Chapter 7: Quiz 7 In Tutorial Library

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TITLE: Chapter 7: Quiz 7

UNIVERSITY / INSTITUTE: Purdue University

CLASS / COURSE: MGMT 324 Marketing Management

QUESTION DESCRIPTION:

This tutorial has Quiz 7of course MGMT 324 Marketing Managment of Purdue University. 

 
1. Four major trends affecting world trade in the past decade are a gradual decline of economic protectionism exercised by individual countries, global competition among global companies for global customers, the emergence of networked global marketspace, and 
 
  Student Response Value Correct Answer Feedback
A. an increase of economic protectionism and a decline in free trade.  
B. redefined national boundaries and a more aggressive attitude towards initiating international tariffs and quota systems.  
 C. formal economic integration and free trade among nations. 100%    
D. a decrease in most countries' GDPs and a renewal of nationalism.  
E. an increase in most countries' GDPs coupled with an increased degree of consumer ethnocentrism.  
 
2. A quota is 
 
  Student Response Value Correct Answer Feedback
A. a government tax on goods or services entering a country.  
B. a government tax on goods or services leaving a country.  
 C. a restriction placed on the amount of a product allowed to enter or leave a country. 100%    
D. the minimum quantity of goods foreign manufacturers must produce in order to keep prices competitive.  
E. a limit on the number of foreign manufacturers from any single country allowed to compete in domestic markets.  
 
3. Which of the following statements about the World Trade Organization (WTO) is true? 
 
  Student Response Value Correct Answer Feedback
A. The World Trade organization is a temporary group that meets on an as needed basis.  
B. The 152 member countries of the WTO account for only 25% of world trade.  
C. The WTO sets rules governing trade between its members and the remainder of the world.  
D. The WTO uses panels of trade experts who can issue binding decisions.    
 E. The WTO was formed by the United Nations. 0%  
 
4. The European Union (EU) has benefited its member nations by providing 
 
  Student Response Value Correct Answer Feedback
A. the free flow of goods, services, capital, and labor across borders within the EU.  
B. abundant marketing opportunities because it is no longer necessary to market products and services on a nation-by-nation basis.  
C. European-wide distribution from fewer locations, given open borders.  
D. a common currency, the euro, which replaced 14 individual national currencies.  
 E. all of the above.    
 
5. The North American Free Trade Agreement (NAFTA) was designed to encourage free trade between 
 
  Student Response Value Correct Answer Feedback
A. North America, Central America, and South America.  
 B. the United States, Canada, and Mexico. 100%    
C. the United States and the European Union.  
D. member countries originally from NATO (North Atlantic Treaty Organization).  
E. North America and the Commonwealth of Independent States.  
 
6. Lever Europe, a division of Unilever, markets a fabric softener, known as Snuggle in the United States, in 10 European countries under seven brand names, which includes Kuschelweich in German, Coccolino in Italy, and Mimosin in France. These products have different packages, different advertising programs, and occasionally different formulas. From this information, we can assume that Lever Europe is a(n) __________ company. 
 
  Student Response Value Correct Answer Feedback
A. ethnocentric  
 B. multidomestic    
C. transnational  
D. polycentric  
E. international  
 
7. The process that involves the study of similarities and differences among consumers in two or more nations or societies is called 
 
  Student Response Value Correct Answer Feedback
A. international attitude evaluation.  
B. multigraphic societal scanning.  
C. polyphasic anthropology.  
 D. cross-cultural analysis.    
E. transnational anthropology.  
 
8. 3M Company executives were perplexed when the company's Scotch-Brite floor-cleaning product initially produced lukewarm sales in the Philippines. A Filipino employee explained that consumers generally clean floors by pushing coconut shells around with their feet. 3M changed the shape of the pad to a foot and sales soared. 3M changed its product in response to a Filipino 
 
  Student Response Value Correct Answer Feedback
A. idiosyncrasy.  
B. ethic.  
C. demographic pattern.  
 D. custom.    
E. belief.  
 
9. Back translation is 
 
  Student Response Value Correct Answer Feedback
A. recording the hidden meaning behind the written term.  
B. translating words from one foreign alphabet into another.  
C. recording the spoken word into a foreign transliteration.  
 D. retranslating a word or phrase into the original language using a different interpreter to catch errors. 100%    
E. hiring a professional interpreter to attend all major business meetings.  
 
10. A country's communication, transportation, financial, and distribution systems are considered to be its 
 
  Student Response Value Correct Answer Feedback
A. capital superstructure.  
B. fixed-asset infrastructure.  
 C. economic infrastructure.    
D. geopolitical network.  
E. competitive infrastructure.  
 
11. Indirect exporting is 
 
  Student Response Value Correct Answer Feedback
A. offering the right to a trademark, patent, trade secret, or similarly valued item of intellectual property in return for a royalty or fee.  
B. contracting with a foreign firm to manufacture products according to stated specifications.  
C. when a foreign country and a local firm invest together to create a local business.  
 D. when a firm sells its domestically produced goods in a foreign country through an intermediary. 100%    
E. when a firm sells its domestically produced goods in a foreign country without intermediaries.  
 
12. When a U.S. airplane manufacturer sells its airplanes to business executives in Germany without using intermediaries, it is called 
 
  Student Response Value Correct Answer Feedback
 A. direct exporting.    
B. indirect exporting.  
C. licensing.  
D. foreign manufacturing.  
E. foreign assembly.  
 
13. Tricon was the restaurant division of PepsiCo until it was spun off several years ago. Since then Tricon has opened 6,000 KFC restaurants abroad. It has 158 in Indonesia and more than 500 restaurants in China. All are locally owned, and the owner pays a fee to Tricon. Tricon is engaged in 
 
  Student Response Value Correct Answer Feedback
A. contract assembly.  
B. a joint venture.  
C. contract manufacturing.  
D. a partnership.  
 E. franchising.    
 
14. When a domestic firm actually invests in and owns a foreign subsidiary or division, it is called 
 
  Student Response Value Correct Answer Feedback
 A. direct investment.    
B. a joint venture.  
C. licensing.  
D. local manufacturing.  
E. local assembly.  
 
15. Global companies have five strategies for matching products and their promotion efforts to global markets. As Figure 7-4 shows, these strategies focus on whether a company extends or adapts its product and promotion message for consumers in different countries and cultures. Position "A" in Figure 7-4 represents the __________ strategy. 
 
  Student Response Value Correct Answer Feedback
 A. product extension    
B. communication adaptation  
C. product adaptation  
D. dual adaptation  
E. product invention

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