Question 1

What are the advantages of the sole-sourcing strategy?

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Question 2

An Australian brand develops low-cost, low-fat dried noodles for rural India and Pakistan.The same product finds a market in Australia and New Zealand as a healthy and budget-friendly alternative for campers.The above serves as an example of:
A)reverse factoring.
B)reverse brain drain.
C)reverse proxy.
D)reverse engineering.
E)reverse innovation.

Accepted Answer

Reverse innovation occurs when a product developed in a developing country or for emerging markets finds a market in developed countries, often with adaptations or as a solution to different problems. In this case, the low-cost, low-fat dried noodles were initially developed for rural India and Pakistan but later found a market in Australia and New Zealand as a healthy, budget-friendly option for campers.

Question 3

Which of the following statements holds true for inventory management?
A)It refers to the process of forecasting, pricing, and customer segmentation.
B)It refers to the process of purchasing, supplier selection, and supplier-base rationalization.
C)It refers to the process of managing raw materials and finished goods.
D)It refers to the process of aggregate planning, workforce scheduling, and factory operations.
E)It refers to the process of establishing the facility location and formulating a distribution strategy.

Accepted Answer

Inventory management primarily involves the process of managing raw materials, work-in-process (WIP) inventory, and finished goods from point of origin to point of consumption.

Question 4

Which of the following statements holds true for demand management?
A)It refers to the process of forecasting, pricing, and customer segmentation.
B)It refers to the process of purchasing, supplier selection, and supplier-base rationalization.
C)It refers to the process of managing raw materials and finished goods.
D)It refers to the process of aggregate planning, workforce scheduling, and factory operations.
E)It refers to the process of establishing the facility location and formulating a distribution strategy.

Accepted Answer

Demand management encompasses forecasting, pricing, and customer segmentation to align production and service levels with consumer demand.

Question 5

An organization headquartered in the United States owns a chain of restaurants all across the world.People in different countries have varied culinary preferences.The restaurant needs to change its menu and recipes to suit local tastes and preferences.The decision to make these changes (or not)is taken only by the U.S.headquarters, and not by the regional branches of the organization.The above serves as an example of a(n):
A)decentralized organizational structure.
B)reverse engineering.
C)centralized organizational structure.
D)reverse innovation.
E)open-sourcing.

Accepted Answer

The decision-making process being described is centralized, meaning all major decisions are made by a central authority or headquarters, in this case, the U.S. headquarters, without delegating power to regional branches.

Question 6

What are the different types of tax evasion practices used in the international market?

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Question 7

_____ refers to setting up operations in a low-cost country for the purpose of hiring local workers at lower labor rates.
A)Open-sourcing
B)Offshoring
C)In sourcing
D)Home sourcing
E)Onshoring

Accepted Answer

Offshoring refers to the practice of moving business operations to a foreign country to take advantage of lower labor costs, among other benefits.

Question 8

Promotion has an impact on the other Ps of marketing.Explain.

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Question 9

What are the distribution strategies followed by organizations for entering a new market?

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Question 10

What are the four Ps of marketing?

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Question 11

_____ refers to a situation where the company delegates an entire process (such as accounts payable)that was previously performed in-house, to an external vendor.
A)Open-sourcing
B)Multisourcing
C)Sole-sourcing
D)Home sourcing
E)Outsourcing

Accepted Answer

Outsourcing is the practice of hiring an external organization to perform services or create goods that were traditionally performed in-house by the company's own employees and staff.

Question 12

_____ refers to buying raw materials, components, or services from two or more suppliers, rather than buying from one supplier exclusively.
A)Open-sourcing
B)Multisourcing
C)Sole-sourcing
D)Home sourcing
E)Outsourcing

Accepted Answer

Multisourcing refers to the practice of purchasing goods or services from multiple suppliers rather than relying on a single supplier. This approach can reduce risk and dependency on one supplier, potentially leading to better prices and quality.

Question 13

One of the disadvantages of the _____ strategy of purchasing raw materials is that thesupplier has more negotiating power on price.
A)open-sourcing
B)multisourcing
C)sole-sourcing
D)home sourcing
E)in sourcing

Accepted Answer

Sole-sourcing strategy involves relying on a single supplier for raw materials, which can give that supplier more negotiating power over prices due to the lack of alternative sources for the buyer.

Question 14

What are the disadvantages of the multisourcing strategy?

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Question 15

What are the advantages and the disadvantages of having a centralized-marketing organizational structure?

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Question 16

What are the advantages and disadvantages of creating a global brand?

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Question 17

An organization decides to gift high-end watches to its senior employees for completing 25 years in the organization.They are asked to choose between a high-end watch made in Switzerland and a similar high-end watch made in China.Most people choose the Swiss watch.They do not know if these particular Swiss watches are indeed better than the Chinese ones but there is a general perception that no one makes watches better than the Swiss.The above serves as an example of:
A)hierarchy of effects.
B)cohort effect.
C)temporal effect.
D)country-of-origin effect.
E)product-extension effect.

Accepted Answer

The scenario illustrates the country-of-origin effect, where consumers' perceptions and preferences are influenced by the country where a product is made. In this case, the preference for Swiss watches over Chinese ones is based on the reputation of Switzerland for making high-quality watches, regardless of the actual quality of the specific watches in question.

Question 18

What are the factors based on which a company's marketing mix will vary for different countries?

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Question 19

How is business-to-business marketing in emerging economies different from that in the developed economies?

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Question 20

What is market segmentation?

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Quiz 14: Competing Effectively Through Global Marketing, Distribution, and Supply-Chain Management

What are the advantages of the sole-sourcing strategy?

An Australian brand develops low-cost, low-fat dried noodles for rural India and Pakistan.The same product finds a market in Australia and New Zealand as a healthy and budget-friendly alternative for campers.The above serves as an example of:

Which of the following statements holds true for inventory management?

Which of the following statements holds true for demand management?