A negative aspect of a low-cost leadership strategy is low customer loyalty. Show
The purpose of a combination strategy is to mix growth, retrenchment, and stability strategies across a corporation's business units. ________ is the process of dividing a company's activities into primary and support activities and identifying those that create value for customers. A ________ strategy often means designing products and promotions aimed at consumers who are either dissatisfied with existing choices or who want something distinctive. Scenario: TeleToys Inc. TeleToys recently opened eighteen new toy stores in Brazil. This move can best be described as a ________ strategy. Which of the following is a characteristic based on which products are typically differentiated? The closing of factories with unused capacity is an example of a stability strategy. An organizational structure that organizes a company's entire global operations into countries or geographic regions is referred to as a(n) ________ structure. Decentralization can help foster participative management practices. Objectives at the highest level in a company are always stated in the most specific terms. Core competencies are developed by organizations over long periods of time. Companies often establish largely independent, self-contained units in each of its national markets to implement a ________ strategy. According to value-chain analysis, inbound and outbound logistics are considered as ________. Offering the same products using the same marketing strategy in all national markets of an organization is referred to as a ________ strategy. Scenario: Beanstalk International Beanstalk managers know that the drawback of such an adaptive strategy is that it ________. does not allow companies to exploit scale economies in product development, manufacturing, and marketing The objectives at the ________ of an organization are typically more precise and contain numerical targets of performance. The scope of a corporation's operations refers to the size of its operations. Which of the following is considered as a support activity in an organization? A(n) ________ structure is best suited to companies that treat each national market as unique due to the vast cultural, political, or economic differences between nations. Companies that typically design promotional campaigns and advertising strategies at their headquarters are most likely to follow a ________ strategy. Scenario: Beanstalk
International Which of the following is a support activity that creates value for Beanstalk's customers? Organic growth refers to an organization's corporate strategy that relies on growth ________. A ________ strategy can create cost savings due to product and marketing standardization. A global strategy does not allow a company to modify its products except for the most superficial features. Which of the following strategies is designed to guard an
organization against change? Which of the following is a contractual entry mode in which a company owning intangible property grants another firm the right to use that property for a specified period of time? The biggest advantage of an export management company is usually its ________. knowledge of the target market's cultural, political, legal, and economic conditions Scenario: Gro-Tru Grows To Europe Which of the following methods would Gro-Tru be implementing if it exchanges its products directly for other goods or services without the use of money? Which of the following is a strategic factor that influences a company's international entry mode selection? Switch trading is the export of industrial equipment in return for products produced by that equipment. T/F Which of the following occurs when a company sells its products to intermediaries who then resell to buyers in a target market? Scenario: Sports Stuff Inc. Which of the following entry modes would Sports Stuff be implementing if it hires a company to design, construct, and test a production facility on its behalf? Which of the following steps of the strategy development process for exports involves performing market research and interpreting results obtained from the research? identification of a potential market Scenario: Gro-Tru Grows To Europe One option that intrigues Alistair is the process in which one company sells to another its obligation to make a purchase in a given country. This arrangement is known as ________. Buyback is defined as ________. the export of industrial equipment in return for products produced by that equipment Letters of credit are popular among traders because most of the risks are assumed by ________. Most large companies use exporting as a means of expanding total sales when the domestic market has become saturated. Which of the following is a contractual entry mode? Which of the following is the most common method of buying and selling goods internationally? Scenario: Gro-Tru Grows
To Europe In his research, Alistair discovers a type of arrangement in which industrial equipment is exported in return for products produced by that equipment. This arrangement is known as ________. Scenario: Wang's Techno Toys In some countries, people exchange electronic goods for Techno Toys instead of paying money for them. This practice is known as ________. Which of the following financing methods entails the greatest risk for exporters? A document ordering the importer to pay the exporter a specified sum of money at a specified time is called a ________. Which of the following occurs when a company sells its products to buyers in a target market without going through intermediary companies? export through local distributors A sight draft extends the period of time following delivery by which the importer must pay for goods. Advance payment made by an importer to an exporter normally takes the form of a sight draft. Selling goods or services that are paid for, in whole or part, with other goods or services is called ________. Advance payment is the least favorable method of payment collection for exporters. Scenario:
