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The international marketing manager's task is more complex than that of the domestic marketing manager because Ans of the great variations in uncontrollable environmental factors.

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The benefits from standardization of the marketing mix are Ans reduction in the time spent in preparing the marketing plan Relatively simple adaptations are frequently sufficient to compensate for physical product differences of foreign operators. However, somewhat more drastic modifications in the physical product may be necessary in developing countries because of: Ans a tendency to overload equipment The correct components of the 7-S framework are Ans structure, strategy, shared values, style, staff, skills and systems.

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With the globalization of markets, the tastes and preferences of consumers world-wide are Ans converging upon a global norm. The main advantage of a differentiation strategy in international markets lies in that Ans the focus is taken away from price. The goals of international marketing are to Ans create and retain customers in global markets. Being a global organization means Ans creating both standardized and customized products.

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10) Which of the following represents a company's effort to identify and categorize groups of customers and countries according to common characteristics? Ans Global market segmentation. 11) From the point of view of marketing, an organization that enjoys competitive advantage in an industry has done so by Ans creating superior value for customers. 12) The work of an international marketer is mainly concerned with Ans adapting a marketing mix to enter a market in another country 13) ithin an international context, what are 'economies of scope' synonymous with? Ans Reusing a resource from one business/country in additional businesses/countries. 14) From the point of view of marketing, an organization that enjoys competitive advantage in an industry has done so by Ans creating superior value for customers 15) What is the Culture? The sum of the values, rituals, symbols, beliefs, and thought processes that are learned, shared by a group of people,from generation to generation 16) Trade Barriers is a? Exchange rate, Tariffs, Quotas, Voluntary export restraints, Import restrictions (raw materials for foreign enterprises),Boycotts and embargoes, Monetary barriers Standards Local-content laws (a portion of products sold in the country must have local content), Price controls, Antidumping penalties 17) Factors affecting transportation mode and warehousing decisions Ans Where the firms customers are geographically located The pattern of existing and future demands The customer service level required

18) Factors influencing the acceptance of an innovation Ans Management style -Consumption behavior 19) What is the NIC's? Ans Countries that are experiencing rapid economic expansion and industrialization and do not exactly fit as LDCs or MDCs

20) Socialization (growing up and having social contact) ans -Acculturation (adjusting to a new culture) 21) Monochronic and polychronic use of time Ans Monychronic - One thing at a time 22) E-marketing is a? Ans The enablement of a business vision supported by advanced information technology to increase the effectiveness of the business relationships between trading partners 23) Approaches to transfer pricing Ans Transfer at cost (rarely used) Transfer at arms length: same prices as quoted to independent customers Transfer at cost plus: local manufacturing cost plus a standard markup 24) TArgeting a country Ans economic: size of population, per capita income, stage of economic develpment, exchange rate stability Cultural: material, social institutions, belief systems, aesthetics and language POlitical and legal: stability of governemnt, risk (confiscation, expropriation, domestication), attitude, tariff bariers Technological, structur eof distribution, geography and infrastructure 25) costs of exporting ans taxes, tariffs and administrative costs,inflation,exchange-rate fluctuations Analyse and interpret the collected data. Cultural understanding of the market will be vitally important to understanding and interpreting the findings, 26) Types of middlemen Ans Home-country Middlemen Foreign Country Middlemen Government-Affiliated Middlemen.

27) Screening Ans foreign uncontrollable domestic uncontrollable domestic controllable 28) Issues with primary research Ans ability to communicate opinions willingness to respond sampling in field surveys language and communication 29) Terms of sale Ans CIF,C&F,FAS,FOB,EX

30) PLanning international market Ans Preliminary analysis and screening Adjusting the marketing mix to the target market Developing the marketing plan Implementation and control 31) How can we differentiate international and global marketing Ans International marketing can be segmented by country whereas global would indicate the "entire" globe, basically "all" countries

32) Increasing affluence and demand mean consumers will Ans actively seek out choices

33) When the whole organisation is focused upon the selection and exploitation of global marketing opportunities, this is an aspect of Ans Global marketing 34) Which of the following would you consider to be a socio-cultural influence on international marketing Ans languge religion, social orgnisation, values and attributes 35) Legal aspects of environmental analysis include Ans International law 36) Why is it important to understand domestic laws in an internationally focused organisation? ANS There is an obligation to act by domestic laws in all of its activities and Export controls could limit the transfer of goods to other markets 37) Which are the BRIC economies? Ans Brazil, Russia, India, China 38) Define marketing? Ans Marketing is a societal process which discerns consumers' wants, focusing on a product or service to fulfill those wants, attempting to move the consumers toward the products or services offered. In other words, Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with with others.

