Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
International Business, 12e (Hill)
1) The set of choices the firm offers to its targeted markets is known as the marketing mix.
2) Four elements comprise the marketing mix: product attributes, distribution strategy,
communication strategy, and pricing strategy.
3) Markets can be segmented in only one way—by sociocultural factors.
4) The structure of market segments may differ significantly from country to country.
5) Products sell well when their attributes match consumer needs.
6) Firms based in less-developed nations tend to build a lot of extra performance attributes into
their products.
7) If a firm manufactures its product in a particular country, it can sell directly to the consumer, to
the retailer, or to the wholesaler. The same options are not available to a firm that manufactures
outside the country.
8) The four main differences between distribution systems worldwide are retail concentration,
channel length, channel exclusivity, and channel quality.
9) In a concentrated retail system, there are many retailers, none of which has a significant share of
the market.
10) An increase in car ownership, the number of two-income households, and the number of
households with a refrigerator have all contributed to the more fragmented retail system found in
developed countries.
11) Concentrated retail systems tend to promote the growth of wholesalers to serve retailers, which
lengthens channels.
12) The more fragmented the retail system, the more expensive it is for a firm to make contact with
each individual retailer.
13) The entry of large discount superstores such as Tesco and Carrefour has shortened channel
length in some countries.
14) Import agents are typically limited to independent trading houses.
15) Source effects occur when the receiver of the message evaluates the message based on the
context of the message.
16) A company that depends on mass media advertising to communicate its marketing message to
potential consumers is using a push strategy.
17) A push strategy makes sense when distribution channels are short.
18) In highly developed countries, in the context of communication, noise tends to be low.
19) The longer the distribution channel, the more intermediaries there are that must be persuaded
to carry the product for it to reach the consumer.
20) In a competitive market, prices have to be higher than in a market where the firm has a
monopoly.
21) Elasticity of demand for a product in a given country is determined by income level and
competitive conditions.
22) Predatory pricing refers to the fact that a firm's pricing strategy in one market may have an
impact on its rivals' pricing strategy in another market.
23) Firms pursuing a multipoint pricing strategy on an international scale will price low worldwide
in an attempt to build global sales volume as rapidly as possible.
24) "Creative destruction" makes it important for companies to stay on the leading edge of
technology.
25) The rate of new-product development seems to be lesser in countries where more money is
spent on basic and applied research and development.
26) Tight cross-functional integration among R&D, production, and marketing maximizes the
time to market.
27) For a product development team to function effectively and meet all its development
milestones, the team should be composed of at least one member from each key function.
28) The set of choices the firm offers to its targeted market is known as the
A) marketing mix.
B) marketing concept.
C) marketing strategy.
D) market promotion.
29) A major factor of success for new products is the closeness of the relationship between
A) finance and marketing.
B) marketing and R&D.
C) finance and materials management.
D) finance and R&D.
