Final Exam Flashcards by Ayanna Bryant

Which of the following is a proactive motivation to go international?
Question options:

Competitive pressures

Unique products

Overproduction

Excess capacity

Unique products

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The strongest proactive incentive to become involved in international marketing is _____.
Question options:

to avoid taxation

to control overproduction

the profit advantage

creation of excess capacity

the profit advantage

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A company that starts exporting its products or services within two years of its establishment is called a(n) _____.
Question options:

innate exporter

accidental exporter

export management company

trading company

innate exporter

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Under a _____ agreement, one firm permits another to use its intellectual property in exchange for royalty.
Question options:

personal contract purchase

franchising

hire purchase

licensing

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Which of the following costs is covered under the licensing agreement?
Question options:

Switching costs

Sunk costs

Fixed costs

Transfer costs

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Which of the following costs is covered under the licensing agreement?
Question options:

Switching costs

Sunk costs

Fixed costs

Transfer costs

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In _____, a parent company grants an independent entity the right to do business in a specified manner that includes the right to sell the parent company’s products and use its name, along with its production, preparation, and marketing techniques.
Question options:

leasing

a joint venture

hire purchasing

franchising

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Which of the following is a key impediment to international franchising?
Question options:

The protection of the total business system that a franchise offers

The franchisee’s concern about increased risks upon implementing a proven concept

Increased outflow of foreign exchange from recipient nations

The government’s concern regarding replacement of export jobs

The protection of the total business system that a franchise offers

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The United Nations defines _____ as “enterprises which own or control production or service facilities outside the country in which they are based.”
Question options:

trading companies

multinational corporations

shell corporations

export management companies

multinational corporations

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_____ incentives are specific tax measures designed to attract the foreign investor.
Question options:

Financial

Fiscal

Nonfiscal

Nonfinancial

Fiscal

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_____ incentives consist of guaranteed government purchases; special protection from competition through tariffs, import quotas, and local content requirements; and investments in infrastructure facilities.
Question options:

Financial

Fiscal

Nonfiscal

Nonfinancial

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Which of the following best describes the product or service a company offers for sale?
Question options:

A pertinent formation of space and time

A complex combination of tangible and intangible elements

A tangible benefit

An intangible offering

A complex combination of tangible and intangible elements

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After-sale services and warranties are the _____ elements of a product.
Question options:

intangible

augmented

core

packaging

augmented

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Which of the following is a product characteristic that affects product-adaptation decisions?
Question options:

Country of origin

Market opportunity

Purchase patterns

Culture

Country of origin

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Which of the following is a company consideration that affects product-adaptation decisions?
Question options:

Competitive offerings

Method of operation

Durability

Market opportunity

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What is the first step in the product development process?
Question options:

Process development

Feedback

Idea generation

Scale-up

Idea generation

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Services cannot be stored because of their _____.
Question options:

tangibility

perishability

consistency

market transparency

perishability

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_____ contradicts a firm’s desire to standardize its offering.
Question options:

Customer interaction

Service consistency

Imperishability

Market transparency

Customer interaction

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The time of production of a service is very close to the time of consumption. This requires _____.
Question options:

tangibility

constant maintenance of service capacity

close customer involvement

more market transparency

close customer involvement

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Services are often custom made because of _____.
Question options:

market transparency

close interaction with customers

tangibility

high imperishability

close interaction with customers

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To offer a service in real time, the firm requires _____.
Question options:

market transparency

regulatory practices

positive quality perception

service consistency

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If the details of the service are clear, comparable, and available to all interested parties, the seller of the service is said to have provided _____.
Question options:

service consistency

market transparency

service capacity

imperishability

market transparency

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A weather news service either reaches its audience quickly or rapidly loses its value. Which of the following characteristics of a service does this illustrate?
Question options:

Market transparencyarket transparency

Intangibility

Perishability

Heterogeneity

Perishability

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_____ services are comprised of telecommunications, insurance, banking, and logistics.
Question options:

Media

Accounting

Agricultural

Infrastructure

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Which of the following is an example of infrastructural services? Question options: Teaching House cleaning Radio Logistics

