Question 1

Compare and contrast the various strategies for entering new global markets: exporting, licensing, franchising, strategic alliances, and direct foreign investment. Give examples of when each strategy would be best utilized.

Accepted Answer

The answer of Compare and contrast the various strategies for...

Question 2

________ represent an exporting firm in a foreign market. They become the face of a company through servicing customers, selling products, and receiving payment. They often take title to the goods and resell them.

Accepted Answer

A)  Brokers 
B)  Export agents 
C)  Distributors 
D)  Direct sales forces 
E)  Freight forwarders

Question 3

Mr. Coffee had a good understanding of the Japanese culture when it introduced coffeemakers that fit well in Japanese kitchens.

Accepted Answer

A) True 
 B)False

Question 4

Delxen Inc., a multinational company, uses the same prices for all its products globally. This type of pricing is called ________.

Accepted Answer

A)  going-rate price 
B)  one world price 
C)  local market condition price 
D)  transfer price 
E)  cost-based price

Question 5

Most global marketers rely on local distribution networks in foreign markets. This is because it is very expensive to build a company's own distribution network in a foreign market. This issue can be identified in the channel strategy of ________.

Accepted Answer

A)  change 
B)  coverage 
C)  character 
D)  continuity 
E)  control

Question 6

What area in marketing presents the most ethical challenges?

Accepted Answer

A)  product 
B)  price 
C)  distribution 
D)  marketing communications 
E)  promotion

Question 7

The value of the Japanese yen has fluctuated widely during the 2000s compared to the U.S. dollar. A firm considering direct foreign investment would report this finding under the heading of ________.

Accepted Answer

A)  timing 
B)  legal issues 
C)  transaction costs 
D)  marketing communication barriers 
E)  product differentiation

Question 8

Describe the following key regional market zones: European Union, MERCOSUR, NAFTA, and ASEAN. What countries do they include, what benefits do they have, and have they been successful?

Accepted Answer

The answer of Describe the following key regional market zones:...

Question 9

The fastest-growing economy in the world in 2017 was ________.

Accepted Answer

A)  Sierra Leone 
B)  Afghanistan 
C)  Macau 
D)  China 
E)  Libya

Question 10

Perdue found that one of its chicken products may have been contaminated with bacteria, so it pulled it off the shelves and instituted a recall. This potential ethical issue was associated with which element of the marketing mix?

Accepted Answer

A)  product 
B)  price 
C)  distribution 
D)  marketing communications 
E)  promotion

Question 11

Sam is flying to Rio de Janeiro, Brazil, to meet with a prospective customer. He wants to learn the ethical standards, degree of formality, and gender biases of the country. Which of the following types of information will help Sam to accomplish his task?

Accepted Answer

A)  economic 
B)  demographic 
C)  business environment 
D)  political and legal 
E)  geography

Question 12

In the context of identifying specific consumer trends, ________ is not a product issue for international consumer marketers.

Accepted Answer

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

Question 13

Licensing is a useful form of market entry when companies lack the resources to establish independent operations in foreign markets.

Accepted Answer

A) True 
 B)False

Question 14

Many countries restrict marketing to children more severely than in the United States. A firm considering direct foreign investment would report this finding under the heading of ________.

Accepted Answer

A)  technology transfer 
B)  legal issues 
C)  transaction costs 
D)  marketing communication barriers 
E)  product differentiation

Question 15

Charging a price that is lower than actual costs or less than the company charges in its home market is called ________.

Accepted Answer

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

Question 16

Techel Electronics, a multinational company, manufactures its products in its home market, but treats the world as a single market with many segments in it. It sold televisions worth $47 million in 2017 in international markets, which was more than half of its total revenue. In the context of stages of global experience learning curve, the company is engaged in ________.

Accepted Answer

A)  global marketing 
B)  no direct foreign marketing 
C)  global partnerships 
D)  foreign marketing 
E)  international marketing

Question 17

The American Marketing Association's code of ethics speaks to six primary ethical values: honesty, responsibility, fairness, respect, transparency, and ________.

Accepted Answer

A)  social conscience 
B)  loyalty 
C)  consumer-orientation 
D)  sustainability 
E)  citizenship

Question 18

The concept of sustainability includes all business practices that seek to balance business success and societal success over the long term.

Accepted Answer

A) True 
 B)False

Question 19

________ is one of the most widely used measures of economic growth.

Accepted Answer

A)  Return on investment 
B)  Break-even point 
C)  Gross domestic product 
D)  Six Sigma 
E)  Stock market index

Question 20

Engaging in ethical business practices generally has little impact on marketing strategy and implementation.

Accepted Answer

A) True 
 B)False

Exam 2: Marketing Foundations: Global, Ethical, Sustainable

Compare and contrast the various strategies for entering new global markets: exporting, licensing, franchising, strategic alliances, and direct foreign investment. Give examples of when each strategy would be best utilized.

________ represent an exporting firm in a foreign market. They become the face of a company through servicing customers, selling products, and receiving payment. They often take title to the goods and resell them.

Mr. Coffee had a good understanding of the Japanese culture when it introduced coffeemakers that fit well in Japanese kitchens.

Delxen Inc., a multinational company, uses the same prices for all its products globally. This type of pricing is called ________.

Most global marketers rely on local distribution networks in foreign markets. This is because it is very expensive to build a company's own distribution network in a foreign market. This issue can be identified in the channel strategy of ________.

What area in marketing presents the most ethical challenges?

The value of the Japanese yen has fluctuated widely during the 2000s compared to the U.S. dollar. A firm considering direct foreign investment would report this finding under the heading of ________.

Describe the following key regional market zones: European Union, MERCOSUR, NAFTA, and ASEAN. What countries do they include, what benefits do they have, and have they been successful?

The fastest-growing economy in the world in 2017 was ________.

Perdue found that one of its chicken products may have been contaminated with bacteria, so it pulled it off the shelves and instituted a recall. This potential ethical issue was associated with which element of the marketing mix?

Sam is flying to Rio de Janeiro, Brazil, to meet with a prospective customer. He wants to learn the ethical standards, degree of formality, and gender biases of the country. Which of the following types of information will help Sam to accomplish his task?

In the context of identifying specific consumer trends, ________ is not a product issue for international consumer marketers.

Licensing is a useful form of market entry when companies lack the resources to establish independent operations in foreign markets.

Many countries restrict marketing to children more severely than in the United States. A firm considering direct foreign investment would report this finding under the heading of ________.

Charging a price that is lower than actual costs or less than the company charges in its home market is called ________.

The American Marketing Association's code of ethics speaks to six primary ethical values: honesty, responsibility, fairness, respect, transparency, and ________.

The concept of sustainability includes all business practices that seek to balance business success and societal success over the long term.

________ is one of the most widely used measures of economic growth.

Engaging in ethical business practices generally has little impact on marketing strategy and implementation.