Question

QUESTION 26

Marketing can be defined as

		simply being better than the competition.
		the activities involved in selling better than the competition.
		the activities involved in marketing better than the competition.
		the activities involved in assessing and satisfying customer needs.

2 points   

QUESTION 27

When Campbell's leverages its core competency of making soup adding new products such as "Cup of Soup" or "Chunky" it is using a product development strategy known as

		product line expansion.
		product line extension.
		product line adaptation.
		product line innovation.

2 points   

QUESTION 28

Porter's Five Forces include

		supplier power, buyer power, distributor power, customer power, and competitor power
		substitute products, rivalry, threat of new entrants, competitive superiority, and government relations.
		threat of new entrants, threat of new suppliers, threat of domestic competition, threat of rivals, and threat of customer boycotts.
		supplier power, buyer power, substitute products, threat of new entrants, and rivalry.

2 points   

QUESTION 29

The very first step in market screening for international expansion is

		ranking foreign markets by population
		identifying indicators of selection criteria.
		converting data to manipulate criteria.
		determine the value of indicators.

2 points   

QUESTION 30

A marketing plan geared towards glorifying achievement and success is a good fit for a culture with

		a language bridge.
		low uncertainty avoidance.
		high power distance.
		high masculinity

2 points   

QUESTION 31

What are examples of firm-level factors that would fundamentally influence a firm's international pricing strategies?

		Competitive pressures, cost structure, and life-cycle stage
		Strategic objectives, competitive pressures, and cost structure
		Cost structure, life-cycle stage, and demand
		Life-cycle stage, demand, and product line

2 points   

QUESTION 32

As a firm expands internationally, the local laws in a foreign market may impact which areas of marketing?

		Product, pricing, promotion, and distribution.
		Pricing, promotion, and distribution, but generally not product.
		Product, promotion, and distribution, but home country laws primarily affect pricing.
		Pricing, promotion, and distribution, but home country laws primarily affect product if the product is manufactured in the firm's home country.

2 points   

QUESTION 33

Assume a U.S. international marketing manager discovers that the firm's sales representative in India has paid a large bribe to an Indian friend working at a company in order to get a sale. Should the manager be worried the bribe is in violation of U.S. law?

		Yes. It is likely a violation of U.S. law.
		No. It is not a violation of U.S. law.
		Only if the bribe was solicited by the Indian business friend.
		Yes, if the sales representative is a U.S. citizen.

2 points   

QUESTION 34

When a service company enters a new foreign market, it will likely need to

		acquire a local competitor.
		significantly raise prices over those in its home market.
		establish a local presence and hire local employees.
		use automation as much as possible to provide services.

2 points   

QUESTION 35

What are country-specific factors that contribute to the competitiveness of a service industry in a particular country?

		Low inflation, low labor wages, and strong trademark protection
		Low inflation, low labor wages, and strong GDP growth
		Large populations and strong GDP growth
		Labor availability, low capital costs, technology, and firm-specific factors

2 points   

QUESTION 36

The multidomestic perspective refers to

		treating each market that a firm sells to as a separate and distinct market.
		a joint venture between two multinationals from the same country.
		the way multinational firms market their products.
		selling in many regions in a country

2 points   

QUESTION 37

As a firm develops its global marketing strategy, which strategic perspective is likely more justified when consumer needs vary significantly between foreign markets?

		Market-extension
		Global
		Multidomestic
		Value chain

2 points   

QUESTION 38

Which of the following factors would most likely lead a firm to standardize its products for international markets?

		Various technical standards across markets
		Different usage factors between markets
		Government regulations requiring local content
		Economies of scale in production

Answer 1

26. the activities involved in assessing and satisfying customer needs.

27. product line extension.

28. supplier power, buyer power, substitute products, threat of new entrants, and rivalry.

29. identifying indicators of selection criteria.

30. high masculinity

31. Strategic objectives, competitive pressures, and cost structure

32. Product, promotion, and distribution, but home country laws primarily affect pricing.

33. Yes. It is likely a violation of U.S. law.

34. establish a local presence and hire local employees.

35. Labor availability, low capital costs, technology, and firm-specific factors

36. treating each market that a firm sells to as a separate and distinct market.

37. Multidomestic

38. Various technical standards across markets