Global Marketing Final

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Select elements in the diffusion of new ideas as stated by Everett Rogers

1. Communication through specific channels 2. Communication over a period of time 3. Creation of a product

Which of the following statements are true regarding the impact of global competition on business?

1. Companies must emphasize competitive prices. 2. Product life cycles are increasingly shorter.

Identify the factors that affect the adoption of certain products by buyers.

1. Conformity with buyers' conduct 2. Conformity with buyers' conventions and principles 3. Physical characteristics and functions of the product

Select the circumstances that affect an object's pace of diffusion

1. Degree of perceived newness 2. Approaches utilized to convey ideas about the object 3. Perceived characteristics of the innovation

Identify the factors that dictate product adaption.

1. Economic conditions 2. Climatic requirements 3. Technological demands 4. Political requirements

Identify the accurate statements about a product.

1. It is a collection of fulfillments that a consumer purchases. 2. It is dependent on the prestige enjoyed by its brand.

Identify a true statement about maintaining quality in today's global competitive market.

1. It is necessary. 2. It is desirable.

Identify the utilities or satisfactions associated with a product.

1. Its smell 2. Its labeling 3. Its color 4. Its texture 5. Its major function

Order the following problems in international business negotiations, placing the least serious problem on top and the most serious problem at the bottom

1. Language 2. Nonverbal Behaviors 3. Values 4. Thinking and decision-making processes

Identify the three typical company structures.

1. Matrix organizations 2. Geographical divisions 3. Global product divisions

Select the qualities of innovation that control the pace of consumers' acceptance of or resistance to a product.

1. Observability 2. Trialability 3. Complexity 4. Relative advantage 5. Compatibility

What are the four phases of planning for global marketing, starting from the first phase and ending with the last phase?

1. Preliminary analysis and screening 2. Defining market segments and adapting the market mix accordingly 3. Developing the marketing plan 4. Implementation and control

What are the benefits of global marketing?

1. Reducing the cost of purchasing a product 2. Sharing experience across markets 3. Sharing knowledge across markets

Identify the levels at which cultural differences cause problems in international business negotiations. (Check all that apply.)

1. Values 2. Language and nonverbal behaviors 3. Thinking and decision-making processes

identify the three typical company structures.

1. geographical divisions 2. global product divisions 3. matrix organizations

Identify the factors that influence the performance and structure of direct investment.

1. investment timing 2. knowledge of local firms 3. complicated contracts

Quality is defined on which of the following dimensions?

1. market-perceived quality 2. performance quality

Identify the incentives that induce companies to control solid waste.

1. public pressure 2. political pressure

Examples of companies' green marketing efforts include:

1. using recycled components in products 2. reducing packaging waste 3. reducing the fuel emissions of vehicles

Identify the factors that affect the adoption of certain products by buyers

1.Conformity with buyers' conventions and principles 2.Physical characteristics and functions of the product 3.Conformity with buyers' conduct

In which decade was the market segmentation argument framed as "global integration versus local responsiveness"?

1990's

Select the circumstances that advance conversion in the global pharmaceutical sector

Ability and resources to wait a long time to see results Previous experience launching innovative products Concentration on a handful of significant innovations

Identify the market segmentation dispute in the 1970's

Adaptation vs Standardization

Identify the market segmentation dispute in the 1970s.

Adaptation vs Standardization

The factors that can make important differences in business negotiations are _____

Age and experience

Which statement is true of planning for global markets? A. It encourages hierarchical structure in an organization B. It is a structured way of thinking about anticipated and unanticipated events

B.

In the context of the Product Component Model, identify the elements included in the packaging component.

Brand name Quality Price

Match the phase of planning for global marketing (in the left column) with its description (in the right column). Phase 2:

Branding products keeping cultural specificities in mind

Company information and data are located in one place.

Centralized companies

Match the phase of planning for global marketing (in the left column) with its description (in the right column). Phase 3:

Choosing an approach into a country market

Identify an accurate statement about acceptance of products by consumers in new country markets.

Consumer accept new products fairly slowly

Identify an accurate statement about acceptance of products by consumers in new country markets. Consumer accept new products fairly slowly.

Consumer accept new products fairly slowly.

What must global businesses understand about doing business in emerging markets?

Consumers in emerging countries have a variety of yearly incomes

What facilitates a company's success when innovative products are commercially launched?

