1. Customer lifetime value (CLV) refers to:

• A) The revenue a company generates from a customer over their lifetime
• B) The profit margin a customer provides in a single transaction
• C) The number of times a customer buys a product
• D) The cost to acquire a customer
  Answer: A) The revenue a company generates from a customer over their lifetime

2. Customer relationship management (CRM) is primarily focused on:

• A) Product innovation
• B) Managing customer interactions to build long-term loyalty
• C) Reducing product costs
• D) Focusing solely on customer acquisition
  Answer: B) Managing customer interactions to build long-term loyalty

3. Frequency programs are designed to:

• A) Reward loyal customers for repeat purchases
• B) Offer discounts to all customers
• C) Focus on product development
• D) Reduce marketing expenses
  Answer: A) Reward loyal customers for repeat purchases

4. Customer retention is critical for profitability because:

• A) It reduces marketing costs
• B) Acquiring new customers is more expensive than keeping existing ones
• C) It improves product quality
• D) It reduces customer complaints
  Answer: B) Acquiring new customers is more expensive than keeping existing ones

5. Customer satisfaction is defined as:

• A) Meeting financial goals
• B) The customer’s judgment of a product’s perceived performance relative to their expectations
• C) Lowering product prices
• D) A company’s internal performance metrics
  Answer: B) The customer’s judgment of a product’s perceived performance relative to their expectations

6. The Net Promoter Score (NPS) measures:

• A) A company’s profitability
• B) How likely customers are to recommend a product or service to others
• C) Customer complaints
• D) Employee satisfaction
  Answer: B) How likely customers are to recommend a product or service to others

7. A loyalty program is designed to:

• A) Reduce production costs
• B) Build long-term relationships with customers by offering rewards for repeat purchases
• C) Increase product variety
• D) Focus solely on attracting new customers
  Answer: B) Build long-term relationships with customers by offering rewards for repeat purchases

8. Customer churn refers to:

• A) Increasing customer loyalty
• B) The rate at which customers stop doing business with a company
• C) The frequency of customer complaints
• D) The number of new customers acquired
  Answer: B) The rate at which customers stop doing business with a company

9. Customer advocacy occurs when:

• A) Customers file complaints
• B) Customers actively promote a brand to others, based on their positive experiences
• C) Companies reduce prices
• D) New customers are acquired
  Answer: B) Customers actively promote a brand to others, based on their positive experiences

10. Service quality is crucial for loyalty because:

• A) It reduces the need for customer research
• B) High service quality leads to greater customer satisfaction and loyalty
• C) It increases product variety
• D) It decreases costs
  Answer: B) High service quality leads to greater customer satisfaction and loyalty

Analyzing Consumer Markets

11. The study of consumer behavior helps marketers understand:

• A) How consumers make decisions about purchasing products
• B) Employee performance
• C) Competitor strategies
• D) Product pricing
  Answer: A) How consumers make decisions about purchasing products

12. Psychological factors that influence consumer behavior include:

• A) Price and availability
• B) Motivation, perception, learning, and attitudes
• C) Product features
• D) Competitor actions
  Answer: B) Motivation, perception, learning, and attitudes

13. Perception in consumer behavior refers to:

• A) A consumer’s attitude toward a product
• B) How individuals select, organize, and interpret information to form a meaningful picture of the world
• C) Their opinion of a company’s service
• D) How customers compare prices
  Answer: B) How individuals select, organize, and interpret information to form a meaningful picture of the world

14. Maslow’s Hierarchy of Needs includes all of the following EXCEPT:

• A) Physiological needs
• B) Esteem needs
• C) Self-actualization needs
• D) Marketing needs
  Answer: D) Marketing needs

15. Culture in consumer behavior is:

• A) The social environment in which a consumer lives
• B) The personal opinions of a consumer
• C) A company’s internal policies
• D) The geographical location of the consumer
  Answer: A) The social environment in which a consumer lives

