Global Marketing Exam Bundle Graded A+

The process of ____ begins with the choice of one or more variables to use as a basis for grouping customers - ANSWER-global market segmentation Which of the following involves grouping people in terms of their attitudes, values, and lifestyles - ANSWER-Psychographic segmentation The attempt b...

what is the goal of businesses - ANSWER-long term survival 3 ways to increase market share - ANSWER-New customers, more business with existing customers, retain more customers 4 Competitive growth strategies - ANSWER-market penetration, product development, market development, diversification ...

Marketing - ANSWER-an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders Marketing Mix (the four p's) - ANSWER-the four factors - product,...

What is a global consumer? - ANSWER-an individual or organization buyer that has similar needs and tastes worldwide (homogeneous tastes/wants) External influences on the global consumer - ANSWER-- reference groups, - culture - family - demographics - social status - MARKETING ACTIVITIES I...

International Marketing - ANSWER-the performance of business activities designed to PLAN, PRICE, PROMOTE, and DIRECT the flow of a company's goods and services. Controllable Elements - ANSWER-- Product - Price - Place - Promotion - Research - Firm Characteristics - Distribution Uncontro...

Law of one price - ANSWER-All customers in the market get the best product for the best price Global Markets - ANSWER-Diamonds, crude oil commercial aircraft, integrated circuits (Heineken's price in Japan is a function of competition with other imports and the national producers National Mar...

Express Warranty - ANSWER-Written guarantee that assures the buyer is getting what they paid for or provides remedy in case of product failure (can be used competitively) Labeling - ANSWER-Contains various types of information. Regulations differ by country. ex: American Automobile Labeling: ori...

Types of Marketing entry starts - ANSWER-Exporting licensing contract manufacturing Joint venture Equity stake or acquisition Exporting - ANSWER-Low involvement, low cost Licensing - ANSWER-Contractual agreement where one company makes an asset available to another company, (the licensee) ...

Segmenting-Targeting-Positioning - ANSWER-•The typical way of approaching global marketing strategy is similar to the so-called S-T-P framework: o 1. Segmentation o 2. Targeting o 3. Positioning Market Segmentation - ANSWER-•Represents an effort to: o split up the total market into segmen...

Information Technology (IT) - ANSWER--an organization's processes for creating, storing, exchanging, using, and managing information Management Information Systems (MIS) - ANSWER--provide managers and other decision makers with a continuous flow of information about company operations Toold o...

Task of Global Marketers - ANSWER-•Study and understand the cultures of countries in which they will be doing business •Understand how an unconscious reference to their own cultural values, or self-reference criterion, may influence their perception of the market •Incorporate this understand...

Which is better Standardization Vs Adaption - ANSWER-"The essence of the global marketing mix is finding a balance between a standardized approach to the marketing mix and a localized approach that is responsive to country or Regional differences" - Keegan + Green 1999 Act global, Think Local ...

What is international marketing? - ANSWER-The marketing of goods and services across national boundaries What does international marketing involve?(4) - ANSWER-1) identifying international marketing opportunities 2) providing products/services that meet international market needs 3)communicati...

Customer Perceived Value - ANSWER-Value=Benefits/Price -improve product -Find new distribution channels -Create better communications -Cut monetary and non-monetary cost and prices Global Industries (Definition) - ANSWER-An industry is global to the extent that a company's industry position ...

Marketing - ANSWER-Process of planning and executing the conception pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organization goals Global Marketing - ANSWER-Focuses resources on global market opportunities and threats; the main ...

Global marketing - ANSWER-the performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers in the entire global market one basic strategy is used throughout the world with some flexibility to adapt to local markets Cok...

Exporting - ANSWER-marketing domestically produces goods and services in foreign countries Importing - ANSWER-purchasing foreign goods and services Importance of Global Marketing - ANSWER--demand for foreign products is increasing in fast- growing economies -globalization and the internet all...

Marketing - ANSWER-creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Marketing Mix - ANSWER-Product, place, price, promotion What is the difference between regular marketing and global marketing? - ANSWER-The bu...

Globalization - ANSWER-Goods, services, capital, people, information, and ideas flow across national borders Resulted by fundamental changes such as: - Reductions or eliminations of trade barriers by country governments - Decreasing concerns of distance and time with regard to moving products a...

List the levels of involvement in international marketing - ANSWER-1. Domestic Marketing 2. Export marketing - Takes opportunities outside its home market but continues production in the home country 3. International Marketing - Reduces reliance on intermediaries and establishes direct involvem...

Governing Global Trade - ANSWER-- WTO, which enforces GATT (General Agreement on Tariffs and Trade) - regional free trade agreements (NAFTA and EU) 1. multilateral agreements between two or more countries creating special rules for exchange of goods between the countries involved Protectionis...

e - ANSWER-_______ is(are) demographic characteristic indicators of market potential. A. National priorities B. Government bureaucracy C. Monetary and trade regulations D. Political stability E. Population size and growth e - ANSWER-In the whole-channel view of distribution, the fi...