Owen's HomeCare Products If Owen's HomeCare Products decides to sell their products to intermediaries who then resell them to buyers in target markets, the company would be engaging in ________. In a backward integration joint venture, the parties choose to invest together in downstream business activities. Scenario: Silk Industries LLC If Silk Industries pressures channel members to carry a product and promote it to final users, it is using ________. Scenario: Silk Industries LLC If Silk Industries pressures channel members to carry a product and promote it to final users, it is using ________. The marketing communication process involves encoding and decoding of the promotional message. Product life cycles are becoming shorter because companies are undertaking new product development at
an increasingly rapid pace. The value of a product relative to its weight and volume is called its ________. A brand name can function as a legal property. T/F Emerging markets typically have fewer forms of mass media for use in implementing a pull strategy. Which of the following is a push strategy that companies use to promote their products? A(n) ________ channel places a single intermediary between the producer and the buyer. A distribution channel in which a producer grants the right to sell its product to many resellers is referred to as a(n) ________. Scenario:
Scooters Inc. Because Scooters Inc. caters to a very narrow niche of wealthy individuals, the CEO is interested in implementing a worldwide pricing scheme. Which of the following is most likely a reason for the establishment of such a scheme? Their customers have similar levels of purchasing power. Scenario: Scooters Inc. Ben knows that a pricing policy in which one selling price is established for all international markets is called ________. The process of sending messages about products to target markets is called ________. A ________ strategy is best suited for the promotion of industrial products because potential buyers usually need to be informed about a product's special features before purchase. A push strategy is the most efficient promotional strategy when distribution channels are lengthy. T/F A ________ strategy can be implemented successfully for communicating promotional messages only if a sufficiently large and profitable market segment exists. Which of the following communication strategies adapts a product to the requirements of the international market while retaining its original marketing communication? product adaptation/communications extension Scenario: Silk Industries LLC Which of the following would be most appropriate for its consumer product line? Scenario: Scooters Inc. Scooters Inc. has traditionally sold its products at one price in the domestic market and at another price in export markets, which is called a(n) ________ pricing strategy. A pricing policy in which a product has a different selling price in export markets than it has in the home market is called ________. Explain the effect of counterfeit goods and black markets on international product strategies. Companies try to protect their intellectual property and trademarks from counterfeit goods. Counterfeit goods are imitation products passed off as legitimate trademarks, patents, or copyrighted works-products that normally enjoy legal protection.
Because developing nations often are weakest in enforcing such legal protections, they normally have the most active counterfeiting markets. Countries that top the list for the portion of their markets comprised of counterfeits include China, India, Russia, Thailand, and Turkey. The free-market price that unrelated parties charge one another for a specific product is called a(n) ________. The value customers obtain from a product is heavily influenced by the image of the country in which the product is manufactured. Which of the following reflects the correct sequence of the marketing communication process? encoding; promotional message; decoding; feedback Once an audience receives a message, they interpret the meaning of the message by ________ it. An arm's length price is the price that is charged for products sold among a company's divisions or subsidiaries. Which of the following reasons encourages companies to make a product rather than buy it? Making a product gives managers greater control over the production process. A fixed asset can also be referred to as a ________ asset. Companies selling differentiated products find centralized production most effective.
Deciding the spatial arrangement of production processes within production units is called ________. facilities layout planning Scenario: Audio Component Outsourcing Which of the following most likely supports the argument of Echo managers to outsource some of the firm's manufacturing activities? Echo could save money by reducing the costs incurred in manufacturing the component parts. Scenario: Wilson Industries Inc. The board will also examine new production techniques the company could use to create its product. This examination is a part of ________. ________ refers to the foreign direct investment in factories, equipment, and land that cannot be pulled out of the market quickly. The process by which a company extends its control over additional stages of production is called ________. A firm that buys from another company a good or service that is part of the firm's value-added activities is practicing ________. Debt appeals to companies because it lowers the amount of taxes the companies must pay. Which of the following statements is true of outsourcing? It reduces political risk by enabling the company to avoid investing in plants and equipment abroad. Availability and cost of labor in the local market is crucial to process planning. Capacity planning applies only to manufacturing companies. The decentralization of production facilities is a typical policy for companies that pursue ________. Companies strive toward quality improvements for attaining economies of scale. _______ requires each individual to be focused on the quality of his or her own output. A British toy company manufactures all of its product lines in a single facility in Europe. Which of the following is the company demonstrating? Patient money is the cash that can be quickly withdrawn from a market in times of crisis. One reason to buy a product instead of making it in-house is the greater flexibility to respond to market conditions. Which of the following determines the process that a company will use to create its product? a firm's business-level strategy Which of the following processes will a computer assembling firm engage in if it decides to manufacture its own monitors and printers? Which of the following types of money adds to the