Mastering International Marketing: Strategies and Challenges
School
Danville Community College**We aren't endorsed by this school
Course
MKT 100
Subject
Marketing
Date
Dec 11, 2024
Pages
3
Uploaded by ProfLemurPerson1170
**Exam Name:** International Marketing: Marketing Strategies and Challenges in Global Markets**Exam Time:** 2 Hours**Total Score:** 100**INSTRUCTIONS:**1. Read each question carefully before answering.2. Clearly mark your answers on the provided answer sheet.3. Show all your work for calculation questions.4. For graphing and chart analysis questions, please draw on the graph paper provided.5. Partial credit may be given for correct approach and process, even if the final answer is incorrect.---**1. Multiple Choice (20 Points)**1.1. Which of the following is NOT a major factor that affects international market selection?(a) Market size and growth potential(b) Cultural and legal environment(c) Marketing capabilities(d) Currency exchange rates**1.2. What is the primary goal of an ethnocentric approach to international marketing?(a) Standardizing the product across all markets(b) Adapting the product to each individual market(c) Segmenting the market based on cultural differences(d) Transferring resources from domestic to foreign markets**1.3. The process of providing products or services in a foreign market at prices similar to those in the domestic market is known as:(a) Market segmentation(b) Product adaptation(c) Standardization(d) Pigeon pricing**1.4. Which of the following is a characteristic of a global brand?(a) It is adapted to each local market(b) It is standardized across all markets(c) It has a different brand name in different markets(d) It is perceived differently in each market
**1.5. The process of adding or subtracting product features to suit the needs and wants of the target market is called:(a) Product extension(b) Product invention(c) Product innovation(d) Product adaptation---**2. Short Answer (30 Points)****2.1. (15 Points)**Explain the significance of political and legal factors in international marketing decision-making. Provide examples of how these factors can affect marketing strategies in global markets.---**2.2. (15 Points)**Discuss the challenges and opportunities of marketing services in a foreign market. Give specific examples of how companies can overcome the challenges and take advantage of the opportunities.---**3. Calculation Questions (50 Points)****3.1. (20 Points)**A company is planning to introduce a new product into a foreign market. The expected demand for the product is 10,000 units at a price of $100. The variable cost per unit is $50, and the fixed cost is $200,000. Calculate the break-even point in units and in revenue.---**3.2. (20 Points)**A company's profit margin is 15%, and its variable cost is $50. It is considering entering a new market where it can expect to sell 5,000 units at a price of $200. To maintain a 15% profit margin, what should be the fixed cost of entering this new market?
---**3.3. (10 Points)**A company has a budget of $1 million for international marketing campaigns. It is considering allocating the budget across three different markets: Europe, Asia, and North America. If the company expects to spend 40% of the budget on Europe, 30% on Asia, and the remaining 30% on North America, calculate the budget allocated to each market.