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    Most portfolio managers, when asked why they do not internationally diversify their portfolios, answer that "the risks are not worth the expected returns." Using the theory of international diversification, would you agree with this statement

    51. After developing a mission statement, a firm or organization next must perform:
    A. relative market share division.
    B. a situational analysis.
    C. a market penetration strategy analysis.
    D. a mission-accomplished ceremony.
    E. cost-cutting surgery.
    52. As part of her company's SWOT analysis, Valerie is assessing the company's internal
    environment, including:
    A. strengths.
    B. opportunities.
    C. strengths and weaknesses.
    D. threats.
    E. opportunities and threats.
    53. Samantha is charged with assessing her company's external environment as part of a
    SWOT analysis. Samantha will study her company's:
    A. strengths.
    B. opportunities.
    C. strengths and weaknesses.
    D. threats.
    E. opportunities and threats.
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    54. Several years ago, the factory of the brake assembly supplier for Toyota burned, leaving
    Toyota with just a 24-hour supply of parts. The use of single-sources of supply is often a
    potential _________________ for a company.
    A. weakness
    B. opportunity
    C. situational selling problem
    D. threat
    E. strategic business promotion efficiency
    55. For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements
    with other countries create:
    A. weaknesses
    B. opportunities
    C. situational buying problems.
    D. threats.
    E. strategic business production efficiencies
    56. In 2006, Ford Motor Company announced it would severely cut back automobile
    production. For parts companies supplying Ford Motor this represented a:
    A. weakness
    B. opportunity
    C. situational selling problem
    D. threat
    E. strategic business promotion efficiency
    57. When identifying and evaluating opportunities, STP refers to:
    A. simplification, teaching, and professing.
    B. strategic, target, and preferences.
    C. segmentation, targeting, and positioning.
    D. situation, teamwork, and planning.
    E. sustainable, temporary, and positions.
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    58. Lionel is asked to conduct an STP analysis for his firm. The first thing he will do is:
    A. generate a sum of segments.
    B. target potential targets.
    C. reposition existing segments.
    D. divide the marketplace into subgroups.
    E. conduct a SWOT analysis.
    59. Recently, Wal-Mart announced it would begin selling organic food products. In doing so,
    Wal-Mart is probably trying to:
    A. gain government approval
    B. attract a different market segment.
    C. reduce lost sales to health food stores.
    D. save the environment.
    E. offset cost-based pricing pressure.
    60. Martha is opening an upscale day spa. She would like to identify groups of potential highincome
    customers in her area but knows income data is often difficult to access. Instead, she
    might consider using:
    A. educational achievement at area schools.
    B. real estate values in various neighborhoods.
    C. national census income data.
    D. location of banks in her area.
    E. shopping mall statistics.
    61. For years, when considering new products, marketers at Celestial Seasonings would ask,
    "What will Stacy think?" Stacy represented 25-50 year old, educated, upper-income,
    infrequent television-watching, and heavy-reading women. Stacy was Celestial's major:
    A. target position.
    B. product supporter.
    C. SBU.
    D. market segment.
    E. sustainable competitive advantage.
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    62. Many of today's college graduates will make their livings providing goods and services to
    "baby boomers," the large group of Americans born in the period after World War II. Baby
    boomers are a _________________ market segment.
    A. psychological
    B. behavioral
    C. social
    D. product excellence
    E. demographic
    63. After identifying various market segments that her company could pursue, Lisa evaluated
    each segment's attractiveness based on size, income, and accessibility. Lisa was involved in:
    A. target marketing.
    B. situation analysis.
    C. diversification.
    D. operational excellence calculations.
    E. market penetration estimation.
    64. Dove was able to connect with important parts of their customer base by:
    A. creating high impact events at a lower cost by using Internet approaches.
    B. expanding beyond traditional constraints of advertising
    C. connecting directly with customers via the internet.
    D. All of the above
    E. None of the above
    65. Michael Jordan, Tiger Woods, Michele Wie and other athletes are paid huge sums of
    money by companies for celebrity endorsements. If, endorsements by these athletes create
    distinct images among consumers of the companies' products, they can help with the firm's
    ________________ strategy.
    A. cost-based promotion
    B. vendor segmentation
    C. positioning
    D. sustainable competitive advantage
    E. customer excellence strategy
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    66. _______________ involves the process of defining the marketing mix variables so that
    target customers have a clear, distinctive understanding of what a product does or represents
    in comparison with competing products.
