Quiz: IB-Lec-4 (international marketing)


IB-Lec-4Online version IB-Lec-4 by joseph hanany 1 Which of the following is the purpose of a company's value proposition? a to exceed customers' expectations b to force competitors into a price war c to identify consumers for whom the company creates products d to explain why a consumer should buy the company's products 2 A strategy that focuses on lowering operating costs is referred to as a ________ strategy. a differentiation b cost leadership c niche market d diversification 3 ________ are the two basic strategies for creating value and attaining a competitive advantage in an industry. a Diversification and niche marketing b Industry leadership and market dominance c Customer satisfaction and product innovation d Cost leadership and differentiation 4 A company that employs a(n) ________ strategy creates value by generating customer insights and translating those insights into innovations. a differentiation b diversification c cost leadership d innovation 5 A differentiation strategy works well when ________. a a company designs a universal product for a broad market b buyers believe minor product differences are irrelevant to price c buyers are highly sensitive to price shifts and quality control d a company can continually develop products that have unique features 6 Some companies that opt for the cost leadership strategy plan to sell products below the average industry prices in order to capture market share. a TRUE b FALSE 7 Executives at Wilson Enterprises need to determine how to leverage and improve the firm's existing competencies on a global basis. What are the two most basic questions that they must answer? a Which markets should we serve and where should production be located to serve those markets? b What are the short-term competitive advantages of the project and what is the return on investment? c What is the total investment required and what are the managerial resources needed to supervise the investment? d What is the availability of land and what is the cost of labor? 8 Because many regional trading groups prohibit companies from producing in more than one member country, companies need to understand how to evaluate international geographic alternatives. a TRUE b FALSE 9 When planning international geographic expansion, decision makers use scanning to reduce the number of options available to a manageable number for further detailed analysis. a TRUE b FALSE 10 Which of the following most accurately compares the techniques of scanning versus detailed analysis of countries? a Scanning is used for planning and detailed analysis is used for control. b Detailed analysis is used to consider countries overlooked in the scanning process. c Scanning considers a large number of countries so that only the most promising ones undergo a detailed analysis. d Scanning compares one country to another, whereas detailed analysis compares regions within a single country. 11 Markets are not always perfectly competitive and some firms consistently outperform industry averages. This suggests that firm performance is also influenced by the presence of bright, motivated managers and their keen sense of innovative products or processes. a TRUE b FALSE 12 Which of the following has the greatest potential to transform an industry's structure? a a change in a competitor's management b a change in a competitor's pricing structure c the expansion of a distribution channel d the exit of a competitor from the industry 13 ________ is the most common way of identifying market segments within a country. a Psychographics b The Internet c Gap analysis d Demographics 14 Which of the following is NOT a key stakeholder group that a company must work to satisfy in order to survive in a global environment? a employees b competitors c shareholders d customers 15 ________ is one of the primary business objectives for pursuing ethical behavior. a Replacing home-country technology with host-country technology b Minimizing federal investigations into corporate finances c Avoiding being perceived as a socially irresponsible firm d Imposing home-country behavior on the host country 16 Bantam Enterprises, a multinational enterprise, makes significant efforts to avoid being perceived as socially irresponsible. What is the most likely reason for this? a Social irresponsibility can lead to labor strikes by international unions. b Socially irresponsible companies usually have fewer exports and more imports. c Cultural barriers increase for companies that are socially irresponsible, which hinders expansion into additional countries. d Social irresponsibility can lead to negative publicity from nongovernmental organizations, which could hurt a company's reputation. 17 Which level of moral development involves an individual learning role-conformity from peers, parents, and laws? a conventional b principled c autonomous d preconventional 18 According to the teleological approach, individuals base moral decisions on ________. a personal and social responsibilities b consequences of an action c cultural value systems d opinions of peers 19 According to utilitarianism, actions are moral if they produce the greatest amount of good for the greatest number of people. Choose one or more answers a TRUE b FALSE 20 A manager practicing relativism would most likely ________. a adapt to local conditions instead of implementing home-country practices b enforce home-country laws on host-country employees and suppliers c refuse to change company policies and procedures to comply with local norms d apply universal laws to each country despite local customs and traditions 21 The belief that there are universal standards of behavior that all cultures should follow is called ________. a humanism b relativism c normativism d naturalism 22 Ethical dilemmas tend to be ________ for MNE managers than for domestic managers. a more complicated b less controversial c easier to decide d less common 23 Why is the argument that "anything legal is ethical" most likely insufficient? a Everything that is unethical is also illegal. b The law is an extremely efficient way to solve ethical dilemmas. c Laws are frequently based on imprecisely defined moral concepts. d Laws can never be changed; thus, rules for all possible ethical dilemmas are found in the law. 24 The argument that "anything legal is ethical" is insufficient as a basis for ethical behavior because the law usually does not apply to everyone and does not have enforceable rules. a TRUE b FALSE 25 Which of the following most likely complicates ethical behavior for firms that expand overseas? a local laws and values b expatriate management c unstable financial settings d ) international codes of conduct

