Question 1

The American Customer Satisfaction Index (ACSI) focuses on

Accepted Answer

A)  differentiating a product based on its quality. 
B)  rating a company's quality based on its leadership, strategic planning, and customer and market focus. 
C)  the audit of a company's business processes in order to ensure quality. 
D)  quality as perceived by product and service users. 
E)  the creation of a quality control system that can meet published quality standards. 
A)  differentiating a product based on its quality. 
B)  rating a company's quality based on its leadership, strategic planning, and customer and market focus. 
C)  the audit of a company's business processes in order to ensure quality. 
D)  quality as perceived by product and service users. 
E)  the creation of a quality control system that can meet published quality standards.

Question 2

Firms that sell industrial goods in international markets should focus on after-sales services because these services

Accepted Answer

A)  are almost always more profitable than the actual sale of the goods themselves. 
B)  require high levels of investment in training and development. 
C)  ensure that the firm's goods are not liable to lawsuits. 
D)  cost the firm almost nothing. 
E)  cannot be outsourced to other companies and must be provided by the firm itself. 
A)  are almost always more profitable than the actual sale of the goods themselves. 
B)  require high levels of investment in training and development. 
C)  ensure that the firm's goods are not liable to lawsuits. 
D)  cost the firm almost nothing. 
E)  cannot be outsourced to other companies and must be provided by the firm itself.

Question 3

Good quality as interpreted by a highly industrialized market is the same as that interpreted by standards of a less industrialized nation.

Accepted Answer

A) True 
 B)False

Question 4

Derived demand can be defined as demand that is not dependent on another source.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following countries is not officially on the metric system?

Accepted Answer

A)  Liberia 
B)  Japan 
C)  Saudi Arabia 
D)  Mexico 
E)  China 
A)  Liberia 
B)  Japan 
C)  Saudi Arabia 
D)  Mexico 
E)  China

Question 6

What can be used as a measure to manage volatility in industrial demand?

Accepted Answer

A)  maintaining a narrow product line 
B)  reducing prices during booms 
C)  reducing advertising expenditures during booms 
D)  focusing on market share as a strategic goal 
E)  avoiding investment in foreign high-yield financial instruments 
A)  maintaining a narrow product line 
B)  reducing prices during booms 
C)  reducing advertising expenditures during booms 
D)  focusing on market share as a strategic goal 
E)  avoiding investment in foreign high-yield financial instruments

Question 7

An important dimension of quality is how well the product

Accepted Answer

A)  meets the specific needs of the buyer. 
B)  exceeds competitors' products. 
C)  conforms to manufacturer's specifications. 
D)  alters the marketing landscape. 
E)  saves time and labor. 
A)  meets the specific needs of the buyer. 
B)  exceeds competitors' products. 
C)  conforms to manufacturer's specifications. 
D)  alters the marketing landscape. 
E)  saves time and labor.

Question 8

For most consumer services firms, the mode of entry into a foreign market is licensing, franchising, strategic alliances, or direct. This is usually done because

Accepted Answer

A)  services are highly differentiated. 
B)  services produced cannot be added to inventory. 
C)  the creation and consumption of services cannot be separated. 
D)  the inputs used vary to a great extent. 
E)  services usually do not have any intrinsic value that can be converted into a tangible form. 
A)  services are highly differentiated. 
B)  services produced cannot be added to inventory. 
C)  the creation and consumption of services cannot be separated. 
D)  the inputs used vary to a great extent. 
E)  services usually do not have any intrinsic value that can be converted into a tangible form.

Question 9

In the case of cellular phones, the physical product is practically given away to gain the phone services contract. This could be because

Accepted Answer

A)  cellular phone companies do not view market share as a strategic goal. 
B)  the cost of production of cellular phones is very low. 
C)  the revenues from associated services exceed the revenues from the cellular phones. 
D)  the margins on after-sales services for cellular phones is low. 
E)  consumers sometimes buy a variety of services that are not associated with products. 
A)  cellular phone companies do not view market share as a strategic goal. 
B)  the cost of production of cellular phones is very low. 
C)  the revenues from associated services exceed the revenues from the cellular phones. 
D)  the margins on after-sales services for cellular phones is low. 
E)  consumers sometimes buy a variety of services that are not associated with products.