16. Subcultures in consumer markets include:

• A) Competitors
• B) Groups within a culture with shared values based on common experiences
• C) Price-sensitive customers
• D) Internal stakeholders
  Answer: B) Groups within a culture with shared values based on common experiences

17. Reference groups influence consumer behavior by:

• A) Encouraging customers to buy luxury items
• B) Providing points of comparison and influencing attitudes and behaviors
• C) Setting market prices
• D) Reducing brand loyalty
  Answer: B) Providing points of comparison and influencing attitudes and behaviors

18. A brand personality is:

• A) A company’s logo
• B) The human characteristics associated with a brand
• C) A product’s physical features
• D) A company’s legal name
  Answer: B) The human characteristics associated with a brand

19. Opinion leaders are:

• A) Competitors who influence market trends
• B) Individuals who influence others’ purchasing decisions due to their expertise or status
• C) Internal company executives
• D) Regulatory bodies
  Answer: B) Individuals who influence others’ purchasing decisions due to their expertise or status

20. Lifestyle segmentation divides consumers based on:

• A) Price sensitivity
• B) Their activities, interests, and opinions
• C) Product loyalty
• D) Product availability
  Answer: B) Their activities, interests, and opinions

21. Motivation in consumer behavior refers to:

• A) The influence of pricing on customer decisions
• B) The internal force that drives a consumer to satisfy a need or want
• C) A competitor’s marketing strategy
• D) The availability of products
  Answer: B) The internal force that drives a consumer to satisfy a need or want

22. Selective retention means:

• A) Consumers remember only information that supports their attitudes or beliefs
• B) Consumers forget all information after making a purchase
• C) Consumers avoid all marketing messages
• D) Consumers actively promote brands to others
  Answer: A) Consumers remember only information that supports their attitudes or beliefs

23. Post-purchase dissonance occurs when:

• A) Consumers are fully satisfied with a purchase
• B) Consumers feel uncertainty or regret after making a purchase decision
• C) Consumers recommend the product to others
• D) Competitors launch similar products
  Answer: B) Consumers feel uncertainty or regret after making a purchase decision

24. Attitudes are:

• A) Temporary opinions formed during a marketing campaign
• B) Consistent evaluations, feelings, and tendencies toward an object or idea
• C) The same as product preferences
• D) A competitor’s pricing strategy
  Answer: B) Consistent evaluations, feelings, and tendencies toward an object or idea

Analyzing Business Markets

25. Business markets differ from consumer markets because:

• A) They focus on selling luxury goods
• B) They involve larger transactions, fewer customers, and more complex buying processes
• C) They are only concerned with service quality
• D) They do not involve branding
  Answer: B) They involve larger transactions, fewer customers, and more complex buying processes

26. The primary buyers in a business market are:

• A) Consumers
• B) Organizations and institutions
• C) Small retailers
• D) Marketing agencies
  Answer: B) Organizations and institutions

27. Derived demand in business markets refers to:

• A) The demand for business products being driven by consumer demand for end products
• B) The demand for business products based on pricing
• C) The demand for luxury items
• D) The demand for promotional campaigns
  Answer: A) The demand for business products being driven by consumer demand for end products

28. A buying center in a business market refers to:

• A) A physical store where products are purchased
• B) A group of individuals within an organization who are involved in making purchasing decisions
• C) A product development team
• D) The customer service department
  Answer: B) A group of individuals within an organization who are involved in making purchasing decisions

29. The key members of a buying center typically include:

• A) Consumers
• B) Initiators, influencers, deciders, buyers, and gatekeepers
• C) Retailers and wholesalers
• D) Marketing managers only
  Answer: B) Initiators, influencers, deciders, buyers, and gatekeepers

30. New task buying in business markets refers to:

• A) A routine purchasing decision
• B) A company purchasing a product or service for the first time
• C) A purchase made by consumers
• D) A repeated order
  Answer: B) A company purchasing a product or service for the first time