39) Distinguish international marketing from domestic marketing? Ans Domestic marketing is the marketing practices within a marketer's home country. Foreign marketing is the domestic operations within a foreign country (i.e., marketing methods used outside the home market).Comparative marketing analytically compares two or more countries' marketing systems to identify similarities and differences. International marketing studies the "how" and "why" a product succeeds or fails abroad and how marketing efforts affect the outcome. It provides a micro view of the market at the company level.

40) How is marketing research useful for international marketing? Ans Understanding a culture and society that has yet to see your product is very important for successful launch of anything you are trying to sell. Many cultures find American culture offensive in small different ways just as much as we might find other cultural rituals to be taboo. If you want to market products and services to other countries, you must first learn how. Without that first step, your first step may be lethal in the marketing world. 41) The international marketing manager's task is more complex than that of the domestic marketing manager because: Ans of the great variations in uncontrollable environmental factors.

42) The marketing mix consists of a set of strategy decisions for the purpose of satisfying the customers in a target market. These strategy decisions are in the areas of: Ans product, promotion, regional 43) Often, Europeans will not buy American machiner Ans unless the machinery is made in the metric system to metric measurements. 44) The benefits from standardization of the marketing mix are Ans reduction in the time spent in preparing the marketing plan 45) What the customer buys, including the physical product, brand name, accessories, after-sales service, warranty, instructions for use, company image, and package is known as the Ans total product 46) Which of the following is a legitimate reason for international investment Ans There are possible benefits from international diversification. 47) Interest-rate parity refers to the concept that, where market imperfections are few Ans there is an offsetting relationship between interest rate differentials and differentials in the forward spot exchange market. 48) The forward market is especially well-suited to offer hedging protection against Ans transactions risk exposure. 49) Suppose that the Japanese yen is selling at a forward discount in the forward-exchange market. This implies that most likely Ans interest rates are higher in Japan than in the United States 50) Following FASB Statement No. 52, gains or losses from currency translation are shown Ans on the balance sheet as an adjustment to owners' equity 51) are hedges against exchange-rate risk EXCEPT Ans use of spot market. 52) A multinational can centralize cash management and attempt to reduce exchange rate risk exposure through the use of Ans a reinvoicing center. 53) Forfaiting most closely resembles Ans export factoring. 54) The euro is the name for Ans a common European currency 55) Which of the following terms would most closely match with the following description-the performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit? Ans International Marketing 56) Which of the following would be considered to be an uncontrollable element in the foreign environment? Ans economic forces 57) Such elements as geography and infrastructure, structure of distribution, and cultural forces are part of which of the following international marketing task environments? Ans foreign environment (uncontrollable) 58) Such elements as political and legal forces, economic climate, and competition are the three elements found in the ___________________ according to the international marketing task model found in the text. Ans )domestic environment (uncontrollable)

