Question 1

What is the most common approach to personal selling?

Accepted Answer

The use of sales representativ

Question 2

A firm following a geocentric approach will use a two-tiered pricing policy.

Accepted Answer

A) True 
 B)False

Question 3

The marketing mix involves a firm's product, price, promotion, and place.

Accepted Answer

A) True 
 B)False

Question 4

Under a ________ price policy, the firm customizes its prices on a market-by-market basis to maximize its profits in each market.

Accepted Answer

A)  standard 
B)  two-tiered 
C)  market 
D)  global 
A)  standard 
B)  two-tiered 
C)  market 
D)  global

Question 5

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

Accepted Answer

A)  needs of customers around the world 
B)  ability of the firm to transport goods 
C)  needs of home country customers 
D)  ability of the firm to customize 
A)  needs of customers around the world 
B)  ability of the firm to transport goods 
C)  needs of home country customers 
D)  ability of the firm to customize

Question 6

Executives at Dawson Manufacturing, an MNE, are considering the implementation of a market pricing policy. Which of the following is NOT a potential risk to Dawson of this type of policy?

Accepted Answer

A)  inability to assess marginal costs 
B)  damage to the firm's brand name 
C)  development of a gray market 
D)  complaints about dumping 
A)  inability to assess marginal costs 
B)  damage to the firm's brand name 
C)  development of a gray market 
D)  complaints about dumping

Question 7

Which of the following would most likely trigger a gray market?

Accepted Answer

A)  a firm has large price differences among different markets 
B)  a firm prices its products almost equally in all markets 
C)  products are illegal in one market but legal in another 
D)  products are closely regulated by the government 
A)  a firm has large price differences among different markets 
B)  a firm prices its products almost equally in all markets 
C)  products are illegal in one market but legal in another 
D)  products are closely regulated by the government

Question 8

________ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Accepted Answer

A)  Strategy 
B)  Marketing 
C)  Production 
D)  Management 
A)  Strategy 
B)  Marketing 
C)  Production 
D)  Management

Question 9

Which approach to international marketing is the most expensive to adopt?

Accepted Answer

A)  ethnocentric approach 
B)  polycentric approach 
C)  geocentric approach 
D)  multidomestic approach 
A)  ethnocentric approach 
B)  polycentric approach 
C)  geocentric approach 
D)  multidomestic approach

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

What is the difference between standard pricing and two-tiered pricing? What are the common characteristics of firms that use each type?

Accepted Answer

A standard pricing policy involves charg

Question 12

What are the two conditions that must be met if a firm is to practice market pricing successfully?

Accepted Answer

To successfully practice market pricing

Question 13

Which of the following companies follows a differentiation strategy?

Accepted Answer

A)  Wal-Mart 
B)  Hyundai 
C)  Rolex 
D)  Hanes 
A)  Wal-Mart 
B)  Hyundai 
C)  Rolex 
D)  Hanes

Question 14

What are the advantages of direct sales?

Accepted Answer

Direct sales occur when a firm sells dir

Question 15

A direct channel includes what channel members?

Accepted Answer

A)  manufacturer, import agent, retailer, customer 
B)  manufacturer, import agent, customer 
C)  manufacturer, retailer 
D)  retailer, customer 
A)  manufacturer, import agent, retailer, customer 
B)  manufacturer, import agent, customer 
C)  manufacturer, retailer 
D)  retailer, customer

Question 16

Maddox Home Goods is based in Illinois but has plans to target the housewares market in Europe. Maddox executives believe that the firm's successful U.S. marketing strategy will work equally well in the European market. Maddox most likely has a(n) ________ approach to international marketing.

Accepted Answer

A)  ethnocentric 
B)  polycentric 
C)  geocentric 
D)  multidomestic 
A)  ethnocentric 
B)  polycentric 
C)  geocentric 
D)  multidomestic

Question 17

Firms that use two-tiered pricing are vulnerable to charges of dumping.

Accepted Answer

A) True 
 B)False

Question 18

Honda's advertising stresses its reliability and functionality. Reliability is the ________.

