MKT 363 – Flashcard
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The essence of marketing worldwide is to surpass the competition in creating perceived value, which can be represented as:
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Value = Benefits/Price
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McDonald's serves McAloo Tikki Burger in India, McRice Burger in Malaysia, McOZ Burger in Australia, Kiwi Burger in New Zealand, and McHuevo Burger in Uruguay and McSamurai Burger in Thailand. These menu variations are examples of:
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a combination of global and local marketing mix elements
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All of the following correctly states McDonald's approach to standardization and adaptation of the marketing mix except: -McDonald's standardizes some place elements and adapts others. -McDonald's standardizes some product elements and adapts others. -McDonald's standardizes some price elements and adapts others. -McDonald's standardizes all product elements. -McDonald's standardizes some promotion elements and adapts others.
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McDonald's standardizes all product elements.
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A person who assumes that his or her home country is superior to the rest of the world is said to have:
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ethnocentric orientation.
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Unilever, the Anglo-Dutch consumer products company, at one time had 30 different package designs and 48 different formulations for its Rexona deodorant brand. This is an example of:
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polycentric orientation.
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Despite the impact of the driving forces, several restraining forces may slow a company's efforts to engage in global marketing. These restraining forces may include all of the following except:
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newcomers from emerging markets.
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Due to globalization, it is easier to categorize economic systems within the confines of a four-cell matrix.
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False
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Today, market capitalism is widely practiced around the world, most notably in North America and the European Union.
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True
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During the past two decades, the world economic environment has become increasingly dynamic. To achieve success, executives and marketers must take into account all of the following realities except:
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the struggle between capitalism and socialism continues.
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Market capitalism is an economic system in which:
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individuals and firms allocate resources and production resources that are privately owned.
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Low-income countries have a GNI per capita of less than $996. The general characteristics shared by countries at this income level include all of the following except:
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high literacy rates.
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Global marketers should take note of the fact that almost half of the world's population is located in:
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lower-middle income countries.
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The general characteristics shared by low-income countries do not include:
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lack of genuine market opportunities.
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Nike produces only a small portion of its output in China, but when the firm refers to China as a "two-billion-foot market," it is referring to the fact that:
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China is a potential future market.
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According to the authors of the Harvard Business Review article, "Serving the World's Poor, Profitably", which of the following is a mistaken assumption that global companies might have about the BOP (bottom of the pyramid)? -The poor have no money. -all of the above are mistaken assumptions discussed by the authors -People in BOP markets will be criticized for exploiting the poor. -The poor are too concerned with fulfilling basic needs to -People in BOP markets cannot use advanced technology.
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all of the above are mistaken assumptions discussed by the authors
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Which of the following is true about the Triad? -Triad countries account for approximately 50% of world income as measured by the World Bank. -Triad countries are those in which consumer products, industrial products, and the services sector each contribute one-third to GDP. -Triad countries account for approximately one-third of world income and one- third of world population. -Triad countries account for approximately 75% of world income as measured by GNP. -Triad countries account for approximately 25% of world income as measured by GNP.
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Triad countries account for approximately 75% of world income as measured by GNP.
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GATT (General Agreement on Tariffs and Trade) itself had no enforcement power, and the losing party in a dispute was entitled to ignore the ruling.
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True
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It is customary for countries to notify the WTO when they enter into preferential trade agreements.
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True
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A free trade area represents the most fully developed form of preferential trade agreement among nations
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False
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Which form of regional cooperation agreement, when fully implemented, entails creation of a unified central bank, the use of a single currency, and common policies on agriculture, social services and welfare?
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Economic Union
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Arrange the following in order from lowest to highest level of economic integration.
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free trade area→customs union→common market→economic union
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The original six members of the ASEAN (Association of Southeast Asian Nations) included all of the following countries except:
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India
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Which of the following ASEAN countries ranks number one in terms of two-way trade with the United States?
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Singapore
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The Maastricht Treaty called for:
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the creation of an economic and monetary union (EMU) in Europe.
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Political and social instability in the Middle Eastern region can primarily be attributed to:
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a wide gap between rich and poor nations due to oil revenues.
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In spite of having about 45% of the world's known oil reserves, Saudi Arabia and other Middle Eastern countries post current-account deficits, largely because:
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they must import most of the goods and services
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Culture includes both conscious and unconscious values, idea, attitudes, and symbols that shape human behavior and that are confined to one generation.
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False
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A "value" is an organized pattern of knowledge that an individual holds to be true about the world.
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False
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The cultural environment of a country is best defined by which characteristics?
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attitudes, beliefs, and values
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American Nancy McKinstry recently became the new CEO at Dutch publisher Wolters Kluwer. As Ms. McKinstry noted, she had to drop the word "aggressive" in describing her strategic plan to company managers. She said, "I learned that the word has a negative connotation to a lot of Europeans. I was coming across too hard, too much of a results-driven American to the people. I needed to get on board so I started describing our strategy as 'decisive' and that made all the difference." Which of the following grammar topics is the critical element in this passage?
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Semantics
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When the Coca-Cola Company was developing its new Dasani bottled water brand, linguists helped guide the naming process. For example, the recurring "a" was chosen because it has a soothing sound. In linguistics, issues pertaining to letters and sounds are matter of:
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Phonology
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A characteristic of a low-context culture which is prevalent in United States, Switzerland, and Germany is:
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messages are explicit and specific.
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In high-context cultures, time is:
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polychronic
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According to Geert Hofstede, which of the following is a key cultural dimension that helps account for rapid economic growth in Asia?
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Long-term orientation
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The power distance dimension reflects the degree of trust among members of society. Thus, the higher the power distance (PDI) the:
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lower is the level of trust.
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The Walt Disney Company's decision to build a theme park in France provides an excellent vehicle to understanding SRC (Self-Reference Criterion). All of the statements listed below portray this meaning except:
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Disney executives were blinded by their prior success and ethnocentrism.
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Many governments in developing countries exercise control over their nations' economic development by passing protectionist laws and regulations.
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True
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Political risk is the possibility of a change in a country's political environment or government policy that would positively affect a company's ability to operate effectively and profitably.
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False
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Which of the following is not a common-law country?
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Korea
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In West Africa, Burkina Faso, the Ivory Coast and Senegal are former French colonies, while Nigeria, Sierra Leone, and Ghana are former British colonies. Based on this information, which of the following would be correct?
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Burkina Faso, the Ivory Coast and Senegal are civil-code countries, while Nigeria, Sierra Leone, and Ghana are common-law countries
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Islamic law is a comprehensive code based in part on:
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the Koran
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In a recent case, Revlon sued United Overseas Limited (UOL) in U.S. District Court for the Southern District of New York for breach of contract. UOL countered by asking the court to dismiss the claim since they are not operating in that area. Revlon cited the presence of a UOL sign above the entrance to the offices of a New York company in which UOL had a 50-percent ownership. The court dismissed UOL's claim. This is an issue related with:
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jurisdiction
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Engineers at a company in a developing country study an American computer chip design, copy it, and produce identical chips that are then sold to local computer makers. What form of intellectual property has been wrongly appropriated?
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patent
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Harley-Davidson has applied for federal protection of an unusual form of intellectual property; the "soul-pleasing rumble" produced by its motorcycles. What type of protection is Harley-Davidson seeking?
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trademark
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The company receiving the most U.S. patents for the year 2009 is
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IBM
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OPEC can be considered as a "cartel" which is a group of separate companies that collectively:
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sets prices, controls output, or takes other actions to maximize profits.
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