MKTG 3650 EXAM #3 COMPLETE
QUESTIONS AND CORRECT
ANSWERS
\.Which of the following are considered to be economic factors affecting a firm's
global marketing strategy? - ANSWERS✔-Gross domestic product
Per capita income of individuals
Exchange rates
Infrastructure
All of the above (correc
\._________ entails selling a product in a foreign market at prices substantially
lower than it is priced in the domestic home market. - ANSWERS✔-Dumping
\.McDonald's product menu and its promotions vary greatly across the different
countries in which it operates. The firm sensibly focuses substantial marketing mix
attention on delivering products and messages that are popular and culturally
acceptable across various nations and regions. McDonald's is using a(n) ______. -
ANSWERS✔-Dual customization strategy
\.Which of the following is false concerning the importance of global marketing? -
ANSWERS✔-Most large international firms are headquartered in the US
,\.In Russia, greeting cards are not sent to men celebrating their 40th birthdays.
Traditional Russians still honor the belief that big events or gestures intended to
celebrate this milestone are tantamount to inviting "the Death" into his life.
Hallmark does not produce and sell 40th birthday greeting cards in Russia.
Hallmark is using a _________ for tapping the Russian market. - ANSWERS✔-
Product adaptation strategy
\.South Africa's De Beers, the world's largest diamond producer, uses glossy high-
image advertising with little copy in upscale publications to convey its prestige
messages in all international markets served. The same message and associated
marketing program are employed in all its markets. De Beers is using a ______. -
ANSWERS✔-Straight extension strategy
\.In India, LG introduced refrigerators that featured larger vegetable and water-
storage compartments; electric surge-resistant power sourcing; and gaudily
colored finishes that reflect regional preferences inside India. In Iran, LG markets a
microwave oven that boasts a shish kebob preset button—makes sense, since this
is a favorite dish throughout most of the Middle East. These are examples of
____________ impacting a firm's potential global marketing strategy. -
ANSWERS✔-Cultural differences
\.The disadvantages of licensing as a means for US firms to enter foreign markets
include: - ANSWERS✔-Reduced control over how it's products are produced and
marketing in the foreign country
An alternative entry strategy may have been more profitable, particularly if the
product gains substantial sales
After developing an expertise and market for the licensed product, the licensee
may break from the licensing arrangement and become a direct competitor with
the US-based firm in the foreign market.
,All of the above. (correct)
\.Which of the following is a key question a firm must address when deciding
whether it should "go global?" - ANSWERS✔-Can the firm adapt its business
model to accommodate differences in global cultures and supply chain structures?
Can the firm identify, understand, and effectively respond to differences in
consumer preferences and buying behaviors in global markets?
Does the firm have the relevant expertise and experience to target global
markets?
Is the firm capable of managing and responding to the varying legal requirements
in global markets?
All of the above must be addressed. (correct)
\.Which of the following is not a key question a firm must address when deciding
whether it should "go global?" - ANSWERS✔-Can the firm be sure that it can use
its current business model in global markets?
\.Organizations that operate in more than one country and consequently secure
marketing, production, NPD, research and development, financial or supply chain
advantages that are not available to firms operating in purely domestic markets
are engaged in ________. - ANSWERS✔-Global marketing
\.Ford Motor, recently introduced a new, low-priced, and smallish model called
the Figo in India. The Figo is targeted at tens of millions of Indian consumers who
are only now able to afford their first car. This is an example of ____________
impacting a firm's potential global marketing strategy. - ANSWERS✔-Economic
factors
, \.Counterfeiting technology has made it easier for counterfeiters to make better
