Question 1

________ is an international market research company based in London that works with more than half of the Fortune 500 companies.

Accepted Answer

A)   Ipsos
B)   Nielsen
C)   NPD Group
D)   Kantar

Question 2

Explain the concept of price elasticity of demand. What are its determining factors?

Accepted Answer

The price elasticity of demand is a meas...

Question 3

A ________ strategy is generally favored by consumer goods firms that are trying to sell to a large segment of the market.

Accepted Answer

A)   push
B)   globalization
C)   pull
D)   localization

Question 4

The continuing persistence of ________ differences between nations acts as a major brake on any trend toward global consumer tastes and preferences.

Accepted Answer

A)   technological and industrial
B)   institutional and political
C)   cultural and economic
D)   GNP level and growth rate

Question 5

Explain briefly the regulatory influences on pricing.

Accepted Answer

The ability to engage in either price di...

Question 6

What are the two main issues that managers must be aware of when considering market segmentation in foreign countries?

Accepted Answer

There are two key issues that managers m...

Question 7

Designing for manufacturing

Accepted Answer

A)   decreases product quality.
B)   increases costs.
C)   can increase product quality.
D)   not only increases costs, but also lowers product quality.

Question 8

The rate of new-product development seems to be lesser in countries where more money is spent on basic and applied research and development.

Accepted Answer

A) True 
 B)False

Question 9

The most important aspect of a country's cultural differences, particularly important in foodstuffs and beverages, is the impact of

Accepted Answer

A)   values.
B)   traditions.
C)   norms.
D)   attitudes.

Question 10

Concentrated retail systems tend to promote the growth of wholesalers to serve retailers, which lengthens channels.

Accepted Answer

A) True 
 B)False

Question 11

In order for price discrimination to be successful,

Accepted Answer

A)   there must be a strong case for arbitrage.
B)   national markets must be kept separate.
C)   demand must be very elastic.
D)   a large change in demand must be triggered by a small change in price.

Question 12

Contrary to Levitt's suggestions, consumers in the most developed countries are often

Accepted Answer

A)   willing to sacrifice their preferred attributes for lower prices.
B)   not willing to pay more for products that have additional features customized to their tastes.
C)   not willing to sacrifice their preferred attributes for lower prices.
D)   willing to accept globally standardized products that have been developed with the lowest common denominator in mind.

Question 13

The entry of large discount superstores such as Tesco and Carrefour has shortened channel length in some countries.

Accepted Answer

A) True 
 B)False

Question 14

________ occurs whenever a firm sells a product for a price that is less than the cost of producing it.

Accepted Answer

A)   Resale
B)   Plunging
C)   Bootlegging
D)   Dumping

Question 15

A country with high car ownership, a large number of households with refrigerators, and a large number of two-income families tends to have

Accepted Answer

A)   retail division.
B)   retail dispersion.
C)   retail concentration.
D)   retail fragmentation.

Question 16

The process of identifying distinct groups of consumers whose purchasing behavior differs from others in important ways is known as

Accepted Answer

A)   demographic analysis.
B)   market segmentation.
C)   product mix.
D)   consumer behavior analysis.

Question 17

Many firms pursuing ________ pricing strategy on an international scale will price low worldwide in attempting to build global sales volume as rapidly as possible, even if this means taking large losses initially.

Accepted Answer

A)   a multipoint
B)   an experience curve
C)   a predatory
D)   a competitive

Question 18

In a competitive market, prices have to be higher than in a market where the firm has a monopoly.

Accepted Answer

A) True 
 B)False

Question 19

To overcome cultural barriers, companies should

Accepted Answer

A)   develop products specifically for each market.
B)   focus on universal needs.
C)   focus only on international market segments.
D)   develop cross-cultural literacy.

Question 20

New-product development

Accepted Answer

A)   rarely results in high returns.
B)   has a high failure rate.
C)   always earns enormous returns.
D)   has a low failure rate.

Exam 18: Global Marketing and R&D

In a competitive market, prices have to be higher than in a market where the firm has a monopoly.

Correct AnswerverifiedShow Answer

What are the two main issues that managers must be aware of when considering market segmentation in foreign countries?

Correct AnswerverifiedThere are two key issues that managers m...View AnswerShow Answer

A ________ strategy is generally favored by consumer goods firms that are trying to sell to a large segment of the market.

Correct AnswerverifiedShow Answer

________ is an international market research company based in London that works with more than half of the Fortune 500 companies.

Correct AnswerverifiedShow Answer

In order for price discrimination to be successful,

Correct AnswerverifiedShow Answer

Designing for manufacturing

Correct AnswerverifiedShow Answer

Concentrated retail systems tend to promote the growth of wholesalers to serve retailers, which lengthens channels.

Correct AnswerverifiedShow Answer

Explain the concept of price elasticity of demand. What are its determining factors?

Correct AnswerverifiedThe price elasticity of demand is a meas...View AnswerShow Answer

A country with high car ownership, a large number of households with refrigerators, and a large number of two-income families tends to have

Correct AnswerverifiedShow Answer

The entry of large discount superstores such as Tesco and Carrefour has shortened channel length in some countries.

Correct AnswerverifiedShow Answer

The continuing persistence of ________ differences between nations acts as a major brake on any trend toward global consumer tastes and preferences.

Correct AnswerverifiedShow Answer

Contrary to Levitt's suggestions, consumers in the most developed countries are often

Correct AnswerverifiedShow Answer

The most important aspect of a country's cultural differences, particularly important in foodstuffs and beverages, is the impact of

Correct AnswerverifiedShow Answer

Explain briefly the regulatory influences on pricing.

Correct AnswerverifiedThe ability to engage in either price di...View AnswerShow Answer

To overcome cultural barriers, companies should

Correct AnswerverifiedShow Answer

Many firms pursuing ________ pricing strategy on an international scale will price low worldwide in attempting to build global sales volume as rapidly as possible, even if this means taking large losses initially.

Correct AnswerverifiedShow Answer

New-product development

Correct AnswerverifiedShow Answer

________ occurs whenever a firm sells a product for a price that is less than the cost of producing it.

Correct AnswerverifiedShow Answer

The process of identifying distinct groups of consumers whose purchasing behavior differs from others in important ways is known as

Correct AnswerverifiedShow Answer

The rate of new-product development seems to be lesser in countries where more money is spent on basic and applied research and development.

Correct AnswerverifiedShow Answer

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There are two key issues that managers m...
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The price elasticity of demand is a meas...
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The ability to engage in either price di...
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