Global Commerce Causes Peace - Global commerce thrives during peacetime - ANSWER-Global commerce thrives during peacetime •Economic boom in North America in late 1990s •The end of the Cold War •Opening former communist countries to world trading system - In times of peace, international tr...

The Marketing Process - ANSWER-1. Business Planning 2. Situation Analysis (& SWOT) 3. Develop Strategy (4Ps) 4. Implement Strategy 5. Monitor & Control + Ethics + Marketing Research + Consumer Behavior Global Marketing - ANSWER-Similar to marketing in a specific country; however firm must de...

Going global - ANSWER-Today companies go global to survive as competitors will enter the home market with lower costs, more experience and better products *Marketing - ANSWER-the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that ha...

What is "global marketing" and how does it differ from "regular marketing"? Give examples of at least one major corporation that explains these differences. - ANSWER-Regular marketing is when goods and services are kept only to the home country Global marketing is when companies expand their pr...

Marketing - ANSWER-the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Global Marketing - ANSWER-An organization that engages in global marketing focuses its resou...

International marketing can be defined as: A) the creation of domestic processes that aim to enhance indigenous production and minimize the need for imports. B) the performance of business activities to sell a company's goods and services for a profit in more than one nation. C) the implement...

Production - ANSWER-Which of the following is NOT part of the marketing mix? Traveling and sharing information became easier - ANSWER-Which of the following is the reason international world trade has become easier according to the segment? Methods of distribution - ANSWER-Which of the followi...

we live in an era of ______? - ANSWER-globalization In the past few decades, international trade has experienced ________ growth? - ANSWER-Exponential How many countries are in the world? - ANSWER-196 (if you count Taiwan) How many countries are members of the United Nations? - ANSWER-193 (...

Marketing - ANSWER-the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Global Marketing - ANSWER-The scope of activities outside the home market Global Industri...

What is a free market? - ANSWER-minimal government intervention and regulation in business Marketing Mix - ANSWER-Product, price, place and promotion What is the value equation? - ANSWER-benefits/price globalization (standardization) - ANSWER-essence of mass marketing, developing standardiz...

e - ANSWER-1.All of the following correctly states McDonald's approach to standardization and adaptation of the marketing mix except: A) McDonald's standardizes some product elements and adapts others. B) McDonald's standardizes some place elements and adapts others. C) McDonald's standardi...

A company's value chain is made up of ________. A. marketing processes B. value, price, and benefits C. marketing, product design, product pricing, manufacturing, and globalization D. marketing, product design, manufacturing, and transportation logistics E. marketing, finance, and operations...

1.All of the following correctly states McDonald's approach to standardization and adaptation of the marketing mix except: A) McDonald's standardizes some product elements and adapts others. B) McDonald's standardizes some place elements and adapts others. C) McDonald's standardizes some prom...

Global Marketing - ANSWER-Scope of activities are outside the hoe country market Market penetration strategy - ANSWER-Existing products in existing markets, what can we do to sell more without expanding to new places/ products i.e. rewards programs Product development strategy - ANSWER-New pro...

What is Global Marketing? - ANSWER-The performance of business activities that direct the flow of a company's goods and services to consumers or users in more than one nation for a profit Why is Global Marketing Different? - ANSWER-It generates new organizational challenges. G-7 - ANSWER-USA,...

What is the most difficult social issue to translate between culture? - ANSWER-Humor What is the most respectful bow called? - ANSWER-Salkeirei What is Balance of Payments(BoP)? - ANSWER-1.System of accounts that records a nations international transactions. 2. It is all the transaction betwe...

The goal of global marketing is to: - ANSWER-Give the firm a competitive marketing advantage, communication about the products and services, and exchanging them internationally. Global marketing is a ______ response to the intertwined nature of business opportunities. - ANSWER-Proactive. Motiv...

Market Penetration - ANSWER-A marketing strategy defined by getting existing customers to buy more products that exist already. Market Development - ANSWER-A marketing strategy defined by taking existing products into new markets Product Development - ANSWER-A marketing strategy defined by dev...

Which of the following statements accurately describes domestic environment uncontrollable? - ANSWER-They can directly affect a foreign venture even though they are elements within a business's home country. True or false: In the no direct foreign marketing stage of international marketing invol...

Parallel importing is also known as ___. - ANSWER-secondary wholesaling OPEC is an example of a ____: it can control the price of oil by controlling the market. - ANSWER-cartel Dumping has been defined as the situation in which a product is sold in the international market - ANSWER-at the pric...

multinational companies - ANSWER--confronted with increasing global competition for expanding markets -changing their marketing strategies and altering their organizational structure -nearly 75% of US and European corporations are revamping their business processes smaller companies - ANSWER--...

What are the benefits of global marketing? - ANSWER-Benefits of global marketing include economies of scale in production and marketing, the transfer of experience and know-how, a diversity of consumers, and spreading the portfolio of markets. Explain economies of scale in production and marketin...