MK 101 Winter 2022 Exam #2 Chapters 4 & 6

Question 1

The clandestine collection of trade secrets or proprietary information about a company's competitors is referred to as

Accepted Answer

Economic Espionage

Question 2

The practice of shielding 1+ sectors of a country's economy from foreign competition through the use of tariffs or quota

Accepted Answer

Protectionism

Question 3

Consumer's purchases r influenced by opinions, or behavior of others. 2 important aspects of personal influence 2 mktg.

Accepted Answer

Opinion Leadership and Word-of-Mouth Activity

Question 4

When a firm sells a product in a foreign country below its domestic price or below its actual cost, it is referred to as

Accepted Answer

Dumping

Question 5

Sony electronics, Gillette razors, and Nike apparel & shoes are being sold in the same form in many countries. Ex. of?

Accepted Answer

Product Extension

Question 6

A restriction placed on the amount of a product allowed to enter or leave a country is referred to as a

Accepted Answer

Quota

Question 7

Direct exporting is when a firm sells its domestically produced products in a foreign country thru an intermediary.

Accepted Answer

False

Question 8

An estimated 10-15% of world trade involves ____, the practice of using barter rather than money for making global sales

Accepted Answer

Countertrade

Question 9

Unilever markets its Snuggle fabric softener differently to different parts of the world.Unilever is a(n) __ firm.

Accepted Answer

Multinational

Question 10

Cultural symbols are things that represent ideas and concepts in a specific culture. Also evoke deep feelings.

Accepted Answer

True

Question 11

The _____ is influenced by situational, psychological, sociocultural, and marketing mix influences.

Accepted Answer

Consumer Purchase Decision Process

Question 12

PepsiCo & TheStraussGroup have formed an Israeli business to market Frito-Lays Cheetos & Doritos in Israel mkt known as

Accepted Answer

A Joint Venture

Questions 12