Conversion-ability

General planning for a company over a long period of time is called ________

Corporate planning

Match the components of the Product Component Model in the left column to their corresponding examples in the right column: Packaging Component

Cost of Product

Executives have a localized view of the company, not an all-encompassing one.

Decentralized companies

Identify a measure that companies take when corporate objectives do not match foreign market opportunities.

Developing a new company objective to match the opportunity

______ is the process by which market innovation spreads.

Diffusion

What kind of exporting occurs when companies sell products to consumers in another country

Direct Exporting

Identify the statement that relates to the "timing" factor of direct foreign investments.

Early foreign investment in a market has benefits, but it is more uncertain.

In Rovamia, a developing country, companies often had to compromise on quality and cost earlier to make their products affordable to consumers. However, with the increase in per capita income of the country, companies can now maintain the quality of their products without lowering price. Identify a factor that best describes the reason for this shift in Rovamia.

Economic growth

Match the phase of planning for global marketing (in the left column) with its description (in the right column). Phase 4:

Evaluating a firm's operation in a country market

Match the phase of planning for global marketing (in the left column) with its description (in the right column). Phase 1:

Exploratory assessment of potential country markets

True or false: During business negotiations, countries and companies negotiate with each other.

F

True or false: The Japanese are often located in the middle of the scale on every dimension of negotiation

F

T/T: during business negotiations, countries and companies negotiate with each other.

F Companies and countries do not negotiate; people do. Consider the cultures of the customers and business partners, but treat them as individuals.

True or False: Corporate planning plans for the immediate future

False

True or False: Strategic planning takes place only at the lowest level of management

False

True or false: Adaptation is independent of changes in the psychological aspects of a product.

False

True or false: Consumers care exclusively about the physical forms of a product.

False

True or false: Tactical planning is done at the national level and deals with products, research, and long-term goals of the company.

False

True or false: When a product is assessed from a foreign user's point of view, the assessment may cause a misjudgment of the product's cultural significance.

False

Solinol Inc. is one of the largest oil refineries in Europe. Three years ago, it entered the Central African Republic and started production on several oil fields. The access to these oil fields made Solinol one of the largest oil companies in the world. Soon after that, the political situation in the Central African Republic deteriorated. Many of its assets are now under siege by rebel groups. The result has been losses of over $5 billion to Solinoil. In this scenario, the market opportunities for Solinol in the Central African Republic clashed with the _____.

Firm's Business Objectives

Identify the scenario that describes a consortium

Five technology corporations and ten consulting corporations come together to form a telecommunications company in Africa for the first time.

Identify the scenario that describes a consortium.

Five technology corporations and ten consulting corporations come together to form a telecommunications company in Africa for the first time.

Identify an accurate statement about franchising.

Franchisers have some direction over the activities of the franchisees

Identify the characteristics of French negotiators in the simulated negotiation study. (Check all that apply.)

Frequent use of the word "you" Highest usage of threats Frequent interruptions

Identify the major categories of U.S. exports.

Goods that are durable, Goods that are non-durable, and services

Match the components of the Product Component Model in the left column to their corresponding examples in the right column: Support Services Component

Handbook that explains how to use a product

In context of the Product Component Model, identify the elements of the core component

How the product works What the product does

What kind of exporting occurs when companies sell products to a distributor or an importer in the home city

Indirect Exporting

Identify an accurate statement about a joint venture.

It helps an outsider firm comprehend cultural differences and niceties

Identify an accurate statement about a joint venture.

It helps an outsider firm comprehend cultural differences and niceties.

Which statement is true about establishing global operations?

It leads to the creation of innovative methods to attract customers.

Whirling Dervish is a U.S.-based company that manufactures Floor-It, an all-in-one floor-cleaning device that cleans, mops, and shines. The product has been on the market for over a decade and has been very successful and widely accepted by consumers. The company plans to introduce Floor-It to international markets that have few products in the floor-cleaning category. Which of the following should be a concern for the company?

It must realize that Floor-It may be perceived as new in the foreign markets.

Identify a scenario that best describes protectionism.

Limiting the amount of foreign investment in the field of education

Identify an accurate statement about direct foreign investment.

Local firms are able to acquire new technology from foreign investors.

Refers to a consumer's satisfaction with many aspects of a product

Market-perceived quality

Identify the reason for avoiding stereotypes in international business negotiations.

Negotiations are conducted between people rather than national stereotypes.

