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MKT 505 FINAL EXAM PART 1 & 2 (100% ANSWER)
PART - 1
Question 1
Coca-Cola achieved success in the Japanese market primarily by:
Answer
standardization of marketing mix elements.
global localization.
vending machine operations.
selecting market mix options.
homogenization.
Question 2
Slumdog Millionaire, a movie which received several awards and an Oscar in 2009, was filmed on a location in and around:
Answer
London.
San Francisco.
Cancun.
Mumbai.
Moscow.
Question 3
The essence of marketing worldwide is to surpass the competition in creating perceived value, which can be represented as:
Answer
Value = Price/Benefits
Value = Benefits/Price
Value = Benefits x Price
Value = Benefits - Price
Value = Benefits + Price
Question 4
That Russia is being transformed by economic change can be witnessed in all of the following observations except:
Answer
affluent Russians can shop at boutiques that offer Versace.
per capita gross national income in Russia is only $9370.
the banking system in Russia is robust.
Russian shoppers spend an estimated $4 billion each year on luxury goods.
the Russian government lifted all currency controls.
Question 5
The greatest percentage of world GDP is in the following income group countries:
Answer
high-income countries.
upper-middle-income countries.
lower-middle-income countries.
low-income countries.
BRIC countries.
Question 6
The member of the Gulf Cooperation Council (GCC) with the largest economy and population size is:
Answer
Bahrain.
Kuwait.
Oman.
Qatar.
Saudi Arabia.
Question 7
In spite of having about 45% of the world's known oil reserves, Saudi Arabia and other Middle Eastern countries post current-account deficits, largely because:
Answer
of poor accounting practices.
of vast economic diversification.
they must import most of the goods and services.
most of the oil is exported.
new businesses are being developed.
Question 8
The original six members of the ASEAN (Association of Southeast Asian Nations) included all of the following countries except:
Answer
Singapore.
Thailand.
India.
Philippines.
Brunei.
Question 9
A characteristic of a low-context culture which is prevalent in United States, Switzerland, and Germany is:
Answer
less information is contained in verbal communication.
major emphasis on a person's values and position in society.
messages are explicit and specific.
a person's word is his or her bond.
negotiations are long and protracted.
Question 10
The cultural environment of a country is best defined by which characteristics?
Answer
standard of living and stage of economic development
production process and standards of measurement
attitudes, beliefs, and values
degree of nationalism and economic community membership
fast food culture and slow food culture
Question 11
Any Western country doing business in Malaysia or the Middle East should have understanding of:
Answer
the French Civil Code.
Anglo-Saxon common law.
Islamic law.
the Uniform Commercial Code.
Roman law and the Napoleonic Code.
Question 12
Located in The Hague, the International Court of Justice (ICJ) is the judicial arm of the:
Answer
United States.
European Union.
United Nations.
Netherlands.
United Kingdom.
Question 13
As part of their alliance relationship, Northwest Airlines and KLM Royal Dutch set air fare prices jointly and coordinate flight schedules. Normally, such behavior would be considered harmful to competition, but the U.S. government has granted the two airlines special exemptions from laws concerning:
Answer
intellectual property.
antitrust.
jurisdiction.
licensing.
Arbitration
Question 14
The decision by Toyota executives to introduce the Sienna minivan in the U.S. market was based on their study of a(n) ________ market.
Answer
existing
latent
parallel
incipient
global
Question 15
The international marketing manager of an office furniture company ordered a research report on global telecommunications equipment sales. The report noted that, in the early 1990s, AT&T was awarded a $4 billion contract to provide communication network products and services in Saudi Arabia. The manager took this as a cue to put Saudi Arabia on her information agenda, reasoning that office furniture sales would increase as the country's telephone system was improved. As described here, the marketing manager is viewing Saudi Arabia as a(n):
Answer
latent market.
incipient market.
cluster market.
existing market.
primary market.
Question 16
A(n) ________ is a company's private data network, accessible only by authorized persons inside the organization.
