International Business Chapter 16 - True or False

True

A company frequently defines a target market for its products and then attempts to meet the specific needs of the customers in that target market.

True

A market consists of the likely customers for a good or service in a certain geographic location.

False

A market segment is the price of a company charges for its product.

True

A marketing plan describes the marketing activities of an organization.

True

A person's age and income are examples of demographic data.

False

A product is usually sold at the same price everywhere in the world, although the price is converted to local currency.

False

Advertising, pricing, and distribution of services are the same as for the marketing of good.

False

After the marketing plan is completed, the human resources department must determine whether there are sufficient human resources to fulfill the marketing plan.

False

Automated production systems usually make it more difficult for a company to set up a manufacturing plant in another country.

True

Businesses often expand into other countries to develop new markets to maintain and expand profile.

False

Computer networks, the Internet, video teleconferencing, and other advances in communications systems have had little impact on international business.

True

Consumer behavior is really quite complex and involves several factors.

True

Consumer demand can be affected by high inflation.

False

Consumers in different countries may have different personality and psychographic factors, but consumer physical and emotional needs are the same in all countries.

False

Distribution is an example of a marketing activity.

True

Failing to meet the time line of a marketing plan can result in a marketing failure.

True

Food is a physical need that influences consumer behavior.

False

Individual buyers of goods and services are commonly called commercial markets.

False

Psychographics involve human behavior factors based on population characteristics.

True

Several countries that used to have communist governments are interested in new trading partners in other parts of the world in order to achieve economic growth.

True

Social experiences can result in different consumer psychographics from country to country.

False

The first step in the marketing process is to plan the marketing strategy.

True

The infrastructure of a country can affect the marketing plan.

True

The marketing mix consists of product, price, distribution, and promotion.

False

Transporting, storing, and sorting are part of the promotion component of the marketing mix.

`False

Usually, the advertising for a product can be the same in every country as long as the language in changed.