Question 1

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:

Accepted Answer

The scenario described in the question refers to Reverse Innovation, which means creating products or services in emerging markets to cater to the needs of those markets but then bringing those concepts back to developed markets. The low-cost, low-fat dried noodles were developed for rural India and Pakistan, but they also found a market in Australia and New Zealand, making it a reverse innovation.

Question 2

_____ refers to buying raw materials, components, or services from two or more suppliers, rather than buying from one supplier exclusively.

Accepted Answer

Multisourcing refers to buying raw materials, components, or services from two or more suppliers, rather than buying from one supplier exclusively. This approach helps to reduce the risk of supply disruption and dependency on a single supplier.

Question 3

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

Accepted Answer

The answer of How is business-to-business marketing in emerging economies...

Question 4

What are the factors that decide the marketing mix of a company in a country?

Accepted Answer

The answer of What are the factors that decide the...

Question 5

_____ refers to setting up operations in a low-cost country for the purpose of hiring local workers at lower labor rates.

Accepted Answer

Offshoring refers to setting up operations in a low-cost country to take advantage of lower labor rates. This is typically done to reduce costs and increase profitability. It involves transferring jobs and tasks from a higher cost country to a lower cost country.

Question 6

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

Accepted Answer

The answer of What are the different types of tax...

Question 7

What are the advantages of the sole-sourcing strategy?

Accepted Answer

The answer of What are the advantages of the sole-sourcing...

Question 8

Which of the following statements holds true for demand management?

Accepted Answer

Demand management refers to the process of forecasting demand, setting prices based on the forecast, and segmenting customers based on their demand patterns. This process aims to ensure that the desired level of customer demand is met efficiently and effectively. Options B, C, D, and E refer to other processes related to supply chain management but not specifically to demand management.

Question 9

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

Accepted Answer

The answer of What are the advantages and the disadvantages...

Question 10

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

Accepted Answer

The answer of What are the advantages and disadvantages of...

Question 11

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:

Accepted Answer

This is an example of the country-of-origin effect, where the perception of the origin of a product influences consumer behavior and decision-making. In this case, the perception that Swiss watches are of higher quality than Chinese watches influences the employees' choice of the Swiss watch.

Question 12

Which of the following statements holds true for inventory management?

Accepted Answer

Inventory management refers to the process of managing the raw materials and finished goods, which includes controlling the levels of inventory, tracking inventory movements, restocking products, and managing the inventory system to ensure the availability of necessary products. Options A, B, D, and E are not related to inventory management.

Question 13

What are the disadvantages of the multisourcing strategy?

Accepted Answer

The answer of What are the disadvantages of the multisourcing...

Question 14

What is market segmentation?

Accepted Answer

The answer of What is market segmentation?...

Question 15

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

Accepted Answer

The answer of What are the distribution strategies followed by...

Question 16

One of the disadvantages of the _____ strategy of purchasing raw materials is that thesupplier has more negotiating power on price.

Accepted Answer

Sole-sourcing involves purchasing raw materials from a single supplier, which means the supplier has more negotiating power on price as there are no other options available to the buyer. This can result in higher costs for the buyer.

Question 17

What are the four Ps of marketing?

Accepted Answer

The answer of What are the four Ps of marketing?...

Question 18

_____ 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.

Accepted Answer

The term "outsourcing" refers to delegating an entire process that was previously performed in-house to an external vendor. Options A, B, C, and D do not fit the definition of outsourcing.

Question 19

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

Accepted Answer

The answer of Promotion has an impact on the other...

Question 20

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):

Accepted Answer

The scenario describes a centralized organizational structure where all decision-making power is centralized in the headquarters of the organization. The regional branches do not have the authority to make decisions regarding menu and recipe changes to suit local tastes and preferences.

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