    A. Cost-based promotion
    B. Market segmentation
    C. Sustainable competitive advantage
    D. Positioning
    E. Customer excellence strategy
    67. In a classic television advertisement, the Maytag repairman sat in an office bored, with
    nothing to do, implying Maytag products were so dependable, they never needed repairs. This
    ad was a significant part of the company's:
    A. cost-based promotion.
    B. market segmentation.
    C. sustainable competitive share.
    D. customer excellence strategy.
    E. positioning.
    68. Imagine, you are in a gourmet food store choosing your favorite "comfort" food instead of
    being in a classroom taking this test. Notice the packaging, colors, labels, even the fonts used
    on labels. All of these efforts are part of marketers':
    A. cost-based promotion.
    B. market segmentation.
    C. positioning.
    D. customer excellence strategy.
    E. targeting.
    69. When positioning products relative to competitors' offerings, firms typically are most
    successful when they focus on opportunities:
    A. that build on their strengths relative to those of their competitors.
    B. for diversification.
    C. in international markets.
    D. where value-based pricing can be ignored.
    E. where customer excellence can be substituted with product excellence.
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    70. Many small businesses whose competitors are national franchises advertise "we are
    locally owned" or "we have been here since 1951." This is part of these firms'____________
    A. cost-based promotion
    B. market segmentation
    C. positioning
    D. customer excellence strategy
    E. targeting
    71. After performing an STP analysis, marketers implement ________________ for each
    target market.
    A. pricing strategies
    B. promotion strategies
    C. place strategies
    D. product strategies
    E. all of the above
    72. Marketing mix strategies will vary depending on what marketers believe their target
    A. will value.
    B. can afford.
    C. can sustain.
    D. can be manipulated into buying.
    E. position.
    73. At least one university allows recent graduates, who find they need additional education,
    to come back and take additional courses free. By offering additional educational services, the
    university is attempting to enhance their _____________ in the process of creating value for
    their customers.
    A. penetration pricing
    B. place strategy
    C. pricing strategy
    D. diversification
    E. product
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    74. In 2007, when Apple Computer Company introduced its new iPhone, the company hoped
    combining cellular telephone, Internet, and iPod technologies would:
    A. create product value.
    B. create pricing value.
    C. expand global positioning.
    D. lower supply chain management costs.
    E. reduce regulatory oversight.
    75. The idea of value-based marketing requires firms to charge a price that:
    A. covers costs and generates a modest profit.
    B. includes the value of the effort the firm put into the product or service.
    C. captures the value customers perceive they are receiving.
    D. offers customer excellence above operational excellence.
    E. positions the company during the control phase of the marketing plan.
    76. Most university bookstores take the price they paid for textbooks and add a standard
    markup, usually 25-35 percent. These university bookstores are using a _____________
    pricing strategy.
    A. value-based
    B. cost-based
    C. competitor-based
    D. customer-based
    E. product-based
    77. Marvin, owner of Marvin's Marine Service, used to work for the major boat company in
    town. When he started his own business, Marvin charged an hourly rate slightly less than the
    boat company. Marvin was using a __________ pricing strategy.
    A. value-based
    B. cost-based
    C. competitor-based
    D. customer-based
    E. product-based
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    78. Years ago, when Kodak began selling film in Japan, the company priced their film slightly
    lower than Fuji film. Sales were dismal. Market research indicated Japanese consumers
    perceived the lower-priced Kodak film as being inferior. Kodak was using ____________
    pricing strategy, while Japanese consumers were thinking in terms of __________ pricing.
    A. cost-based; value-based
    B. value-based; competitor-based
    C. competitor-based; cost-based
    D. competitor-based; value-based
    E. value-based; cost-based
    79. Movie theaters typically charge adult prices for anyone age 12 or over, while giving
    discounts to senior citizens. Theater owners are probably using a ____________ pricing
    A. value-based
    B. cost-based
    C. competitor-based
    D. management-based
    E. product-based
    80. One of the reasons marketers frequently use cost-based or competitor-based pricing
    strategies is because they are:
    A. easier for customers to understand.
    B. simple to implement.
    C. the best for profit maximization.
    D. better than sustainable competitive advantage pricing.
    E. operationally-based rather than product-based.
    81. In ________________ pricing, the firm first determines the perceived worth of the
    product from the customer's point of view and then prices accordingly.
    A. product-based
    B. cost-based
    C. competitor-based
    D. management-based
    E. value-based
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    82. One clothing manufacturer, with factories both in the U.S. and Mexico, recognized many
    Mexican consumers prefer American-made products. The company then produced higher-cost
    jeans in the U.S. so they could sell them at a premium in Mexico with a Made in USA label.
    This firm was pursuing a ______________ pricing strategy.
