Chap 9,11,12,13,14 MGT 3600 quilt

A global mind-set is built on a thorough knowledge of geography.

False

For a company interested in entering a foreign market, a report analyzing in detail all the five screening forces described in the text is sufficient information on which to base a decision.

False

Leadership is synonymous with management.

False

Promotion is the central focus of the marketing mix.

False

Research indicates that global leaders are born, not developed through experience or training.

False

The benefits from standardization of the marketing mix are higher prices, easier control, and increase of time in preparing the marketing plan.

False

The extent of the changes in the marketing mix a firm must make when going overseas depends on the country and its political forces.

False

__________________________ is the most appropriate strategy when there are substantial differences across nations with regard to consumer tastes and preferences and where cost pressures are not too intense.

Localization strategy

___________________________ is the most appropriate strategy when the firm simultaneously faces strong pressures for both cost reductions and local responsiveness.

Transnational strategy

Cultures with hierarchical values, such as most Asian and Latin American cultures, often have a single leader with decision-making power.

True

Entering foreign markets can be described by two levels of involvement, nonequity and equity-based.

True

Generally, industrial products require less adaptation than consumer products to meet the demands of the world market.

True

Global managers who want to drive change need to be able to communicate across cultural boundaries and build trust.

True

International companies need a new kind of leader for the international environment to handle the increased complexity.

True

Market factors, market indicators, and trend analysis are all helpful techniques in market screening.

True

People from cultures with high power distance will feel most comfortable with top managers who make the decisions and issue directives.

True

Social desirability bias can be seen as a cultural problem when conducting market research.

True

The total product includes the physical product, brand name, accessories, after-sales service, warranty and instructions for use, company image, and package.

True

There are always great differences between marketing internationally and marketing domestically.

True

Trend analysis and cluster analysis are used in the third screening phase.

True

Trend analysis assumes that past conditions will remain constant.

True

Multiplicity and interdependence are among the four dimensions of complexity identified by scholars.

True The other two dimensions of complexity are ambiguity and dynamism.

A firm facing low pressures for local responsiveness and few pressures to contain costs might best pursue a(n) _______________________.

international strategy

Pressures for local responsiveness may make it difficult to ______________________________.

leverage skills and products associated with a firm's core competencies from one country to another

Markets are dynamic, and any firm will face competition. In time, international and localization strategies tend to become less viable, and managers need to ________________________________.

orientate their companies toward either a global standardization or transnational strategy