31. A straight rebuy in a business market refers to:

• A) A new purchasing decision
• B) A routine reorder of a product or service without modifications
• C) A long-term purchasing decision
• D) A consumer purchasing decision
  Answer: B) A routine reorder of a product or service without modifications

32. A modified rebuy occurs when:

• A) A company makes a purchase with no changes
• B) The buyer seeks to modify product specifications, prices, or suppliers
• C) A company cancels a purchasing contract
• D) A consumer buys a new product
  Answer: B) The buyer seeks to modify product specifications, prices, or suppliers

33. Inelastic demand in business markets means:

• A) Demand changes significantly with price
• B) Demand remains relatively constant despite changes in price
• C) Demand fluctuates based on competitor actions
• D) Demand increases with seasonal trends
  Answer: B) Demand remains relatively constant despite changes in price

34. Reciprocal buying in business markets occurs when:

• A) One company agrees to buy from another if the second company agrees to buy from them
• B) A company buys in bulk
• C) Competitors collaborate to purchase goods
• D) A consumer buys based on promotional offers
  Answer: A) One company agrees to buy from another if the second company agrees to buy from them

35. Vendor analysis in business markets involves:

• A) Evaluating consumer preferences
• B) Assessing the strengths and weaknesses of suppliers
• C) Identifying new competitors
• D) Conducting customer satisfaction surveys
  Answer: B) Assessing the strengths and weaknesses of suppliers

36. The buying process in business markets is often:

• A) Short and simple
• B) Long and involves multiple decision-makers
• C) Based on impulse decisions
• D) Focused only on price
  Answer: B) Long and involves multiple decision-makers

37. E-procurement refers to:

• A) The process of purchasing goods or services electronically, often through online platforms or electronic data interchange (EDI)
• B) Hiring employees online
• C) Marketing products through email campaigns
• D) Developing digital products
  Answer: A) The process of purchasing goods or services electronically, often through online platforms or electronic data interchange (EDI)

38. Reverse auctions in business markets involve:

• A) Suppliers bidding for a buyer’s business, often leading to lower prices
• B) Consumers competing for a product
• C) Companies selling off excess inventory
• D) Retailers offering discounts
  Answer: A) Suppliers bidding for a buyer’s business, often leading to lower prices

39. Global sourcing in business markets refers to:

• A) Buying products from local suppliers
• B) Procuring goods or services from suppliers located in different countries
• C) Focusing on domestic markets
• D) Ignoring international markets
  Answer: B) Procuring goods or services from suppliers located in different countries

40. A systems buying approach in business markets means:

• A) Buying products in individual units
• B) Purchasing a complete solution from a single supplier, often including hardware, software, and services
• C) Focusing on price comparison
• D) Making a one-time purchase
  Answer: B) Purchasing a complete solution from a single supplier, often including hardware, software, and services

Tapping into Global Markets

41. Global marketing refers to:

• A) Selling products only in domestic markets
• B) Developing and selling products to customers worldwide
• C) Ignoring international competition
• D) Focusing solely on local customers
  Answer: B) Developing and selling products to customers worldwide

42. Exporting is:

• A) The process of selling products to foreign markets while producing them domestically
• B) The same as importing
• C) A way to reduce domestic competition
• D) A method for reducing product costs
  Answer: A) The process of selling products to foreign markets while producing them domestically

43. Licensing in global markets means:

• A) Producing goods in foreign markets
• B) A company allowing another company to use its intellectual property in exchange for a fee or royalty
• C) Selling products in local markets
• D) Reducing marketing efforts internationally
  Answer: B) A company allowing another company to use its intellectual property in exchange for a fee or royalty

44. Franchising in global markets is:

• A) A method of direct exporting
• B) A form of licensing in which the franchisor allows the franchisee to operate a business using its brand and business model
• C) Selling products online only
• D) A strategy for reducing competition
  Answer: B) A form of licensing in which the franchisor allows the franchisee to operate a business using its brand and business model