Answer
EDI
internet
intranet
EPOS
ECR
Question 17
The efforts of global companies to reach low-income consumers in emerging markets highlight the importance of skillful global market segmentation and targeting. Market segmentation represents:
Answer
targeting prospective customers.
finding customers who can respond to advertisement.
promoting products and services internationally.
identifying customers who can help in promoting products.
an effort to identify and categorize customers based on common characteristics.
Question 18
Some of Body Shop's recent advertising has emphasized the difference between the company's principles and those of "mainstream" cosmetics companies on such issues as animal testing. As described here, Body Shop's ads illustrate positioning by ________.
Answer
competition
niche
quality/price
attribute/benefit
culture
Question 19
The Swatch Group markets watches in all price ranges, from the Swatch brand at the low end to luxury brands such as Longines, Blancpain, and Breguet. Which target market strategy does this illustrate?
Answer
standardized global marketing
concentrated global marketing
differentiated global marketing
psychographic global marketing
Question 20
The international standard by which letters of credit (L/Cs) are interpreted is known as the ________ 500.
Answer
UCP
NTR
FSC
NTB
HTS
Question 21
Which of the following completely eliminates the risk of nonpayment by an importer or a bank in an international transaction?
Answer
documentary credit (letter of credit)
documentary collection
cash in advance
sales on open account
draft
Question 22
Which of the following financing methods would be used by an exporter that enjoys good relations with a buyer in a well-established market?
Answer
letter of credit
cash in advance
sales on open account
barter
arrival draft
Question 23
The president of a Mexican company recently remarked, "Business in Mexico is done on a consensus basis, very genteel and sometimes slow by U.S. standards." A few months later, the Mexican company and its U.S. joint venture partner parted company. Judging by the president's remark, one important reason for the "divorce" was:
Answer
failure of one partner to live up to the terms of the contract.
cultural differences.
the cancellation of NAFTA.
the U.S. government's insistence on quick negotiations.
the language barrier.
Question 24
As a general rule, the Chinese government allows foreign companies to participate in its market only if those companies agree to establish operations with local Chinese enterprises. Which market entry mode would be the appropriate choice under these circumstances?
Answer
acquisition
licensing
joint venture
exporting
franchising
Question 25
Licensing as a market entry mode has several disadvantages and opportunity costs, which do not include:
Answer
limited market control.
agreement may have short life.
leveraging and exploiting by licensee.
similar product or technology development by licensee
adaptations by licensee to fit local tastes
PART 2
Question 1
________ represent(s) the cumulative added value of a company's investment in the marketing of a brand over time.
Answer
Brand extensions
Co-branding
Brand Image
Brand equity
Brand loyalty
Question 2
Maslow's hierarchy is applicable to global marketing because it can help explain how:
Answer
basic human needs can drive the development of global products.
"self-actualization" is the highest-order need in Japan as well as Western nations.
status needs in different countries can only be fulfilled with localized products.
"luxury badging" is irrelevant to companies marketing in Asia.
Asians differ from Westerners in their basic physiological needs.
Question 3
Campbell's has been marketing soup in Japan for more than 40 years. Early on, Japanese consumers were not receptive to ads featuring the Campbell Kids and the "M'mM'm Good" slogan. This compelled Campbell's to develop ads featuring a talking soup can known as "Mr. Campbell." Campbell's also developed soup varieties for Japan with fish as the main protein source and spices that reflect local preferences. As described here, which of the following strategies has Campbell's used in Japan?
Answer
product-communications extension
product extension-communications adaptation
product adaptation-communications extension
product-communication adaptation
product invention
Question 4
To win a contract to supply the United Kingdom with AWACS military aircraft, Boeing agreed to purchase products from the UK whose value was equivalent to 130% of the contract. This type of pricing arrangement, which is common when the customer is a foreign government and the product has military applications, is known as:
Answer
barter.
switch trading.
compensation trading.
offset.
dumping.
Question 5
Which pricing strategy has the advantage of being simple to calculate but has the disadvantage of ignoring demand and competitive conditions?
Answer
gray marketing
skimming
penetration
market holding
cost-based
Question 6
Joseph Quinlan, chief marketing strategist at Bank of America, estimated that about 25% of U.S. merchandise exports represent shipments by American companies to their foreign affiliates and subsidiaries. This situation underscores the importance of ________ in global marketing.
