M401 Exam 1 || 100% Exact Answers.
Marketing correct answers the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners as society at large
Marketing Mix correct answers Product, price, place, promotion
Global Marketing correct answers focuses its resources and competencies on global market
opportunities and threats. The scope of activities is different
Market Penetration correct answers Existing Markets, Existing Products
Market Development correct answers New Markets, Existing Products
Product Development correct answers Existing Markets, New Products
Diversification correct answers New Markets, New Products
Value Chain correct answers decisions at every stage from idea conception to support after sale
should be assessed in terms of their ability to create value for customers
Value Equation correct answers Benefits/Price
**Price: Money, time, effort,etc.
To increase value: correct answers 1.improve benefits
2.lower price
,Market correct answers people or organizations that are both able and willing to buy
competitive advantage correct answers measures relative to rivals in a given industry.
Globalization correct answers the transformation of formerly local or national industries into
global ones
Economic Globalization correct answers constitutes integration of national economies into the
international economy through trade, direct foreign investment, short term capital flows,
international flows of workers and humanity generally, and flows of technology
Global Industry correct answers an industry in which competitive advantage can be achieved by
integrating and leveraging operations on a worldwide scale
Focus correct answers the concentration of attention on a core business or competence
Global Marketing Strategy (GMS) correct answers the way a company addresses learning to
recognize the extent to which it is possible to extend marketing plans and programs worldwide as
well as the extent to which adaptation is required
Global Market Participation correct answers extent to which a company has operations in major
world markets.
Standardization vs. Adaptation correct answers the extent to which each marketing mix element
is standardized or adapted in various country markets
Concentration of Marketing Activities correct answers extent to which activities related to the
marketing mix are performed in one or a few country loccations
, Coordination of marketing activities correct answers extent to which marketing activities related
to the marketing mix are planned and executed interdependently around the world
Integration of competitive moves correct answers extent to which a firms competitive marketing
tactics in different parts of the world are interdependent
global localization correct answers successful marketer must have the ability to think globally
and act locally
Think Locally, Act Globally correct answers companies are discovering the value of leveraging
innovations that occur far from heatquarters and transporting them elsewhere
Ethnocentric Orientation correct answers a person who assumes that his or her home country is
superior to the rest of the world
Domestic Companies correct answers At some companies, ethnocentric orientation means that
oppoortunities outside the home country are largely ignored
International Companies correct answers Ethnocentric Companies that conduct business outside
the home country. They adhere to the notion that the products that success in the house country
are superior
Polycentric Orientation correct answers describes management belief or assumption that each
country in which a company does business is unique. This assumption lays the groundwork for
each subsidiary to develop its own unique business and marketing strategies in order to success
Multinational company correct answers Used to describe: that each subsidiary develops its own
unique business and marketing strategies in order to success
Localized/adaptation approach correct answers assumes that products must be adapted in
response to different marketing conditions
Marketing correct answers the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners as society at large
Marketing Mix correct answers Product, price, place, promotion
Global Marketing correct answers focuses its resources and competencies on global market
opportunities and threats. The scope of activities is different
Market Penetration correct answers Existing Markets, Existing Products
Market Development correct answers New Markets, Existing Products
Product Development correct answers Existing Markets, New Products
Diversification correct answers New Markets, New Products
Value Chain correct answers decisions at every stage from idea conception to support after sale
should be assessed in terms of their ability to create value for customers
Value Equation correct answers Benefits/Price
**Price: Money, time, effort,etc.
To increase value: correct answers 1.improve benefits
2.lower price
,Market correct answers people or organizations that are both able and willing to buy
competitive advantage correct answers measures relative to rivals in a given industry.
Globalization correct answers the transformation of formerly local or national industries into
global ones
Economic Globalization correct answers constitutes integration of national economies into the
international economy through trade, direct foreign investment, short term capital flows,
international flows of workers and humanity generally, and flows of technology
Global Industry correct answers an industry in which competitive advantage can be achieved by
integrating and leveraging operations on a worldwide scale
Focus correct answers the concentration of attention on a core business or competence
Global Marketing Strategy (GMS) correct answers the way a company addresses learning to
recognize the extent to which it is possible to extend marketing plans and programs worldwide as
well as the extent to which adaptation is required
Global Market Participation correct answers extent to which a company has operations in major
world markets.
Standardization vs. Adaptation correct answers the extent to which each marketing mix element
is standardized or adapted in various country markets
Concentration of Marketing Activities correct answers extent to which activities related to the
marketing mix are performed in one or a few country loccations
, Coordination of marketing activities correct answers extent to which marketing activities related
to the marketing mix are planned and executed interdependently around the world
Integration of competitive moves correct answers extent to which a firms competitive marketing
tactics in different parts of the world are interdependent
global localization correct answers successful marketer must have the ability to think globally
and act locally
Think Locally, Act Globally correct answers companies are discovering the value of leveraging
innovations that occur far from heatquarters and transporting them elsewhere
Ethnocentric Orientation correct answers a person who assumes that his or her home country is
superior to the rest of the world
Domestic Companies correct answers At some companies, ethnocentric orientation means that
oppoortunities outside the home country are largely ignored
International Companies correct answers Ethnocentric Companies that conduct business outside
the home country. They adhere to the notion that the products that success in the house country
are superior
Polycentric Orientation correct answers describes management belief or assumption that each
country in which a company does business is unique. This assumption lays the groundwork for
each subsidiary to develop its own unique business and marketing strategies in order to success
Multinational company correct answers Used to describe: that each subsidiary develops its own
unique business and marketing strategies in order to success
Localized/adaptation approach correct answers assumes that products must be adapted in
response to different marketing conditions
