Exam 16: International Marketing

Promotion primarily involves ________.

The ethnocentric approach to standardization versus customization is the most difficult to achieve.

Which element of the marketing mix includes devising ways to enhance the desirability of the product or service to potential buyers?

Toyota operates a manufacturing facility in Georgetown, Kentucky. To build goodwill, Toyota provides grants to local charities, funds college scholarships to graduating high school students, and sponsors local youth sports teams. This is an example of ________.

Promotion is the most culture bound of the four Ps.

Which of the following is a tangible component of a product?

________ is the process of getting products and services from the firm into the hands of customers.

It is important for a firm to adopt an international marketing strategy that supports the firm's overall business strategy.

What are some of the advantages of personal selling for an international firm?

How are the ethnocentric approach and the geocentric approach alike and different in regards to the marketing mix? Why do most international firms following a geocentric approach use a standard price policy?

Under a ________ price policy, the firm sets one price for all its domestic sales and a second price for all its international sales.

A firm that follows an ethnocentric approach to marketing standardizes the marketing mix based on the ________.

Most firms avoid both complete standardization and complete customization.

Which of the following is an advantage of using personal selling in international marketing?

Which element of the marketing mix includes the development of the tangible and intangible features that meet customer needs in diverse markets?

Participating in international trade shows can be a good first step for firms beginning the internationalization process.

Marketing managers at Unique Home Furnishings strive to develop products, pricing strategies, promotional strategies, and distribution tactics that set the firm's products apart from those of competitors in the eyes of customers. Unique Home Furnishings has cultivated an image of perceived quality and fashion that allows the firm to charge prices higher than most furniture businesses. What is the overall business strategy of Unique Home Furnishings?

What role does an international firm's distribution strategy play in its promotion strategy? Provide examples for illustration.

Personal selling is popular in international firms because it is a relatively low-cost strategy.

Both the ethnocentric and geocentric approaches to international marketing advocate the concept of ________.