1

Which of the following is the purpose of a company's value proposition?

a

to exceed customers' expectations

b

to force competitors into a price war

c

to identify consumers for whom the company creates products

d

to explain why a consumer should buy the company's products

2

A strategy that focuses on lowering operating costs is referred to as a ________ strategy.

a

differentiation

b

cost leadership

c

niche market

d

diversification

3

________ are the two basic strategies for creating value and attaining a competitive advantage in an industry.

a

Diversification and niche marketing

b

Industry leadership and market dominance

c

Customer satisfaction and product innovation

d

Cost leadership and differentiation

4

A company that employs a(n) ________ strategy creates value by generating customer insights and translating those insights into innovations.

a

differentiation

b

diversification

c

cost leadership

d

innovation

5

A differentiation strategy works well when ________.

a

a company designs a universal product for a broad market

b

buyers believe minor product differences are irrelevant to price

c

buyers are highly sensitive to price shifts and quality control

d

a company can continually develop products that have unique features

6

Some companies that opt for the cost leadership strategy plan to sell products below the average industry prices in order to capture market share.

a

TRUE

b

FALSE

7

Executives at Wilson Enterprises need to determine how to leverage and improve the firm's existing competencies on a global basis. What are the two most basic questions that they must answer?

a

Which markets should we serve and where should production be located to serve those markets?

b

What are the short-term competitive advantages of the project and what is the return on investment?

c

What is the total investment required and what are the managerial resources needed to supervise the investment?

d

What is the availability of land and what is the cost of labor?

8

Because many regional trading groups prohibit companies from producing in more than one member country, companies need to understand how to evaluate international geographic alternatives.

a

TRUE

b

FALSE

9

When planning international geographic expansion, decision makers use scanning to reduce the number of options available to a manageable number for further detailed analysis.

a

TRUE

b

FALSE

10

Which of the following most accurately compares the techniques of scanning versus detailed analysis of countries?

a

Scanning is used for planning and detailed analysis is used for control.

b

Detailed analysis is used to consider countries overlooked in the scanning process.

c

Scanning considers a large number of countries so that only the most promising ones undergo a detailed analysis.

d

Scanning compares one country to another, whereas detailed analysis compares regions within a single country.

11

Markets are not always perfectly competitive and some firms consistently outperform industry averages. This suggests that firm performance is also influenced by the presence of bright, motivated managers and their keen sense of innovative products or processes.

a

TRUE

b

FALSE

12

Which of the following has the greatest potential to transform an industry's structure?

a

a change in a competitor's management

b

a change in a competitor's pricing structure

c

the expansion of a distribution channel

d

the exit of a competitor from the industry

13

________ is the most common way of identifying market segments within a country.

a

Psychographics

b

The Internet

c

Gap analysis

d

Demographics

14

Which of the following is NOT a key stakeholder group that a company must work to satisfy in order to survive in a global environment?

a

employees

b

competitors

c

shareholders

d

customers

15

________ is one of the primary business objectives for pursuing ethical behavior.

a

Replacing home-country technology with host-country technology

b

Minimizing federal investigations into corporate finances

c

Avoiding being perceived as a socially irresponsible firm

d

Imposing home-country behavior on the host country

16

Bantam Enterprises, a multinational enterprise, makes significant efforts to avoid being perceived as socially irresponsible. What is the most likely reason for this?

a

Social irresponsibility can lead to labor strikes by international unions.

b

Socially irresponsible companies usually have fewer exports and more imports.

c

Cultural barriers increase for companies that are socially irresponsible, which hinders expansion into additional countries.

d

Social irresponsibility can lead to negative publicity from nongovernmental organizations, which could hurt a company's reputation.