Refers to a product's ability to carry out its primary function

Performance quality

The primary medium of organizational learning is the _____ process.

Planning

Match the components of the Product Component Model in the left column to their corresponding examples in the right column: Core component

Purpose of Product

Identify an important lesson that stands out from the author's study of negotiation styles

Regional generalizations are usually incorrect

Identify an accurate statement about strategic international alliances (SIAs).

SIAs decrease marketing expenses

identify an accurate statement about strategic international alliances (SIAs).

SIAs decrease marketing expenses

Which factor is crucial in delivering a quality product?

Standardization

_____ planning deals with capital, products, research, and the short-term and long-term goals of the company. The highest levels of management are involved with this type of planning.

Strategic

Identify the components of the Product Component Model.

Support services component Core component Packaging component

_____ planning relates to the allocation of resources used to implement strategic planning goals in particular markets

Tactical

_____ planning relates to the allocation of resources used to implement strategic planning goals in particular markets.

Tactical

________ planning refers to the allocation of resources used to implement strategic planning goals in particular markets

Tactical

Select the hurdles faced by companies that would like to offer services in foreign countries

Tariffs Copyright issues Restrictions of data movement between countries

Give an example of services

Telecommunications and tourism

Identify an accurate statement about the Spanish negotiators in the simulated negotiation study

They used the highest percentage of commands

identify features of Israeli negotiators that were observed in the simulated negotiation study.

They used the lowest percentage of self-disclosures. They frequently interrupted one another during negotiations.

True or false: In the study on the verbal behaviors of negotiators across cultures, the Mexican behavioral pattern was very similar to that of the negotiators from Brazil. True

This statement is false. In the context of the study conducted by the authors on the verbal behaviors of negotiators across cultures, the Mexican behavioral pattern was very similar to that of the negotiators from the United states. The Mexican negotiation style is different from the Brazilian negotiation style.

True or false: A matrix structure encourages transfer of a variety of knowledge throughout the firm.

True

True or false: The problem of locating and overseeing licensees can contribute to the failure of licensing agreements

True

True or false: The problem of locating and overseeing licensees can contribute to the failure of licensing agreements.

True

Licensing is an appropriate choice when _____.

a company wants to enter a country that places strict limits on imports

During face-to-face international business negotiations, people usually nonverbally exchange _____

a great deal of information

Research suggests that multinational firms like to focus on specific regions because _____

a regional focus minimizes problems caused by cultural distance

Research suggests that multinational firms like to focus on specific regions because _____.

a regional focus minimizes problems caused by cultural distance

A joint venture between two multinational corporations helps an international marketer _____.

access a partner's local supply and delivery methods

To maximize satisfactions received from a product, marketers need to _____.

adapt its nonphysical features to suit culture

If there is a difference between cultures of an existing market and a new market, then _____.

adaptation increases

The factors that can make important differences in business negotiations are _____.

age and experience

Planning aids International marketers by __________

allowing them to create guidelines for dealing with both positive and negative business circumstances that may occur

Direct exporting involves selling products to foreign customers, while indirect exporting involves selling products to _____.

another company in the home country that then exports the products

A successful international business negotiator should treat foreign customers and partners

as Individuals

A successful international business negotiator should treat foreign customers and partners

as individuals

The simulated negotiation study indicated that negotiators from northern China emphasized _____

asking questions

The psychological attributes of products are _____.

based on societal norms and values

Product choices tend to _____ when products are culturally delicate or complex.

be decentralized

A strategic international alliance (SIA) is a(n)

business relationship between two or more companies

As a result of direct foreign investment, local companies that are acquired by large multinationals _____.

can export goods to new consumers

The third phase of planning for global marketing involves _____.

choosing a mode of entry into the target country

In the first phase of planning for international marketing, companies _____.

collect information to evaluate the potential of a country market

Give an example of Durable goods

computers and cars

Unlike a joint venture, a consortium _____.

consists of a greater number of companies

Do business in countries where none of the participants have a presence

consortia

Thanks in part to the smartphone, marketplace power is held by

consumers

Glen's, a multinational chain of restaurants, is famous for its steak dishes. In most outlets of Glen's, consumers prefer rare to medium steak. However, in Palatina, consumers prefer well-done steak. The restaurant modifies its recipe to meet the demands of the consumers because the _____ preference of consumers of Palatina is different from those of the consumers of other countries.

