MKTG 465 Exam 1 (Quakenbos) Questions AND Correct
Answers
Assessing Country Attractiveness - ✔✔Identify countries that
offer the best fit for industry and business objectives while
minimizing risks associated with entering foreign markets.
B2B Elements of Value - ✔✔Inspirational Value (purpose),
individual value (career vs personal), ease of doing business
value (productivity, operational, access, strategic,
relationship), functional value (economic vs performance),
and table stakes (minimum entry requirement for a market or
business arrangement).
Branded House vs House of Brands - ✔✔- Branded House:
maintains the focus on a single, well-known and consistent
brand (Apple).
- House of Brands: home to numerous brands, each
independent of one another, and each with its own audience,
marketing, look and feel (Procter & Gamble).
Chapter 1 - ✔✔Why International Expansion
Chapter 1: Why (Short-Answer)
,What are the 5 key international expansion decisions? Use an
example to explain the process and briefly describe the steps
within. What are some of the related common risks when
considering international expansion? Elaborate. - ✔✔1.
Decision to Expand Abroad: successful electronics
manufacturer in the United States is considering international
expansion to grow its business. The first decision is whether it
should expand into foreign markets.
2. Selection of Target Country or Countries: decides to expand
abroad, now chooses the specific countries to enter.
3. Determining the Entry Mode: can choose between
exporting, licensing, joint ventures, or setting up subsidiaries.
4. Developing the Marketing Strategy: need to tailor to each
market (affordability to price-sensitive consumers, or high-
quality w/ innovative features).
5. Identifying Necessary Skills and Capabilities: evaluate the
skills and capabilities required for international expansion.
May need multilingual customer support and logistics
expertise to serve new markets effectively.
1. Currency Exchange Risk: impact the profitability of
international operations.
,2. Cultural and Language Barriers: can lead to
misunderstandings, miscommunication, and potentially harm
brand reputation.
3. Regulatory and Legal Risks: navigate complex legal
landscapes, including intellectual property rights, trade
regulations, and taxation.
4. Market Entry Risk: wrong entry mode or selecting the
wrong target market can lead to wasted resources and failure.
5. Competition: competing with established local competitors
can be challenging. If local rivals have a strong market
presence, it may be difficult for a new entrant to gain market
share.
6. Political Instability: political unrest, changes in government
policies, and geopolitical tensions.
7. Economic Factors: economic downturns or recessions can
reduce consumer spending and demand.
8. Supply Chain Disruptions: customs delays, transportation
issues, and logistical challenges can disrupt operations.
9. Brand Image and Reputation: exposed to different cust
Chapter 2 - ✔✔The "What" of International Marketing
Chapter 2: What (Short-Answer)
, Identify and briefly describe the 5C's within the business
definition phase when creating customer value for an
international expansion opportunity. Elaborate. -
✔✔(Customers, Company Competencies, Competition,
Collaborators, Context)
In the business definition phase of creating customer value for
an international expansion opportunity, the 5C's framework is
used to appraise the business situation. These 5C's help
provide a comprehensive understanding of the context and
conditions in both the home market and the foreign market.
In the business definition phase, a thorough analysis of these
5C's is crucial for making informed decisions about entering a
foreign market. For example, understanding the customers in
the target market (the first C) helps tailor product offerings
and marketing messages to meet their specific needs and
preferences. Assessing the company's competencies (the
second C) ensures that the organization can leverage its
strengths effectively in the foreign market.
Furthermore, analyzing the competitive landscape (the third
C) allows the company to identify potential opportunities for
differentiation or areas where it can outperform competitors.
Evaluating collaborators (the fourth C) helps in selecting the
right partners or distributors who can assist in market entry
and provide local expertise.
Answers
Assessing Country Attractiveness - ✔✔Identify countries that
offer the best fit for industry and business objectives while
minimizing risks associated with entering foreign markets.
B2B Elements of Value - ✔✔Inspirational Value (purpose),
individual value (career vs personal), ease of doing business
value (productivity, operational, access, strategic,
relationship), functional value (economic vs performance),
and table stakes (minimum entry requirement for a market or
business arrangement).
Branded House vs House of Brands - ✔✔- Branded House:
maintains the focus on a single, well-known and consistent
brand (Apple).
- House of Brands: home to numerous brands, each
independent of one another, and each with its own audience,
marketing, look and feel (Procter & Gamble).
Chapter 1 - ✔✔Why International Expansion
Chapter 1: Why (Short-Answer)
,What are the 5 key international expansion decisions? Use an
example to explain the process and briefly describe the steps
within. What are some of the related common risks when
considering international expansion? Elaborate. - ✔✔1.
Decision to Expand Abroad: successful electronics
manufacturer in the United States is considering international
expansion to grow its business. The first decision is whether it
should expand into foreign markets.
2. Selection of Target Country or Countries: decides to expand
abroad, now chooses the specific countries to enter.
3. Determining the Entry Mode: can choose between
exporting, licensing, joint ventures, or setting up subsidiaries.
4. Developing the Marketing Strategy: need to tailor to each
market (affordability to price-sensitive consumers, or high-
quality w/ innovative features).
5. Identifying Necessary Skills and Capabilities: evaluate the
skills and capabilities required for international expansion.
May need multilingual customer support and logistics
expertise to serve new markets effectively.
1. Currency Exchange Risk: impact the profitability of
international operations.
,2. Cultural and Language Barriers: can lead to
misunderstandings, miscommunication, and potentially harm
brand reputation.
3. Regulatory and Legal Risks: navigate complex legal
landscapes, including intellectual property rights, trade
regulations, and taxation.
4. Market Entry Risk: wrong entry mode or selecting the
wrong target market can lead to wasted resources and failure.
5. Competition: competing with established local competitors
can be challenging. If local rivals have a strong market
presence, it may be difficult for a new entrant to gain market
share.
6. Political Instability: political unrest, changes in government
policies, and geopolitical tensions.
7. Economic Factors: economic downturns or recessions can
reduce consumer spending and demand.
8. Supply Chain Disruptions: customs delays, transportation
issues, and logistical challenges can disrupt operations.
9. Brand Image and Reputation: exposed to different cust
Chapter 2 - ✔✔The "What" of International Marketing
Chapter 2: What (Short-Answer)
, Identify and briefly describe the 5C's within the business
definition phase when creating customer value for an
international expansion opportunity. Elaborate. -
✔✔(Customers, Company Competencies, Competition,
Collaborators, Context)
In the business definition phase of creating customer value for
an international expansion opportunity, the 5C's framework is
used to appraise the business situation. These 5C's help
provide a comprehensive understanding of the context and
conditions in both the home market and the foreign market.
In the business definition phase, a thorough analysis of these
5C's is crucial for making informed decisions about entering a
foreign market. For example, understanding the customers in
the target market (the first C) helps tailor product offerings
and marketing messages to meet their specific needs and
preferences. Assessing the company's competencies (the
second C) ensures that the organization can leverage its
strengths effectively in the foreign market.
Furthermore, analyzing the competitive landscape (the third
C) allows the company to identify potential opportunities for
differentiation or areas where it can outperform competitors.
Evaluating collaborators (the fourth C) helps in selecting the
right partners or distributors who can assist in market entry
and provide local expertise.
