Mkt 350 International Exam 2

Front 1

People in Brazil consider themselves Americans too. T or F?
They also always wear clean pressed jeans

Back 1

True

Front 2

A __ is a political association with effective dominion over a geographic area.

Back 2

State

Front 3

A state usually includes the ____ that claim the authoirty to make the rules that govern the people of the society in that territory.
Its status as a state often depends in part on being __________ as being sovereign

Back 3

set of institutions

recognized by a number of other states

Front 4

Globalization reflect a business orientation based on the belief that the world is becoming more ___ and that distinctions between NATIONAL markets are not only fading,but for some products, will eventually disappear.

Back 4

Homogeneous

Front 5

Teh strategic planning process:
Understanding and adjusting the core strategy begins with a clear definition of the business for which the strategy is to be developed. T or F?

Back 5

True

Front 6

The ____ is a common description of a division in a company.

Back 6

Strategic Business Unit

Front 7

U.S and Japan are some of the "pickiest consumers in the world. T or F?

Back 7

True

Front 8

___ is the recognition that groups within markets differ sufficiently to justify individual marketing mixes

Trick is to use an appropriate segmentation variable or combination of variables to identify these groups and create a ___ product for each of them and potentially alter promotions, pricing, and distribution for ___ of them.

Back 8

Segmentation

Standardize

Each

Front 9

"if you are not thinking __, you are not thinking" ~Phil Kotler

Back 9

Segmentation

Front 10

Global consumer Segments: (6)

Back 10

1.Strivers
2.Devouts
3.Altruists
4.Intimates
5.Fun seekers
6.Creatives

Front 11

___ - place more emphasis on material and professional goals than do other groups. more likely to be men.

Back 11

Strivers

Front 12

____ - tradition and duty are very important. 22% of adultss; women more than men

Back 12

Devouts

Front 13

____ - interested in social issues and social welfare.

Back 13

Altruists

Front 14

___ - value close personal and family relationships

Back 14

Intimates

Front 15

____ - high consumption of restaurants, bars, movies. youngest group

Back 15

Fun Seekers

Front 16

___ - strong interest in education, knowledge, and technology.

Back 16

Creatives

Front 17

Implenting a global marketing plan:
Success will come from a ___between local, regional, and global concerns.
Best market approach may not be black and white but rather _____
Product choices should consider ___ markets as well as transfer products from one region to another.

Back 17

balance

Shades of Gray

Individual

Front 18

To avoid the "Not-Invented-Here" syndrom: (2)

Back 18

1. Ensure that local managers participate in the develppment of global brand marketing strategies
2. Encourage local managers to develop ideas for regional or global use.

Front 19

The use of resources accumulated in one part of the world to compete for market share in another part of the world.

Back 19

cross-subsidization

Front 20

A market expansion policy characterized by focusing on and developing a small number of markets.

Back 20

Concentration

Front 21

A market expansion policy characterized by growth in a relatively large number of markets.

Back 21

Diversification

Front 22

Local resistance or decline in morale caused by the perception that headquarters is not sensitive to local needs.

Back 22

not-invented-here syndrome (NIH)

Front 23

The megamarkets of North American, Europe, and Asia-Pacific.

Back 23

Triad

Front 24

A local company whose assets are transferable, allowing it to compete head-on with established global players worldwide.

Back 24

Contender

Front 25

A local company that has assets that give it a competitive advantage only in its home market.

Back 25

Defender

Front 26

A company that is able to exploit its success at home as a platform for expansion elsewhere; this calls for markets or segments that are similar in terms of customer preferences.

Back 26

Extender

Front 27

A local company that sells out to a global player or becomes part of an alliance.

Back 27

Dodger

Front 28

____: "systematic and objective identification of information, collection, analysis, and dissemination of information for the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing."

Back 28

Marketing Research

Front 29

Most non-U.S marketing research is conducted in otherWestern countries, even though more than ___% of the world's consumers live in emerging consumer markets.

Back 29

80%

Front 30

Reasons that firms may be reluctant to view international research as important: (3)

Back 30

1. Lack of sensitivity to differences in consumer tastes and preferences
2. Lack of familiarity with national and international data sources and the inability to use them
3. Actual but limited business experience in a country with a specific firm may be used as a substitute for organized research

Front 31

Teh Japanese tend to use few extreme response categories than US respondents and have a stronger tendency to select items around the mid-range or neutral part of the scale. T or F?

