MCS 4600 Final Exam 2023 with complete solution
Which of the following is a focus of the new concept of marketing?
using integrated marketing mix to achieve profits
Which of the following is a marketing mix element?
promotion
Which of the following statements is true about the strategic concept of marketing?
Its objective is to maximize stakeholder benefits.
Which of the following statements is true about global marketing?
Marketing practices must vary between different market segments.
Which of the following statements best describes the phrase "global localization" in a
nutshell?
A global marketer must adapt product marketing mix to the similarities and differences
in the world market.
A company that sees only the similarities between the domestic and the world market is
said to have a(n) ________ orientation.
ethnocentric
Levy Inc., a U.S.-based smartphone manufacturer, extends its line of high-end
smartphones to the Asian market to capitalize on the high demands for smartphones.
Owing to its huge success in the United States, Levy uses the same set of marketing
mix in the Asian markets. In this case, the company's management orientation is
referred to as ________.
ethnocentric
In a(n) ________ international company, foreign operations are viewed as being
secondary or subordinate to domestic operations.
ethnocentric
Which of the following management orientations views only the differences in the world
regions?
polycentric
Which of the following statements is true of a polycentric company?
Its marketing management is decentralized.
A(n) ________ company typically has a regiocentric or geocentric management
orientation.
transnational
Which of the following management orientations provides a worldview and sees the
similarities and differences in home and host countries?
geocentric
Latour Boutiques, which is based in Europe, views each section within the European
Union as a unique market and develops an integrated marketing strategy to sell its
products. Due to its success in the European territory, Latour exports its products to
other world markets sans any modifications. In this case, Latour's management
orientation is typically ________.
regiocentric
Which of the following companies is centralized in its market management strategies?
ethnocentric
Which of the following companies typically has a polycentric management orientation?
, multinational
Which of the following orientations is based only on home-country superiority?
ethnocentric
Which of the following is a driving force for global integration?
market needs
Which of the following is a restraining force behind global integration?
national controls
A(n) ________ corporation tries to link world resources to world market opportunities.
geocentric
Which of the following factors restrains ethnocentric companies from pursuing
opportunities in the global market?
management myopia
Which of the following statements is true about world economy?
The emergence of global markets has displaced local ones.
Which of the following statements is true about the trends in world economy?
The demand for natural resources will continue to grow.
Which of the following is characteristic of a pure market allocation system?
The consumers decide what goods will be produced and by whom.
Which of the following is characteristic of a command allocation system?
The state makes decisions on what consumers should purchase.
Which of the following is used to indicate the relative wealth of a country's citizenry?
Gross National Product
With regard to Gross National Product per capita, which of the following categories of
countries is considered to be developed?
high-income
Which of the following is characteristic of low-income countries?
heavy reliance on foreign aid
Which of the following categories of countries is referred to as a postindustrial country?
high-income
Which of the following is the most valuable economic variable used to chart strategic
plans for global market expansion of commercial products?
income
________ accounts for the largest share of output in less developed countries.
Agriculture
________ provides the best comparison of the standards of living in the countries of the
world.
Purchasing power parity
Which of the following is the primary output of the World Bank's International
Comparison Program?
purchasing power parities
Which of the following can be perceived from measuring actual individual consumption
across global markets?
The living standards of high-income countries differ from low-income countries.
Which of the following is the most important variable considered for identifying
opportunities in the global economy to sell low-priced products?
location of population
Which of the following is a focus of the new concept of marketing?
using integrated marketing mix to achieve profits
Which of the following is a marketing mix element?
promotion
Which of the following statements is true about the strategic concept of marketing?
Its objective is to maximize stakeholder benefits.
Which of the following statements is true about global marketing?
Marketing practices must vary between different market segments.
Which of the following statements best describes the phrase "global localization" in a
nutshell?
A global marketer must adapt product marketing mix to the similarities and differences
in the world market.
A company that sees only the similarities between the domestic and the world market is
said to have a(n) ________ orientation.
ethnocentric
Levy Inc., a U.S.-based smartphone manufacturer, extends its line of high-end
smartphones to the Asian market to capitalize on the high demands for smartphones.
Owing to its huge success in the United States, Levy uses the same set of marketing
mix in the Asian markets. In this case, the company's management orientation is
referred to as ________.
ethnocentric
In a(n) ________ international company, foreign operations are viewed as being
secondary or subordinate to domestic operations.
ethnocentric
Which of the following management orientations views only the differences in the world
regions?
polycentric
Which of the following statements is true of a polycentric company?
Its marketing management is decentralized.
A(n) ________ company typically has a regiocentric or geocentric management
orientation.
transnational
Which of the following management orientations provides a worldview and sees the
similarities and differences in home and host countries?
geocentric
Latour Boutiques, which is based in Europe, views each section within the European
Union as a unique market and develops an integrated marketing strategy to sell its
products. Due to its success in the European territory, Latour exports its products to
other world markets sans any modifications. In this case, Latour's management
orientation is typically ________.
regiocentric
Which of the following companies is centralized in its market management strategies?
ethnocentric
Which of the following companies typically has a polycentric management orientation?
, multinational
Which of the following orientations is based only on home-country superiority?
ethnocentric
Which of the following is a driving force for global integration?
market needs
Which of the following is a restraining force behind global integration?
national controls
A(n) ________ corporation tries to link world resources to world market opportunities.
geocentric
Which of the following factors restrains ethnocentric companies from pursuing
opportunities in the global market?
management myopia
Which of the following statements is true about world economy?
The emergence of global markets has displaced local ones.
Which of the following statements is true about the trends in world economy?
The demand for natural resources will continue to grow.
Which of the following is characteristic of a pure market allocation system?
The consumers decide what goods will be produced and by whom.
Which of the following is characteristic of a command allocation system?
The state makes decisions on what consumers should purchase.
Which of the following is used to indicate the relative wealth of a country's citizenry?
Gross National Product
With regard to Gross National Product per capita, which of the following categories of
countries is considered to be developed?
high-income
Which of the following is characteristic of low-income countries?
heavy reliance on foreign aid
Which of the following categories of countries is referred to as a postindustrial country?
high-income
Which of the following is the most valuable economic variable used to chart strategic
plans for global market expansion of commercial products?
income
________ accounts for the largest share of output in less developed countries.
Agriculture
________ provides the best comparison of the standards of living in the countries of the
world.
Purchasing power parity
Which of the following is the primary output of the World Bank's International
Comparison Program?
purchasing power parities
Which of the following can be perceived from measuring actual individual consumption
across global markets?
The living standards of high-income countries differ from low-income countries.
Which of the following is the most important variable considered for identifying
opportunities in the global economy to sell low-priced products?
location of population
