1、Chapter 1 Multiple choices 1. d 2. d 3. d 4. a 5. c 6. c 7. b 8. d 9. e 10. d 11. b True or false 1. True 2. True 3. False 4. False 5. False 6. True 7. True Discussion 1 China successfully participating in the WTO offers both challenges and opportunities to Chinese companies. China officially joined
2、 the WTO on 10th November 2001. WTO is one of the most influential international governmental bodies to affect marketing. WTO and the World Court are set up to help to solve international trade disputes, and they also help the member countries to gain fair treatment in international trades. Since Ch
3、ina is a member country of the organization, China can also enjoy low trade tariffs and seek equal treatment among association members, which would, of course, give companies more chances to expand their international markets. 2 international marketing is more complex than domestic marketing in a nu
4、mber of ways. 1. Different environments, 2. Different applications of marketing principles, concepts and techniques 3. Different relations between enterprises and government. 3 Contact: The seeking out of prospective consumers and it may be based on a variety of determinants. Improper handling of th
5、e initial contact can keep a company out of the marketplace indefinitely. Merchandising: Merchandising is the process of bringing the right product to the right place at the right time in the right quantity at the right place. Pricing: The price of a product is often the determining factor when a pu
6、rchase is made and is always a key to profit. Promotion: Promotion is used to support marketing efforts: paid advertising, personal selling, public relations, and supplemental efforts. Distribution: The process of putting the consumer and the product together. Human resources :Internal marketing tha
7、t occurs within a company between employers and employees is a reflection in the ability to market externally to the public. Its essential that sellers understand, communicate with, and value buyers. 4. There are many reasons for that, environment, Competition, legal restraints, government controls,
8、 weather, fickle consumers, and any number of other uncontrollable elements can, and frequently do, affect Chapter 2 Multiple choices 1. c 2. a 3. a 4. d 5. a 6. b 7. c 8. c 9. d 10. c True or false 1. False 2. True 3. True 4. True 5. True 6. True 7. True 8. True 9. True 10. False Discussion 1. 1) A
9、 has an absolute advantage in producing both wheat and cars. The resources required producing 1 unit of wheat in A and B are 1/80 and 1/40 respectively. The resources required producing 1 car in A and B are 1/10 and 1/8 respectively. 2) Since A has a comparative advantage in producing wheat and comp
10、arative disadvantage in producing cars, it is expected to export wheat and import cars. 3) Under autarky, A would produce 4000 units of wheat and 500 cars while B would produce 2000 units of wheat and 400 cars. World production of wheat and cars would then be 6000 units of wheat and 900 cars. Suppos
11、e the two countries trade and specialized in production so that A devotes 80 units of resources to produce wheat and 20 units of resources to produce cars. At the same time, B devotes all its resources to produce cars. The production pattern is summarized in Table 1 below. Table 1: Production Patter
12、ns Before and After Trade A B TOTAL BEFORE Wheat 4,000 2,000 6,000 Cars 500 400 900 AFTER Wheat 6,400 0 6,400 Cars 200 800 1,000 If A agrees to export 2200 units of wheat and in return B agrees to export 350 cars, the resulting consumption patterns in the two countries is represented in Table 2 belo
13、w. A B TOTAL BEFORE Wheat 4,000 2,000 6,000 Cars 500 400 900 AFTER Wheat 4,200 2,200 6,400 Cars 550 450 1,000 As may be seen, with specialization and trade both countries can consume more of both products and hence be better off. Chapter 3 Multiple choices 1. c 2. a 3. c 4. e 5. a 6. b 7. d 8. a 9.
