Question 1

Backward invention occurs when a firm ________.

Accepted Answer

A)  creates a new product to meet a need in another country 
B)  reintroduces earlier product forms adapted to suit another country's needs 
C)  invents products that are similar to competing offerings 
D)  takes an existing product into a new market 
E)  produces its own raw materials 
A)  creates a new product to meet a need in another country 
B)  reintroduces earlier product forms adapted to suit another country's needs 
C)  invents products that are similar to competing offerings 
D)  takes an existing product into a new market 
E)  produces its own raw materials B

Question 2

Indirect exports have two advantages for a firm: they involve less investment and ________.

Accepted Answer

A)  less paperwork 
B)  less intrusion by the government 
C)  less risk 
D)  less competition 
E)  less customer suits 
A)  less paperwork 
B)  less intrusion by the government 
C)  less risk 
D)  less competition 
E)  less customer suits C

Question 3

Most brands are adapted to some extent to reflect significant differences in consumer behavior,brand development,competitive forces,and the legal or political environment.Identify the five international product and communication strategies available to firms that expand their businesses to foreign countries.

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Question 3

Correct Answer:

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The five international product and communication strategies are as follows:

Accepted Answer

The five international product and communication strategies are as follows:

Question 4

Which of the following statements is true about licensing?

Accepted Answer

A)  It is one of the most complex ways to engage in international marketing. 
B)  The licensor gains entry into the new market at low risk. 
C)  The licensee has no access to proprietary information. 
D)  The licensee receives a fee or royalty. 
E)  The only benefit for a licensee is the production expertise it gains. 
A)  It is one of the most complex ways to engage in international marketing. 
B)  The licensor gains entry into the new market at low risk. 
C)  The licensee has no access to proprietary information. 
D)  The licensee receives a fee or royalty. 
E)  The only benefit for a licensee is the production expertise it gains.

Question 5

Straight extension means using an established product's brand name for a new item in the same product category.

Accepted Answer

A) True 
 B)False

Question 6

The impact of country of origin is independent of the type of product.

Accepted Answer

A) True 
 B)False

Question 7

A waterfall approach to entering foreign markets is described as entering countries simultaneously.

Accepted Answer

A) True 
 B)False

Question 8

As required levels of distribution increase,so do customer prices relative to the importer's price.

Accepted Answer

A) True 
 B)False

Question 9

The New Zealand Way program was an initiative by the government of New Zealand to raise awareness and attract tourists by showing the dramatic landscapes featured in "The Lord of the Rings" film trilogy.This is an example of a government trying to strengthen its ________.

Accepted Answer

A)  country-of-origin perceptions 
B)  international subsidiaries 
C)  internationalization 
D)  contract manufacturing 
E)  distributor relationships 
A)  country-of-origin perceptions 
B)  international subsidiaries 
C)  internationalization 
D)  contract manufacturing 
E)  distributor relationships

Question 10

When innovation at Siemens enables the company to offer solutions that can make generation of hydroelectricity more environment-friendly,the company will want to reap the benefits of being the first to introduce such a product across countries.In this case,which of the following approaches is likely to be the best approach to entering foreign markets?

Accepted Answer

A)  the rifle approach 
B)  the continuous approach 
C)  the born global approach 
D)  the sprinkler approach 
E)  the waterfall approach 
A)  the rifle approach 
B)  the continuous approach 
C)  the born global approach 
D)  the sprinkler approach 
E)  the waterfall approach

Question 11

Your firm has decided to enter the international market with your product called "Trema," a new pocket organizer that can also be used as a cell phone.While discussing the marketing plans,your CMO decides that no changes will be necessary in either the marketing mix or the product for export.What form of marketing strategy is the CMO advocating?

Accepted Answer

A)  distributive marketing mix 
B)  leveraged marketing mix 
C)  adapted marketing mix 
D)  engineering-driven marketing mix 
E)  standardized marketing mix 
A)  distributive marketing mix 
B)  leveraged marketing mix 
C)  adapted marketing mix 
D)  engineering-driven marketing mix 
E)  standardized marketing mix

Question 12

Name the three choices that companies have for setting prices in different countries.

Accepted Answer

Companies have three choices f

Question 13

The use of media may require international adaptation because media availability varies from country to country.

Accepted Answer

A) True 
 B)False

Question 14

Companies enter the international market only when their domestic markets are saturated.

Accepted Answer

A) True 
 B)False

Question 15

The main disadvantage of direct investment is that the firm loses access to the market in case the government of that country insists locally purchased goods have domestic content.