45. A joint venture involves:

• A) Two companies forming a partnership to enter a new market
• B) A company producing goods for another company
• C) A consumer buying from two companies at once
• D) Two competitors merging
  Answer: A) Two companies forming a partnership to enter a new market

46. Direct investment in global markets refers to:

• A) Exporting goods
• B) A company directly investing in production or business facilities in a foreign market
• C) Selling products online only
• D) Licensing intellectual property
  Answer: B) A company directly investing in production or business facilities in a foreign market

47. Standardized global marketing involves:

• A) Tailoring products to each country’s specific needs
• B) Using the same marketing strategy worldwide
• C) Reducing marketing budgets internationally
• D) Ignoring global markets
  Answer: B) Using the same marketing strategy worldwide

48. Adapted global marketing means:

• A) Selling products with no changes
• B) Tailoring marketing strategies to meet the needs and preferences of local markets
• C) Exporting goods with no adjustments
• D) Ignoring local regulations
  Answer: B) Tailoring marketing strategies to meet the needs and preferences of local markets

49. Tariffs are:

• A) Taxes on imported goods
• B) Discounts on exported products
• C) Fees for international licensing
• D) A type of global marketing strategy
  Answer: A) Taxes on imported goods

50. Non-tariff barriers include:

• A) Import taxes
• B) Restrictions on the amount of goods that can be imported, such as quotas, regulations, and trade agreements
• C) Lowering prices on exports
• D) Increasing domestic production
  Answer: B) Restrictions on the amount of goods that can be imported, such as quotas, regulations, and trade agreements

51. Global branding requires:

• A) Focusing only on one market
• B) Consistent messaging, positioning, and identity across international markets
• C) Offering different prices in every country
• D) Ignoring local preferences
  Answer: B) Consistent messaging, positioning, and identity across international markets

52. Emerging markets are:

• A) Countries with well-established economies
• B) Developing countries with rapid growth and increased industrialization
• C) Countries with declining economies
• D) Only countries in Europe
  Answer: B) Developing countries with rapid growth and increased industrialization

53. Market entry strategies for global markets include all of the following EXCEPT:

• A) Exporting
• B) Licensing
• C) Franchising
• D) Internal cost reduction
  Answer: D) Internal cost reduction

54. Countertrade in global markets refers to:

• A) Bartering goods or services instead of using cash
• B) Increasing tariffs on goods
• C) Standardizing marketing strategies
• D) Increasing global competition
  Answer: A) Bartering goods or services instead of using cash

55. Cultural differences in global marketing:

• A) Do not impact purchasing decisions
• B) Must be understood and respected to create effective marketing strategies
• C) Can be ignored in standardized marketing
• D) Are only relevant in emerging markets
  Answer: B) Must be understood and respected to create effective marketing strategies

56. Glocalization refers to:

• A) Using the same marketing strategy worldwide
• B) Adapting a global product to meet local needs and preferences
• C) Focusing only on domestic markets
• D) Ignoring cultural differences
  Answer: B) Adapting a global product to meet local needs and preferences

57. Foreign direct investment (FDI) occurs when:

• A) A company outsources its production
• B) A company invests directly in the infrastructure and business of another country
• C) A company focuses on importing goods
• D) A company reduces its global marketing efforts
  Answer: B) A company invests directly in the infrastructure and business of another country

58. Market potential in global markets is evaluated based on:

• A) Population size, income levels, and economic growth
• B) Domestic competition only
• C) The company’s internal resources
• D) Global tariffs
  Answer: A) Population size, income levels, and economic growth

59. Political risk in global markets refers to:

• A) The impact of local competitors
• B) The potential for government actions to negatively affect business operations
• C) Changes in customer preferences
• D) Fluctuations in currency exchange rates
  Answer: B) The potential for government actions to negatively affect business operations

60. Economic integration refers to:

• A) Countries reducing tariffs and trade barriers to facilitate the free flow of goods and services
• B) Companies expanding into new markets
• C) Increasing the use of local suppliers
• D) Standardizing global marketing strategies
  Answer: A) Countries reducing tariffs and trade barriers to facilitate the free flow of goods and services

