MKTG 445 EXAM 2 UPDATED QUESTIONS AND
CORRECT ANSWERS
Question:
1. Gross National Product
Answer:
the total market value of all goods and services produced within the borders of a country during a specific
period
Question:
2. per-capita income
Answer:
a countrys average income per person
Question:
3. purchasing-power parity
Answer:
a theory that prices of internationally traded commodities should be the same in every country and
therefore that the true exchange rate s the ratio of these prices in any two countries
Question:
4. informal economy
Answer:
the totality of economic activity of individuals and businesses that operate without licenses, permits, or
reporting procedures required by law
Question:
5. bottom of the pyramid
Answer:
consumers in developing countries who earn less than $2 a day
Question:
6. market segmentation
Answer:
the aggregation of prospective buyers into groups that have common needs and will respond similarly to a
particular marketing strategy
Question:
7. cosmopolitans
Answer:
consumers who purchase global brands to enhance their self-image of being sophisticated and modern
Question:
8. global segments
, Answer:
transnational consumer segments based on lifestyle or demographics such as age an social class rather than
on nationality
Question:
9. mobile consumers
Answer:
consumers who are aware of and purchase foreign products because of exposure to foreign markets from
overseas work, study, or travel
Question:
10. just-like-us segments
Answer:
market segments in foreign countries that closely resemble marketers domestic buyers
Question:
11. cost-performance criterion
Answer:
the expected performance of industrial products or capital equipment relative to the costs to purchase and
use such products or equipment
Question:
12. national global buyers
Answer:
firms that search the world for product that are used in a single country or market
Question:
13. multinational global buyers
Answer:
firms that search the world for products to be used throughout their global operations
Question:
14. global account management
Answer:
the assignment of special account executives and service teams to handle the needs of valuable but
demanding global buyers
Question:
15. eligibility screen
Answer:
the initial requirement placed by governments on firms seeking to bid on government contracts in
developing countries; firms must be judged to be serious in their intent and large enough to handle the
contracts
Question:
16. procedural screen
CORRECT ANSWERS
Question:
1. Gross National Product
Answer:
the total market value of all goods and services produced within the borders of a country during a specific
period
Question:
2. per-capita income
Answer:
a countrys average income per person
Question:
3. purchasing-power parity
Answer:
a theory that prices of internationally traded commodities should be the same in every country and
therefore that the true exchange rate s the ratio of these prices in any two countries
Question:
4. informal economy
Answer:
the totality of economic activity of individuals and businesses that operate without licenses, permits, or
reporting procedures required by law
Question:
5. bottom of the pyramid
Answer:
consumers in developing countries who earn less than $2 a day
Question:
6. market segmentation
Answer:
the aggregation of prospective buyers into groups that have common needs and will respond similarly to a
particular marketing strategy
Question:
7. cosmopolitans
Answer:
consumers who purchase global brands to enhance their self-image of being sophisticated and modern
Question:
8. global segments
, Answer:
transnational consumer segments based on lifestyle or demographics such as age an social class rather than
on nationality
Question:
9. mobile consumers
Answer:
consumers who are aware of and purchase foreign products because of exposure to foreign markets from
overseas work, study, or travel
Question:
10. just-like-us segments
Answer:
market segments in foreign countries that closely resemble marketers domestic buyers
Question:
11. cost-performance criterion
Answer:
the expected performance of industrial products or capital equipment relative to the costs to purchase and
use such products or equipment
Question:
12. national global buyers
Answer:
firms that search the world for product that are used in a single country or market
Question:
13. multinational global buyers
Answer:
firms that search the world for products to be used throughout their global operations
Question:
14. global account management
Answer:
the assignment of special account executives and service teams to handle the needs of valuable but
demanding global buyers
Question:
15. eligibility screen
Answer:
the initial requirement placed by governments on firms seeking to bid on government contracts in
developing countries; firms must be judged to be serious in their intent and large enough to handle the
contracts
Question:
16. procedural screen
