Semester 1 2015 Exam.pdf

Semester 1 2015 Exam.pdf - Group No Lecturer RMIT Student...

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Unformatted text preview: Group No. Lecturer: . RMIT Student Name UNIVERSITY Student ID VIETNAM Signature DiplomalBacheior Circle One EXAM COVER SHEET _ Course Code: MKTG1259 Global Marketing 2610512015 Exam Start time: 14:00 Exam Duration: 2 hours 15mins Course Description: Exam Date: Total number of pages (incl. this cover sheet) 9 pages ALLOWABLE MATERIALS AND INSTRUCTIONS TO CANDIDATES Students must not write, mark in any way any exam materials, read any other text other than ' the exam paper or do any calculations during reading time . This is a CLOSE BOOK EXAM Commence each question on a new page. Carry out the instructions on the front cover of this paper . Calculators — NOT ALLOWED Clean paper bilingual dictionaries are allowed. They may be checked by the exam supervisor 5‘ for any marks. 6 This exam contains — two sections. Attempt ALL questions in each section and ALL parts of ' questions 7 This exam paper adds to 40 marks and comprises 40% of the total marks allocated in this ' course. No mobile phones are permitted in the exam room. You are in breach of the exam rules if you have a mobile with you during your exam. . NOTE: This exam paper CANNOT be RETAINED by the student MKT61259, Final Examination (Vietnam). Semester 1, 2015 Page 1 of 9 Section A: Multiple Choice Questions (20 x 70.5 mark = 10 marks) Attempt EVERY QUESTION and seiect the BEST answer. For each question, circle the answer on the answer sheet at the end of this paper. if you choose more than one answer for a question it will be marked as incorrect. QUESTION 1 The big emerging markets (BEMs) are (a) North America, western Europe and Japan, which collectively produced 80 per cent of the world's GDP for much of the twentieth century. (b) Emerging economies expected to be the next major markets; they include the Chinese Economic Area (CEA), India, South Korea, Mexico, Brazil, Argentina, South Africa. Poland, Turkey and the Association of South-East Asian Nations (ASEAN). (c) The process of exporting and importing goods between a nation and other countries in the world. (d) A combination of internationai trade and foreign production of goods for sale, either by manufacturing products overseas for sate there or by contracting manufacturing out to an organisation in a foreign country. QUESTION 2 International (country-by-couhtry) marketing is (a) an approach to marketing in which organisations focus on the domestic market and domestic competition only. (b) marketing approach in which organisations sell their good or service directly or indirectly to overseas buyers. (0) marketing characterised by overseas expansion focusing on a polycentric orientation, whereby marketing functions are adapted to foreign market demands. (d) a marketing approach in which foreign subsidiaries operate independently of one another without any measurable headquarters control. QUESTION 3 Comparative advantage theory is (a) a marketing approach In which the organisation realises economies of scaie by standardising operations on a regional basis. (b) a marketing approachlin which an organisation strives for efficiencies of scale by developing a standardised marketing mix across national, regional and global markets. (c) a theory that states that a country can gain from engaging in trade even if it has an absolute advantage or disadvantage. (d) the situation in which one region can produce goods with lower unit labour requirements than any other and so is only able to export those goods. MKTGiZSQ, Final Examination (Vietnam). Semester 1, 2015 Page 2 of 9 QUESTION 4 Foreign direct investment (FDi) is (a) An investment in manufacturing and service facilities in a foreign country with an intention to engage actively in managing and controlling them. (b) Purchases of foreign shares, bonds or other securities, in which investors have no controlling interest in the typically short-term investment. (c) An international organisation that deals with the rules of trade and also oversees the flows of trade between nations, with the aim of iiberalising and expanding trade under agreed and enforceable rules for reciprocal benefit. ‘ (d) An agreement between two or more countries to reduce or remove tariffs and non-tariff barriers among member countries. QUESTION 5 Which round of WTO placed the need and interests of developing countries at the heart of its work? (a) Uruguay Round. (b) Doha Round. (0) Asian Round. (d) None of above. QUESTION 6 Common market is (a) A free trade area in which members have implemented common external tariffs. (b) A market that has no tariffs or other barriers to trade nor any restrictions on the flow of capital and labour among members and has common set of external tariffs on non-members. (c) A market with a single common currency among politically independent countries. (d) Records a country's entire economic transactions with the rest of the world over a year. QUESTION 7 What is a non~tariff barrier? (at) A direct tax on imports. (b) The narrow definition of trade restrictions. (c) The restriction against all trade with a nation for political purposes. (d) A variety of less visibie, often disguised entry barriers and procedural rules for imports and standards set upon import quality that have the effect of limiting imports or making importing more difficult QUESTION 8 Despite the wide variety of definitions, there are some common elements; except (a) Culture is learned by people . (b) Culture is biologically transmitted via the genes (c) Culture consists of many different interrelated parts (d) Cuiture is shared by individuals as members of society MKTGtZSQ, Final Examination (Vietnam), Semester 1, 2015 Page 3 of 9 QUESTION 9 Back translation is (a) A procedure in which a document is first translated from one language to another, then translated back into the original language (b) The family unit comprising the immediate family members only; that is, parents and their children -- (c) The family unit comprising members outside the immediate family; for example, grandparents, aunts, uncles and cousins (d) The sets of people to whom an individual looks for guidance in values and attitudes QUESTION 10 High—context is (a) Guiding principles in life, which are intrinsic to a person's identity and inner self (b) A culture that communicates primarily through implicit messages; nonverbal messages are considered very important (0) A culture that communicates primarily through explicit messages that are coded in specific terms to be understood; verbal aspects and clarity are very important (d) None of the above. QUESTION 11 Globalisation is a process in which consumers, organisations and governments are increasingly interconnected across national borders by a variety of factors. Those factors