cultural

Identify the factor that makes a relevant difference in business negotiations

cultural diversity within countries

In many global companies, a wider portfolio of markets served

decreases revenue instability

The U.S. cake mix company mentioned in the text was successful in England because it

did extensive market research

Investing in a foreign company is a means of foreign market development and entry known as

direct foreign investment

Wavetel, a hardware company based in Europe, acquires Telior, its competitor in a neighboring country. Identify the market-entry strategy that best describes Wavetel's move.

direct foreign investment

Unlike decentralized organizations, centralized organizations _____

direct planning

Give an example of non-durable goods

drugs, toys, and food

The simulated negotiation study found that the Chinese in Taiwan were extraordinary in the _____

duration of facial gazing

The most common complaint heard from American managers regarding foreign clients is that the clients ________

engage in side conversations

When making decisions for international marketing, managers should

ensure that policies define the decisions to be made at each managerial level.

True or false: A product that is perceived as extremely innovative is rapidly accepted by consumers because they appreciate its newness.

false

True or false: Research demonstrates that when choices are centralized, subsidiaries have no impact on business choices.

false

P&L, a French luxury goods company, launched a new line of leather accessories in four countries. The company devised an aggressive marketing strategy to promote this line of products. After 6 months, the CEO of P&L calls a meeting to evaluate the success of the marketing campaigns in each country. In the context of global marketing, this meeting would fall under the _____ of the planning process.

forth phase

P&L, a French luxury goods company, launched a new line of leather accessories in four countries. The company devised an aggressive marketing strategy to promote this line of products. After 6 months, the CEO of P&L calls a meeting to evaluate the success of the marketing campaigns in each country. In the context of global marketing, this meeting would fall under the _____ of the planning process.

fourth phase

Offers information about host country market

franchisee

offers homogenized company products

franchiser

The trend of establishing manufacturing operations around the world will increase when _____.

free trade is allowed

________ is the term used to identify concern with the environmental consequences of a variety of marketing activities.

green marketing

Global Product division

handles product sales throughout the world

Geographical division

handles products within a particular region

Emerging markets may ________

have rudimentary frameworks for doing business

Unlike differences in language, cultural differences in nonverbal behavior are usually _____

imperceptible to most people

In comparison to the other Asian groups in the study on verbal behaviors of negotiators across cultures, the Chinese in Taiwan provided more _____

information in their statements

According to a study conducted on the verbal behavior of negotiators from different cultures in simulated settings, most of the negotiations focused on _____.

information-exchange tactics

According to the study of negotiators across cultures, the northern Chinese negotiators made statements that were classified as _____.

information-exchange tactics

From a sociological point of view, when a group perceives any idea as new, that idea is a(n) _____.

innovation

Deal City, an online shopping portal based in China, supplies cost-effective household products to customers in North America. Identify the type of alternate market-entry strategy that best describes this scenario.

international internet marketing

The study on the negotiating behaviors across cultures revealed that compared to Japanese negotiators, Korean negotiators frequently

interrupted other speakers

One advantage of a matrix structure is that it _____.

involves transfer of knowledge and skills

What is an advantage of franchising?

it allows the parent company to grow quickly

The more innovative a product is observed to be, _____.

it becomes increasingly challenging to acquire consumer approval

In the context of the Product Component Model, an importance of the core component is that _____.

it can be altered to meet local preference

A partnership between legally incorporated entities that join forces to create a separate, legal entity, where each partner holds an equity position, is known as a(n) ______________

joint venture

A partnership of two or more companies with the goal of creating a separate legal entity is known as a ______.

joint venture

Two companies decide to pool their resources and create a company to exploit opportunities in a developing market. Their agreement is a good example of a _____.

joint venture

Do business in countries where the participants have a presence

joint ventures

According to the analysis of verbal behaviors in negotiators across cultures, the style of Japanese interaction is characterized by _____

less aggression and more politeness

According to the analysis of verbal behaviors in negotiators across cultures, the style of Japanese interaction is characterized by _____.

less aggression and more politeness

A product needs a greater degree of change for acceptance if a market is _____ developed.

less economically

Identify a market-entry strategy that will help a multinational company gain entry into a country market that is not receptive to companies with foreign owners.

licensing

Tactical plans are made at the _______ level and addresses marketing and advertising questions

local

Tactical choices for international marketing should be made at the ______ of an organization.

