BCOR 2201 EXAMS SCRIPT 2025/2026 QUESTIONS AND
SOLUTIONS GRADED A+ TIP
✔✔organizational buyers - ✔✔manufacturers, wholesalers, retailers, and government
agencies that buy products and services for their own use or for resale
✔✔Utility - ✔✔the capacity to be useful and provide satisfaction
form, place, time, possession
✔✔Market Segmentation - ✔✔the process of dividing a market into meaningful,
relatively similar, and identifiable segments or groups
that
1) have common needs
and 2) will respond similarly to a marketing action
✔✔product differentiation - ✔✔a positioning strategy that some firms use to distinguish
their products from those of competitors
✔✔5 key steps in segmenting and targeting markets - ✔✔1. Group potential buyers into
segments
2. Group products to be sold into categories
3. Develop a market-product grid and estimate size of markets
4. Select target markets
5. Take marketing actions to reach target markets
✔✔80/20 rule - ✔✔a concept that suggests 80 percent of a firm's sales are obtained
from 20 percent of its customers
✔✔Customer Lifetime Value (CLV) - ✔✔approximate worth of a customer to a company
in economic terms; overall profitability of an individual consumer
✔✔trade feedback effect - ✔✔imports affect exports and vice versa
✔✔Globalization - ✔✔focus on creating economic, cultural, political, and technological
interdependence among individual national institutions and economies.
✔✔Protectionism - ✔✔Economic policy of shielding an economy via quotas and tariffs
✔✔European Union - ✔✔An international organization of European countries formed
after World War II to reduce trade barriers and increase cooperation among its
members.
, ✔✔USMCA - ✔✔New "NAFTA": agreement between U.S, Mexico, and Canada aimed
to make fairer trades between the U.S and its neighbors
✔✔3 types of global companies - ✔✔international, multinational, transnational
✔✔international company - ✔✔engages in trade and marketing in different countries as
an extension of the marketing strategy in its home country
✔✔multinational corporation - ✔✔markets to each part of the world differently
✔✔Transnational Corporation - ✔✔views world as one market. Emphasizes cultural
similarities across countries and universal consumer needs/wants instead of differences
✔✔espionage - ✔✔collection of trade secrets or proprietary info
✔✔Cross culture analysis - ✔✔the study of similarities and differences among
consumers in two or more nations or societies
✔✔back translation - ✔✔retranslating a word or phrase back into the original language
using a different interpreter to catch errors
✔✔Global Entry Strategies - ✔✔export, licensing, joint venture, direct investment
✔✔Exporting - ✔✔producing goods in one country and selling them in another
- least profitable yet least risky
✔✔indirect exporting - ✔✔practice by which a company sells its products to
intermediaries who then resell to buyers in a target market
✔✔direct exporting - ✔✔practice by which a company sells its products directly to
buyers in a target market
✔✔Licencing - ✔✔a company offers rights to a trademark, patent, or IP in return for
royalty or fee. This offers low risk capital free entry into foreign countries
✔✔joint venture - ✔✔when a foreign company and a local firm invest together to create
a local business
✔✔direct investment - ✔✔Entering a foreign market by developing foreign-based
assembly or manufacturing facilities
✔✔how products are sold overseas - ✔✔extension, adaptation, invention
SOLUTIONS GRADED A+ TIP
✔✔organizational buyers - ✔✔manufacturers, wholesalers, retailers, and government
agencies that buy products and services for their own use or for resale
✔✔Utility - ✔✔the capacity to be useful and provide satisfaction
form, place, time, possession
✔✔Market Segmentation - ✔✔the process of dividing a market into meaningful,
relatively similar, and identifiable segments or groups
that
1) have common needs
and 2) will respond similarly to a marketing action
✔✔product differentiation - ✔✔a positioning strategy that some firms use to distinguish
their products from those of competitors
✔✔5 key steps in segmenting and targeting markets - ✔✔1. Group potential buyers into
segments
2. Group products to be sold into categories
3. Develop a market-product grid and estimate size of markets
4. Select target markets
5. Take marketing actions to reach target markets
✔✔80/20 rule - ✔✔a concept that suggests 80 percent of a firm's sales are obtained
from 20 percent of its customers
✔✔Customer Lifetime Value (CLV) - ✔✔approximate worth of a customer to a company
in economic terms; overall profitability of an individual consumer
✔✔trade feedback effect - ✔✔imports affect exports and vice versa
✔✔Globalization - ✔✔focus on creating economic, cultural, political, and technological
interdependence among individual national institutions and economies.
✔✔Protectionism - ✔✔Economic policy of shielding an economy via quotas and tariffs
✔✔European Union - ✔✔An international organization of European countries formed
after World War II to reduce trade barriers and increase cooperation among its
members.
, ✔✔USMCA - ✔✔New "NAFTA": agreement between U.S, Mexico, and Canada aimed
to make fairer trades between the U.S and its neighbors
✔✔3 types of global companies - ✔✔international, multinational, transnational
✔✔international company - ✔✔engages in trade and marketing in different countries as
an extension of the marketing strategy in its home country
✔✔multinational corporation - ✔✔markets to each part of the world differently
✔✔Transnational Corporation - ✔✔views world as one market. Emphasizes cultural
similarities across countries and universal consumer needs/wants instead of differences
✔✔espionage - ✔✔collection of trade secrets or proprietary info
✔✔Cross culture analysis - ✔✔the study of similarities and differences among
consumers in two or more nations or societies
✔✔back translation - ✔✔retranslating a word or phrase back into the original language
using a different interpreter to catch errors
✔✔Global Entry Strategies - ✔✔export, licensing, joint venture, direct investment
✔✔Exporting - ✔✔producing goods in one country and selling them in another
- least profitable yet least risky
✔✔indirect exporting - ✔✔practice by which a company sells its products to
intermediaries who then resell to buyers in a target market
✔✔direct exporting - ✔✔practice by which a company sells its products directly to
buyers in a target market
✔✔Licencing - ✔✔a company offers rights to a trademark, patent, or IP in return for
royalty or fee. This offers low risk capital free entry into foreign countries
✔✔joint venture - ✔✔when a foreign company and a local firm invest together to create
a local business
✔✔direct investment - ✔✔Entering a foreign market by developing foreign-based
assembly or manufacturing facilities
✔✔how products are sold overseas - ✔✔extension, adaptation, invention