fake copies of legitimate brands. In fact, Jack Ma (Alibaba founder) has gone on
record saying the many counterfeits are made in the same factories using the
same materials as authentic brands. Such counterfeits have been called
_________ . - ANSWERS✔-Super fakes.
\.Which of the following countries is responsible for producing the majority (86%)
of counterfeit brands flooding international markets? - ANSWERS✔-China
\.Some domestic US firms contract with partner firms in foreign markets for
purposes of using the US firm's management expertise to run the partner firm's
operations in the foreign markets. This is an example of __________ for entering a
foreign market. - ANSWERS✔-Management contracting
\.The term _________ means that a domestic marketer ships goods or delivers
professional services outside the country in which the marketer is located. -
ANSWERS✔-Exporting
\.Taxes levied on foreign products that are imported into domestic markets are
called ________. - ANSWERS✔-Tariffs
\.The _____________ made it illegal for US marketers to use bribes as
promotional incentives intended to solicit new sales - ANSWERS✔-Foreign Corrupt
Practices Act
QUESTIONS AND CORRECT
ANSWERS
\.Which of the following are considered to be economic factors affecting a firm's
global marketing strategy? - ANSWERS✔-Gross domestic product
Per capita income of individuals
Exchange rates
Infrastructure
All of the above (correc
\._________ entails selling a product in a foreign market at prices substantially
lower than it is priced in the domestic home market. - ANSWERS✔-Dumping
\.McDonald's product menu and its promotions vary greatly across the different
countries in which it operates. The firm sensibly focuses substantial marketing mix
attention on delivering products and messages that are popular and culturally
acceptable across various nations and regions. McDonald's is using a(n) ______. -
ANSWERS✔-Dual customization strategy
\.Which of the following is false concerning the importance of global marketing? -
ANSWERS✔-Most large international firms are headquartered in the US
,\.In Russia, greeting cards are not sent to men celebrating their 40th birthdays.
Traditional Russians still honor the belief that big events or gestures intended to
celebrate this milestone are tantamount to inviting "the Death" into his life.
Hallmark does not produce and sell 40th birthday greeting cards in Russia.
Hallmark is using a _________ for tapping the Russian market. - ANSWERS✔-
Product adaptation strategy
\.South Africa's De Beers, the world's largest diamond producer, uses glossy high-
image advertising with little copy in upscale publications to convey its prestige
messages in all international markets served. The same message and associated
marketing program are employed in all its markets. De Beers is using a ______. -
ANSWERS✔-Straight extension strategy
\.In India, LG introduced refrigerators that featured larger vegetable and water-
storage compartments; electric surge-resistant power sourcing; and gaudily
colored finishes that reflect regional preferences inside India. In Iran, LG markets a
microwave oven that boasts a shish kebob preset button—makes sense, since this
is a favorite dish throughout most of the Middle East. These are examples of
____________ impacting a firm's potential global marketing strategy. -
ANSWERS✔-Cultural differences
\.The disadvantages of licensing as a means for US firms to enter foreign markets
include: - ANSWERS✔-Reduced control over how it's products are produced and
marketing in the foreign country
An alternative entry strategy may have been more profitable, particularly if the
product gains substantial sales
After developing an expertise and market for the licensed product, the licensee
may break from the licensing arrangement and become a direct competitor with
the US-based firm in the foreign market.
,All of the above. (correct)
\.Which of the following is a key question a firm must address when deciding
whether it should "go global?" - ANSWERS✔-Can the firm adapt its business
model to accommodate differences in global cultures and supply chain structures?
Can the firm identify, understand, and effectively respond to differences in
consumer preferences and buying behaviors in global markets?
Does the firm have the relevant expertise and experience to target global
markets?
Is the firm capable of managing and responding to the varying legal requirements
in global markets?
All of the above must be addressed. (correct)
\.Which of the following is not a key question a firm must address when deciding
whether it should "go global?" - ANSWERS✔-Can the firm be sure that it can use
its current business model in global markets?
\.Organizations that operate in more than one country and consequently secure
marketing, production, NPD, research and development, financial or supply chain
advantages that are not available to firms operating in purely domestic markets
are engaged in ________. - ANSWERS✔-Global marketing
\.Ford Motor, recently introduced a new, low-priced, and smallish model called
the Figo in India. The Figo is targeted at tens of millions of Indian consumers who
are only now able to afford their first car. This is an example of ____________
impacting a firm's potential global marketing strategy. - ANSWERS✔-Economic
factors
, \.Counterfeiting technology has made it easier for counterfeiters to make better
fake copies of legitimate brands. In fact, Jack Ma (Alibaba founder) has gone on
record saying the many counterfeits are made in the same factories using the
same materials as authentic brands. Such counterfeits have been called
_________ . - ANSWERS✔-Super fakes.
\.Which of the following countries is responsible for producing the majority (86%)
of counterfeit brands flooding international markets? - ANSWERS✔-China
\.Some domestic US firms contract with partner firms in foreign markets for
purposes of using the US firm's management expertise to run the partner firm's
operations in the foreign markets. This is an example of __________ for entering a
foreign market. - ANSWERS✔-Management contracting
\.The term _________ means that a domestic marketer ships goods or delivers
professional services outside the country in which the marketer is located. -
ANSWERS✔-Exporting
\.Taxes levied on foreign products that are imported into domestic markets are
called ________. - ANSWERS✔-Tariffs
\.The _____________ made it illegal for US marketers to use bribes as
promotional incentives intended to solicit new sales - ANSWERS✔-Foreign Corrupt
Practices Act
