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FIN 3100 Exam 2 Review Questions with Correct answers Latest Update 2024 Test
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FIN 3100 Exam 2 Review Questions with Correct answers Latest Update 2024 Test
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MKTG 3100 Economics Exam #2 Questionswith Verified Answers Download to Pass
International Global Marketing - Correct Answers Company starts doing business
outside their home country.
MNC (multinational corporation) - Correct Answers If a company goes international
and does successful it will turn into an MNC. Ex. Amazon, McDonald's, Coke
Globalization Market Theory - Correct Answers We should be able to sell the same
item the same way all over the world
Exporting - Correct Answers Sell domestically produced products to buyers in other
countries. - low risk because they aren't changing much but logo
Licensing (franchising) - Correct Answers Legal process allowing use of
manufacturing/patents/knowledge. Ex. Disney selling license to use image on product
Contract manufacturing - Correct Answers Is where a company who is producing
goods domestically starts having goods produced in a different country.
Strategic alliance - Correct Answers A collaborative relationship between independent
firms that do not invest in each other. Ex. Deltas partners: KLM, Air France
Joint Venture - Correct Answers Domestic firm buys/joins a foreign company to create
new entity. Ex. Mercedes & Chrysler
-Based on synergistic theory - the sum is greater than the total of its parts.
-Downfall to joint ventures is one person has to have majority
-Share control of decision making
Direct investment - Correct Answers Active ownership of a foreign
company/manufacturing facility. Ex. Wal-Mart buying grocery store in England
-Brings jobs to economy which people pay taxes, spend money, therefore it benefits
their economy
-Careful on place to invest
Market Research - Correct Answers The legitimate gathering of information so that
market researchers can better help people solve their problems and reach their goals
Market Research Process - Correct Answers 1. Define problem
2. create the research vehicle
3. collect the data
4. analyze data
, 5. prepare/present report
6. develop and implement action plan follow up
Primary Data - Correct Answers information that is collected for the first time; used for
solving the particular problem under investigation
-More current, specific, but is expensive in time and money
Secondary Data - Correct Answers data previously collected for any purpose other
than the one at hand. Ex. Internet, Company websites, Government websites
-Great place to start
Survey ? types - Correct Answers Close ended ?'s - Have definitive answers, no room
for interpretation
Open ended ?'s - Respondent gets to answer in their own words
Semantic differential - Rating scale. Ex. Strongly agree, Somewhat agree, Etc.
Forms of Survey Research - Correct Answers 1. In Home Interviews - most effective
way of research because you can see body language and true/honest answers
2. Mall Intercept Interviews - Typically safe spot, self-selected market, not a random
sample
3. Telephone Interviews - Best bang for buck, most information for time, and more cost
effective
4. Mail Surveys - Either USPS or Email, folks can do it at their leisure
5. Executive Interviews - good but difficult because you have to book appointment
6. Focus Groups - based on premise that ten heads are better than one. Coming
together of group of people to discuss an issue. Ex. HOA
Observational Situations - Correct Answers -People watching people
-Machines watching people
-Machines watching phenomena
People watching people - Correct Answers Making sure people do what they are
supposed to do
Machines watching people - Correct Answers Ex. Cameras recording behavior
Machines watching phenomena - Correct Answers Ex. Georgia peach pass,
monitoring traffic flow
Analyze data - Correct Answers Trends, patterns, commonalities are what they are
looking for
Prepare/present report - Correct Answers What you asked us to do, what we did, why
we did it, how we did it, what we found, what we think you should do with what we found
- Recommendation
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