Question 1

Indirect export has two advantages for the firm.First in involves less investment for the firm and secondly it ________.

Accepted Answer

A)  involves less paperwork 
B)  involves less intrusion by the government 
C)  involves less risk 
D)  involves fewer people to manage the process 
E)  involves fewer products and product lines 
A)  involves less paperwork 
B)  involves less intrusion by the government 
C)  involves less risk 
D)  involves fewer people to manage the process 
E)  involves fewer products and product lines

Question 2

Straight extension of the product means ________.

Accepted Answer

A)  introducing the product to the foreign market without any changes to the product 
B)  introducing the product to the foreign market without major changes to the product 
C)  introducing the product to the foreign market with major changes to the product 
D)  introducing the product to the foreign market with no major marketing program 
E)  not introducing the product to the foreign market until changes have been made 
A)  introducing the product to the foreign market without any changes to the product 
B)  introducing the product to the foreign market without major changes to the product 
C)  introducing the product to the foreign market with major changes to the product 
D)  introducing the product to the foreign market with no major marketing program 
E)  not introducing the product to the foreign market until changes have been made

Question 3

Product adaptation alters the product to meet local conditions or preferences.Identify four levels of adaptation.

Accepted Answer

There are several levels of ad

Question 4

Before making a decision to enter foreign markets,the firm must weigh several risks.List these risks.

Accepted Answer

These risks are: (1)The company might no

Question 5

Although India's recent explosive economic growth has significantly expanded the market for Western goods,many challenges still exist for Western marketers there.Name a few of these challenges.

Accepted Answer

India still struggles with poor infrastr

Question 6

Discuss three disadvantages of standardizing the marketing mix worldwide.

Accepted Answer

Standardizing the marketing mix (1)ignor

Question 7

A small firm has decided to enter the international market.At the present time,the firm has decided to enter only one country.What is the next step in the decision-making process if the firm is to continue with its plans

Accepted Answer

A)  Deciding on the marketing organization 
B)  Deciding on the marketing program 
C)  Deciding how to enter the market 
D)  Deciding whether to go abroad 
E)  Deciding which markets to enter 
A)  Deciding on the marketing organization 
B)  Deciding on the marketing program 
C)  Deciding how to enter the market 
D)  Deciding whether to go abroad 
E)  Deciding which markets to enter

Question 8

Regional economic integration-the creation of trading agreements between blocs of countries-has intensified in recent years.

Accepted Answer

A) True 
 B)False

Question 9

Major decisions to enter the international marketplace and to conduct international marketing do not include deciding on how to enter the market.

Accepted Answer

A) True 
 B)False

Question 10

Discuss three advantages of standardizing the marketing mix worldwide.

Accepted Answer

Standardizing the marketing mix (1)helps

Question 11

Straight extension means introducing the product in the foreign market without any changes to the brand.

Accepted Answer

A) True 
 B)False

Question 12

The ultimate form of foreign investment is direct ownership of foreign-based assembly or manufacturing facilities.Briefly describe the advantages to ownership.

Accepted Answer

In direct investment,the firm: (1)secure

Question 13

According to Hofstede,cultures with low power distance are best described as ________.

Accepted Answer

A)  dominated by assertive individuals 
B)  hierarchical 
C)  egalitarian 
D)  risk-averse 
E)  risk-tolerant 
A)  dominated by assertive individuals 
B)  hierarchical 
C)  egalitarian 
D)  risk-averse 
E)  risk-tolerant

Question 14

Most companies would prefer to enter the international marketplace because their national markets are too small for continued growth.

Accepted Answer

A) True 
 B)False

Question 15

When deciding where to operate internationally,it often makes sense to operate in fewer countries,with a deeper commitment and penetration in each.Identify the three criteria that companies prefer countries meet to be viable alternatives for entry.

Accepted Answer

In general,a company prefers t

Question 16

A company can carry on direct exporting in several ways. A traveling export sales representative is ________.

