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Marketing 201 Exam #2 Questions with Correct Answers
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Marketing 201 Exam #2 Questions with Correct Answers
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Marketing 201 Exam #2 Questions with CorrectAnswers
5 trends that have influenced the landscape of global marketing Correct
Answer-1.) decline of economic protectionism
-tariffs and quotes discouraging world trade
2.) rise of economic integration
-transnational trade groups---> EU & NAFTA
3.) global competition among global companies for global consumers
-3 types of companies compete in global mktplce
*international firms
* multinational firms
* transnational firms
4.) emergence of a networked global marketspace
5.) growing prevalence of economic espionage
3 kinds of uncontrollable environmental variables Correct Answer-1.)
cultural
2.) economic
-currency exchange rate
,3.) political-regulatory
4 means of market entry Correct Answer-1.) exporting
-least control
-least $ invested (lower profit potential)
-least # of changes need to be made
-disliked my host countries bc provides less local employment
2.) licensing
-low risk
-capital free entry into another country
-licensee gains info to start a comp. advantage
-foreign country gains employment by having product manuf. locally
3.) joint venture
-foreign company and local firm invest together
-share ownership, control, and profits of new firm
4.) direct investment
-most risky
-most $
-most control over merchandise
, -biggest commitment
-domestic firm investing in and owning foreign division
a product may be sold globally in 1 of 3 ways Correct Answer-1.)
product extension (same form as home market)
2.) product adaptation (some adaptations)
3.) product invention (totally new product)
marketing research Correct Answer-process of defining a market
problem and opportunity, systematically collecting and analyzing
information, and recommending actions
5 steps in marketing research approach Correct Answer-1.) DEFINE
THE PROBLEM
-set the research objectives... specific, measurable goals the decision
maker seeks to achieve in conducting the mkt research
2.) DEVELOP THE RESEARCH PLAN
1st: specify the constraints on the mkt research activity
2nd: identify the data needed for mkt actions
3rd: determine how to collect the data
3.) COLLECT RELEVANT INFORMATION
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