies depending...

Question 10

Responding to changes in the market and competitive environments by moving forward in a ________________ manner anticipates changes and then formulates strategies.

Accepted Answer

A proactive manner involves anticipating changes and formulating strategies in advance, rather than reacting to events after they occur.

Question 11

Domestic marketers tend to be ________________.

Accepted Answer

Domestic marketers tend to be ethnocentric because they focus on their home country's market and often prioritize its products, values, and practices over those from other countries.

Question 12

Five types of marketing that have led to the evolution of global marketing are domestic marketing, export marketing, international marketing, multidomestic marketing, _________________, and global marketing.

Accepted Answer

Multinational marketing is the correct choice because it refers to the practice of tailoring products or marketing strategies to multiple countries, but with more integration and coordination than multidomestic marketing, fitting the progression towards global marketing.

Question 13

There are five identifiable stages in the evolution of marketing across national boundaries.The last stage is:

Accepted Answer

Global marketing is the last stage in the evolution of marketing across national boundaries, where companies treat the world as one market, minimizing the importance of national boundaries.

Question 14

The ________________ stage begins with unsolicited orders from foreign customers.

Accepted Answer

The export marketing stage begins when a company starts receiving unsolicited orders from foreign customers, indicating interest in the company's products from markets outside its home country. This stage is characterized by the company's initial efforts to fulfill these orders and potentially explore further opportunities in international markets.

Question 15

When a company focuses solely on its domestic market, this strategy is characterized as one employing:

Accepted Answer

When a company focuses solely on its domestic market, it is employing a domestic marketing strategy. This means the company is concentrating on selling its products or services within its own country, without seeking to expand or market internationally.

Question 16

Domestic marketing strategy is characterized as a strategy that is developed based on information about domestic customer needs and wants, economic, technological, and political environments at home, and ____________________.

Accepted Answer

The answer of Domestic marketing strategy is characterized as a...

Question 17

Firms that possess a global vision from their start engage in export sales immediately and even FDI as well as international alliances at an early stage of development are called what?

Accepted Answer

Firms that adopt a global vision from their inception and engage in international activities such as exporting, foreign direct investment (FDI), and international alliances early in their development are referred to as "Born Global."

Question 18

Marketing includes the entire company's:

Accepted Answer

Marketing encompasses the entire company's market orientation, focusing on understanding and meeting the needs and wants of its customers.

Question 19

Some companies progress from export marketing to a more involved stage of internationalization once:

Accepted Answer

A more involved stage of internationalization typically requires a commitment of adequate resources to export activities, indicating the company's readiness to deepen its engagement in international markets.

Question 20

Export marketing consists of:

Accepted Answer

Export marketing can involve both indirect and direct exporting. Indirect exporting means selling to an intermediary, who then sells your products abroad. Direct exporting involves selling directly to a buyer in another country.

Quiz 1: Globalization Imperative