Accepted Answer

A)  medium 
B)  message 
C)  copy 
D)  channel 
A)  medium 
B)  message 
C)  copy 
D)  channel

Question 19

Define medium and message in advertising.

Accepted Answer

The medium is the communicatio

Question 20

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

Accepted Answer

A)  image 
B)  installation 
C)  warranty 
D)  packaging 
A)  image 
B)  installation 
C)  warranty 
D)  packaging

What is the most common approach to personal selling?

A firm following a geocentric approach will use a two-tiered pricing policy.

The marketing mix involves a firm's product, price, promotion, and place.

Under a ________ price policy, the firm customizes its prices on a market-by-market basis to maximize its profits in each market.

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

Executives at Dawson Manufacturing, an MNE, are considering the implementation of a market pricing policy. Which of the following is NOT a potential risk to Dawson of this type of policy?

Which of the following would most likely trigger a gray market?

________ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Which approach to international marketing is the most expensive to adopt?

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

What is the difference between standard pricing and two-tiered pricing? What are the common characteristics of firms that use each type?

What are the two conditions that must be met if a firm is to practice market pricing successfully?

Which of the following companies follows a differentiation strategy?

What are the advantages of direct sales?

A direct channel includes what channel members?

Maddox Home Goods is based in Illinois but has plans to target the housewares market in Europe. Maddox executives believe that the firm's successful U.S. marketing strategy will work equally well in the European market. Maddox most likely has a(n) ________ approach to international marketing.

Firms that use two-tiered pricing are vulnerable to charges of dumping.

Honda's advertising stresses its reliability and functionality. Reliability is the ________.

Define medium and message in advertising.

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

An Overview of International Business

Global Marketplaces and Business Centers

Legal, Technological, Accounting, and Political Environments

The Role of Culture

Ethics and Social Responsibility in International Business

International Trade and Investment

The International Monetary System and the Balance of Payments

Foreign Exchange and International Financial Markets

Formulation of National Trade Policies

International Cooperation Among Nations

International Strategic Management

Strategies for Analyzing and Entering Foreign Markets

International Strategic Alliances

International Organization Design and Control

Leadership and Employee Behavior in International Business

International Operations Management

International Financial Management

International Human Resource Management and Labor Relations

Filters

Exam 16: International Marketing

What is the most common approach to personal selling?

A firm following a geocentric approach will use a two-tiered pricing policy.

The marketing mix involves a firm's product, price, promotion, and place.

Under a ________ price policy, the firm customizes its prices on a market-by-market basis to maximize its profits in each market.

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

Executives at Dawson Manufacturing, an MNE, are considering the implementation of a market pricing policy. Which of the following is NOT a potential risk to Dawson of this type of policy?

Which of the following would most likely trigger a gray market?

________ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Which approach to international marketing is the most expensive to adopt?

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

What is the difference between standard pricing and two-tiered pricing? What are the common characteristics of firms that use each type?

What are the two conditions that must be met if a firm is to practice market pricing successfully?

Which of the following companies follows a differentiation strategy?

What are the advantages of direct sales?

A direct channel includes what channel members?

Maddox Home Goods is based in Illinois but has plans to target the housewares market in Europe. Maddox executives believe that the firm's successful U.S. marketing strategy will work equally well in the European market. Maddox most likely has a(n) ________ approach to international marketing.

Firms that use two-tiered pricing are vulnerable to charges of dumping.

Honda's advertising stresses its reliability and functionality. Reliability is the ________.

Define medium and message in advertising.

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

An Overview of International Business

Global Marketplaces and Business Centers

Legal, Technological, Accounting, and Political Environments

The Role of Culture

Ethics and Social Responsibility in International Business

International Trade and Investment

The International Monetary System and the Balance of Payments

Foreign Exchange and International Financial Markets

Formulation of National Trade Policies

International Cooperation Among Nations

International Strategic Management

Strategies for Analyzing and Entering Foreign Markets

International Strategic Alliances

International Organization Design and Control

Leadership and Employee Behavior in International Business

International Operations Management

International Financial Management

International Human Resource Management and Labor Relations

Filters