Logistics

A(n) _____ occurs if imports are greater than exports. Question options: trade surplus trade deficit currency crisis export surplus

trade deficit

The process of converting a message into a symbolic form so that it is properly understood by the receiver is called _____. Question options: forwarding encoding decoding kinesics

encoding

Once a sender has placed a message into a channel or a set of channels and directed it to the intended destinations, the completion of the process is dependent on the receiver’s _____. Question options: feedback forwarding decoding outcome

decoding

Which of the following is a kind of marketing in which the company, or one of its brands, is linked to issues such as environmental protection or children’s health? Question options: Loyalty marketing Cause-related marketing Relationship marketing Personalized marketing

Cause-related marketing

Developing the promotional message is referred to as _____. Question options: ambush marketing creative strategy sales promotion cooperative advertising

creative strategy

Which of the following is an advantage of the Internet? Question options: Every individual around the world is connected via the Internet. There are hardly any adjustments that need to be made by exporters for each market served. Internet diffusion always reaches the targeted customer. The Internet provides the opportunity to actually close sales.

The Internet provides the opportunity to actually close sales.

_____ marketing allows the creation of an individual relationship with each customer or prospect. Question options: Ambush Sponsorship Database Undifferentiated

Database

Which of the following statements about pricing is true? Question options: It cannot determine the long-term viability of an enterprise. It should be determined in isolation from the other marketing mix elements. It is a major competitive tool in meeting and beating close rivals and substitutes. It is the only element in the marketing mix that produces fixed costs.

It is a major competitive tool in meeting and beating close rivals and substitutes.

In first-time pricing, the objective of _____ is to achieve the highest possible contribution in a short time period. Question options: market pricing skimming penetration pricing predatory pricing

skimming

Which of the following is a reactive approach that may lead to problems if sales volumes never rise to sufficient levels to produce a satisfactory return? Question options: Market pricing Penetration pricing Multiple-product pricing Isolation pricing

Market pricing

Which of the following can marketers use to discourage other marketers from entering the market? Question options: Cost-plus pricing Changing pricing Multiple-product pricing Penetration pricing

Penetration pricing

Price changes are called for when: Question options: the value of the billing currency is stable. there is a change in the internal situation. a change occurs in a particular market segment. the costs of production are relatively constant.

there is a change in the internal situation.

In setting export prices, which of the following is an attribute of pricing policy determination? Question options: Flexibility Decision control Competitive posture Market-based differentiation

Market-based differentiation

Cost-driven and market-driven approaches to pricing products for export are associated with: Question options: standard worldwide pricing. dual pricing. market-differentiated pricing. single pricing.

dual pricing.

What is a letter of credit? Question options: It is an instrument issued by a bank at the request of a buyer in which the bank promises to pay a specified amount of money on presentation of documents stipulated in the letter. It is a letter which states that after the seller ships the goods, the shipping documents and the draft demanding payment should be presented to the importer through banks acting as the seller’s agent. It is a set of instructions given to shipping companies who have a line of vessels. It is an instrument of currency issued by a foreign government to the exporter.

It is an instrument issued by a bank at the request of a buyer in which the bank promises to pay a specified amount of money on presentation of documents stipulated in the letter.

Which of the following is true about channels of distribution? Question options: Their role is limited to providing essential linkages that connect raw material suppliers with manufacturers. They are independent agents who work to achieve individual, personal goals. They are the partners with whom marketing efforts are planned and implemented. They are temporary market-entry vehicles.

They are the partners with whom marketing efforts are planned and implemented.

The term “_____” refers to the length and width of the channel employed. Question options: channel bandwidth channel capacity channel freight channel design

channel design

Hybrid channels differ from dual channels in that hybrid channels: Question options: have one tier of distributors and resellers. use a single channel to enhance sales performance in a foreign market. are based more on cooperation and partnership. lead to conflicts if disagreements arise as to who is to handle a specific customer.

are based more on cooperation and partnership.