lowest level

Solving translation problems when companies negotiate with foreign companies can _____.

make the negotiations more efficient

A strategic international alliance aids international marketing by _____.

making a company more profitable

Once target markets are chosen, the ______ must be assessed with regard to the information yielded in the first phase of the planning process

marketing mix

Both marketers and communication researchers who study diffusion seek to

minimize the interval between the launch and acceptance of an idea or a product

A culture needs time to accept a new product. This is essential knowledge for marketers because it _____.

minimizes marketers' expectation that profitability will occur quickly

One advantage of clustering operations in specific regions is that clustering _____

minimizes problems caused by varying time zones

The major objective of the second phase of planning for international marketing is to _____.

modify a marketing mix to the cultural realities of the target country

Direct foreign investment will flourish with _____.

more free trade region

In comparison to Japanese negotiators, Korean negotiators used

more punishments and commands

According to the study of verbal behaviors of negotiators across different cultures, the negotiation style of the French negotiators was the _____

most aggressive

To control solid waste, manufacturers in the EU must _____.

offer financial assistance to centrally collect solid waste

In the process of franchising, franchisers _____.

offer management assistance to franchisees

In global marketing, the major objective of the fourth phase of the planning process is to _____.

organize and direct implementation

Joint ventures are

partnerships between legally incorporated entities and not between individuals.

A major element that influence the success of a franchise is

past international experience of the franchiser

The conversational style of Japanese negotiators is typically characterized by _____

periods of silence

Planning for global markets involves:

preparing for unknown and uncontrollable circumstances that mat affect the company

ComfyLife Corp., a manufacturer of home appliances, plans to launch a new line of refrigerators in Murico, a developing region. Because power supply is irregular in that region, the company re-designs its refrigerators so that they can function efficiently even during power failures. This scenario is a possible example of _____.

product homologation

Strategic planning is conducted at the highest levels of management and deals with:

products, capital, research, and the long- and short-term goals of the company

According to the simulated negotiation study, the Israeli negotiators used the highest percentage of _____

promises and recommendations

A culture needs time to accept a new product. This is essential knowledge for marketers because it _____.

provides a time frame to avoid product homologation

A product is a bunch of utilities or satisfactions that a customer receives, including _____ satisfaction

psychological

According to the study on simulated negotiations across cultures, the Germans were low on the percentage of _____

questions asked

Identify a similarity between Russian and Japanese negotiation styles.

rarely using the words "no" and "you"

In global marketing, the results of the first phase of planning help marketers _____

recognize potential issues in a new country market

In global marketing, the results of the first phase of planning help marketers _____.

recognize potential issues in a new country market

A drawback of licensing is that licensees

require supervision

The study conducted on verbal behaviors of negotiators across cultures revealed that the Germans were extraordinarily high in percentage of _____

self-disclosures

The videotaped simulated negotiation study suggested that the Spanish negotiators were low on the percentage of _____.

self-disclosures

Rachel owns a small business that deals in custom wear and accessories. She wants to expand her business worldwide and is launching an online portal under her label. To open an effective online business, she will have to ensure that _____.

she has easy access to delivery services that operate internationally

In a matrix structure, the management _____.

solves problems that happen in any region

Cultural stereotypes should be avoided in international business negotiations because _____.

stereotypes are grossly oversimplified overgeneralizations

A business relationship in which two or more companies share risks in achieving common objectives and cooperate out of mutual need is known as a ______.

strategic international alliance

Wonderscreens Inc., a U.S. based company, is a renowned global manufacturer of laptops. The laptops manufactured by Wonderscreens Inc. fail to gain popularity among consumers in a few countries, and the company does not make the desired profit there. In this scenario, the laptops fail to sell because _____.

the customer does not need or cannot afford the company's product

When a market analyst studies a product's features using the self-reference criterion, _____.

the product's cultural significance may be misjudged

Consortia reduce hazards associated with big investments because _____.

they generally involve a greater amount of participants

The ______ phase of planning for global markets begins with a situation analysis and ends with the selection of specific action plans for a new country market.

third

In the process of franchising, the franchiser _____.

utilizes the franchisee's awareness of the local market

A study of simulated negotiations found that there is a similarity among negotiators across different cultures in _____

verbal bargaining behaviors

"Quality" is defined by customers in terms of _____.

what they want and their ability to pay for it


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