MAR 3803 CHP 2 SMARTBOOK

Quality, fitting the product to the culture, brand strategy, and country of origin are all ______-related issues for companies moving into global consumer markets. distribution consumer production market

Consumer

Which term describes a firm's behaviors and strategies that are undertaken in order to have a positive impact on the world? corporate social responsibility triple bottom line global marketing societal marketing

Corporate Social Responsibility

Specific economies that have fueled world economic growth for much of the 20th century are referred to as __

Developed economies

True or False: The global experience learning curve is a linear process; companies only advance to the next stage upon completion of the previous stage.

False

_______marketing is the stage of the global experience learning curve that involves developing local distribution and service representation in a foreign market.

Foreign

What describes the situation when a firm develops local distribution and service representation outside its home market, either through local intermediaries or its own marketing and sales force? independent marketing global marketing foreign marketing international marketing

Foreign marketing

The ________ is the process by which an understanding of marketing beyond home markets develops over time as a company gains more international business. global experience learning curve country-of-origin effect international expansion cycle degree of centralization

Global Experience learning curve

A______ marketing company realizes that all world markets (including the company's own domestic market) are, in reality, a single market with many different segments.

Global Marketing

What stage of the global experience learning curve is a firm in when it makes the commitment to manufacture products outside its domestic market?

International marketing

in taking a company global, the next step after selecting a country is to send workers from the home country to work in the foreign country pay bribes or other fees to local politicians adapt existing products to the new market launch an extensive advertising campaign develop a comprehensive marketing strategy-

develop a comprehensive marketing strategy-

Many companies have to rethink their_____ strategy when they enter global markets and find inadequate transportation networks, poorly organized distribution systems, and fundamentally different channel structures.

distribution

Which phrase is often used to summarize the goals of sustainability? "First people, then money, then things" "Focusing on the bottom line" "Being first to market" "Doing well by doing good" "Throwing caution to the wind"

doing well by doing good

Exporting, contractual agreements, strategic alliances, and ownership are all ways to _____ expand a product line in a foreign market structure a foreign enterprise recruit a foreign labor force enter foreign markets

enter foreign markets

True or false: Most companies can successfully adapt their existing marketing strategies to international markets.

false

Which of the following are four product issues facing international consumer marketers? Select all that apply. fitting the product to the culture - quality - brand strategy - channels of distribution country of origin-

fitting the product to the culture quality brand strategy country of origin

Market selection criteria regarding the competitive environment include size of the labor force future growth rates- size of the target market- local and global competitors- current market share

future growth rates size of the target market local and global competitors

When a company realizes that all world markets (including the company's own domestic market) are, in reality, a single market with many different segments, it has entered which stage of the global experience learning curve?

global marketing

Adjusting only the color and language of advertising to local market conditions is called a Blank______ strategy.

global marketing themes

A strategy in which a basic template is used for global ads that allows for slight modifications depending on local markets is a(n) _____ theme global marketing with local content local market ad generation basket of global advertising global marketing

global marketing with local content

According to the American Marketing Association, what are the six primary ethical values?

honesty citizenship fairness responsibility transparency respect

When deciding to enter a foreign market, decision makers are particularly interested in knowing the size of the investment and _____ the size of the labor force in the foreign market how long it will take to be profitable in the new market- the standard of living in the new market the legal holidays celebrated in the foreign market the new market's endowment of natural resources, such as wood and minerals

how long it will take to be profitable in the new market-

In developing a global market strategy, the first decision that needs to be made is how to hire talented managers in the foreign market how to convince stockholders that international expansion is a good idea how to prevent the stock price from plunging how to work with foreign currencies how to enter the market

how to enter the market

The global experience learning curve moves a company through which of the following four distinct stages? international marketing- global marketing- companies with no foreign marketing companies with foreign marketing- multinational regional market zones firms directly investing in foreign companies-

international marketing global marketing companies with no foreign marketing companies with foreign marketing

