Question 1

Explain the difference between foreign marketing, international marketing, and global marketing.

Accepted Answer

Foreign marketing involves developing local distribution and service representation in a foreign market in one of two ways. One method is to identify local intermediaries in appropriate international markets and create a formal relationship. The second approach is for the company to establish its own direct sales force in major markets, thereby expanding the company's direct market reach.
When a firm makes the commitment to manufacture products outside its domestic market, it is engaged in international marketing. International marketing aligns the company's assets and resources with global markets, but, in the vast majority of companies, management still takes a "domestic first" approach to the business.
A global marketing company realizes that all world markets (including the company's own domestic market) are, in reality, a single market with many different segments. This frequently happens when a company generates more than half its revenue in international markets.

Question 2

Many countries base their court systems on those of former rulers. For example, the Spanish ruled many South American countries; therefore, the court system is based on code or civil law. This would be identified in the ________ section of a global market research report.

Accepted Answer

A)  economic 
B)  cultural, societal 
C)  business environment 
D)  political, legal 
E)  history, geography 
A)  economic 
B)  cultural, societal 
C)  business environment 
D)  political, legal 
E)  history, geography D

Question 3

The triple bottom line metric is used for measuring the financial results of the company, but does not take into account equity, economic or environmental considerations.

Accepted Answer

A) True 
 B)False  FALSE

Question 4

Businesses are not confined to a local market due to improved distribution, sophisticated communication tools, product standardization, and the Internet.

Accepted Answer

A) True 
 B)False

Question 5

Jason went to an automobile dealership to buy a car, and he spent two hours talking to an employee about options. This element of marketing communications is called ________.

Accepted Answer

A)  advertising 
B)  personal selling 
C)  promotion 
D)  public relations 
E)  direct marketing 
A)  advertising 
B)  personal selling 
C)  promotion 
D)  public relations 
E)  direct marketing

Question 6

In Serovia, most people eat dinner after 10:00 p.m. This would be identified in the ________ section of a global market research report.

Accepted Answer

A)  economic 
B)  cultural, societal 
C)  business environment 
D)  political, legal 
E)  history, geography 
A)  economic 
B)  cultural, societal 
C)  business environment 
D)  political, legal 
E)  history, geography

Question 7

________ is the net benefits (or costs) associated with a product or service, and it is affected by the buyer's trust that the company will keep its promises.

Accepted Answer

A)  Value 
B)  Outlay 
C)  Exchange 
D)  Accreditation 
E)  Gain 
A)  Value 
B)  Outlay 
C)  Exchange 
D)  Accreditation 
E)  Gain

Question 8

The global market advertising approach in which distinct ads are built around several marketing messages, and local marketers select the ads that best fit their specific market situation, is known as global marketing with local content.

Accepted Answer

A) True 
 B)False

Question 9

A company can do business with an international customer and still not engage in direct foreign marketing.

Accepted Answer

A) True 
 B)False

Question 10

When distributors do not have authorization from manufacturers but divert products from low-price markets and sell them in high-price markets, they are practicing ________.

Accepted Answer

A)  gray market distribution 
B)  price fixing 
C)  dumping 
D)  compensation trading 
E)  offset pricing 
A)  gray market distribution 
B)  price fixing 
C)  dumping 
D)  compensation trading 
E)  offset pricing

Question 11

What are the Six Cs of channel strategy? Give examples showing how each of these can impact channel partner decisions.

Accepted Answer

@#LAT-DLM& Estimating channel costs includes (1) t

Question 12

Small companies have to invest a lot of money to go global.

Accepted Answer

A) True 
 B)False

Question 13

MERCOSUR is a regional market zone in ________.

Accepted Answer

A)  Asia 
B)  Africa 
C)  North America 
D)  The Mideast 
E)  South America 
A)  Asia 
B)  Africa 
C)  North America 
D)  The Mideast 
E)  South America

Question 14

The economic output of the European Union (EU) is larger than that of the United States.

Accepted Answer

A) True 
 B)False

Question 15

________ is the most common method for entering foreign markets.

Accepted Answer

A)  Direct foreign investment 
B)  Licensing 
C)  Franchising 
D)  Exporting 
E)  Joint ventures 
A)  Direct foreign investment 
B)  Licensing 
C)  Franchising 
D)  Exporting 
E)  Joint ventures

Question 16

Advantages to licensing as a market entry strategy include all of the following EXCEPT________.

Accepted Answer

A)  limited financial risk in the short run 
B)  easy availability of raw materials 
C)  services such as local distribution 
D)  decrease in operational costs 
E)  complete control of the patent 
A)  limited financial risk in the short run 
B)  easy availability of raw materials 
C)  services such as local distribution 
D)  decrease in operational costs 
E)  complete control of the patent

Question 17

PepsiCo and Coca-Cola sponsor traveling carnivals in rural Latin America to encourage product trial. This element of marketing communications is called ________.

Accepted Answer

A)  advertising 
B)  personal selling 
C)  sales promotion 
D)  public relations 
E)  direct marketing 
A)  advertising 
B)  personal selling 
C)  sales promotion 
D)  public relations 
E)  direct marketing

Question 18

Bistrone corn canned soup was made expressly for the Japanese market by Coca-Cola Japan. This is an example of ________.

Accepted Answer

A)  direct product extension 
B)  product adaptation 
C)  backward product adaptation 
D)  product invention 
E)  hybrid products 
A)  direct product extension 
B)  product adaptation 
C)  backward product adaptation 
D)  product invention 
E)  hybrid products

Question 19

Global marketing research focuses on just three types of basic information: economic, cultural, and political/legal.