Accepted Answer

A)  a home-based sales representative that travels abroad to find business 
B)  a distributor or agent who holds limited or exclusive rights to represent the company in that country 
C)  a sales branch in the foreign country that handles sales and distribution there 
D)  a home-based department that manages exporting 
E)  none of the above 
A)  a home-based sales representative that travels abroad to find business 
B)  a distributor or agent who holds limited or exclusive rights to represent the company in that country 
C)  a sales branch in the foreign country that handles sales and distribution there 
D)  a home-based department that manages exporting 
E)  none of the above

Question 17

In a waterfall approach to international expansion,________.

Accepted Answer

A)  countries are gradually entered sequentially 
B)  countries in which the demand for the product is greatest are entered first 
C)  countries in which the demand for the product is greatest are entered last 
D)  countries in which the supply of raw material is greatest are entered first 
E)  countries are entered based upon ease of entry 
A)  countries are gradually entered sequentially 
B)  countries in which the demand for the product is greatest are entered first 
C)  countries in which the demand for the product is greatest are entered last 
D)  countries in which the supply of raw material is greatest are entered first 
E)  countries are entered based upon ease of entry

Question 18

The internationalization process has four stages.These stages include ________.

Accepted Answer

A)  no regular export activities 
B)  export via independent representatives (agents) 
C)  establishment of one or more sales subsidiaries 
D)  establishment of production facilities abroad 
E)  All are part of the internationalization process. 
A)  no regular export activities 
B)  export via independent representatives (agents) 
C)  establishment of one or more sales subsidiaries 
D)  establishment of production facilities abroad 
E)  All are part of the internationalization process.

Question 19

The price escalation problem exists for multinationals and varies from country to country; the question is: How should prices be set in different countries Companies have three choices.One is to set a uniform price everywhere.Another is to set a market-based price in each country.Finally,companies can ________.

Accepted Answer

A)  set a final "cost plus" price in each country 
B)  set a cost-based price in each country 
C)  let the market dictate price/country 
D)  vary the price/market/country on a daily basis to reflect consumer demand 
E)  set the transfer price at marginal costs equal to marginal revenue 
A)  set a final "cost plus" price in each country 
B)  set a cost-based price in each country 
C)  let the market dictate price/country 
D)  vary the price/market/country on a daily basis to reflect consumer demand 
E)  set the transfer price at marginal costs equal to marginal revenue

Question 20

Define the gray market.

Accepted Answer

The gray market consists of br

Exam 21: Tapping into Global Markets

Indirect export has two advantages for the firm.First in involves less investment for the firm and secondly it ________.

Straight extension of the product means ________.

Product adaptation alters the product to meet local conditions or preferences.Identify four levels of adaptation.

Before making a decision to enter foreign markets,the firm must weigh several risks.List these risks.

Although India's recent explosive economic growth has significantly expanded the market for Western goods,many challenges still exist for Western marketers there.Name a few of these challenges.

Discuss three disadvantages of standardizing the marketing mix worldwide.

A small firm has decided to enter the international market.At the present time,the firm has decided to enter only one country.What is the next step in the decision-making process if the firm is to continue with its plans

Regional economic integration-the creation of trading agreements between blocs of countries-has intensified in recent years.

Major decisions to enter the international marketplace and to conduct international marketing do not include deciding on how to enter the market.

Discuss three advantages of standardizing the marketing mix worldwide.

Straight extension means introducing the product in the foreign market without any changes to the brand.

The ultimate form of foreign investment is direct ownership of foreign-based assembly or manufacturing facilities.Briefly describe the advantages to ownership.

According to Hofstede,cultures with low power distance are best described as ________.

Most companies would prefer to enter the international marketplace because their national markets are too small for continued growth.

When deciding where to operate internationally,it often makes sense to operate in fewer countries,with a deeper commitment and penetration in each.Identify the three criteria that companies prefer countries meet to be viable alternatives for entry.

A company can carry on direct exporting in several ways. A traveling export sales representative is ________.

In a waterfall approach to international expansion,________.

The internationalization process has four stages.These stages include ________.

Define the gray market.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, Satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing with Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Managing a Holistic Marketing Organization

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