Harmony is working on a prototype of a new resin chair to be marketed to the hospitality industry in the Middle East. Her chair is in the ______________ phase of the product life cycle.research and developmentintroductiongrowthmaturity3 points QUESTION 2The two dimensions of the consumer’s perceived price of a product include ________________________________. core price and supplemental priceretail and wholesale pricescompany and consumer pricesmonetary and non-monetary prices3 points QUESTION 3Adeena is finalizing her distribution strategy in Indonesia, and is developing statistics regarding local regulations, the competitive climate, and consumer shopping habits there. Adeena is assessing ________________________.the stage of the product life cycleboth internal and external factorsinternal factorsexternal factors3 points QUESTION 4As Vice-President of Global Marketing, Jeanine is reworking her company’s marketing strategy. Currently, her firm analyzes the results of each of their promotional elements individually. Jeanine asserts that a cross-functional view of the company’s marketing communications is far more pertinent. Jeanine is an advocate of _________________________.integrated marketing communicationsmarketing mix modelingmarketing impact analysisthe marketing mix3 points QUESTION 5When marketers of wallpaper discovered that customers in North America used the product purely for decorating purposes, and customers in eastern Europe purchased the product primarily to cover flaws in the structure of aging housing stocks, they identified a difference in all of the following except _____________________________. product use functionproduct utilization levelproduct use conditionsproduct use situation3 points QUESTION 6A combination of price and prestige sensitivity in China has contributed to _____________________________________.an inability for U.S. firms to be successful therea large black market for counterfeit brandslarge and rapid profitability for foreign firms entering the Chinese marketa lack of interest in prestige brands3 points QUESTION 7In Europe, products such as milk, snack foods, and cigarettes are purchased with high frequency, and found in almost every possible outlet. The distribution strategy used for these types of items would be ____________________.selectiveexclusiveintensivespecialty3 points QUESTION 8Polson Papers produces paper substrates for the production of gift wraps, wallpaper, and other products for the print industry. It does business in over 150 countries and its products are utilized for the same purposes in each of its many markets. Polson can be considered a________________________________. global brandmultinational branddomestic brandmultidomestic brand3 points QUESTION 9Crawford Plumbing Products markets toilets to such diverse countries as Canada, Japan and Syria. For each market, the toilets are designed to accommodate differing levels of water pressure, technical installation capability and local customs and traditions that dictate design. Crawford’s global strategy is one of __________________.adaptationmass customizationnationalizationstandardization3 points QUESTION 10As Hans calculates his final price for the introduction of his fishing gear into Australia, he assesses the impact of freight forwarding, import duties and country-of-origin marking. Hans is assessing ______________________.finance chargesexport-related chargesproduct development costsfixed costs3 points QUESTION 11If Wendy is assessing her distribution network on the basis of the types of retailers to whom she sells; for example, convenience stores, department stores, and discount outlets, she is analyzing channel ________________.standardizationwidthlengthdirectness3 points QUESTION 12Brands that have built a powerful appeal that transcends their national origins and product categories are referred to as _______________________.superbrandsprivate label brandsmaster brandsglocal brands3 points QUESTION 13The optimal level of standardization / adaptation is found __________________________________. when customer satisfaction is at its lowest levelwhen the combined costs of manufacturing and lost sales are at a minimumwhen customer satisfaction is at its zenithwhen lost sales are minimized3 points QUESTION 14The addition of channel intermediaries in an export transaction will usually result in ___________________________________. increased profitability or decreased pricesincreased consumer prices or decreased profitabilityan unprofitable export transactionretail prices too high to generate sales3 points QUESTION 15Invotech sells the latest in large scale printing equipment to wallpaper producers, who depend on the firm for continuous service and technical support. Invotech’s best option for distribution involves ________________________.three-tiered distributionindirect sales involving distributors and retailersindirect sales involving distributorsdirect sales through an internal sales force3 points QUESTION 16The theory that presents a brand in the context of local cultural values and tastes will allow more people to identify with the brand is the keystone of ___________________________.global advertisingInternet advertisingadapted advertisingstandardized advertising3 points QUESTION 17When country markets exhibit different legal and/or technical standards, ___________________________.the markets must be eliminated from consideration as target marketscustomization of the product is requiredstandardization is neededadaptation is rendered ineffective3 points QUESTION 18Coordination of prices across countries often results in