61. Standardized product strategies are more effective when:

• A) Cultural differences are minimal across markets
• B) Local preferences vary significantly
• C) A company is only selling to one market
• D) A company has no competitors
  Answer: A) Cultural differences are minimal across markets

62. Local responsiveness in global marketing refers to:

• A) Adapting products and marketing strategies to meet local tastes and preferences
• B) Using the same marketing strategy worldwide
• C) Reducing marketing budgets
• D) Focusing solely on online marketing
  Answer: A) Adapting products and marketing strategies to meet local tastes and preferences

63. Emerging markets are attractive for companies because:

• A) They have high levels of competition
• B) They offer high growth potential and expanding middle classes
• C) They have strict import regulations
• D) They require low investment
  Answer: B) They offer high growth potential and expanding middle classes

64. A global market entry strategy that involves minimal risk and investment is:

• A) Direct investment
• B) Exporting
• C) Franchising
• D) Joint ventures
  Answer: B) Exporting

65. Local content requirements in global markets are:

• A) Regulations requiring a certain percentage of a product to be made locally
• B) Rules for online advertising
• C) Cultural preferences for certain products
• D) Tariffs imposed on imported goods
  Answer: A) Regulations requiring a certain percentage of a product to be made locally

66. Global standardization is most effective when:

• A) Consumer preferences are similar across countries
• B) There are significant differences between markets
• C) Products need to be highly localized
• D) Competitors dominate the market
  Answer: A) Consumer preferences are similar across countries

67. Ethnocentric approach in global marketing refers to:

• A) Focusing on local markets only
• B) Believing that domestic strategies are superior and applying them globally without adaptation
• C) Tailoring products to each market
• D) Using local suppliers exclusively
  Answer: B) Believing that domestic strategies are superior and applying them globally without adaptation

68. Polycentric approach in global marketing involves:

• A) Standardizing products globally
• B) Customizing products and strategies for each country
• C) Ignoring local market needs
• D) Reducing investment in emerging markets
  Answer: B) Customizing products and strategies for each country

69. Geocentric approach in global marketing refers to:

• A) Developing a global perspective that focuses on both global integration and local responsiveness
• B) Ignoring cultural differences
• C) Focusing only on one country
• D) Standardizing products globally without adaptation
  Answer: A) Developing a global perspective that focuses on both global integration and local responsiveness

70. Countertrade in international business can include:

• A) Using currency exchanges only
• B) Barter, compensation deals, and counterpurchase agreements between countries
• C) Selling products only in domestic markets
• D) Reducing tariffs through direct investment
  Answer: B) Barter, compensation deals, and counterpurchase agreements between countries

71. Global segmentation is used to:

• A) Identify common characteristics of customers across different countries
• B) Ignore local market needs
• C) Focus only on product standardization
• D) Focus on competitors’ strategies
  Answer: A) Identify common characteristics of customers across different countries

72. A multi-domestic strategy involves:

• A) Offering the same products in all countries
• B) Customizing products and marketing strategies to each individual country’s needs
• C) Reducing investment in marketing
• D) Ignoring local preferences
  Answer: B) Customizing products and marketing strategies to each individual country’s needs

73. Global positioning refers to:

• A) Developing a uniform brand identity and image in all markets
• B) Using different logos in each market
• C) Focusing solely on local customers
• D) Ignoring competitor actions globally
  Answer: A) Developing a uniform brand identity and image in all markets

74. Tariff escalation refers to:

• A) Increasing tariffs on raw materials
• B) Imposing higher tariffs on finished goods than on raw materials or intermediate products
• C) Reducing tariffs for exports
• D) Standardizing global marketing efforts
  Answer: B) Imposing higher tariffs on finished goods than on raw materials or intermediate products

75. Gray markets arise when:

• A) A product is sold legally, but through unauthorized channels
• B) A company increases its prices
• C) Products are sold in local markets only
• D) Global tariffs are reduced
  Answer: A) A product is sold legally, but through unauthorized channels