The exchange of goods and services via the use of smart mobile handheld devices that allow Web browsing is known as _____. Question options: outsourcing autonomic networking m-commerce communication security

m-commerce

_____ is the design and management of a system that controls the flow of materials into, through, and out of the international corporation. Question options: M-commerce Statistical process control Autonomic networking International logistics

International logistics

Electronic data interchange (EDI) aims for: Question options: manual recording of all customer data. providing a platform for customers to interact with each other globally. standardizing and eliminating the wastes during manufacturing. more efficient order processing.

more efficient order processing.

A _____ network is a communal structure consisting of individuals or organizations connected with each other through friendship, common interest, commercial transactions, information exchange, or other types of relationship. Question options: business technological social dependent

social

When a social network converges around shared interests, goals, values, or attitudes, it fosters a common identity among its members, which is called _____. Question options: a social community social loafing a social contagion social marketing

a social community

The extent to which people are exposed to, and influenced by, the knowledge, attitude, or behavior of others, particularly those in their peer group is known as social _____. Question options: undermining facilitation loafing contagion

contagion

Which of the following is an example of social contagion? Question options: A man purchasing an electronic gadget just because it was on sale A woman buying medicines over the counter that were prescribed by her doctor A retired man purchasing a house in an urban area so that he can socialize with wealthy people A middle-aged woman purchasing an anti-wrinkle cream just because her colleagues influenced her to try the product

A middle-aged woman purchasing an anti-wrinkle cream just because her colleagues influenced her to try the product

Which of the following is true about traditional marketing communications? Question options: They are two-way. They are inexpensive. They are the most efficient form of communications. They are fragmenting.

They are fragmenting.

Which of the following is true of traditional marketing communications? Question options: They are very well suited to smaller firms. They involve campaigns that have an unlimited life. They focus on a company-to-customer approach. They serve niche markets well.

They focus on a company-to-customer approach.

Social media differ from traditional media in that social media are _____. Question options: expensive fragmenting inefficient interactive

interactive

A(n) _____ is a Web site developed and maintained by a community of users who add informative content on a variety of topics. Question options: podcast aggregator wiki VoIP

wiki

An Internet _____ is essentially a site where people hold conversations in the form of posted messages. Question options: wiki forum podcast bulletin board

forum

Which of the following is a factor behind the success of social media-based communications? Question options: Emphasis on pushing or cajoling consumers to buy the firm’s products Implementation of static campaigns with a limited lifespan Minimum requirement of time and resources Ability to measure consumer behavior and target highly specific market segments

Ability to measure consumer behavior and target highly specific market segments

_____ is the measure of the inequality in the population and health profiles between rich and poor countries. Question options: Cocooning Demographic divide Death of distance Cultural gap

Demographic divide

Which of the following is true of technology? Question options: It increases the cost of performing functions. It is more developed in advanced nations. It is rarely accurate. It leads to inefficiency in marketing.

It is more developed in advanced nations.

Which of the following is expected at the micro level, with regard to culture? Question options: Cultural clashes Accountability Performance expectations Product preferences

Cultural clashes

Cocooning is: Question options: not influenced by technology. a trend that first appeared in 2001 after the terrorist attacks in the United States. observed only in the United States. not easy for people who engage in social exchange via social networking sites.

a trend that first appeared in 2001 after the terrorist attacks in the United States.

Kate, an editor, does most of her work from home because she finds it unsafe to go out. She shops online, watches movies on her television, and plays video games for entertainment. This lifestyle of Kate is referred to as _____. Question options: cocooning westernization indolence teleporting

cocooning

The sales of _____ have increased as a result of cocooning. Question options: movie tickets video games train tickets concert passes

video games

The sale of which of the following products or services would decrease as a result of cocooning? Question options: Movie tickets Video games DVDs Meal-preparation ingredients

Movie tickets

The concern about the world’s natural resources and sustainability has led to a variety of predictions about the future. Which of the following predictions is true? Question options: Governments will attempt to put less land into grain production. Farming will lose its attractiveness and profitability. Recycling and recovery will grow as vital business opportunities. There will be less emphasis on water conservation.

Recycling and recovery will grow as vital business opportunities.

Final Exam Flashcards

(65 cards)