International Business Chapter 16

What kind of demand is seen when a small change in price produces a large change in demand?

elastic

Which of the following is not an argument in favor of standardized advertising?

Cultural diversity makes it hard to develop advertising themes that are effective around the world.

Which of the following is a drawback of a push strategy?

It can be expensive when the distribution channel is long.

Which of the following is true of price discrimination?

It involves charging whatever the market will bear.

Which of the following is a definition of market segmentation?

It refers to identifying distinct groups of customers whose needs, wants, and purchasing behavior differ from others.

_____ is/are an element of a firm's marketing mix.

Product attributes

The developing country of Nambodia has a retail system that has many independent retailers, no one of which has a major share of the market. What is Nambodia's retail system called?

fragmented

In deciding on the firm's distribution strategy in the United Kingdom, Arlene Smith of Wendell Products found that the country's retail sector was very concentrated. When the retail sector is very concentrated

it makes sense for a firm to deal directly with retailers, cutting out wholesalers.

Which of the following marketing strategies relies on access to advertising media?

pull strategy