76. Parallel importing refers to:

• A) A company importing goods in compliance with local regulations
• B) Unauthorized importation of genuine products into a market without the approval of the trademark owner
• C) Exporting goods without proper documentation
• D) Outsourcing production to foreign markets
  Answer: B) Unauthorized importation of genuine products into a market without the approval of the trademark owner

77. Country of origin effect refers to:

• A) The impact that a product’s country of manufacture has on consumer perceptions of quality
• B) A company focusing only on local markets
• C) Government-imposed tariffs on imported goods
• D) The legal requirements for international trade
  Answer: A) The impact that a product’s country of manufacture has on consumer perceptions of quality

78. Cultural imperatives in global markets refer to:

• A) Customs that must be observed in certain cultures to avoid offending local buyers
• B) Optional marketing strategies
• C) Financial incentives for global expansion
• D) Standardized global pricing policies
  Answer: A) Customs that must be observed in certain cultures to avoid offending local buyers

79. Global marketing ethics focus on:

• A) Maximizing profits regardless of consequences
• B) Ensuring that marketing practices are fair, truthful, and culturally sensitive in all countries
• C) Ignoring local regulations
• D) Reducing product quality to lower costs
  Answer: B) Ensuring that marketing practices are fair, truthful, and culturally sensitive in all countries

80. Customs unions in global trade refer to:

• A) Agreements between countries to reduce or eliminate tariffs on traded goods within the group
• B) Competing countries raising tariffs
• C) Standardizing marketing efforts
• D) Importing goods only
  Answer: A) Agreements between countries to reduce or eliminate tariffs on traded goods within the group

81. Economic unions go beyond customs unions by:

• A) Raising tariffs on imported goods
• B) Allowing for the free movement of goods, services, capital, and labor across member countries
• C) Reducing investment in global markets
• D) Ignoring local regulations
  Answer: B) Allowing for the free movement of goods, services, capital, and labor across member countries

 

82. Exporting is often the first global market entry strategy because:

• A) It requires the least investment and risk
• B) It involves complex international regulations
• C) It offers the highest profit margins
• D) It requires substantial financial resources
  Answer: A) It requires the least investment and risk

83. Product adaptation in global markets is necessary when:

• A) Customers in different countries have identical preferences
• B) Local market conditions, such as cultural differences and legal requirements, demand changes in product design or features
• C) Exporting goods without modifications is profitable
• D) International competitors offer similar products
  Answer: B) Local market conditions, such as cultural differences and legal requirements, demand changes in product design or features

84. Market drivers for global expansion include:

• A) Customer preferences remaining constant across countries
• B) Global consumers’ demand for consistent quality, performance, and value from global brands
• C) Reducing operational costs in the home market
• D) Increasing tariffs in the domestic market
  Answer: B) Global consumers’ demand for consistent quality, performance, and value from global brands

85. Political and legal forces in global marketing include:

• A) Currency fluctuations
• B) Government regulations, trade agreements, and intellectual property laws
• C) Consumer buying behavior
• D) Local market pricing
  Answer: B) Government regulations, trade agreements, and intellectual property laws

86. Global distribution strategies focus on:

• A) Increasing product development costs
• B) Ensuring efficient, reliable delivery of products to global markets through partnerships with local distributors
• C) Reducing tariffs on imports
• D) Developing new product lines for local markets
  Answer: B) Ensuring efficient, reliable delivery of products to global markets through partnerships with local distributors

87. Economic factors that influence global marketing decisions include:

• A) Local laws and customs
• B) Exchange rates, inflation, and economic growth rates
• C) Product design
• D) Market segmentation strategies
  Answer: B) Exchange rates, inflation, and economic growth rates

88. Currency fluctuations in global markets affect:

• A) Domestic pricing strategies only
• B) The profitability of international transactions by altering the cost of exporting and importing
• C) Only the local market
• D) Product distribution channels
  Answer: B) The profitability of international transactions by altering the cost of exporting and importing