    A. promotion-based
    B. cost-based
    C. competitor-based
    D. value-based
    E. management-based
    83. Passengers on international air flights are often shocked to learn the variation in prices
    each passenger paid for the same ticket. The passengers are learning about ___________
    A. competitor-based
    B. cost-based
    C. value-based
    D. management-based
    E. product-based
    84. The difficulty in implementing value-based pricing is:
    A. it is too simple and can easily be replicated by competitors.
    B. it is sometimes hard to determine perceived value among customers.
    C. the time it takes to estimate the cost of products.
    D. government regulations may prevent such strategies.
    E. consumers do not know what they value.
    85. Value-based pricing is one of the least understood areas of business decision-making,
    even though it is one of the few business activities with a direct impact on:
    A. promotion.
    B. distribution.
    C. profits.
    D. product assortment.
    E. relative market mission
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    86. Value creation through place decisions involves:
    A. putting the product prominent place.
    B. creative displays to capture consumers' attention.
    C. pricing products with place in mind.
    D. making the good or service available when and where the customer wants it.
    E. all of the above
    87. E-books, in addition to being an alternative product form, provide __________ value
    creation through access via the Internet.
    A. product
    B. place
    C. promotion
    D. price
    E. all of the above
    88. In recent years, cellular phone companies have worked hard to eliminate "dead zones,"
    providing customers with service wherever they traveled. The cellular companies were
    focusing on __________ value creation.
    A. product
    B. price
    C. promotion
    D. place
    E. all of the above
    89. In value-based marketing, promotion communicates the:
    A. targeted creative solution.
    B. operational excellence.
    C. value proposition
    D. relative market value.
    E. sustainable comparative situation
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    90. Metrics are used in marketing to:
    A. convert statistics into a decimal-based reporting format for easier understanding outside of
    the U.S.
    B. capture consumer perception and behavior in quantitative terms.
    C. determine marketing department incentive bonuses based on the success of marketing
    D. convert quantitative data into qualitative reports
    E. All of the above.
    91. In recent years, Internet marketers began paying for placement at the top of search engine
    key word results. These marketers are attempting to maximize ________ value creation.
    A. product
    B. price
    C. promotion
    D. place
    E. all of the above
    92. In order to create effective value communication to target markets, marketers must first:
    A. consider the cost of alternative media.
    B. use the Internet.
    C. redesign products to meet media outlet specifications.
    D. understand their customers.
    E. all of the above.
    93. When choosing marketing communication methods, the most effective and efficient
    option depends on:
    A. the customers
    B. the value created.
    C. the message.
    D. all of the above
    E. none of the above
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    94. When firms successfully implement poor strategies or poorly implement good strategies,
    it can make it difficult to:
    A. generate cost-based pricing performance ratios.
    B. evaluate performance and make adjustments.
    C. increase product excellence while reducing customer excellence.
    D. engage in strategic phasing analysis.
    E. offer assistance to needy organizations.
    95. Craig sees his company's quarterly sales and profits are significantly above projections
    and says, "That's great. Let's keep doing what we are doing." Craig is suggesting they ignore
    the ____________ of the marketing planning process.
    A. evaluate performance
    B. define the business mission.
    C. situation analysis
    D. implement marketing mix and resources.
    E. identifying and evaluating opportunities.
    96. The first objective in the evaluate performance phase of the marketing planning process is
    to assess:
    A. determine whether to raise or lower prices.
    B. adjust advertising allocations.
    C. find ways to cut costs.
    D. why the performance goals were or were not achieved.
    E. determine who should be promoted or terminated.
    97. Kathy reviews her division's quarterly results and sees some units exceeded goals while
    others did not. Next, she will attempt to determine why the performances varied and whether
    the variation:
    A. created a net benefit or loss.
    B. should be reported to senior executives or not.
    C. consistent with the company's mission statement.
    D. offers opportunities for diversification.
    E. was due to factors within or outside the firm's control.
    Chapter 02 - Developing Marketing Strategies and a Marketing Plan
    98. Brad is reviewing the performance of his franchise sandwich store. Being a franchise he
    has access to comparative data from other stores. Brad will likely look at ____________ data
    for his other stores.
    A. sales
    B. gross margin
    C. number of customers
    D. coupon redemption
    E. all of above
    99. Understanding the causes of performance, regardless of whether that performance
    exceeded, met, or fell below the firm's goals:
    A. enables firms to make appropriate adjustments.
    B. allows managers to promote their effectiveness.
    C. offers insights into cost-based pricing value.
    D. provides market researchers with insights into SBU superiority.
    E. allows firms to better assess customer performance.
    100. Laura is reviewing sales data after a recent in store promotion of her company's diet
    products. The data show success in some stores and limited response in others. Laura will
    probably next review the company's:
    A. profitability reports.
    B. brand awareness study.
    C. implementation program to see if the promotion was handled consistently in the different
    D. sales analysis in other territories.
    E. analysis of national diet trends.

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    I would not agree with that, one of the difficulties to invest internationally is because we probably will have limited information, but if an investor just stick with put all his eggs in one basket, ...