Which of the following are key company characteristics to consider in global market expansion? management style- tax liabilities philosophy- resources- objectives-

management style philosophy resources objectives

Worldwide distribution networks, sophisticated communication tools, and the Internet have resulted in _____ regulations that have hindered firm' from expanding beyond their local market more companies expanding into global markets smaller firms being unable to compete with large corporations reduced competition in the marketplace

more companies expanding into global markets

When a company does business with international customers through intermediaries, however, with no formal international channel relationship, or limited direct contact, then the company has ______. global marketing foreign marketing no direct foreign marketing international marketing

no direct foreign marketing

Pricing in which the company assigns one price for its products in every global market is called _____ one-global pricing local-market-conditions pricing price escalation pricing cost-based pricing

one global pricing

Which of the following are key company characteristics to consider in global market expansion? (Select all that apply) corporate diversity organization- products- management/marketing skills- financial limitations-

organization products management/marketing skills financial limitations

A key ethical issue in the development of product strategy concerns______. differing consumer tastes and preferences statistical modeling procedures generally accepted accounting principles privacy and security of data the use of market research

privacy and security of data

Direct extension, adaptation, and invention are basic ______ options available to companies seeking global market expansion. Multiple choice question.

product

The three components of the triple bottom line are people, planet, and

profit

Select the five types of information that global market research focuses on? specific market conditions business environment political and legal culture, societal trends domestic operations economic

specific market conditions business environment political and legal culture, societal trends economic

What are three benefits that companies receive from behaving ethically? strong customer relationships- a lower stock pric greater employee loyalty- increased financial performance- heightened scrutiny by the media

strong customer relationships greater employee loyalty increased financial performance

The concept ____of includes all business practices that seek to balance business success and societal success over the long term.

sustainability

What is corporate social responsibility?

the behaviors and strategies a firm takes in order to have a positive impact on the world

In the global experience learning curve, what marks a firm's shift toward international marketing? treating the world as a single, unified market that may or may not fall along countries' political boundaries developing local distribution and service representation in a foreign market the decision to manufacture outside its home markets- the decision to keep the firm local but market internationally through the use of a website

the decision to manufacture outside its home markets

Which two of the following are considered vulnerable markets?

the elderly and the children

The _____ is a metric for evaluating not only a company's financial results but also broader social equity, economic, and environmental considerations.

triple bottom line

True or false: In terms of customers' perceptions of the value proposition, trust develops slowly but is lost quickly.

true

Well-coordinated transportation and logistics systems lower distribution costs and increase customer choice at the point of sale.

true

In marketing, benefits minus cost equals ______.

value

What are the three primary organizational patterns employed by organizations around the world? decentralized centralized regionalized global functional

decentralized centralized regionalized

A group of countries that create formal relationships for mutual economic benefit through lower tariffs and reduced trade barriers is called a(n) ______. developed zone strategic alliance regional market zone emergent market

REGIONAL MARKET ZONE

_____,_____,______ consist of a group of countries that create formal relationships for mutual economic benefit through lower tariffs and reduced trade barriers.

Regional Market zones

The foreign marketing stage can develop in one of two ways. What are these two ways? The firm finds a competitor willing to share the cost of local intermediaries and thereby reduce direct marketing costs. The firm establishes its own distribution center to handle all of its business in the international markets it wants to do business in. The firm establishes its own direct sales force in major markets, expanding its direct market reach.- The firm identifies local intermediaries in appropri

The firm establishes its own direct sales force in major markets, expanding its direct market reach.- The firm identifies local intermediaries in appropriate international markets and creates a formal relationship.-

In taking a company global, the next step after selecting a country is to_______. adapt existing products to the new market launch an extensive advertising campaign develop a comprehensive marketing strategy- pay bribes or other fees to local politicians send workers from the home country to work in the foreign country

develop a comprehensive marketing strategy

What two countries are considered developed economies?

USA AND JAPAN

Which of the following are reasons world markets have opened up to more foreign competition? Worldwide distribution networks- Greater product standardization- Customer homogeneity The internet- Sophisticated communication tools- Greater emphasis on local markets

Worldwide distribution networks Greater product standardization The internet Sophisticated communication tools

Match the degree of centralization to its correct characteristics.

centralized structure: offers greater control and more consistency across the organization decentralized structure: offers a hands-on management approach that facilitates rapid response to changing market conditions regional structure: centralizes key functions while pushing decision making closer to the global market