International Business Exam Questions with Verified Solutions (Graded A+)
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Module
International Business
Institution
International Business
International Business Exam Questions with Verified Solutions (Graded A+)
Market ________ refers to identifying distinct groups of consumers whose purchasing behavior differs from others in important ways. - Answers segmentation
Which of the following is a main difference between a concentrated r...
International Business Exam Questions with Verified Solutions (Graded A+)
Market ________ refers to identifying distinct groups of consumers whose purchasing behavior differs
from others in important ways. - Answers segmentation
Which of the following is a main difference between a concentrated retail system and a fragmented
retail system? - Answers A few retailers supply most of the market in a concentrated system; many
retailers are present in a fragmented system
Belinda thinks her company should use a push strategy for its new product line because it needs to
educate consumers on how to use the product. How does a push strategy promote products? - Answers
personal selling
Demand is said to be elastic when - Answers a small change in price produces a large change in demand.
When a company uses price as a competitive weapon to drive weaker competitors out of a national
market, it is using _____ pricing. - Answers predatory
Selling a product for less than the variable cost to produce the product, for the purposes of gaining
market share and driving out competitors, is called what? - Answers dumping
Which of the following is a question to address when configuring the communication strategy of the
marketing mix for a product? - Answers Are rebates, coupons, and other sale offers a widespread
activity to motivate customers in the international market segments targeted to buy a company's
products?
During the meeting, Kristof asked, "Where is the product typically bought by customers in the
international market segments?" What element of the marketing mix is he addressing? - Answers
distribution strategy
________ is an international market research company based in Paris, France, and is the only major
international market research firm that is controlled and operated by market researchers. - Answers
Ipsos
Which of the following is the first step in the international market research process? - Answers defining
the research objectives
Other things being equal, the rate of new product development seems to be greater in countries where -
Answers intense competition is present.
Many strategists argue that firms should centralize R&D activity in the United States. Which of the
following statements, if true, would weaken this argument? - Answers Competition among U.S. firms has
deteriorated in the recent past.
What would help a company reduce the risk of developing products for which there is little or no
demand? - Answers integrating R&D and marketing department
, Which of the following is an idea set forth by W. Edwards Deming? - Answers The organizational
environment should allow employees to report problems.
Grigor's company has decided to implement the Six Sigma approach. His company would adopt this
approach as a way to - Answers reduce product defects.
Which of the following allows a company to produce a wider variety of end products at a unit cost that
at one time could be achieved only through the mass production of a standardized output? - Answers
flexible manufacturing
The ________ refers to the level of output at which most plant-level scale economies are exhausted. -
Answers minimum efficient scale
Which of the following situations would lead a firm to choose to decentralize production? - Answers The
production technology has low fixed costs and low minimum efficient scale.
A(n) ________ factory serves the primary purpose of producing component or finished goods more
cheaply than producing them at home or in any other market. It has minimal engagement with
suppliers. - Answers offshore
Concentration of production is appropriate when - Answers the product's value-to-weight ratio is high
Gail's Garden Gloves company is trying to decide if it should purchase new machinery that would allow it
to add zippers to some of its products or if it should outsource the production of zippered gloves to
Zack's Zippers. Gail's Garden Gloves is in the midst of a(n) ________ decision. - Answers make-or-buy
Which of the following is an advantage of engaging in in-house production of the entire product? -
Answers Firms can lower costs through in-house production if it is more efficient than other production
facilities.
A(n) ________ is a facility that positions and allows customization of products for delivery to worldwide
wholesalers or retailers or directly to consumers anywhere in the world. - Answers global distribution
center
When a multinational corporation transfers business or information technology processes to suppliers in
a nearby country, often one that shares a border with the firm's own country, it is referred to as -
Answers nearshoring
When a multinational corporation buys products or services from one of its suppliers that produces
them somewhere else, whether domestically or globally, it is referred to as - Answers outsourcing.
Which of the following is the major purpose of using just-in-time (JIT) systems? - Answers economizing
inventory holding costs
Which of these is a common difficulty that traders face when exporting goods or services to other
countries? - Answers Many customers require face-to-face negotiations on their home turf.
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