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Exam 16: Marketing in the Global Firm

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Question 31

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Promotional activities are typically long-term marketing activities.

A) True
B) False

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Question 32

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The root cause of gray market activity is ________.

A) a firm's ability to control production and distribution costs
B) a difference in price between national distributors
C) the dominance of substandard products in local markets
D) a significant difference in price of the same product between two countries

E) A) and C)
F) None of the above

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Question 33

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Prices can affect customers' perception of value.

A subsidiary is most likely to receive favorable treatment from an MNE if it is located in a country with ________.

Gray market activity often leads to enhanced brand equity.

When is a standardized marketing approach the most appropriate? Define global brand.

________ refers to a marketing strategy in which the firm develops both the product and its marketing to evoke a distinct impression in the customer's mind, emphasizing differences from competitors' offerings.

Rigid cost-plus pricing refers to setting prices to cover only the firm's variable costs, but not its fixed costs.

The longer the channel, the fewer intermediaries the firm must compensate.

What is market segmentation? In a short essay, discuss how international firms use market segmentation.

Galaxy Inc., a reputed global conglomerate, has suffered substantial losses in recent months owing to the problem of end-user prices shooting high up in the export market. In order to regain its competitive advantage abroad, Galaxy must ________.

In which of the following industries is standardization more likely NOT to be pursued?

Promotions usually require a high level of intermediary or retailer sophistication to succeed.

All of the following are true of global new-product planning teams EXCEPT ________.

________ is the process of dividing the firm's total customer base into homogeneous clusters in a way that allows management to formulate unique marketing strategies for each group.

Refrigerator Adaptations (Scenario) Cold-Aire Inc. manufactures refrigerators from its facilities in the United States and China and ships them to retail stores around the world. Kitchen sizes vary around the world, and as a result, refrigerator sizes must vary as well. U.S. retailers want large refrigerators, while European and Asian retailers demand smaller units. Cold-Aire manufactures over 20 different models of refrigerators, which often vary in size by only a few inches. Cold-Aire managers are concerned that the firm is losing money because of product adaptations. Cold-Aire management is meeting to discuss the various cost-saving options for the firm. -Which of the following would most likely be a result of increased standardization of Cold-Aire refrigerators?

A standardized marketing approach is appropriate when products have universal specifications.

Which of the following refers to an advantage of firms that enter new markets through FDI?

When managers attempt to standardize their international marketing program, they can expect ________.

Explain the purpose of positioning. How does a global positioning strategy assist firms participating in international business? What benefit does a global positioning strategy offer?