Global Marketing Exam #1
Which of the following is NOT listed among the academic sub-disciplines related to marketing?
Cost analysis
Of the following uncontrollable variables of marketing, three have both DOMESTIC and FOREIGN counterparts. Of the following four uncontrollable variables, which is the factor that is significantly more critical in INTERNATIONAL marketing than in DOMESTIC marketing?
Cultural forces
Which is the fourth-most populated country in the world?
Indonesia
Which of the following statements is TRUE?
The current level of globalization is unprecedented.
In terms of nominal GDP, which of the following countries (or regions) has the highest GDP?
USA
Business partners from which of the following countries/regions of the world are most likely to react negatively to a proposal for drawing up a detailed contract at the very outset of a joint operations in international trade?
china
define internal marketing
focuses on the process of aligning, motivating, and empowering employees at all levels of management levels so the org. can deliver better
define integrated marketing
is based on the postulate that all functional areas and departments within an organization contribute to the value and the brand image of a market offering.
The U.S. GDP
is roughly $18.5 trillion as of 2016
Goods and services are often collectively referred to as ____.
market offerings
In the four P's of marketing, which factor includes advertising and publicity?
promotion
What is "dead man consuming"?
shows our consumer selves extend even beyond our actual life spans
Define dyad
something that consists of 2 elements or parts -- an exchange needs a min. of 2 parties
Define Marketing concept
urges business to first uncover the needs and wants of the consumer, and then, and ways of adapting the business to meet those needs and wants.
In the schematic representation of the flow of resources between two parties in a marketing transaction, which of the following is bi-directional?
value
Define Selling Orientation
which focuses on informing and educating consumers about the various nuances of the brands and products a business organization might have to offer. // danger of the consumer not being interested in the product during said time
Negatives to the 4 p's of marketing
1) does not go far enough 2) looks @ marketing from the POV of orgs and markets
The _______ urges business to first uncover the needs and wants of the consumer, and then, find ways of adapting the business to meet those needs and wants.
Marketing concept
According to Lesson 1, (Benefit-Cost) equals which of the following?
Value
In the flow of resources between two parties in a marketing transaction, which of the following only flows is bi- directional?
Value
Features of "Place" P
channels, locations, logistics, inventory
Features of "Product" P
design, services, quality, brand name
define relationship marketing
devoted to creating long lasting relationships with consumers
Features of "Price" P
discounts, bundling, financing
Define a market
it is a place or a gathering, where things are bought and sold. Broadly, these "things" that are bought and sold may be products (i.e., tangible goods) or services (which are intangible or non-physical).
Nature of Marketing
1) a major "organizational function" 2) one of the key areas among others, that
Define Societal Marketing Concept
1) can be thought of as an updated, and more enlightened, version of the marketing concept. 2) In this perspective, in addition to the needs and wants of the consumer, the well-being of the consumers and society as a whole receives significant attention.
Ideas of Holistic marketing (RIIP)
1) relationship marketing 2) internal marketing 3) integrated marketing 4) performance marketing
The four preceding factors of marketing
1) the ubiquity of marketing 2) the continual nature of it 3) the social significance of marketing 4) its economic significance
Which of the following figures (in trillions of $) is closest to the actual GDP of the USA?
18
Which of the following is the largest US public corporation, based on market value?
Berkshire Hathaway
When measured in terms of purchasing power parity, which of the following countries/regions has the highest GDP?
China
Performance marketing is a component of which of the following?
Holistic marketing
Which of the following was the largest company in the world according to the Forbes Global 2000 list?
ICBC
The 4 P's of marketing
Product, Price, Place, Promotion
Which of the following orientation/philosophies of business is associated with the institution of Henry Ford's moving assembly line?
Production Orientation
Of the different business orientations (or "philosophies"), which is the one that precedes all others (i.e., which came first)?
Production orientation
Define marketing management
Professors Philip Kotler and Kevin Keller define marketing management as "the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value."
Which of the following seeks to create and maintain customer loyalty?
Relationship marketing
Which of the following is NOT one of the components of the Holistic Marketing Concept?
Reverse Marketing
In the context of international marketing, which of the following refers to an unconscious reference to one's own cultural values, experiences, and knowledge as a basis for decisions?
Self-reference criterion
Technically, a market is defined as ____.
a sum total of all the buyers and sellers in an area or region
Features of "Promotion" P
advertising, sales force, publicity
Define Production Orientation
as its emphasis on increasing efficiencies in manufacturing (as well as distribution), lowering costs, achieving high levels of quality control, through mechanization and mass manufacturing. // does not go far enough though due to technology
According to Professors Kotler and Keller, marketing management is ___.
both, an art and a science
Which of the following countries is the second-largest trading partner of the USA?
canada
Which of the following is most representative of a WANT (rather than a NEED)?
caviar
One of the reasons why we seem to be unable to step outside of our role as a consumer, even for a single moment, is because consumer behavior is ______.
continual
The 4 P's of marketing are referred to as the _______ variables.
controllable
How countries trade goods and services with each other is well predicted by a theory, which suggests that countries should produce and export that which it can produce at the lowest opportunity cost. This theory originates from which of the following disciples?
economics
define performance marketing
emphasizes business should pay attention to their financials -- meaning how they grow in the market, customer loss rate, changes in brand image
John Donne's quote "No man is an island"
emphasizing how essential sociability is in the lives of human beings
Which of the following is an internal impediment to marketing?
ethnocentrism
The American Marketing Association (AMA) defines international marketing as "The _______ process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives."
multinational
If we use the US dollar to measure the value of goods and services in the computation of GDPs of all the countries of the world, we are using the ___ approach.
nominal
The American Marketing Association's (2013) definition of marketing appears to adopt a ______ perspective toward the discipline of marketing.
process-centric
In the context of marketing mix variables, which of the following includes considerations of brand name, packaging, design, and features?
product
"build a better mousetrap and the world will beat a path to your door"
said by RW Emerson, became the watchworld for the product orientation era and inspired countless inventors and entrepen.
The USA has a surplus in BOT when one considers the export/import of which of the following sectors?
travel related services and transport