Back 31

True

Front 32

In the centralized approach to coordinating international marketing, specifications such as focus, thrust, and design are directed by the home office to the local country operations for implementation.

Back 32

research specifications

Front 33

A substitute for a variable that one cannot directly measure.

Back 33

proxy variable

Front 34

Basic information needed to identify and compare key alternatives when a firm plans to launch international activities

Back 34

foreign market opportunity analysis

Front 35

Data is gathered to better understand situations, behavioral patterns, and underlying dimensions.

Back 35

qualitative data

Front 36

Data is amassed to assess statistical significance; surveys are appropriate research instruments.

Back 36

quantitative data

Front 37

Research carried out between nations, particularly those with similar environments, where the impact of uncontrollable macro variables is limited.

Back 37

international comparative research

Front 38

Reducing problems in the wording of questions by translating the question into a foreign language and having a second translator return the foreign text to the researcher’s native language.

Back 38

translation-retranslation approach

Front 39

Actions or wishes triggered by the expectation or preferences of one’s human environment.

Back 39

social desirability

Front 40

A step in the analysis of data in which the researcher determines what facts may have inadvertently skewed the responses; for example, if Italian responders report that very little spaghetti is consumed in Italy, the researcher may find that the responders were distinguishing between store-bought and homemade spaghetti.

Back 40

realism check

Front 41

Pretesting the survey is often not done because it is ___ and ___

Back 41

Time consuming and expensive

Front 42

Corporate Interests is the main reason we invaded alot of contries over the years. T or F?

Back 42

True

Front 43

Profits are the strongest catalyst to become involved in international marketing. T or F?

Back 43

True

Front 44

Firms invest to ___ and / or to asure themselves of sources of ___

Back 44

Enter Markets

Supply

*Governments do the same

Front 45

An equity investment to create or expand a permanent interest in a foreign enterprice such as through the purchase of manufacturers, distributors, sources of raw materials, etc.

Back 45

Foreign Direct Investment

*Especially likely when home currency is strong and target entity is of importance and of limited supply.

Front 46

____:the purchase of stocks and bonds internationally

Back 46

Portfolio Investment

Front 47

Resource seekers are searching for ____

Back 47

natural and human resources

Front 48

Market seekers are searching for ____

Back 48

better opportunities

Front 49

Efficiency seekers areattempting to obtain the most ____

Back 49

economic sources / factors of production

Front 50

A special form of joint ventures, consisting of arrangements between two or more companies with a common business objective. They are more than the traditional customer–vendor relationship, but less than an outright acquisition.

Back 50

Strategic alliance

Front 51

Collaborations of two or more organizations for more than a transitory period, in which the partners share assets, risks, and profits.

Back 51

Joint Ventures

Front 52

The introduction into a culture of new products or ideas or practices, which may lead to changes in consumption.

Back 52

Change Agent

Front 53

In a joint venture, one partner can piggyback by making use of the other’s strengths.

Back 53

Piggyback

Front 54

The use of overseas sales as a way to balance inventories or compensate for overproduction in the short term.

Back 54

safety-valve activity

Front 55

Costs incurred in negotiating licensing agreements; all variable costs resulting from transfer of a technology to a licensee, and all ongoing costs of maintaining the agreement.

Back 55

Transfer costs

Front 56

Legal construct designed to encourage small and medium-sized companies to participate in the international marketplace.

Back 56

export trading company (ETC)

Front 57

___: domestic firms that specialize in performing international marketing services such as marketing research, preparing advertising and sales literature in foreign languages, creating promotions, physically shipping the product, etc.
Typically becomes an integral part of the marketing operations of its client companies.

Back 57

Export Management Companies

Front 58

____ :agent for an importer/buyer with authority to clear incoming product throught customers and ship product to final destination. These brokers are paid a fee and are regulated by their national customs service.

Back 58

Customs Brokers

Front 59

Any goods bearing an unauthorized representation of a trademark patented invention , or copyrighted work that is legally protected in the country where it is marketed.

Back 59

Product Counterfeiting

Front 60

Product Counterfeiting costs US firms over ___ billion a year.

Largest number of counterfeit goods comes from ___

Back 60

60

China

Front 61

A system wherein foreign partners are selected and awarded the franchising rights to territory in which they, in turn, can subfranchise.

