Reference no: EM132301574

1. 3M Company executives were perplexed when the company's Scotch-Brite floor-cleaning product initially produced lukewarm sales in the Philippines. A Filipino employee explained that consumers generally clean floors by pushing coconut shells around with their feet. 3M changed the shape of the pad to a foot and sales soared. 3M changed its product in response to a Filipino

A. idiosyncrasy.                                  

B. ethic.                                  

C. demographic pattern.                    

D. custom.                                                

E. belief.

2. Generally, as the proportion of middle-income households in a country __________, the __________ a nation's purchasing power tends to be.

A. increases; greater                            

B. increases; less                    

C. decreases; greater                           

D. decreases; less                                    

E. There is no relationship at all

3. Producing goods in one country and selling them in another country is called

A. foreign exchange.                              

B. countertrading.   

C. transporting.                                       

D. exporting.                                            

E. facilitating.

4. Licensing is

A. offering the right to a trademark, patent, trade secret, or similarly valued items of intellectual property in return for a royalty or fee.

B. contracting with a foreign firm to manufacture products according to certain specifications.

C. when a foreign country and a local firm invest together to create a local business.

D. having a company handle its own exports directly, without intermediaries.

E. exporting through an intermediary, which often has the knowledge and means to succeed in selling a firm's product abroad.

5. When a foreign company and a local firm invest together to create a local business, it is called

A. direct exporting.                                 

B. a joint venture.                      

C. licensing.                                            

D. local manufacturing.                           

E. local assembly.

6. Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of product strategy?

A. product extension                             

B. product customization                   

C. product adaptation                             

D. product invention                                

E. product integration

7. Cultural symbols are things that

A. can be protected by international copyrights.

B. cannot be expressed by words or characters.

C. represent values that exist solely within a nation's boundaries.

D. represent ideas and concepts.

E. consist of pictures or designs that represent ideas and concepts that are considered to be universal.

8. Concept tests of plots using surveys, testing of marketing campaigns, sneak previews, and tracking studies are all examples of

A. marketing decision theory.                

B. SWOT analyses.                 

C. marketing research techniques.         

D. target audience identification techniques. 

E. surveys of experts.

9. The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions is called

A. market decision analysis.                 

B. statistical analysis.             

C. marketing research.                         

D. SWOT analysis.                                    

E. concept testing.

10. Decision making is

A. the act of consciously choosing to select the only possible alternative.

B. the act of consciously choosing between one positive alternative and all other negative alternatives.

C. the act of consciously choosing from alternatives.

D. the act of unconsciously choosing the alternative that presents the least amount of risk.

E. the act of unconsciously choosing the alternative that presents the greatest possible assurance of success.