GLOBAL MARKETING QUIZ BMGT 454 UMD | PRACTICE QUESTIONS & ANSWERS
| COMPREHENSIVE STUDY GUIDE 2026/2027
Market Penetration - correct answer ✔✔Using something in attempt to get as much as the
market as possible
Market development: - correct answer ✔✔entering and developing a new market
Product development - correct answer ✔✔Developing and offering / trying out a new product
(Ex: Starbucks Instant Coffee)
Diversification: - correct answer ✔✔Adding new additions (investing in more than just your
main service or product). This can help expand your market. (Ex: Starbucks bringing in Bay
Bread bakery and Teavana Holdings to add additional products)
Value = - correct answer ✔✔Benefits/Price
Increase value with: - correct answer ✔✔Competitive Advantage, Globalization, and Global
Industries. Access to cheaper production facilities and higher demand worldwide.
Marketing Mix: 4 Ps of marketing - correct answer ✔✔Place, Product, Promotion, Price
Value Chain: - correct answer ✔✔made up from sets of processes from marketing, product
design, manufacturing, and transportation logistics.
Ethnocentric Orientation: - correct answer ✔✔assume that products and practices that succeed
in their home country will succeed anywhere. They may believe that their country is superior to
the rest of the world and often ignore opportunities outside of their home country. These are
called domestic countries. If they do conduct business outside of the country then they are
, international companies. Marketing Approach: standardized or extension approach Ex: Nissan
trying to sell cars to Americans that don't start well. Japanese bought them because they had
special car blankets. (Mondavi)
Regiocentric Orientation: - correct answer ✔✔Typically focuses on one region or sometimes
multiple regions, splitting them up. Some example regions are all of the countries in NAFTA
(primarily the US, Canada, and Mexico), count as one region. Two more examples would be the
Europe Region or the Asia-Pacific Region. (Non- alcoholic Beer in the Middle East, non
carbonated water in Asian countries) Marketing Approach: Create different plans based on
region. Each region is generally managed by one person / team.
Polycentric Orientation: - correct answer ✔✔Opposite of ethnocentric. Believes that each
country in unique. (Ford, Fadder) Marketing Approach: localized / adaptation approach: believes
that products must be adapted to fit whatever market they are in. This can create big issues for
large companies if there is not enough communication. Ex: Unilever had 30 different package
designs and 48 different formulations for just 1 of its deodorant brands.
Geocentric Orientation: - correct answer ✔✔This is what a lot of large companies are aiming at
adopting. Believes that the whole world is a viable market and aims to develop integrated global
strategies. (also known as world or transnational companies) such as Toyota and GM. Ongoing
and dynamic research for adaptation. Also, where to make their cars and where to sell.
Marketing Approach: Also standardization with ongoing dynamic adaptation research
What are 6 driving forces of global integration / marketing? - correct answer ✔✔Multilateral
Trade Agreements, Converging market needs and wants, Improvements in transportation and
communication, Product Development Costs, Quality, and World Economic Trend
What are 4 Leverage advantages? - correct answer ✔✔Experience Transfer, Scale Economies,
Resource Utilization, and Global Strategy
| COMPREHENSIVE STUDY GUIDE 2026/2027
Market Penetration - correct answer ✔✔Using something in attempt to get as much as the
market as possible
Market development: - correct answer ✔✔entering and developing a new market
Product development - correct answer ✔✔Developing and offering / trying out a new product
(Ex: Starbucks Instant Coffee)
Diversification: - correct answer ✔✔Adding new additions (investing in more than just your
main service or product). This can help expand your market. (Ex: Starbucks bringing in Bay
Bread bakery and Teavana Holdings to add additional products)
Value = - correct answer ✔✔Benefits/Price
Increase value with: - correct answer ✔✔Competitive Advantage, Globalization, and Global
Industries. Access to cheaper production facilities and higher demand worldwide.
Marketing Mix: 4 Ps of marketing - correct answer ✔✔Place, Product, Promotion, Price
Value Chain: - correct answer ✔✔made up from sets of processes from marketing, product
design, manufacturing, and transportation logistics.
Ethnocentric Orientation: - correct answer ✔✔assume that products and practices that succeed
in their home country will succeed anywhere. They may believe that their country is superior to
the rest of the world and often ignore opportunities outside of their home country. These are
called domestic countries. If they do conduct business outside of the country then they are
, international companies. Marketing Approach: standardized or extension approach Ex: Nissan
trying to sell cars to Americans that don't start well. Japanese bought them because they had
special car blankets. (Mondavi)
Regiocentric Orientation: - correct answer ✔✔Typically focuses on one region or sometimes
multiple regions, splitting them up. Some example regions are all of the countries in NAFTA
(primarily the US, Canada, and Mexico), count as one region. Two more examples would be the
Europe Region or the Asia-Pacific Region. (Non- alcoholic Beer in the Middle East, non
carbonated water in Asian countries) Marketing Approach: Create different plans based on
region. Each region is generally managed by one person / team.
Polycentric Orientation: - correct answer ✔✔Opposite of ethnocentric. Believes that each
country in unique. (Ford, Fadder) Marketing Approach: localized / adaptation approach: believes
that products must be adapted to fit whatever market they are in. This can create big issues for
large companies if there is not enough communication. Ex: Unilever had 30 different package
designs and 48 different formulations for just 1 of its deodorant brands.
Geocentric Orientation: - correct answer ✔✔This is what a lot of large companies are aiming at
adopting. Believes that the whole world is a viable market and aims to develop integrated global
strategies. (also known as world or transnational companies) such as Toyota and GM. Ongoing
and dynamic research for adaptation. Also, where to make their cars and where to sell.
Marketing Approach: Also standardization with ongoing dynamic adaptation research
What are 6 driving forces of global integration / marketing? - correct answer ✔✔Multilateral
Trade Agreements, Converging market needs and wants, Improvements in transportation and
communication, Product Development Costs, Quality, and World Economic Trend
What are 4 Leverage advantages? - correct answer ✔✔Experience Transfer, Scale Economies,
Resource Utilization, and Global Strategy
