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Starbucks is building on its loyalty card and rewards program in the United States

MKT 505 Midterm Exam (PERFECT SOLUTION) 1. Starbucks is building on its loyalty card and rewards program in the United States with a smartphone app that enables customers to pay for purchases electronically. The app displays a barcode that the barista can scan. This is an example of: Answer Market Penetration. Market Development. Market Diversification. Product Development. Global Marketing 2. Even though Germany is the largest single-country market in Europe, what percent of the world market potential for German companies is outside Germany? Answer 40% 55% 74% 94% 85% 3. In the United States, some people believe that globalization has depressed the wages of American workers and resulted in the loss of both blue-collar and white-collar jobs. This is an example of: Answer discrimination. domination. globaphobia. management myopia. economic crisis 4. When a country like China is experiencing rapid economic growth, policymakers are likely to: Answer look more favorably on outsiders. look less favorably on outsiders. experience more resistance toward outsiders. feel threatened by outsiders. 5. Upper-middle-income countries, also known as industrializing or developing countries, are those with GNI per capita ranging from: Answer $996 to $3,945 $3,946 to $12,195 $12,196 or higher less than $995 6. The term “Expanded Triad” includes all of the following countries or regions except: Answer Japan United States Canada Mexico Russia 7. When countries or regions experience currency and/or economic stress, all of the following events can take place except: Answer increased exposure to certain risks. new profit opportunities. lower local currency financing costs. bad debts occur. cancellation of aircraft equipment sales. 8. Which member of the Central American Integration System has both the largest economy and the largest population? Answer El Salvador Honduras Guatemala Nicaragua Costa Rica 9. In spite of having about 45% of the world’s known oil reserves, Saudi Arabia and other Middle Eastern countries post current-account deficits, largely because: Answer of poor accounting practices. of vast economic diversification. they must import most of the goods and services. most of the oil is exported. new businesses are being developed. 10. Argentina provides a good example of how a country can emerge from an economic crisis as a stronger global competitor. An example of emergency measures implemented by Argentina include: Answer Argentina reduced the duties on consumer goods. Argentina devalued its currency for exports and capital transactions. Argentina added tariffs on imported wines. Argentina adopted the U.S. dollar as official currency. Argentina added tariffs on wine produced within the country. 11. The Maastricht Treaty called for: Answer the creation of an Asia Free Trade Area (AFTA). the creation of an economic and monetary union (EMU) in Europe. Chile’s acceptance into Mercosur. the purchase of CDs and tapes from distributors in Europe. the creation of the seven-nation European Free Trade Association (EFTA). 12. If a marketing manager plans to enter the newly industrializing countries (NICs) or other Asia markets with a product that has proved to be successful in the home market, the product’s diffusion processes are likely to be: Answer negligible since consumers will take time to assess the relative advantage. much slower than in the home market. much faster than in the home market. similar to that in the home market. less compatible in the Asian market. 13. Which of the following shows the correct order of the product adoption process? Answer evaluation?trial?awareness?interest?adoption trial?interest?evaluation?awareness?adoption interest?awareness?adoption?trial?evaluation awareness?interest?evaluation?trial?adoption adoption?evaluation?trial?interest?awareness 14. Cultural influences are also quite apparent in food preparation and consumption patterns and habits. Domino’s Pizza, the world’s largest pizza-delivery company, pulled out of Italy because: Answer tomato sauce was too bold and competed with Italian products. people did not like to eat at home. Italians perceived its products to be “too American.” Italians wanted more toppings on thick crust. Italians did not like anyone else to use the name pizza. 15. As part of their alliance relationship, Northwest Airlines and KLM Royal Dutch set air fare prices jointly and coordinate flight schedules. Normally, such behavior would be considered harmful to competition, but the U.S. government has granted the two airlines special exemptions from laws concerning: Answer intellectual property. antitrust. jurisdiction. licensing. arbitration. 16. Any company doing business outside the home country should first carefully study the ________ in the target country. Answer political culture nationalization political risk jurisdiction sovereignty 17. The European Commission has jurisdiction over European-based companies as well as non-European ones that generate significant revenues in Europe. If Microsoft applies in Europe, the Commission has a right to all of the following except: Answer it can block a proposed merger. it can block a proposed joint venture. it can approve with minor modifications. it can demand substantial concessions before granting approval. it can refer serious matters to the UN Security Council. 18. Located in The Hague, the International Court of Justice (ICJ) is the judicial arm of the: Answer United States. European Union. United Nations. Netherlands. United Kingdom. 19. When the Coca-Cola Company convened focus groups in Europe and Asia to assess potential market acceptance of a contoured aluminum soft drink can, it was attempting to collect ________ data. Answer primary secondary incipient quantitative MIS 20. Which of the following is an IT tool designed specifically to help retailers work more closely with vendors on stock replenishment? Answer BOLD ECR data warehouse projection EDI 21. Campbell is the world’s largest soup company, commanding about 80% of the U.S. canned soup market. However, the company has a presence in only 6% of the world’s soup markets. Russians eat 32 billion servings of soup each year, and the Chinese consume 300 billion! By contrast, Americans eat 15 billion servings each year. Sensing a huge opportunity, Campbell has dispatched teams to observe Russian and Chines habits. This type of interpretation and decision is based on: Answer demand pattern analysis. income elastic analysis. time series displacement. polycentrism. comparative analysis. 22. A marketer of breakfast cereals might send researchers to preselected households at 6 A.M. to watch families go about their morning routines. The client could also assign a researcher to accompany family members to the grocery store to record their behavior under actual shopping conditions. This type of research method is considered as: Answer focus group. invasion of privacy. consumer panel study. factor analysis. observation. 23. Porsche AG uses the label “Top Guns” to describe one segment of its customers, namely those who care about power and control and who expect to be noticed. Such a profile would be based on which type of segmentation? Answer demographic occupational psychographic behavioral gender 24. The feasibility of targeting a particular market segment can be negatively impacted by various factors which does not include: Answer regulatory hurdles. cultural barriers. lack of distribution system. time required to establish business. surplus demand. 25. For years, ads for Volvo automobiles stressed safety features and protection in the event of a crash. Thus, Volvo automobiles developed a reputation based on which positioning strategy? Answer use/user attribute/benefit competition high touch quality/price

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