Chapter 5 Marketing

Which of the following is an export driven economy? A)Malaysia B)Philippines C)France D)United States

France

A company requires the assistance of another company. At the end, they both share the risks and rewards fairly equally. This is an example of what entry mode? A)Direct investment B)Exporting C)Joint venture D)Licensing

Joint venture

Why can't Gillette grow its business in the United States? A)Population is growing at a rapid pace B)Population is growing at a slower pace C)Consumers want lower priced products D)U.S. consumers are more price sensitive

Population is growing at a slower pace

A soda company has decided to sell its product in Mexico but has decided not to modify the product and use the same promotional appeal. What form of marketing mix has been used? A)Promotion adaptation B)Standardization C)Product adaptation D)Diversification

Standardization

Which of the following carries the highest risk? A)Exporting B)Joint venture C)Licensing D)Direct investment

Direct investment

Which of the following is a way for a country to enter a global market? A)Treaties B)Exporting C)Tariffs D)Bill of landing

Exporting

What is product adaptation? A)Modifying the product to suit the individual market B)Modifying the product and its promotion C)Targeting a niche market D)Selling a product that the market has not yet adapted to

A)Modifying the product to suit the individual market

An interior decoration company is releasing a new line of white (only) ornaments in China. What could be a problem with this move? A)Colors have a different meaning in different cultures B)Chinese prefer blue C)Standardization is not acceptable to the Chinese D)This is a very positive move

Colors have a different meaning in different cultures

Why is it more difficult to meet customers' wants and needs on a global scale? A)Culture, traditions, and preferences B)Trends, supply, and productivity C)Restrictive trade agreements D)Lack of interest from other markets

Culture, traditions, and preferences

What is the next step after figuring out an entry mode? A)The extent of modification needed in the marketing mix B)Understand what products to sell C)Figure out the marketing trends in that country D)Understand the regulation and policies in the foreign country

The extent of modification needed in the marketing mix

What is a way for countries to trade efficiently with other countries? A)Treaties B)Tariffs C)Quotas D)By providing armed support

Treaties

If iPhones are an American product, why are they manufactured in other countries? A)To have access to more customization B)To increase supply C)Cheaper labor D)Production is faster

cheaper labor