14、b 10. b True or false 1. False 2. True 3. False 4. True 5. True 6. True 7. True 8. True 9. True 10. True Discussion Review Question Answers The Global economy has experienced the following changes a) Capital movements rather than trade have become the driving force of the global economy. b) producti
15、on has become “uncoupled“ from employment. c) primary products have become uncoupled from the industrial economy. d) The world economy is in control. Reasons a) World trade is some US$ 3 trillion, whereas the London Eurodollar market - alone is some US$ 75 billion per annum and foreign exchange tran
16、sactions were US$35 billion per annum. Interest and exchange rate - gains are often more lucrative than investment in goods and services manufacturing. b) Employment is in decline while manufacturing either grows or remains static. Sectors are becoming more productive, with injections of capital equ
17、ipment and new technologies. c) Commodity prices may collapse but industrial economies can be unaffected. d) World trade is recognized as vital to economies as domestic growth slows down and opportunities overseas grow. Growth achievable in international trade is often at a greater rate than domesti
18、cally and the returns higher. Chapter 4 Multiple choices 1. a 2. d 3. d 4. b 5. d 6. a 7. a 8. c 9. b 10. c True or false 1. True 2. False 3. False 4. False 5. True 6. False 7. False 8. True 9. True 10. True DISCUSSION Review Questions Answers 1. Important to have a regulatory framework for the foll
19、owing reasons. a) Framework states the political, social and legal ground rules for doing business between and within countries. b) The framework gives: i) the basis for all production, exchange and distribution activities ii) gives rise to expectations and assurances about the actions of others and
20、 iii) gives order and stability to the means of doing business. The most important rules are these: a) Defining, allocating and enforcing property rights. b) Establishing rules and conventions defining allowable and non allowable forms of cooperation and coordination (standards, rules of conduct, fa
21、ir trading etc). 2. Tariff barriers/duties (terms of access) a) Tariffs - single column, two column, preferential. b) Duties - ad valorem, specific, alternative, compound, anti-dumping. c) Import charges - variable, temporary, compensatory. Non tariff barriers a) Quota and trade controls. b) Discrim
22、inatory Government and private procurement policies. c) Restrictive customs procedures. d) Selective monetary control and discriminatory exchange rate policies. e) Restrictive administrative and technical regulations. Chapter 5 Multiple choices 1. c 2. e 3. b 4. d 5. d 6. d 7. b 8. e 9. c 10. c True
23、 or false 1. False 2. False 3. False 4. True 5. False 6. True 7. True 8. True 9. False 10. False DISCUSSION Review Question Answers 1. Main elements of culture - “Definition of culture“ - The integrated total sum of learned behavioral traits that are manifest and shared by members of society. Elemen
24、ts are - language, social norms, religion, ethics, socio economics, mores, traditions, societal regulations, nationalism, aesthetics, material culture, attitudes, values, social organisation. (Discuss each in turn with students). 2. Main approaches to culture a) Anthropological - relevance to interp
25、retation of ways of doing business e.g. Japan versus USA. b) Maslows hierarchy of needs - relevance to product type, sophistication and price c) Self reference criterion - relevance in the standardisation versus adoption concepts of marketing strategy. d) Diffusion theory - relevance to rates of ado
26、ption of innovations and of new products. e) High and low context - relevance to the degree of necessity to have explicitly verbal or written communications e.g. contracts. f) Perception - relevance to sensitivity in operation of the marketing mix variables e.g. advertising Chapter 6 Multiple choice
27、s 1. a 2. d 3. a 4. c 5. c 6. e 7. c 8. c 9. c 10. e True or false 1. False 2. True 3. True 4. True 5. True 6. False 7. False 8. True 9. False 10. True DISCUSSION Review Question Answers 1. Answer: Primary data is data collected through observation, survey or controlled experiment for the first time
28、 during a marketing research study. Marketers rely on primary data when up-to-date, specifically targeted information is essential; when they have sufficient time to conduct the analysis; and when the good or service plays a major role in the companys total marketing strategy to warrant the expense
29、of data collection. Secondary data refers to previously collected data from internal and external sources. Internal data include sales records, product performance, sales force activities and marketing costs. External data are obtained from local, provincial (state) and federal governments and priva
30、te sources. The reasons for using secondary data include the relative low cost, the easy availability and the limited time taken by searching for it. 2. Answer: A marketing information system (MIS) is a planned, computer-based system designed to provide managers with a continuous flow of information