Accepted Answer

A) True 
 B)False

Question 20

Ford Motor Co. introduced its automobile called Nova in Mexico. It faced difficulty in selling the car because "Nova" in Spanish means "It doesn't go." This illustrates a problem with ________.

Accepted Answer

A)  brand strategy 
B)  country-of-origin effect 
C)  quality 
D)  fitting the product to the culture 
E)  manufacturing 
A)  brand strategy 
B)  country-of-origin effect 
C)  quality 
D)  fitting the product to the culture 
E)  manufacturing

Explain the difference between foreign marketing, international marketing, and global marketing.

Many countries base their court systems on those of former rulers. For example, the Spanish ruled many South American countries; therefore, the court system is based on code or civil law. This would be identified in the ________ section of a global market research report.

The triple bottom line metric is used for measuring the financial results of the company, but does not take into account equity, economic or environmental considerations.

Businesses are not confined to a local market due to improved distribution, sophisticated communication tools, product standardization, and the Internet.

Jason went to an automobile dealership to buy a car, and he spent two hours talking to an employee about options. This element of marketing communications is called ________.

In Serovia, most people eat dinner after 10:00 p.m. This would be identified in the ________ section of a global market research report.

________ is the net benefits (or costs) associated with a product or service, and it is affected by the buyer's trust that the company will keep its promises.

The global market advertising approach in which distinct ads are built around several marketing messages, and local marketers select the ads that best fit their specific market situation, is known as global marketing with local content.

A company can do business with an international customer and still not engage in direct foreign marketing.

When distributors do not have authorization from manufacturers but divert products from low-price markets and sell them in high-price markets, they are practicing ________.

What are the Six Cs of channel strategy? Give examples showing how each of these can impact channel partner decisions.

Small companies have to invest a lot of money to go global.

MERCOSUR is a regional market zone in ________.

The economic output of the European Union (EU) is larger than that of the United States.

________ is the most common method for entering foreign markets.

Advantages to licensing as a market entry strategy include all of the following EXCEPT________.

PepsiCo and Coca-Cola sponsor traveling carnivals in rural Latin America to encourage product trial. This element of marketing communications is called ________.

Bistrone corn canned soup was made expressly for the Japanese market by Coca-Cola Japan. This is an example of ________.

Global marketing research focuses on just three types of basic information: economic, cultural, and political/legal.

Ford Motor Co. introduced its automobile called Nova in Mexico. It faced difficulty in selling the car because "Nova" in Spanish means "It doesn't go." This illustrates a problem with ________.

Marketing in Today's Business Milieu

Elements of Marketing Strategy, Planning, and Competition

Market Research Essentials

CRM, Big Data, and Marketing Analytics

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Product Strategy and New Product Development

Build the Brand

Service as the Core Offering

Manage Pricing Decisions

Manage Marketing Channels, Logistics, and Supply Chain

Promotion Essentials: Digital and Social Media Marketing

Promotion Essentials: Legacy Approaches

Filters

Exam 2: Marketing Foundations: Global, Ethical, Sustainable

Explain the difference between foreign marketing, international marketing, and global marketing.

Many countries base their court systems on those of former rulers. For example, the Spanish ruled many South American countries; therefore, the court system is based on code or civil law. This would be identified in the ________ section of a global market research report.

The triple bottom line metric is used for measuring the financial results of the company, but does not take into account equity, economic or environmental considerations.

Businesses are not confined to a local market due to improved distribution, sophisticated communication tools, product standardization, and the Internet.

Jason went to an automobile dealership to buy a car, and he spent two hours talking to an employee about options. This element of marketing communications is called ________.

In Serovia, most people eat dinner after 10:00 p.m. This would be identified in the ________ section of a global market research report.

________ is the net benefits (or costs) associated with a product or service, and it is affected by the buyer's trust that the company will keep its promises.

The global market advertising approach in which distinct ads are built around several marketing messages, and local marketers select the ads that best fit their specific market situation, is known as global marketing with local content.

A company can do business with an international customer and still not engage in direct foreign marketing.

When distributors do not have authorization from manufacturers but divert products from low-price markets and sell them in high-price markets, they are practicing ________.

What are the Six Cs of channel strategy? Give examples showing how each of these can impact channel partner decisions.

Small companies have to invest a lot of money to go global.

MERCOSUR is a regional market zone in ________.

The economic output of the European Union (EU) is larger than that of the United States.

________ is the most common method for entering foreign markets.

Advantages to licensing as a market entry strategy include all of the following EXCEPT________.

PepsiCo and Coca-Cola sponsor traveling carnivals in rural Latin America to encourage product trial. This element of marketing communications is called ________.

Bistrone corn canned soup was made expressly for the Japanese market by Coca-Cola Japan. This is an example of ________.

Global marketing research focuses on just three types of basic information: economic, cultural, and political/legal.

Ford Motor Co. introduced its automobile called Nova in Mexico. It faced difficulty in selling the car because "Nova" in Spanish means "It doesn't go." This illustrates a problem with ________.

Marketing in Today's Business Milieu

Elements of Marketing Strategy, Planning, and Competition

Market Research Essentials

CRM, Big Data, and Marketing Analytics

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Product Strategy and New Product Development

Build the Brand

Service as the Core Offering

Manage Pricing Decisions

Manage Marketing Channels, Logistics, and Supply Chain

Promotion Essentials: Digital and Social Media Marketing

Promotion Essentials: Legacy Approaches

Filters