Exam 12: Global Marketing

When developing an international product mix, companies have four options to consider in marketing their products overseas: modify their products for different countries and regions, develop new products for foreign markets, incorporate all product differences into one design and develop a global product, or sell the same domestic product overseas.

Of the following, which is NOT one of the major methods that can be used to promote products and services in international markets?

The step in the new-product development process in which projections of potential revenues and profits for a potential new product are made is called _____.

In 2010, _____ had the world's highest GDP.

The practice of setting a price in a foreign market that undercuts the prices of competitive companies is referred to as dumping.

Differentiate between marketing research and marketing intelligence systems.

The three major markets within each foreign market that purchase products and services are: consumer markets, the industrial market, and the business market.

_______ refers to a price in a foreign market that undercuts the prices of companies competing there.

Agents for companies shipping products overseas who are chiefly involved with physical distribution activities and documentation are called freight forwarders.

______ refers to aspect of customer service that allows employees to take care of customer problems immediately without having to consult superiors.

Scenario - Bridgemont Industries Bridgemont Industries has operated on a global basis for over fifty years. It is one of the world's top rated producers of batteries and is renowned for having excellent products and outstanding customer service. In fact, the company is to receive a global award for its products and customer service expertise in the coming year. Bridgemont is very proud of its employees and acknowledges that without their experience the company would not be rated at the top. The top management has a special reward planned for each customer service representative that will be presented at the global award ceremony in June. Bridgemont feels it is only fair to share a portion of its profits with the ones who helped generate it. -Bridgemont is well versed in conducting operations in the foreign marketplace. All of the following except which one represent methods the company could use to market its products in the foreign market arena?

Contests and sweepstakes, coupons, end-aisle displays in stores, sponsorships, and trade shows are all examples of _____.

_______ is the price that an overseas market is willing to pay.

Nestle had success with its Maggi noodles in South Asia; subsequently they were introduced in Australia. Nestle is using a(n)_____ strategy.

_____ refers to the percentage of purchases in a category a buyer gives to one vendor.

The use of channels of distribution to market products and services to international markets refers to _______.

The international marketing manage has _____ major methods that can be used to promote products and services in international markets.

The total number of units of a product that could possibly be sold by all companies doing business in a specific international market is referred to as sales potential.

_____ is the total number of units of a product that could possibly be sold by all companies doing business in a specific international market.

Scenario - Atlantic Camera & Film Company The Atlantic Camera & Film Company has been in operation since the early 1970s. Since its inception in Detroit, Michigan, this company has risen to hold the 35ᵗʰ spot in the industry. Its reputation for excellent service and exemplary products has gained this company international recognition. Atlantic currently sells over two hundred product per week to customers from foreign nations. Atlantic's organizational leaders recently decided to begin more intense promotion of the company's products within the international marketplace. They realize this is a golden opportunity to move the company upward in ranking within the industry. While the company will maintain production within the boundaries of the United States, it plans to establish four distribution centers located around the world for its products. The plans include building a distribution site in South America, Europe, Asia, and the Middle East. -Operations in foreign markets are new to the Atlantic Camera & Film Company. While they have made sales within these markets before, the company has never had distribution points located within foreign borders. Which one of the following is least likely to be of high concern to the company as it begins this new endeavor?