Question 10

What has become the primary vehicle for doing business in many foreign countries? Explain and justify your answer.

Accepted Answer

Trade shows and trade fairs have rapidly

Question 11

In Stage 1 (the traditional society) of Rostow's five-stage model of economic development, the most important industrial demand is labor.

Accepted Answer

A) True 
 B)False

Question 12

The lack of universal standards in the industrial goods market

Accepted Answer

A)  increases the price of raw materials. 
B)  gives each firm a competitive edge. 
C)  increases the level of consumer satisfaction. 
D)  reduces the price of the final goods. 
E)  increases the cost of doing business. 
A)  increases the price of raw materials. 
B)  gives each firm a competitive edge. 
C)  increases the level of consumer satisfaction. 
D)  reduces the price of the final goods. 
E)  increases the cost of doing business.

Question 13

The degree of economic development of a country can be used as a rough measure of the country's industrial market.

Accepted Answer

A) True 
 B)False

Question 14

Which trend will expand demand for industrial goods and business services in Latin America?

Accepted Answer

A)  the increase of import tariff by 70 percent 
B)  the adoption of Marxist-socialist policies 
C)  the privatization of state-owned enterprises 
D)  the increased use of labor in place of capital in production 
E)  the decline of economic growth in Asia 
A)  the increase of import tariff by 70 percent 
B)  the adoption of Marxist-socialist policies 
C)  the privatization of state-owned enterprises 
D)  the increased use of labor in place of capital in production 
E)  the decline of economic growth in Asia

Question 15

While countries have standards for products produced within its borders, there are no such standards that are applicable to imported goods.

Accepted Answer

A) True 
 B)False

Question 16

Industrial demand is unaffected by changes in consumer demand.

Accepted Answer

A) True 
 B)False

Question 17

In Stage 1 of Rostow's five-stage model of economic development,

Accepted Answer

A)  the economy is primarily driven by the production of services. 
B)  the most important industrial demand relates to natural resources extraction. 
C)  infrastructure development is a primary requirement in the economy. 
D)  manufacturing of both semidurable and nondurable consumer goods has begun. 
E)  the focus is on low-cost manufacturing of a variety of consumer and some industrial goods. 
A)  the economy is primarily driven by the production of services. 
B)  the most important industrial demand relates to natural resources extraction. 
C)  infrastructure development is a primary requirement in the economy. 
D)  manufacturing of both semidurable and nondurable consumer goods has begun. 
E)  the focus is on low-cost manufacturing of a variety of consumer and some industrial goods.

Question 18

If a country is in Stage 5 (the age of mass consumption) of Rostow's five-stage model of economic development, it purchases most of its highest-technology products and services from ________ suppliers.

Accepted Answer

A)  Stage 4 
B)  Stage 3 
C)  Stage 5 
D)  Stage 1 
E)  Stage 2 
A)  Stage 4 
B)  Stage 3 
C)  Stage 5 
D)  Stage 1 
E)  Stage 2

Question 19

Many suppliers are adopting ISO 9000 standards because

Accepted Answer

A)  they can acquire the certification at no extra cost. 
B)  governments mandate ISO certification for all product categories. 
C)  they want to be perceived as being environmentally friendly. 
D)  the WTO expects international suppliers to conform to ISO standards. 
E)  their buyers require them to be ISO 9000 registered. 
A)  they can acquire the certification at no extra cost. 
B)  governments mandate ISO certification for all product categories. 
C)  they want to be perceived as being environmentally friendly. 
D)  the WTO expects international suppliers to conform to ISO standards. 
E)  their buyers require them to be ISO 9000 registered.

Question 20

________ is rapidly becoming a major after-sales service when selling technical products in countries that demand the latest technology.

Accepted Answer

A)  Promotional pricing 
B)  Product innovation 
C)  Capacity utilization efficiency 
D)  Customer training 
E)  Warranty 
A)  Promotional pricing 
B)  Product innovation 
C)  Capacity utilization efficiency 
D)  Customer training 
E)  Warranty

The American Customer Satisfaction Index (ACSI) focuses on

Firms that sell industrial goods in international markets should focus on after-sales services because these services

Good quality as interpreted by a highly industrialized market is the same as that interpreted by standards of a less industrialized nation.

