QUESTION Higher degrees of wealth are always generated by high-end businesses such as jewelers and lush seaside resorts. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: Business type is not a predictor of wealth. Many self-employed millionaires are engaged in agriculture, pest control, and other “unglamorous” fields.
QUESTION Which of the following is true of Theodore Levitt’s arguments concerning the globalization of world markets? A. Modern transportation is facilitating a convergence of tastes and preferences among consumers in advanced countries of the world. B. Academics feel that Levitt understates his case concerning global markets and the fall of multinational corporations. C. Globalization, […]
QUESTION Which of the following is a goal of market segmentation? A. To optimize the fit between the purchasing behavior of consumers in a given segment and the marketing mix B. To increase participation in shared global conversations by drawing upon shared symbols that include global brands C. To reduce cultural and economic differences which […]
QUESTION A technological innovation can make established products obsolete overnight. Indicate whether the statement is true or false. ANSWER TRUE Technological innovation is both creative and destructive. An innovation can make established products obsolete overnight.
QUESTION Which of the following is a definition of market segmentation? A. It refers to identifying distinct groups of customers whose needs, wants, and purchasing behavior differ from others. B. It refers to developing existing market segments and increasing market share within those segments. C. It refers to identifying the need for new products in […]
QUESTION In terms of pricing strategies, dumping occurs whenever an international firm sells a product for a price that is less than the price charged by domestic producers. Indicate whether the statement is true or false. ANSWER FALSE Dumping occurs whenever an international firm sells a product for a price that is less than […]
QUESTION Which of the following contradicts Theodore Levitt’s arguments for the globalization of world markets? A. Consumers in most developed countries do not sacrifice preferred attributes for lower prices. B. Tastes and preferences are becoming more cosmopolitan due to cultural convergence. C. Similar product and technical standards across countries help a firm sell the same […]
QUESTION Predatory pricing and experience curve pricing do not violate antidumping regulations. Indicate whether the statement is true or false. ANSWER FALSE The concept of strategic pricing has three aspects: predatory pricing, multipoint pricing, and experience curve pricing. Both predatory pricing and experience curve pricing may violate antidumping regulations.
QUESTION In terms of the factors affecting product attributes, the impact of which of the following is particularly important in foodstuffs and beverages? A. Language B. Nationality C. Religion D. Tradition E. Gender ANSWER D
QUESTION Predatory pricing exists whenever consumers in different countries are charged different prices for the same product, or for slightly different variations of the product. Indicate whether the statement is true or false. ANSWER FALSE Price discrimination exists whenever consumers in different countries are charged different prices for the same product, or for slightly […]
