Marketing

Existing products to new customers

A market development strategy can be defined as selling Blank______

Existing customers

A market penetration strategy attempts to increase sales of present products among

Dashboard

A marketing Blank______ allows a manager to glance at a graph or table and make an informed decision whether to take action regarding organizational objectives.

Plan

A marketing Blank______ is a road map for the marketing actions of an organization for a specific future time period.

A future time period

A marketing plan is a road map for marketing actions for Blank______.

The Foreign Corrupt Practices Act makes it a crime for U.S. corporations to

Bribe a foreign government official

In what two ways do governments implement protectionism measures?

By setting quotas By imposing tariffs

The main factors analyzed in a(n) ______ are values, customs, cultural symbols, and language.

Cross-cultural analysis

Different cultures attach different meanings to things; a cultural ______ is anything that represents ideas and concepts of a specific culture.

Symbol

Cultural _ are things that represent ideas and concepts in a specific culture.

Symbols

specify a foundation set a direction formulate strategies

What are the three key elements of a visionary organization?

Planning Evaluation Implemenation

What are the three phases of the strategic marketing process?

enter into the strategic marketing process

When marketers Blank______, they take into account the fact that customers are different, customers change, competitors change and react, and organizational resources are limited.

Market Penetration

Which marketing strategy would use advertising to encourage existing customers to buy more of a product each time they visit a store?

In what two ways do governments implement protectionism measures?

by setting quotas by imposing tariffs

Direct investment occurs when a domestic firm

chooses to create and own a foreign subsidiary or division.

Exporting occurs when

A firm produces a product in its own country and sells it in another

What are the two main components of the political and regulatory climate assessment that a global company must address?

1. How stable is the country in terms of its government?2. How difficult is it to navigate the trade rules in order to do business there?

marketing dashboard

A Blank______ is a visual display of the essential information related to achieving a marketing objective.

Organizational Purpose

A clear expression of a firm's Blank______ will detail why an organization exists, what problems it wishes to solve, and who it wants to be to every person it touches through its work.

What is considered normal and expected about the way people do things in a specific country is known as

A custom

A statement of a task to be achieved

A goal can be defined as Blank______.

A personally or socially preferable mode of conduct or state of existence that tends to persist over time is calledA

A societal value

The fact that in India cows are considered sacred and not to be eaten by 85 percent of the population is an example of

A societal value

an organiztion's long term course of action allowing it to achieve its goals

A strategy can be defined as Blank______.

diversification analysis

A technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is called Blank

organization

A(n) Blank______ is a legal entity that consists of people who share a common mission.

the strategic marketing process

An organization uses ______ to allocate its marketing mix resources to reach its target markets.

foundation

An organization's core values, mission, and culture will establish its philosophical reason for being, or its Blank______.

market development

Andy's Auto Detailing decides to open a second shop in a neighboring town. In doing so, the company is using which marketing strategy?

What three industries are well-known global competitors?

Automobile Pharmaceutical Aerospace

The Foreign Corrupt Practices Act makes it a crime for U.S. corporations to

Bribe a foreign government offical

The fact that in Japan women give men chocolates for Valentine's day is an example of how Blank______ can influence behavior in different societies.

Customs

When a domestic firm creates and owns a foreign subsidiary or division, it is using which global entry strategy?

Direct investment

Global marketers may devise creative solutions for getting their products to hard-to-reach consumers in developing countries. This type of solution is part of the firm's ______ strategy.

Distribution strategy

Growth

Diversification analysis and business portfolio analysis help managers develop Blank______ strategies and make resource allocation decisions.

is when a firm sells a product in a foreign country below its domestic price or below its actual cost. (one word)

Dumping

After firms have completed a global ______, they are better able to make informed decisions about a potential country market.

Enviormental scan

Select the four options for entering a global market.

Exporting. Licensing. Joint venture. Direct investment.

When a firm either produces or markets its products worldwide it is participating in what is known as

Global competition

Technology allows people to connect from distant parts of the world, allowing the growth of

Global markets

is the focus on creating economic, cultural, political, and technological interdependence among individual national institutions and economies.

Globalization

Where are we now

Identifying one's competencies, customers, and competitors helps an organization answer what important question in setting a strategic direction?

What business are we in?

Identifying one's direct competition is a way to answer which question?

Competitors Customers Competencies

Identifying which three items allow an organization to determine where it is at the present time, as it begins to set a strategic direction?

portfolio

In Blank______ analysis, management evaluates the firm's various products and businesses, and then allocates resources according to the organization's best growth opportunities.

Directing the overall strategy for the organization

In an organization, what function takes place at the corporate level?

Products Markets

In searching for growth opportunities, organizations using diversification analysis consider both current and new options for which two items?