Accepted Answer

A) True 
 B)False

Question 16

Explain the country-of-origin effect.

Accepted Answer

Country-of-origin perceptions are the me

Question 17

A company that is planning to go global must decide on how many countries to enter and how fast to expand.A company's entry strategy typically follows one of two possible approaches.What are those approaches?

Accepted Answer

The approaches are a waterfall approach

Question 18

When first-mover advantage is crucial and a high degree of competitive intensity prevails,the ________ approach is better.

Accepted Answer

A)  waterfall 
B)  born global 
C)  rifle 
D)  sprinkler 
E)  franchisee 
A)  waterfall 
B)  born global 
C)  rifle 
D)  sprinkler 
E)  franchisee

Question 19

Forces promoting national responsiveness include ________.

Accepted Answer

A)  strong local preferences 
B)  homogeneous demand 
C)  strong global preferences 
D)  strong consumer liking towards foreign goods 
E)  capital-intensive production 
A)  strong local preferences 
B)  homogeneous demand 
C)  strong global preferences 
D)  strong consumer liking towards foreign goods 
E)  capital-intensive production

Question 20

As people in developing countries often prefer to buy in smaller quantities,________ is one of the most important functions of intermediaries in developing countries and helps perpetuate the long channels of distribution,which are a major obstacle to the expansion of retailing.

Accepted Answer

A)  product adaptation 
B)  breaking bulk 
C)  diversification 
D)  transfer pricing 
E)  dual adaptation 
A)  product adaptation 
B)  breaking bulk 
C)  diversification 
D)  transfer pricing 
E)  dual adaptation

Backward invention occurs when a firm ________.

Indirect exports have two advantages for a firm: they involve less investment and ________.

Which of the following statements is true about licensing?

Straight extension means using an established product's brand name for a new item in the same product category.

The impact of country of origin is independent of the type of product.

A waterfall approach to entering foreign markets is described as entering countries simultaneously.

As required levels of distribution increase,so do customer prices relative to the importer's price.

The New Zealand Way program was an initiative by the government of New Zealand to raise awareness and attract tourists by showing the dramatic landscapes featured in "The Lord of the Rings" film trilogy.This is an example of a government trying to strengthen its ________.

Name the three choices that companies have for setting prices in different countries.

The use of media may require international adaptation because media availability varies from country to country.

Companies enter the international market only when their domestic markets are saturated.

The main disadvantage of direct investment is that the firm loses access to the market in case the government of that country insists locally purchased goods have domestic content.

Explain the country-of-origin effect.

A company that is planning to go global must decide on how many countries to enter and how fast to expand.A company's entry strategy typically follows one of two possible approaches.What are those approaches?

When first-mover advantage is crucial and a high degree of competitive intensity prevails,the ________ approach is better.

Forces promoting national responsiveness include ________.

As people in developing countries often prefer to buy in smaller quantities,________ is one of the most important functions of intermediaries in developing countries and helps perpetuate the long channels of distribution,which are a major obstacle to the expansion of retailing.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Creating Long-term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning and Competing Effectively

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

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Exam 18: Managing Marketing in the Global Economy

Backward invention occurs when a firm ________.

Indirect exports have two advantages for a firm: they involve less investment and ________.

Which of the following statements is true about licensing?

Straight extension means using an established product's brand name for a new item in the same product category.

The impact of country of origin is independent of the type of product.

A waterfall approach to entering foreign markets is described as entering countries simultaneously.

As required levels of distribution increase,so do customer prices relative to the importer's price.

The New Zealand Way program was an initiative by the government of New Zealand to raise awareness and attract tourists by showing the dramatic landscapes featured in "The Lord of the Rings" film trilogy.This is an example of a government trying to strengthen its ________.

Name the three choices that companies have for setting prices in different countries.

The use of media may require international adaptation because media availability varies from country to country.

Companies enter the international market only when their domestic markets are saturated.

The main disadvantage of direct investment is that the firm loses access to the market in case the government of that country insists locally purchased goods have domestic content.

Explain the country-of-origin effect.

A company that is planning to go global must decide on how many countries to enter and how fast to expand.A company's entry strategy typically follows one of two possible approaches.What are those approaches?

When first-mover advantage is crucial and a high degree of competitive intensity prevails,the ________ approach is better.

Forces promoting national responsiveness include ________.

As people in developing countries often prefer to buy in smaller quantities,________ is one of the most important functions of intermediaries in developing countries and helps perpetuate the long channels of distribution,which are a major obstacle to the expansion of retailing.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Creating Long-term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning and Competing Effectively

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Filters