89. Emerging market strategies often include:

• A) Developing products exclusively for domestic markets
• B) Creating products that meet the needs of the rapidly growing middle class and adapting to local market conditions
• C) Ignoring local preferences and focusing on standardization
• D) Focusing only on luxury products
  Answer: B) Creating products that meet the needs of the rapidly growing middle class and adapting to local market conditions

90. Sustainability in global marketing refers to:

• A) Ignoring environmental and social issues
• B) Focusing on long-term environmental and social responsibility while balancing profitability in global markets
• C) Increasing product prices globally
• D) Reducing marketing budgets
  Answer: B) Focusing on long-term environmental and social responsibility while balancing profitability in global markets

91. Global pricing strategies must consider:

• A) Standardizing prices across all markets
• B) Local costs, taxes, tariffs, and the competitive environment in each market
• C) Ignoring exchange rates
• D) Increasing domestic competition
  Answer: B) Local costs, taxes, tariffs, and the competitive environment in each market

92. Transfer pricing refers to:

• A) Selling products domestically only
• B) Setting prices for goods and services sold between subsidiaries within the same company, often in different countries
• C) Reducing marketing budgets
• D) Focusing on domestic markets
  Answer: B) Setting prices for goods and services sold between subsidiaries within the same company, often in different countries

93. Cross-cultural training for global marketing teams is important because:

• A) It reduces product development costs
• B) It helps marketers understand and respect cultural differences, leading to more effective marketing campaigns
• C) It increases domestic sales
• D) It focuses only on legal compliance
  Answer: B) It helps marketers understand and respect cultural differences, leading to more effective marketing campaigns

94. Product localization in global markets involves:

• A) Keeping product features the same across all countries
• B) Modifying products to meet local tastes, cultural preferences, and regulatory requirements
• C) Reducing marketing budgets
• D) Standardizing global advertising
  Answer: B) Modifying products to meet local tastes, cultural preferences, and regulatory requirements

95. Global supply chain management focuses on:

• A) Reducing product variety
• B) Coordinating production, logistics, and distribution across different countries to ensure timely delivery and cost efficiency
• C) Focusing only on local suppliers
• D) Increasing tariffs
  Answer: B) Coordinating production, logistics, and distribution across different countries to ensure timely delivery and cost efficiency

96. Global marketing research is essential for:

• A) Reducing marketing costs
• B) Understanding local market conditions, customer preferences, and competitive landscapes to make informed global expansion decisions
• C) Increasing domestic market share
• D) Conducting only financial analysis
  Answer: B) Understanding local market conditions, customer preferences, and competitive landscapes to make informed global expansion decisions

97. Ethical considerations in global marketing include:

• A) Ignoring local regulations
• B) Ensuring that marketing practices respect local cultures, laws, and environmental concerns
• C) Reducing marketing budgets
• D) Standardizing product prices globally
  Answer: B) Ensuring that marketing practices respect local cultures, laws, and environmental concerns

98. Global market segmentation refers to:

• A) Ignoring cultural differences
• B) Dividing the global market into distinct segments based on shared characteristics like demographics, geography, and behavior
• C) Reducing investment in marketing
• D) Focusing solely on product development
  Answer: B) Dividing the global market into distinct segments based on shared characteristics like demographics, geography, and behavior

99. Global advertising campaigns should:

• A) Ignore cultural differences
• B) Strike a balance between global standardization and local adaptation to ensure relevance in different markets
• C) Focus only on one product
• D) Reduce costs by eliminating local content
  Answer: B) Strike a balance between global standardization and local adaptation to ensure relevance in different markets

100. Globalization in marketing means:

• A) Ignoring domestic markets
• B) Expanding a company’s operations and marketing efforts across international borders while balancing global efficiency and local responsiveness
• C) Reducing product variety
• D) Focusing solely on local markets
  Answer: B) Expanding a company’s operations and marketing efforts across international borders while balancing global efficiency and local responsiveness