Answer
dumping
gray marketing
transfer pricing
price skimming
price fixing
Question 7
When Wal-Mart Stores first expanded into Mexico, management established a joint venture with the country's largest retailer. Judging by the approach Wal-Mart used, management must have viewed Mexico as:
Answer
culturally close and easy to enter.
culturally distant and easy to enter.
culturally close and difficult to enter.
culturally distant and difficult to enter.
culturally difficult and easy to enter.
Question 8
Which personal computer company began life as a b-to-b marketer and then began marketing direct to the home PC market?
Answer
Hewlett-Packard
Compaq
Dell
Acer
Sony
Question 9
Order processing, warehousing, and inventory management are all functions pertaining to:
Answer
a polycentric orientation.
physical distribution and logistics.
sales promotion.
personal selling.
chain acquisition.
Question 10
In advertising, a(n) ________ is an agent who chooses graphics, pictures, type styles, and other visual elements and has general responsibility for the overall look of an advertisement.
Answer
art director
copywriter
IMC manager
PR practitioner
stylist
Question 11
Japan's Fuji Photo Film asked its advertising agency to develop an advocacy campaign for the United States targeted to appeal both to Wal-Mart and to its customers. This is an example of ________.
Answer
local advertising
pattern advertising
global advertising
advocacy advertising
image advertising
Question 12
A ________ company possesses a critical marketing advantage with respect to marketing communications.
Answer
domestic
local
global
glocal
multinational
Question 13
Traditional support media include:
Answer
indoor posters.
billboards.
newspapers.
magazines.
catalogs.
Question 14
When a company must decide on the composition of its foreign sales force, which alternative is generally the most expensive?
Answer
expatriates
third-country nationals
host-country nationals
agents of any nationality
agents of host country
Question 15
Which country or region offers direct marketers the advantage of a well-developed mailing list industry?
Answer
United States
Japan
Western Europe
Latin America
South Korea
Question 16
________ are online retail operations that allow customers to purchase goods and services.
Answer
Promotion sites
Matrix sites
Transfer sites
Transaction sites
Content sites
Question 17
________ -commerce is one of the significant marketing opportunities made possible by the digital revolution.
Answer
Multinational
Mobile
Multisegment
Marginal-cost
Multilingual
Question 18
"Small markets don't solve the growth needs of large companies" and "markets that don't exist can't be analyzed" are two principles of disruptive innovation. These principles are integral to:
Answer
the five forces model.
the flagship model.
strategic intent.
the innovator's dilemma.
the innovator's dream.
Question 19
In the terminology of the strategic intent framework for competitive advantage, a firm that establishes advantages in a number of different areas has:
Answer
attribute diversity.
marketing breadth.
comparative advantage.
layers of advantage.
a "double diamond."
Question 20
Germany's Mittelstand companies have been extremely successful pursuing ________.
Answer
cost leadership
differentiation
cost focus
focused differentiation
cost differentiation
Question 21
Which of the following generic strategies best captures the way Harley-Davidson has achieved competitive advantage in the global motorcycle industry?
Answer
cost leadership
differentiation
cost focus
focused differentiation
cost differentiation
Question 22
In the 1950s, Sony licensed the technology for the transistor from Bell Labs and proceeded to become the world's leading manufacturer of portable radios. Which strategy was Sony using to gain competitive advantage?
Answer
collaboration
layers of advantage
changing the rules
loose bricks
engagement
Question 23
Which form of organization design is capable of integrating geographic knowledge, product knowledge, functional competencies, and customer knowledge?
Answer
matrix structure
international division structure
geographic structure
worldwide product division structure
regional management center
Question 24
Marjorie Scardino is chief executive of:
Answer
Nissan Motor (Japan).
Pearson PLC (Great Britain).
Ford Motor Company (USA).
Pharmacia Corporation (USA).
Atlas Copco AB (Sweden).
Question 25
Brazilian Carlos Ghosn is chief executive of:
Answer
Nissan Motor (Japan).
Pearson PLC (Great Britain).
Ford Motor Company (USA).
Pharmacia Corporation (USA).
Atlas Copco AB (Sweden).
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