Question 1

Four elements comprise the marketing mix: product attributes, distribution strategy, communication strategy, and pricing strategy.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is one of the four elements that constitute a firm's marketing mix?

Accepted Answer

A)  inventory accounting 
B)  product reengineering 
C)  reverse engineering 
D)  distribution strategy 
A)  inventory accounting 
B)  product reengineering 
C)  reverse engineering 
D)  distribution strategy

Question 3

The set of choices the firm offers to its targeted market is known as the

Accepted Answer

A)  marketing mix. 
B)  marketing concept. 
C)  marketing strategy. 
D)  market promotion. 
A)  marketing mix. 
B)  marketing concept. 
C)  marketing strategy. 
D)  market promotion.

Question 4

Which of the following is an advantage of establishing cross-functional product development teams?

Accepted Answer

A)  It reduces the need for collaboration within the development team. 
B)  It helps firms reduce the status differences between employees. 
C)  It facilitates integration between different functions in a firm. 
D)  It is one way to achieve cross-functional integration. 
A)  It reduces the need for collaboration within the development team. 
B)  It helps firms reduce the status differences between employees. 
C)  It facilitates integration between different functions in a firm. 
D)  It is one way to achieve cross-functional integration.

Question 5

When a company charges whatever the market will bear, the company is using

Accepted Answer

A)  strategic pricing. 
B)  price discrimination. 
C)  a push strategy. 
D)  a pull strategy. 
A)  strategic pricing. 
B)  price discrimination. 
C)  a push strategy. 
D)  a pull strategy.

Question 6

The most important determinant of channel length is the degree to which a retail system is

Accepted Answer

A)  concentrated. 
B)  fragmented. 
C)  decentralized. 
D)  globalized. 
A)  concentrated. 
B)  fragmented. 
C)  decentralized. 
D)  globalized.

Question 7

Tight cross-functional integration among R&D, production, and marketing maximizes the time to market.

Accepted Answer

A) True 
 B)False

Question 8

The longer the distribution channel, the more intermediaries there are that must be persuaded to carry the product for it to reach the consumer.

Accepted Answer

A) True 
 B)False

Question 9

The four main differences between distribution systems worldwide are retail concentration, channel length, channel exclusivity, and channel quality.

Accepted Answer

A) True 
 B)False

Question 10

According to Levitt, which of the following statements is true?

Accepted Answer

A)  Technology drives the world toward a converging commonalty. 
B)  There are accustomed differences in national preferences. 
C)  The multinational corporation operates in a number of countries at low relative costs. 
D)  The global corporation operates with resolute consistency at high relative costs. 
A)  Technology drives the world toward a converging commonalty. 
B)  There are accustomed differences in national preferences. 
C)  The multinational corporation operates in a number of countries at low relative costs. 
D)  The global corporation operates with resolute consistency at high relative costs.

Question 11

If a firm manufactures its product in a particular country, it can sell directly to the consumer, to the retailer, or to the wholesaler. The same options are not available to a firm that manufactures outside the country.

Accepted Answer

A) True 
 B)False

Question 12

"Creative destruction" makes it important for companies to stay on the leading edge of technology.

Accepted Answer

A) True 
 B)False

Question 13

Consumers in the most developed countries are

Accepted Answer

A)  typically most interested in products that have been developed with the lowest common denominator in mind. 
B)  typically willing to sacrifice their preferred product attributes for lower prices. 
C)  often prefer globally standardized products. 
D)  often not willing to sacrifice their preferred attributes for lower prices. 
A)  typically most interested in products that have been developed with the lowest common denominator in mind. 
B)  typically willing to sacrifice their preferred product attributes for lower prices. 
C)  often prefer globally standardized products. 
D)  often not willing to sacrifice their preferred attributes for lower prices.

Question 14

Marriott owns many brands of hotels, such as W Hotels, which is a luxury brand; Westin hotels, which is an upscale brand; and Fairfield Inns, which are midscale. Marriott is marketing its hotels based on

Accepted Answer

A)  market segmentation. 
B)  market penetration. 
C)  diversification strategy. 
D)  differentiation. 
A)  market segmentation. 
B)  market penetration. 
C)  diversification strategy. 
D)  differentiation.

Question 15

Which of the following statements about barriers to international communication is true?

Accepted Answer

A)  Source effects occur when the receiver of the message evaluates the message on the basis of the location of the sender. 
B)  The best way for a firm to overcome cultural barriers is to use local input. 
C)  Source effects and country of origin effects are always negative. 
D)  Noise is extremely high in highly developed countries such as the United States. 
A)  Source effects occur when the receiver of the message evaluates the message on the basis of the location of the sender. 
B)  The best way for a firm to overcome cultural barriers is to use local input. 
C)  Source effects and country of origin effects are always negative. 
D)  Noise is extremely high in highly developed countries such as the United States.

Question 16

For a product development team to function effectively and meet all its development milestones, the team should be composed of at least one member from each key function.

Accepted Answer

A) True 
 B)False

Question 17

Tight cross-functional integration between R&D, production, and marketing can help a company to ensure that which of the following takes place?

Accepted Answer

A)  Time to market is maximized. 
B)  Development costs are not a consideration in developing the best product. 
C)  New products are designed for ease of manufacture. 
D)  Product development projects are driven by internal needs. 
A)  Time to market is maximized. 
B)  Development costs are not a consideration in developing the best product. 
C)  New products are designed for ease of manufacture. 
D)  Product development projects are driven by internal needs.

Question 18

Which of the following statements about price discrimination is true?