59) In China, to enter into a proper contract, the Chinese company or individual must be considered to be a "legal person." To be a legal person in China, the company or person must have registered as such with the Chinese government. This is only one of the problems encountered by businesspeople seeking to do business in China. Which of the following environments would most correctly apply to the above situation? Ans foreign environment 60) When Rita Thomas' clothing company began to market its line of inexpensive cotton shirts in Africa, it assumed that it would be able to use its television and print advertising that had worked so well in the United States and other countries. However, the company was soon to learn that literacy rates and ability to access television was not the same as in the other areas of the world. Which of the following environments would most correctly apply to the above situation? Ans foreign environment 61) One of Phillipe Ortiz's difficulties in marketing his line of Philippine cabinetry in Los Angeles is that he is still tied culturally to business models that work in the Philippines. These models do not work in the United States. The obstacle that Mr. Ortiz is facing may be identified as being which of the following? Ans SRC (self-reference criterion) 62) _____________ is generally a problem when managers from affluent countries work with managers and markets in less-affluent countries. Ans Ethnocentrism 63) To avoid errors in business decisions, it is necessary to conduct a ______________ that isolates the SRC influences and to maintain a vigilance regarding ethnocentrism. Ans cross-cultural analysis 64) To be globally aware, a manager must have knowledge of cultures, history, world market potential, and global economic, social, and political trends. Additionally, the manager will not succeed with respect to global awareness if he or she does not have: Ans a tolerance of cultural differences 65) The Ajax Corporation has ____________________ in that it actively does not cultivate customers outside the United States; however, this company products do reach foreign markets through trading companies. Ans no direct foreign marketing 66) If a company adopts a concept wherein it views an entire set of country markets as a unit, identifying groups of prospective buyers with similar needs as global market segment and developing a marketing plan that strives for standardization wherever it is cost and culturally effective, the company has adopted what is called the: Ans global marketing concept 67) Ongoing global technological marketing has Ans direct effects on the efficiency and effectiveness of all business activities. 68) The level of global investment is: Ans at an unprecedented high

69) Those firms and industries that are not participating in the world market have to recognize that Ans in today's trade environment, isolation has become impossible 70) The definition of marketing as it relates to goods, services and ideas is: Ans the process of planning an executing the conception, pricing, promotions and distribution 71) Which of the following is not considered one of the "four Ps of Marketing"? Ans Profit

72) Regardless of the type of market one is planning to enter or to continue to operate within, the: Ans the marketing basics do not vary. 73) Which of the following best describe the international product life-cycle theory? ANS Explain the movement from absolute advantage to comparative advantage 74) Identify which of the following is the demographic segmentation of business markets?

Ans Industry, company size and location 75) Which of the following countries is a very good illustration of a country that is considered to be LowContext/Explicit? ANS Switzerland 76) A variety of information is needed for successfully operating in international market. Which of the following information is required under the category of foreign exchange info? Ans Exchange rates, Balance of payments 77) Suppose you are paying charges to the financial institution against their services, such kind of transaction is belongs to which of the following category? Ans Banking fee 78) This country is the world's largest exporter Ans Germany

79) Midsize German companies' contribution to Germany's export success is: Ans significant 80) This definition of MNC focuses on the number of countries in which the firm does business and the citizenship of corporate owners and top management. Ans structure 81) This definition of MNC depends on the contribution of foreign operations in terms of earnings, sales, and assets Ans performance 82) This is the feeling within a culture that its values are superior to those of foreign cultures. Ans ethnocentricity 83) When a firm uses the same marketing strategies abroad aans s that used at home, it probably is: Ans ethnocentric 84) As a result of international trade and global interdependence, countries' inflation rates tend to: Ans Moderate 85) According to the textbook, international marketing is the multinational process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. The definition fails to recognize: Ans business-to-business marketing 86) Because of trade (and imports), inflation: Ans moderates 87) It is expected that, by the year 2042, the world's two largest economies will not include: Ans USA 88) According to the textbook, international marketing is the multinational process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. The definition fails to recognize: Ans Product, Place, promotion, pricing 89) The marketing mix (the 4 Ps of marketing) does not include: Ans practicality 90) The study of international marketing should focus primarily on: Ans Product, Place, promotion, pricing 91) To U.S. students, French marketing is Ans foreign marketing 92) This kind of international marketing study contrasts two or more marketing systems to identify similarities and differences Ans comparative marketing 93) For practical purposes, the difference between the concept of international marketing and the concept of multinational marketing is: Ans insignificant 94) The Transnationality Index, developed by United Nations Conference on Trade and Development, does not include this ratio in its composite

Ans foreign taxes/total taxes 95) MNCs are often associated with Ans exploitation, ruthlessness, power