Marketing 440 Quiz 1

Company personnel with a(n) ______ orientation see only similarities in markets and assume that products and practices that succeed in the home country will be successful anywhere. a. polycentric b. ethnocentric c. regiocentric d. geocentric e. monopolistic

b. ethnocentric

Experience transfers, scale economies, resources utilization, and global strategy are four important forms of ______. a. converging market needs and wants b. leverage c. world economic trends d. product development costs e. management myopia

b. leverage

Achieving competitive advantage in global industry requires executives and managers to: a. create a brand that is "all things to all people" b. maintain a well-defined strategic focus c. expand into many more product categories d. mix their product lines e. branch their marketing efforts into all possible markets

b. maintain a well-defined strategic focus

Which of the following is considered to be a restraining force against a company's globalization efforts? a. world economic trends b. national controls c. product development costs d. quality e. multilateral trade agreements

b. national controls

The United States represents roughly ______ percent of the total world market for all products and services. a. 90 b. 10 c. 25 d. 75 e. 50

c. 25

Global market participation is the extent to which: a. marketing activities related to the marketing mix are planned and executed interdependently around the globe b. each marketing mix element is standardized (i.e. executed the same way) or adapted (i.e. executed in different ways) in various country markets c. a company has operations in major world markets d. activities related to the marketing mix (e.g. promotional campaigns or pricing decisions) are performed in one or a few country locations e. a firm's competitive marketing tactics in different parts of the world are interdependent

c. a company has operations in major world markets

Which of the following strategies would be MOST likely classified as a product development strategy? a. a company decided not to worry about creating new strategies for either existing or new markets b. an app is created for current customers to pay for their purchases from the company electronically c. a company created a new product to sell in a foreign country d. a partnership is forged by the brand with a company in a foreign country to help production and distribution of the brand's existing products in that country e. a company created a new product to upsell to their existing customers

e. a company created a new product to upsell to their existing customers

Which of the following statements is TRUE? a. a marketing approach that has proven successful in one country will definitely succeed in another country b. a marketing approach that has proven successful in one country will not necessarily fail in another country c. a marketing approach rate of success or failure does not vary by country d. a marketing approach that has failed in one country will definitely fail in another country e. a marketing approach that has proven successful in one country will not necessarily succeed in another country

e. a marketing approach that has proven successful in one country will not necessarily succeed in another country

Management myopia is typically associated with which of the following orientations? a. regiocentric b. polycentric c. geocentric d. monopolistic e. ethnocentric

e. ethnocentric

The term "global or transnational company" is often associated with a(n) ______ orientation. a. polycentric b. ethnocentric c. regiocentric d. monopolistic e. geocentric

e. geocentric

The term "multinational company" is often associated with a(n) ______ orientation. a. ethnocentric b. geocentric c. monopolistic d. regiocentric e. polycentric

e. polycentric

Coordination of marketing activities is the extent to which: a. a firms competitive marketing tactics in different parts of the world are interdependent b. each marketing mix element is standardized (i.e. executed the same way) or adapted (i.e. executed in different ways) in various country markets c. marketing activities related to the marketing mix are planned and executed interdependently around the globe d. activities related to the marketing mix (e.g. promotional campaigns or pricing decisions) are performed in one or a few country locations e. a company has operations in major world markets

c. marketing activities related to the marketing mix are planned and executed interdependently around the globe

Which of the following strategies would be MOST likely classified as a market penetration strategy? a. An app created for current customers to pay for their purchases from the company electronically b. a partnership is forged by the brand with a company in a foreign country to help production and distribution of the brand in that country c. a company created a new product to sell in a foreign country d. a company created a new product to upsell it to existing customers e. a company decided not to worry about creating new strategies for either existing or new markets

a. An app created for current customers to pay for their purchases from the company electronically