Back 61

master franchising system

Front 62

Firms which become international due to unsolicited orders, such as those placed via a Web site, requiring export; unplanned participation in the international market.

Back 62

accidental exporters

Front 63

Simplifying a product or service due to lack of purchasing power or usage conditions.

Back 63

backward innovation

Front 64

The presentation of a product or service to evoke a positive and differentiated mental image in the consumers’ perception.

Back 64

positioning

Front 65

Conforming a product or service to meet prevailing legal and regulatory conditions in the market.

Back 65

mandatory product adaptation

Front 66

A method by which many developed countries help developing nations to improve their economic condition by providing for the duty-free importation of a wide range of products

Back 66

Generalized System of Preferences (GSP)

Front 67

Conforming a product or service to meet prevailing social, economic, and climactic conditions in the market.

Back 67

discretionary product adaptation

Front 68

Elements added to a core product or service that serve to distinguish it from competing products or services.

Back 68

augmented features

Front 69

Do consumers have a preference for certain fragrances based on their ag, ethinicity, and climate?

Back 69

Yes!

Front 70

Adaptations in styling, color, size, and other appearance features play an importan role in how a consumer ___ a product.

Back 70

Perceives

Front 71

Excessive packaging common in one culture may be resented in cultures that focus on environmental degradation. T or F?

Back 71

True

Front 72

___ is essential to marketing products internationally especially in markets where price plays a less important role.

Back 72

Quality

ISO compliance may be required by foreign buyers

Front 73

Pricing is the only revenue generating element of the marketing mix. T or F?

Back 73

True

Front 74

Pricing is a means of ___ and ___ and offer to a potential buyer!

Back 74

attracting

communicating

Front 75

___occurs when a foreign importer asks a US exporter to enter an artifically low value on the commercial invoice and to supply a second invoice apart from the shipment for the difference between the commerical invoice value and the true transaction value.

Back 75

Under_invoicing

Front 76

___ arethe internationally accepted standard definitions for terms of sale set by the International Chamber of Commerce since 1936

Back 76

Incoterms

Front 77

___:price quoted covers costs only at the point of origin. Maximum burden for all other charges rests with buyer.

Back 77

exworks (EXW)

Front 78

____:seller delivers goods, with import duties paid, including land transportation from import point to the buyers doorstep. Maximum burden on seller.

Back 78

Delivered Duty Paid (DDP)

Front 79

Manufacturer's/exporter's main goal is to be paid for goods shipped!

Back 79

True

Front 80

Negotiations generally occur because 2 or more parties are trying to improve their ___ position.

Back 80

power/wealth

Front 81

Coordinating various promotional strategies according to target market and product characteristics, the size of budget, the type of international involvement, and control considerations.

Back 81

integrated marketing communications

Front 82

Exporter’s strategy to increase perceived attention to the foreign customer through call-center technologies, customer-service departments, and the company’s Web site

Back 82

customer relationship management

Front 83

After sales force costs, trade shows are one of the most significant cost items in marketing budgets. T or F?

Back 83

True

Front 84

The tools an international marketer has available to form a total communications program for use in a targeted market: advertising, personal selling, publicity, sales promotion, and sponsorship.

Back 84

Promotional Mix

Front 85

How to structure the distribution channels is the most important long-term marketing mix decision a firm may make and channel used should be consistent with positioning of the product. T or F?

Back 85

True

Front 86

An intermediary for the distribution of goods who earns a commission on sales. Less freedom of movement than distributors becaushe they operate on a comission basis and do not usually physically handle the goods.

Back 86

Agents

Front 87

An intermediary that purchases goods for resale through its own channels

Back 87

Distributor

Front 88

A distribution channel that requires dealing with another domestic firm that acts as a sales intermediary for the marketer, often taking over the international side of the marketer’s operations

Back 88

Indirect Exporting

Front 89

A distribution channel in which the marketer takes direct responsibility for its products abroad by either selling directly to the foreign customer or finding a local representative to sell its products in the market.

Back 89

Direct Exporting

Front 90

___: the financial requirements for setting up a channel system.

Back 90

Capital

Front 91

A ____is an agreement, usually with a bank, to exchange a specific amount of currencies sometime in the future for a specific rate - the forward exchange rate.

Back 91

Forward Contract

Doing this is also called financial hedging