Global Marketing and R&D Quiz

Which of the following is not an element in the marketing mix?

• production strategy

• distribution strategy

• product attributes

• communication strategy

The main differences between distribution systems include all of the following except

• retail concentration

• channel exclusivity

• product attributes

• channel length

Standardized advertising makes sense in all of the following situations except

• when cultural differences among nations are significant

• when a firm is trying to save money

• when creative talent is scarce and one large effort to develop a campaign will be more successful than numerous smaller efforts

• when brand names are global

What Is Market Segmentation?

• Identifying distinct groups of consumers whose purchasing behavior differs from others in important ways

• Determining the price of a product in different countries

• Deciding on the distribution channels for a product

• Creating a new advertising campaign

How a product is delivered depends on the firm’s market entry strategy. Which of the following is not a possible option for firms that manufacture the product locally?

• Selling to an import agent

• Selling to the retailer

• Selling directly to the consumer

• Selling to the wholesaler

Communicating product attributes to prospective customers is a critical element in the marketing mix. Which of the following is not a communication channel available to a firm?

• Product manufacturing

• Direct selling

• Sales promotion

• Direct marketing

What Pricing Strategy Should Firms Use?

• Market segmentation

• Regulatory compliance

• Product standardization

• Price discrimination

What Is Price Discrimination?

• Selling products at a loss to gain market share

• Setting the same price for a product globally

• Occurs when firms charge consumers in different countries different prices for the same product

• Adjusting prices based on inflation rates

What Is Strategic Pricing?

• Retail concentration

• Channel exclusivity

• Experience curve pricing

• Predatory pricing

Firms today need to make product innovation a priority. Why is new product development important?

• To limit consumer choices

• To increase production costs

• To reduce competition

• To keep up with technological innovation