Exam 18: Global Marketing and RD

Describe an exclusive distribution channel. Consider the implications of channel exclusivity for outside firms.

If a ____ change in a price produces a ____ change in demand, then demand is said to be elastic.

When a company emphasizes personal selling, the company is probably using a push strategy.

A push strategy makes sense when distribution channels are short.

Discuss the notion of cross-functional teams and their role in cross-functional integration. What are the attributes that make a product development team successful?

A firm that depends more on mass media advertising to communicate the marketing message to potential consumers is using a:

The process of identifying distinct groups of consumers whose purchasing behavior differs from others in important ways is known as consumer behavior analysis.

The marketing mix is comprised of product attributes, distribution strategy, communication strategy, and pricing strategy.

The goal of market segmentation is to optimize the fit between the purchasing behavior of consumers in a given segment and the marketing mix, thereby maximizing sales to that segment.

What is channel length? What is the most important determinant of channel length? Mention two factors that shorten channel length.

Predatory pricing refers to the fact that a firm's pricing strategy in one market may have an impact on its rivals' pricing strategy in another market.

Pricing decisions around the world must be delegated to the managers of various national subsidiaries.

Which of the following countries has a concentrated retail system?

In the 1960s, the Swedish vacuum manufacturer Electrolux successfully marketed vacuums in the United Kingdom with the slogan "Nothing sucks like an Electrolux". The informal US meaning of the word 'sucks' was already well known in the UK at the time, and the company hoped the slogan, with its possible double entendre, would gain attention. When this slogan was used in the American market, it was a catastrophe. This is an example of:

Elasticity of demand for a product in a given country is determined by income level and competitive conditions.

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

Compare and contrast push strategies and pull strategies.

The most important aspect of a country's cultural differences, particularly important in foodstuffs and beverages, is the impact of ____.

____ refers to the fact a firm's pricing strategy in one market may have an impact on its rivals' pricing strategy in another market.

Concentrated retail systems tend to promote the growth of wholesalers to serve retailers, which lengthens channels.