For which reasons would marketers consider a cross-cultural analysis important?

It tells marketers what customs are considered normal and expected.It tells marketers what a society values.It tells marketers what is represented by symbols.

A local firm and the foreign firm investing together to create a local business is called a(n)

Joint venture

Indirect exporting is an entry strategy that involves the Blank______ financial risk and allows a(n) Blank______ return to the firm.

Least; Limited

Dogs => low relative market share,low market growth rateCash Cows => high relative marketshare, low marketgrowth rateQuestion marks => low relativemarket share,high marketgrowth rateStars => high relative market share, high market growth rate

Match the BCG name to the correct combination of relative market share and market growth rate.

1.Dogs: May generate enough cash to sustain themselves but are not considered current or future winners.2. Cash cows: Generate large amount of cash which can be invested in other SBUs.3. Question marks: Require cash to maintain market share, even though that share is small.4. Stars: Requires cash to sustain rapid growth but will likely generate cash when growth slows.

Match the BCG quadrant name to its correct characteristics

Mission Culture Core values

Organizational purpose serves as the basis for an organization's Blank______. (Select all that apply)

Match the following strategies for selling products globally with the correct definition.

Product extension => Selling virtually the same product in other countries.Product adaption => Changing a product to make it more appropriate for a country's climate or consumer preferences.Product invention => Creating a toally new product to satisfy common needs across countries.

What are the three primary ways a product can be sold globally?

Product extension, product adaptation, and product invention

Tariffs and quotas are the tools of used by governments to shield local industries from foreign competition.

Protectionism

Customers are different. Organizational resources are limited. Competitors change and react. Customers change.

Select the four principles that underlie the strategic marketing process.

Develops goods, services, or ideas Strives to create value for its customers Consists of people who share a common mission

Select the items that characterize organizations. (Select all that apply)

Changes in which of the following has been the driving force for growth in global markets?

Technology

product development

The Blank______ strategy offers a new product or service to a firm's existing market.

When the European countries signed a trade agreement creating a free trading zone between the countries, they formed a transnational trading group called

The EU

Business

The clear, broad, underlying industry category or market sector of an organization's offering defines its

Currencies fluctuate against each other every day. The price of one's country's currency expressed in terms of another country's is called

The currency exchange rate

When people from the United States travel to countries in Europe, they might check to see how the U.S. dollar compares to the euro. In doing so, they are checking

The currency exchange rate

Fucnctional

The lowest of the three organizational levels is the Blank______ level.

Corporate level

The overall strategy for the entire organization is set at the

New; Current

The product development strategy involves marketing a Blank______ product or service to a Blank______ market for the organization.

In which of the following ways do successful global marketers handle their firm's global marketing programs?

They wil standardize them whenever possible

What two situations likely exist in developing countries that cause marketers to adapt their global distribution strategies?

Transportation and communication systems are underdeveloped.Traditional channels that have been used do not exist.

False

True or false: The purpose of a marketing strategy is to maximize short-term profits.

Firms typically perform it at the SBU or product line level of the firm. Management allocates its resources to products based on growth opportunities. Management evaluates the firm's various products and businesses.

Which of the following are true of portfolio analysis? (select all that apply)

Diversification Analysis Business Portfolio Analysis

Which two techniques aid in decisions about where an organization wants to go?

Which best describes the European Union?

a group of European countries that signed a trade agreement for the purpose of promoting free trade within their countries

Goals or objectives

convert an organization's mission and business into long- and short-term performance targets.

The term globalization refers to the

creation of economic, cultural, political, and technological interdependence among individual national institutions and economies.

Assessing the political and regulatory climate for marketing in a country or region of the world involves not only identifying the current climate but also

determining how long a favorable or unfavorable climate will last.

Match each of the following global market-entry strategies with the correct definition.

exporting-producing products in one country and selling them in another-licensing-offering the right to a trademark patent trade secret or other intellectual property for a fee-joint venture-infesting together with a local firm to create a local business that shares control and profits-direct investment-investing in and owing a foreing subsidiary or division

A joint venture is a type of

global entry strategy

General Mills has a(n) Blank______ arrangement with French cooperative Sodima to produce and sell its Yoplait yogurt in the United States.

licensing

When a company offers the right to a trademark, patent, trade secret, or other intellectual property in return for a royalty or a fee, it is known as a(n) Blank______ arrangement.

licensing

In the context of global trade, dumping is

selling a product in a foreign country below its domestic price or below its actual cost

A global environmental scan, marketing research, and judgments based on experience will determine the extent of ______ that global marketing programs will have.

standardization or customization

In an environmental scan, cultural, economic, and political-regulatory factors are most important for the firm operating globally because

these factors can have the most striking differences from the domestic market