Concentration of marketing activities is the extent to which: a. activities related to the marketing mix (e.g. promotional campaigns or pricing decisions) are performed in one or a few country locations b. each marketing mix element is standardized (i.e. executed the same way) or adapted (i.e. executed in different ways) in various country markets c. a firm's competitive marketing tactics in different parts of the world are interdependent d. marketing activities related to the marketing mix are planned and executed interdependently around the globe e. a company has operations in major world markets

a. activities related to the marketing mix (e.g. promotional campaigns or pricing decisions) are performed in one or a few country locations

A company that wishes to engage in global marketing can either use which of the following two products/market growth strategies? a. market development and diversification b. market penetration and market development c. market penetration and product development d. product development and diversification e. product development and market development

a. market development and diversification

A U.S. company that focuses on the countries included in the North American Free Trade Agreement (NAFTA)--namely the United States, Canada, and Mexico--has a(n) ______ orientation a. regiocentric b. geocentric c. ethnocentric d. polycentric e. monopolistic

a. regiocentric

John Quelch and Katherine Josz assert which of the following statements? a. "The best global brands are never the best local brands" b. The best global brands are also the best local brands" c. The worst global brands are never the best local brands d. The best global brands are also the worst local brands e. the worst global brands are also the worst local brands

b. The best global brands are also the best local brands"

Integration of competitive moves is the extent to which: a. a company has operations in major world markets b. a firm's competitive marketing tactics in different parts of the world are interdependent c. each marketing mix element is standardized (i.e. executed the same way) or adapted (i.e. executed in different ways) in various country markets d. activities related to the marketing mix (e.g. promotional campaigns or pricing decisions) are performed in one or a few country locations e. marketing activities related to the marketing mix are planned and executed interdependently around the globe.

b. a firm's competitive marketing tactics in different parts of the world are interdependent

Which of the following strategies is MOST likely classified as a market development strategy? a. an app created for current customers to pay for their purchases from the company electronically b. a partnership is forged by the brand with a company in a foreign country to help production and distribution of the brand's existing products in that country c. a company created a new product to sell in a foreign country d. a company created a new product to upsell to their existing customers e. a company decided not to worry about creating new strategies for either existing or new markets

b. a partnership is forged by the brand with a company in a foreign country to help production and distribution of the brand's existing products in that country

The phrase "global localization" implies that the world requires: a. endless customization but not homogeneous products b. both homogeneous products and endless customization c. homogeneous products but not endless customization d. both AND neither homogeneous products and endless customization e. neither homogeneous products nor endless customization

d. both AND neither homogeneous products and endless customization

In single-country marketing, strategy development addresses: a. the extent to which a company has operations in major world markets b. the extent to which each marketing mix element is adapted in various country markets c. the extent to which it is possible to extend marketing plans and programs worldwide d. choosing a target market and developing a marketing mix e. the extend to which each marketing mix element is standardized in various country markets

d. choosing a target market and developing a marketing mix

The phrase "think globally act locally" is MOST linked with which of the following concepts? a. global concentration b. global standardization c. global coordination d. global localization e. global adaptation

d. global localization

An industry is global to the extent that a company's industry position in one country is ______ in other countries. a. overshadowed by its industry position b. superior to its industry position c. independent of its industry position d. interdependent with its industry position e. unrelated to its industry position

d. interdependent with its industry position

Eight companies in the top 10 Global 500 ranking in 2012 competed in the ______ sectors. a. cigarettes/tobacco b. video games/music c. technology/cell phones d. oil/energy e. luxury goods/services

d. oil/energy

Which of the following strategies would be MOST likely classified as a diversification strategy? a. A company created a new product to sell in a foreign country b. A company decided not to worry about creating new strategies for either existing or new markets c. An app is created for current customers to pay for their purchases from the company electronically d. a company created a new product to upsell to their existing customers e. a partnership is forged by the brand with a company in a foreign country to help production and distribution of the brand's existing products in that country

a. A company created a new product to sell in a foreign country