Derived demand can be defined as demand that is not dependent on another source.

Which of the following countries is not officially on the metric system?

What can be used as a measure to manage volatility in industrial demand?

An important dimension of quality is how well the product

For most consumer services firms, the mode of entry into a foreign market is licensing, franchising, strategic alliances, or direct. This is usually done because

In the case of cellular phones, the physical product is practically given away to gain the phone services contract. This could be because

What has become the primary vehicle for doing business in many foreign countries? Explain and justify your answer.

In Stage 1 (the traditional society) of Rostow's five-stage model of economic development, the most important industrial demand is labor.

The lack of universal standards in the industrial goods market

The degree of economic development of a country can be used as a rough measure of the country's industrial market.

Which trend will expand demand for industrial goods and business services in Latin America?

While countries have standards for products produced within its borders, there are no such standards that are applicable to imported goods.

Industrial demand is unaffected by changes in consumer demand.

In Stage 1 of Rostow's five-stage model of economic development,

If a country is in Stage 5 (the age of mass consumption) of Rostow's five-stage model of economic development, it purchases most of its highest-technology products and services from ________ suppliers.

Many suppliers are adopting ISO 9000 standards because

________ is rapidly becoming a major after-sales service when selling technical products in countries that demand the latest technology.

The Scope and Challenge of International Marketing

The Dynamic Environment of International Trade

History and Geography: the Foundations of Culture

Cultural Dynamics in Assessing Global Markets

Culture, Management Style, and Business Systems

The Political Environment: a Critical Concern

The International Legal Environment: Playing by the Rules

Developing a Global Vision Through Marketing Research

Economic Development and the Americas

Europe, Africa, and the Middle East

The Asia Pacific Region

Global Marketing Management: Planning and Organization

Products and Services for Consumers

International Marketing Channels

Integrated Marketing Communications and International Advertising

Personal Selling and Sales Management

Pricing for International Markets

Inventive Negotiations With International Customers, Partners, and Regulators

Filters

Exam 14: Products and Services for Businesses

The American Customer Satisfaction Index (ACSI) focuses on

Firms that sell industrial goods in international markets should focus on after-sales services because these services

Good quality as interpreted by a highly industrialized market is the same as that interpreted by standards of a less industrialized nation.

Derived demand can be defined as demand that is not dependent on another source.

Which of the following countries is not officially on the metric system?

What can be used as a measure to manage volatility in industrial demand?

An important dimension of quality is how well the product

For most consumer services firms, the mode of entry into a foreign market is licensing, franchising, strategic alliances, or direct. This is usually done because

In the case of cellular phones, the physical product is practically given away to gain the phone services contract. This could be because

What has become the primary vehicle for doing business in many foreign countries? Explain and justify your answer.

In Stage 1 (the traditional society) of Rostow's five-stage model of economic development, the most important industrial demand is labor.

The lack of universal standards in the industrial goods market

The degree of economic development of a country can be used as a rough measure of the country's industrial market.

Which trend will expand demand for industrial goods and business services in Latin America?

While countries have standards for products produced within its borders, there are no such standards that are applicable to imported goods.

Industrial demand is unaffected by changes in consumer demand.

In Stage 1 of Rostow's five-stage model of economic development,

If a country is in Stage 5 (the age of mass consumption) of Rostow's five-stage model of economic development, it purchases most of its highest-technology products and services from ________ suppliers.

Many suppliers are adopting ISO 9000 standards because

________ is rapidly becoming a major after-sales service when selling technical products in countries that demand the latest technology.

The Scope and Challenge of International Marketing

The Dynamic Environment of International Trade

History and Geography: the Foundations of Culture

Cultural Dynamics in Assessing Global Markets

Culture, Management Style, and Business Systems

The Political Environment: a Critical Concern

The International Legal Environment: Playing by the Rules

Developing a Global Vision Through Marketing Research

Economic Development and the Americas

Europe, Africa, and the Middle East

The Asia Pacific Region

Global Marketing Management: Planning and Organization

Products and Services for Consumers

International Marketing Channels

Integrated Marketing Communications and International Advertising

Personal Selling and Sales Management

Pricing for International Markets

Inventive Negotiations With International Customers, Partners, and Regulators

Filters