Accepted Answer

A)  It exists whenever consumers in a country are charged different prices for the same product. 
B)  A necessary condition for profitable price discrimination is different price elasticities of demand in different countries. 
C)  It is the use of price as a competitive weapon to drive weaker competitors out of a national market. 
D)  It makes economic sense to charge the same prices across countries. 
A)  It exists whenever consumers in a country are charged different prices for the same product. 
B)  A necessary condition for profitable price discrimination is different price elasticities of demand in different countries. 
C)  It is the use of price as a competitive weapon to drive weaker competitors out of a national market. 
D)  It makes economic sense to charge the same prices across countries.

Question 19

Consumers in highly developed countries value ________ as compared to their counterparts in less developed nations.

Accepted Answer

A)  product price 
B)  product reliability 
C)  product attributes 
D)  product value 
A)  product price 
B)  product reliability 
C)  product attributes 
D)  product value

Question 20

Which of the following statements about fragmented retail systems is true?

Accepted Answer

A)  Countries with fragmented retail systems tend to have short channels of distribution. 
B)  The more fragmented the retail system, the less expensive it is for a firm to make contact with each individual retailer. 
C)  Fragmented retail systems tend to promote the growth of wholesalers to serve retailers. 
D)  When the retail sector is very fragmented, it makes sense for the firm to deal directly with retailers. 
A)  Countries with fragmented retail systems tend to have short channels of distribution. 
B)  The more fragmented the retail system, the less expensive it is for a firm to make contact with each individual retailer. 
C)  Fragmented retail systems tend to promote the growth of wholesalers to serve retailers. 
D)  When the retail sector is very fragmented, it makes sense for the firm to deal directly with retailers.

Four elements comprise the marketing mix: product attributes, distribution strategy, communication strategy, and pricing strategy.

Which of the following is one of the four elements that constitute a firm's marketing mix?

The set of choices the firm offers to its targeted market is known as the

Which of the following is an advantage of establishing cross-functional product development teams?

When a company charges whatever the market will bear, the company is using

The most important determinant of channel length is the degree to which a retail system is

Tight cross-functional integration among R&D, production, and marketing maximizes the time to market.

The longer the distribution channel, the more intermediaries there are that must be persuaded to carry the product for it to reach the consumer.

The four main differences between distribution systems worldwide are retail concentration, channel length, channel exclusivity, and channel quality.

According to Levitt, which of the following statements is true?

If a firm manufactures its product in a particular country, it can sell directly to the consumer, to the retailer, or to the wholesaler. The same options are not available to a firm that manufactures outside the country.

"Creative destruction" makes it important for companies to stay on the leading edge of technology.

Consumers in the most developed countries are

Marriott owns many brands of hotels, such as W Hotels, which is a luxury brand; Westin hotels, which is an upscale brand; and Fairfield Inns, which are midscale. Marriott is marketing its hotels based on

Which of the following statements about barriers to international communication is true?

For a product development team to function effectively and meet all its development milestones, the team should be composed of at least one member from each key function.

Tight cross-functional integration between R&D, production, and marketing can help a company to ensure that which of the following takes place?

Which of the following statements about price discrimination is true?

Consumers in highly developed countries value ________ as compared to their counterparts in less developed nations.

Which of the following statements about fragmented retail systems is true?

Globalization

National Differences in Political, Economic, and Legal Systems

National Differences in Economic Development

Differences in Culture

Ethics, Corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Economic Integration

The Foreign Exchange Market

The International Monetary System

The Global Capital Market

The Strategy of International Business

The Organization of International Business

Entry Strategy and Strategic Alliances

Exporting, Importing, and Countertrade

Global Production and Supply Chain Management

Global Human Resource Management

Accounting and Finance in the International Business

Filters

Exam 18: Global Marketing and R&D

Four elements comprise the marketing mix: product attributes, distribution strategy, communication strategy, and pricing strategy.

Which of the following is one of the four elements that constitute a firm's marketing mix?

The set of choices the firm offers to its targeted market is known as the

Which of the following is an advantage of establishing cross-functional product development teams?

When a company charges whatever the market will bear, the company is using

The most important determinant of channel length is the degree to which a retail system is

Tight cross-functional integration among R&D, production, and marketing maximizes the time to market.

The longer the distribution channel, the more intermediaries there are that must be persuaded to carry the product for it to reach the consumer.

The four main differences between distribution systems worldwide are retail concentration, channel length, channel exclusivity, and channel quality.

According to Levitt, which of the following statements is true?

If a firm manufactures its product in a particular country, it can sell directly to the consumer, to the retailer, or to the wholesaler. The same options are not available to a firm that manufactures outside the country.

"Creative destruction" makes it important for companies to stay on the leading edge of technology.

Consumers in the most developed countries are

Marriott owns many brands of hotels, such as W Hotels, which is a luxury brand; Westin hotels, which is an upscale brand; and Fairfield Inns, which are midscale. Marriott is marketing its hotels based on

Which of the following statements about barriers to international communication is true?

For a product development team to function effectively and meet all its development milestones, the team should be composed of at least one member from each key function.

Tight cross-functional integration between R&D, production, and marketing can help a company to ensure that which of the following takes place?

Which of the following statements about price discrimination is true?

Consumers in highly developed countries value ________ as compared to their counterparts in less developed nations.

Which of the following statements about fragmented retail systems is true?

Globalization

National Differences in Political, Economic, and Legal Systems

National Differences in Economic Development

Differences in Culture

Ethics, Corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Economic Integration

The Foreign Exchange Market

The International Monetary System

The Global Capital Market

The Strategy of International Business

The Organization of International Business

Entry Strategy and Strategic Alliances

Exporting, Importing, and Countertrade

Global Production and Supply Chain Management

Global Human Resource Management

Accounting and Finance in the International Business

Filters