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MKTG 508 TEST CH 21 QUIZ (2016)

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Question QUESTION 1 When companies are setting prices in different countries, the problem with setting a market-based price in each country is that ________. it allows intermediaries in low-price countries to reship their products to high-price countries the company would earn the same profits everywhere, regardless of the cost structure this strategy might price the product out of the market in countries where costs are high this strategy would make the price too high in poor countries and not high enough in rich countries it prevents the company from differentiating its products 5 points QUESTION 2 Dumping occurs when ________. a company entering a foreign market charges either less than its costs or less than it charges at home a company entering a foreign market charges more than the price in its home market a company entering a foreign market charges prices that are lower than those charged by its competitors in this market a company sets its price equal to its average cost of production a company exports its products to a foreign country to increase its revenue in spite of excess demand in the home country 5 points QUESTION 3 Forward invention is ________. creating a new product to meet a need in another country creating a new product to meet the need in the home country inventing products that are superior to competing offerings taking an existing product into a new market inventing something that as yet has no “market” 5 points QUESTION 4 Backward invention occurs when a firm ________. creates a new product to meet a need in another country reintroduces earlier product forms adapted to suit another country’s needs invents products that are similar to competing offerings takes an existing product into a new market produces its own raw materials 5 points QUESTION 5 Many U.S. firms prefer to sell in Canada, England, and Australia-rather than in larger markets such as Germany and France-because they feel more comfortable with the languages, laws, and culture, which reflect the ________ between these countries and the United States. self-serving bias coincident development psychic proximity cognitive dissonance backward invention 5 points QUESTION 6 ________ is one of the world’s largest single markets, with 25 member countries, a common currency, and more than 454 million consumers. NAFTA MERCOSUR The European Union APEC ASEAN 5 points QUESTION 7 When forces for global integration are low and forces for national responsiveness are high, a strategy that ________ makes sense. treats the world as a single market views the marketplace as completely homogeneous treats the world as a portfolio of national opportunities standardizes all elements of the marketing mix facilitates a straight extension 5 points QUESTION 8 According to Hofstede, cultures with low power distance are ________. collectivist assertive egalitarian risk-averse risk-tolerant 5 points QUESTION 9 As a result of the ad campaigns depicting Brazil as a multicultural land of carnivals and beaches, any mention of the country makes people think of sun and sand. This is an example of ________. anchoring effect target market impact regiocentrism country-of-origin effect cognitive dissonance 5 points QUESTION 10 Regional economic integration is defined as the creation of trading agreements between ________. a firm and its suppliers and distributors firms targeting the same market individual firms in an industry related industries blocs of countries 5 points QUESTION 11 Zodiac Inc. is one of the leading producers of designer bags in its country. The company is considering shifting some of its production to India. Which of the following could have prompted this move? People in India prefer imported designer bags. Zodiac can target a niche market of high-profile consumers who have a high income. Zodiac can improve its market share if it can offer better prices than its competitors. Peopl

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