volatility of emerging markets because it can be quickly withdrawn from its investment? Companies usually decide to reinvest when a market is experiencing rapid growth. Which of the following is a barrier to buying products from international suppliers? additional transportation costs Which of the following would companies do in markets that require long payback periods? Scenario: Mr. Yoshimura goes to Tennessee Mr. Yoshimura's daughters are extremely unhappy and have been complaining every night about their lifestyle in the United States. They insist on returning to Japan. If Mr. Yoshimura gives in to his family members' pleas and decides to return home, which of the following will most likely be true about his experience? His case will represent an instance of expatriate failure. Scenario: Gem Jewels To teach its employees the values, attitudes, manners, and customs of the host-country culture, Gem Jewels should offer ________. Which of the following is the correct order of the different methods of cultural training from the least advanced to the most advanced? cultural assimilation; language training; field experience An ethnocentric staffing strategy can facilitate the transfer of special know-how to branch operations. The major drawback of polycentric staffing
is the potential for losing control of the host-country operation. The major drawback of polycentric staffing is the potential to ________. lose control of host-country operations In ethnocentric staffing, operations outside the home country are managed by individuals from the
host country. Scenario: You're Hired! The new subsidiary's production facilities will employ approximately 100 full-time nonmanagerial workers. Who among the following will Erica most likely recruit to fill these positions? qualified workers from the local market Individuals from the home country manage operations outside the home country in ________ staffing Alec is an American working for a software company in Texas. He has been assigned to work on a project in China for a year. He would be considered as a(n) ________ in China. Which of the following is the first phase of human resource planning? taking an inventory of the company's current human resources Large international companies tend to make high-level labor decisions at the home office because ________. it gives them greater control over their network of operations around the world What factors influence the wages of nonmanagerial workers? Two main factors influence the wages of nonmanagerial workers. First, their compensation is strongly influenced by
increased cross-border business investment. Employers can relocate fairly easily to nations where wages are lower. In the home country, meanwhile, workers must often accept lower wages when an employer gives them a choice of accepting the reduction or watching their jobs move abroad. This situation is causing a trend toward greater equality in workers' pay around the world. This equalizing effect encourages economic development and improvement in workers' lives in some nations at the expense of
workers in other nations. The freedom with which an employer can relocate differs from country to country, however. Although firms in some countries are allowed to move with little notice, in others they are highly restricted. Some countries force companies to compensate workers who lose their jobs because of relocation. This policy is common in European countries that have erected extensive social safety nets for unemployed workers. Sensitivity training constitutes the most basic level of cultural training for managers on international assignments. Which of the following international assignment preparation methods involves a trainee feeling the stresses inherent in living in the culture? Which of the following constitutes the most basic level of training to prepare managers for international assignments? Codetermination allows labor representatives to participate in high-level company meetings. Which of the following is true of employee compensation in international companies? The greater mobility of labor affects the wages of nonmanagerial workers today. A(n)________ policy would give the foreign units of a company a degree of autonomy in decision-making. The process of reducing the size of an organization's workforce is called decruitment. Which of the following trains managers to be considerate and understanding of other people's feelings and emotions? _______ is the process of staffing a company and ensuring that employees are as productive as possible. Human resource management A geocentric staffing policy is generally reserved for ________. Companies typically recruit locally for nonmanagerial positions. Which of the following terms is defined as the process of identifying and attracting a qualified pool of applicants for vacant positions? Scenario: Silk Industries LLC If Silk Industries pressures channel members to carry a product and promote it to final users, it is using ________. The marketing communication process involves encoding and decoding of the promotional message. Is the term used to refer to a production technique in which inventory is kept to a minimum?The JIT production process means inventory levels are kept to a minimum.
Which of the following is not an issue in the decision to centralized or decentralized production facilities quizlet?Which of the following is NOT an issue in the decision to centralize or decentralize production facilities? Just-In-Time Manufacturing: This is not an issue in the decision to centralize or decentralize.
Which of the following should be true when a company is pursuing a capacity leading strategy?Which of the following should be true when a company is pursuing a capacity-leading strategy? Operations should always have sufficient capacity to meet demand. Operations should always have very high capacity utilization.
Which of the following is established by a company that has the option of either 1 acquiring or modifying existing factories or 2 building entirely new facilities?Many companies have the option of either (1) acquiring or modifying existing factories or (2) building entirely new facilities—called a greenfield investment.
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The centralization of production facilities is a typical policy for companies that pursue ________.
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