31、 relevant to their specific decision areas. An MIS permits a continuous, systematic study of any deviation from marketing goals, and allows management to adjust actions as conditions change. A marketing decision-support system (MDSS) consists of computer software that helps users obtain and use info
32、rmation to make marketing decisions. An MDSS is the portion of an MIS that enables marketers to explore the state of the market and do market forecasting and simulations that illustrate what might happen if various components of the marketing strategy were changed. Data mining consists of a program
33、that searches customer information stored in data warehouses for connections. Organizations are using data mining to enhance decisions about customer preferences, sales trends, and marketing programs. Chapter 7 Multiple choices 1. e 2. b 3. a 4. d 5. a 6. a 7. c 8. c 9. e 10. d True or false 1. True
34、 2. False 3. True 4. False 5. False 6. True 7. True 8. True 9. True 10. False DISCUSSION 1. (your answer should include the following requirements and major points of each. Measurable, meaning the size, purchasing power, and profiles of the segments can be measured. Accessible relates to the fact th
35、at, unless you can define and communicate with a segment, it isnt of much value. A segment must also be substantial, or large or profitable enough to be served economically. A segment must be distinguishable from other segments, or differentiable. Finally, company resources and skills must be such t
36、hat programs to a segment must be actionable, or capable of being implemented.) 2. Answer: If a market segment is large, but not homogeneous enough, it becomes difficult to develop a marketing mix that would effectively fit all customers in this segment. In this case some customers may become dissat
37、isfied and lured away by competitors who offer a better tailored marketing mix. If market segments are properly defined most customers should be addressed with a marketing mix that can satisfy their needs well. Very well satisfied customers are more loyal. On the other hand breaking markets down int
38、o too many segments and addressing each of them with a separate marketing mix is costly. This is why it is very important to define segments in such a way that they would be large enough to be profitable, and, on the other hand, homogeneous enough to be satisfied with the same marketing mix. Note: o
39、ther answers to the essay questions could be acceptable if they are properly justified. 3. Omitted Chapter 8 Multiple choices 1. c 2. b 3. b 4. d 5. d 6. a 7. c 8. e 9. e 10. d True or false 1. True 2. True 3. False 4. False 5. False 6. False 7. True 8. True 9. True 10. True DISCUSSION Review Questi
40、on Answers 1. Different methods These are either “direct“, “indirect“ or “cooperative “ based. 2. Advantages: sharing of risk and know-how, may be only means of entry, may be source of supply for third country. Direct - Agent, distributor, Government, overseas subsidiary Disadvantages: partners do n
41、ot have full control or management, may be impossible to recover capital, disagreement between purchasers or third party - served markets, partners have different views on exported benefits. Indirect - Trading company, export management company, piggyback, countertrade 1) Export processing zones - D
42、efinition: A zone within a country, exempt from tax and duties, for the processing or reprocessing of goods for export Foreign - Licensing, joint venture, contract manufacture, ownership, export processing zone. Students should give a definition and expand on each of these methods. Advantages: host
43、country obtains know-how, capital, technology, employment opportunities; foreign exchange earnings; “reputation“, “internationalisation“. Disadvantages: short term investments, capital movements, employment movements, transaction costs and benefits, not part of economy so alienisation, labour laws m
44、ay be different, bureaucracy creation. 2) Barter- Definition: Direct exchange of one good for another. (may be straight or closed or clearing account method) Advantages: simple to administer, no currency, commodity based valuation or currency based valuation. Disadvantages: risk of non delivery, poo
45、r quality, technological obsolescence, unfulfilled quantities, risk of commodity price rise thus losing out on an increased valuation, depressed valuation, marketability of products. 3) Countertrade - Definition: Customer agrees to buy goods on condition that the seller buys some of the customers ow
46、n products in return (may be time, method of financing, balance of compensation or pertinence of compensating product based) Advantages: method of obtaining sales by seller and getting a slice of the order, method of breaking into a “closed“ market. Disadvantages: not covered by GATT, so dumping may occur, variety differences, difficult to set price and service quality,