17

Which level of moral development involves an individual learning role-conformity from peers, parents, and laws?

a

conventional

b

principled

c

autonomous

d

preconventional

18

According to the teleological approach, individuals base moral decisions on ________.

a

personal and social responsibilities

b

consequences of an action

c

cultural value systems

d

opinions of peers

19

According to utilitarianism, actions are moral if they produce the greatest amount of good for the greatest number of people.

Choose one or more answers

a

TRUE

b

FALSE

20

A manager practicing relativism would most likely ________.

a

adapt to local conditions instead of implementing home-country practices

b

enforce home-country laws on host-country employees and suppliers

c

refuse to change company policies and procedures to comply with local norms

d

apply universal laws to each country despite local customs and traditions

21

The belief that there are universal standards of behavior that all cultures should follow is called ________.

a

humanism

b

relativism

c

normativism

d

naturalism

22

Ethical dilemmas tend to be ________ for MNE managers than for domestic managers.

a

more complicated

b

less controversial

c

easier to decide

d

less common

23

Why is the argument that "anything legal is ethical" most likely insufficient?

a

Everything that is unethical is also illegal.

b

The law is an extremely efficient way to solve ethical dilemmas.

c

Laws are frequently based on imprecisely defined moral concepts.

d

Laws can never be changed; thus, rules for all possible ethical dilemmas are found in the law.

24

The argument that "anything legal is ethical" is insufficient as a basis for ethical behavior because the law usually does not apply to everyone and does not have enforceable rules.

a

TRUE

b

FALSE

25

Which of the following most likely complicates ethical behavior for firms that expand overseas?

a

local laws and values

b

expatriate management

c

unstable financial settings

d

) international codes of conduct

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	Anonymous	%
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IB-Lec-4Online version

by joseph hanany

Which of the following is the purpose of a company's value proposition?

A strategy that focuses on lowering operating costs is referred to as a ________ strategy.

________ are the two basic strategies for creating value and attaining a competitive advantage in an industry.

A company that employs a(n) ________ strategy creates value by generating customer insights and translating those insights into innovations.

A differentiation strategy works well when ________.

Some companies that opt for the cost leadership strategy plan to sell products below the average industry prices in order to capture market share.

Executives at Wilson Enterprises need to determine how to leverage and improve the firm's existing competencies on a global basis. What are the two most basic questions that they must answer?

Because many regional trading groups prohibit companies from producing in more than one member country, companies need to understand how to evaluate international geographic alternatives.

When planning international geographic expansion, decision makers use scanning to reduce the number of options available to a manageable number for further detailed analysis.

Which of the following most accurately compares the techniques of scanning versus detailed analysis of countries?

Markets are not always perfectly competitive and some firms consistently outperform industry averages. This suggests that firm performance is also influenced by the presence of bright, motivated managers and their keen sense of innovative products or processes.

Which of the following has the greatest potential to transform an industry's structure?

________ is the most common way of identifying market segments within a country.

Which of the following is NOT a key stakeholder group that a company must work to satisfy in order to survive in a global environment?

________ is one of the primary business objectives for pursuing ethical behavior.

Bantam Enterprises, a multinational enterprise, makes significant efforts to avoid being perceived as socially irresponsible. What is the most likely reason for this?

Which level of moral development involves an individual learning role-conformity from peers, parents, and laws?

According to the teleological approach, individuals base moral decisions on ________.

According to utilitarianism, actions are moral if they produce the greatest amount of good for the greatest number of people.

A manager practicing relativism would most likely ________.

The belief that there are universal standards of behavior that all cultures should follow is called ________.

Ethical dilemmas tend to be ________ for MNE managers than for domestic managers.

Why is the argument that "anything legal is ethical" most likely insufficient?

The argument that "anything legal is ethical" is insufficient as a basis for ethical behavior because the law usually does not apply to everyone and does not have enforceable rules.

Which of the following most likely complicates ethical behavior for firms that expand overseas?