the reduction of _________________________.gray market importscustoms dutiesdistribution channel partnersprofitability3 points QUESTION 19Wal-Mart stores depend in large part on their suppliers to monitor Wal-Mart’s inventory levels at their various distribution centers. When supplies of a particular product are diminished, it is up to the suppliers themselves to place reorders on behalf of Wal-Mart. This arrangement would reflect the cooperation found in _______________.traditional marketing systemhorizontal marketing systemdiagonal marketing systemvertical marketing system3 points QUESTION 20Specific global groups of consumers with common interests are best targeted with ________________________.digital medianon-customized advertising messagesprint mediatelevision3 points QUESTION 21Style and design, color, product quality and country of origin are considered ______________________.brandingservice attributesadaptation attributesproduct attributes3 points QUESTION 22When Ralph Lauren markets both its designer Ralph Lauren fashions to high end boutiques in global markets, and also markets the less expensive Lauren by Ralph Lauren brand to department stores in North America it is utilizing a __________________.two-tiered pricing strategynon-prestige pricing strategydirect sales strategywholesale pricing strategy3 points QUESTION 23When manufacturers create sales branches and offices that perform the wholesale function, they are creating a(n) ______________ VMS system.contractualarm’s lengthadministrativecorporate3 points QUESTION 24The regulatory bodies that monitor and control advertising have been established to serve all of these functions except ___________.harmonize global product specificationsascertain that products advertised are legalensure that claims made by advertisers are accuraterespond to public complaints3 points QUESTION 25The creation of ISO 9000 is one attempt to create ____________.global standards harmonizationnon-tariff barriersglobal legislation of product performancelocal product standards3 points QUESTION 26Marta is purchasing document scanners for her company’s Greek headquarters building. The U.S. company supplying her has quoted her in U.S. dollars. Marta is incurring ____________ in proceeding with the deal as specified.exchange rate riskimport dutiesdistribution channel risknon-currency risk3 points QUESTION 27Hernando works for Global Industrial Sales Corporation. He sells a large number of diverse but related product lines for manufacturers that produce construction-related products. Acting on behalf of the manufacturers, he obtains sales contracts and forwards them directly to his principals without taking title to the goods. Hernando is compensated via commission on sales. Global Industrial Sales Corporation represents a(n) ____________________________.retailerdistributorwholesaleragent3 points QUESTION 28Cost-effectiveness, market knowledge and superior creative work are some of the advantages associated with ____________________________.doing business in a single global marketin-house development of global campaignsthe use of advertising agencies for global marketing.the use of the Internet for global marketing campaigns3 points QUESTION 29When a global company’s brand-value is greater than its revenue, ______________________________. it would avoid global branding in order to protect its domestic market positionit would be unlikely to exploit the situation by implementing global brandingit is prone to exploit the situation by implementing global brandingit will have greater difficulties implementing global branding3 points QUESTION 30One benefit of a weakening domestic currency is ___________________________________. greater stability in foreign currency transactionsthe increased price of exports to foreign marketsthe increased value of domestic assetsan increase in exports to foreign markets3 points QUESTION 31When CCD Industries buys cleaning products from KleenRite Chemicals and resells them to the hospitality industry, they are performing a(n) ____________ function.retailerindustrial agentwholesalermanufacturer’s representative3 points QUESTION 32Imported products with a global luxury image are often best-served by adapting _________________ to a new foreign market.a brand customized for each target marketa different brand namea logo without a brand nametheir original brand name3 points QUESTION 33During the introduction stage of the product life cycle, the company begins to offer a wider selection to stimulate demand for the specific brand. True False3 points QUESTION 34Socio-economic and political country characteristics are among the controllable elements that can influence a company’s pricing strategies and policies. True False3 points QUESTION 35The stage of the product life cycle in which your product is currently operating is one consideration in distribution strategy development. True False3 points QUESTION 36Marketing consumer services, as opposed to marketing products globally also tends to be more effective when advertising is localized. True False3 points QUESTION 37The costs of manufacturing are high in the case of standardization and decrease when a company begins to adapt its products to local needs. True False3 points QUESTION 38The Economist’s Big Mac Index measures purchasing power parity. True False3 points QUESTION 39Online purchases are typically confined to products like books and airline tickets. True False3 points QUESTION 40Most global advertisers prefer not to hire local ad agencies for each market they enter. True False
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