include the following options, except (a) Multinational organisations (b) Regulatory agencies (c) Schools (0!) Multinational advertising agencies QUESTION 12 Which one of the following is false? (a) Self-reference criterion (SRC) is people's habit of falling back on their own cultural norms and 'values. (b) [n a multi-country research process, the SRC also makes finding a consensus between headquarters and local staff an immensely formidable task. (0) To avoid mishaps, marketing researchers must try to view the research problem from the cultural perspective of the foreign players and isolate the SRC's influence. (d) None of the above. QUESTION 13 , management needs to develop a to embrace Once the organisation has selected the the chosen segments. (a) Positioning strategy, target segments (b) Target segments, positioning strategy (0) Marketing mix, entry strategy (d) Entry strategy, marketing mix MKTG‘1259, Final Examination (Vietnam), Semester 1, 2015 Page 4 of 9 QUESTION 14 Product adaptation - communications extension refers to (a) An organisation chooses to adapt the product but market it using a standardised communications strategy (b) An organisation chooses to market the same product but uses customised advertising campaigns in foreign and home markets. (0) An organisation chooses to market a standardised product using a uniform communications strategy. (d) An organisation choOses to adapt its product and communication strategy across countries it operates. QUESTION 15 Which intemationai advertising budget method is the most widely used method because of its simplicity? (a) Percentage of sales (b) Competitive parity (0) Objective-and-task (d) All of the above QUESTION 16 Value chain is (a) The mix of skills and resources that an organisation possesses that enable it to produce one set of (b) The coordination of sourcing requirements across an organisation's worldwide business units. (0) Buying outside an organisation‘s country of manufacture in a way that does not coordinate requirements across its worldwide business units. (d) A set of value-adding activities that link an organisation's supply side with its demand side. QUESTION 17 Grey market refers to (a) A universally recognised set of definitions of international terms of trade, most commonly used in international contracts. (b) A promise for payment from an importer. (0) Legal export/import transactions involving the importation of genuine products into a country by intermediaries other than the authorised distributors. (d) A sale with no evidence of debt (e.g. promissory note, draft), usuatly done by invoice, in which payment may be unenforceable MKTG1259. Final Examination (Vietnam), Semester 1, 2015 Page 5 of 9 QUESTION 18 The bargaining power of buyers when they have access to substitute products or the same product from several suppliers. ' (a) Decreases (b) increases (0) Satisfy (d) Do notsatisfy QUESTION 19 Geographical distance has become increasingly relevant in designing global marketing strategies. (a) More (b) Less (0) Not (d) None of the above QUESTION 20 Multilateral trade agreements refer to (a) A trade agreement between a number of countries. (b) A single trade agreement covering all countries of the world. (c) A trade agreement between two countries. (d) A draft agreement negotiated between members of the OECD aimed to create a systematic multilateral approach to investment. MKTG1259, Final Examination (Vietnam). Semester 1, 2015 . Page 6 of 9 Section B: Case Study Questions (3 x 10 marks = 30 marks) Breadtalk opened its first retail outlet at Parco Bugis Junction, Singapore, in July 2000. It’s phenomenal success and encouraged the company to open two more retail stores within 5 months and another five the following year. George Quek, the founder, saw the opportunity for starting a bakery selling freshly baked breads and buns which are visually creative and attractive. When one looks at the over 150 varieties of breads, buns, pastries and cakes, each one specifically named with itsown special name, the passion and thought that go into each of the products are evident. Breadtalk’s continuous development of products to reflect contemporary lifestyles and consumer needs in each market is what distinguishes it from traditional bakeries in the market. Breadtalk outlets, like the one featured above, focus on urban design and architecture, clear glass panels, steel and chrome counters, brightly lit interiors and neat display shelves filled with artisan breads, cakes, pastries and buns. Customers have a clear view of the bakery items on display and its see through kitchens allow customers and shoppers to view staff at work. Staff in smart-looking uniforms serve and attend customers in a prompt and courteous manner while bakers, dressed in white chef uniforms, busily transform dough into tasty treats. Before Breadtalk, there was no such thing as a bread shopping experience, with bread typically bought at the local shop by picking one of the usual varieties and heading home. Bread was also nOt considered as a gift in Asia until Breadtalk revolutionised the culture of bread consumption. With names like Floss, Hot Chick, Mt Fuji, Swirl, Sunflower, Moshi Mushroom and Naan, customers are treated to a totally new, multi-sensory experience in shopping. Signature bread items come in interesting designs, unusual shapes and flavours and imaginative names, complete with the wonderful smell of freshly baked breads from the in-house ovens. Through its strategic international expansion, Breadtalk has successfully established its brand as an- internationally recognised leader in creative bread design and experiential retail shopping. Breadtalk began to plan for international expansion in 2002, using a mixed approach of franchising and wholly owned retail outlet stores. Today, the company has more than 500 boutique bakeries across 15 countries. Breadtalk provides the brand development, whilst the local partners focus on network and operations. For all of its overseas outlets, Breadtalk aims to maintain 80% of its product range and change 20% to suit the local market. For example, there are vegetarian creations for the health conscious and the Indian markets, breads with halal ingredients for Muslim countries and savoury varieties for the Chinese markets. Innovation is the core of Breadtalk’s business, with the research and development team tasked with seeking new recipes to meet the ever—changing tastes of customers. The company replaces 20% of its product range, or adds ten new items per quarter, to ensure an ever-changing bakery menu. Bread presentation and development of new products revolves around themes inspired by social and cultural trends and customs and rituals of individual markets such as New Year, horoscopes and national events. MKTGi 259, Final Examination (\fietnam), Semester 1, 2015 Page 7 of 9 The location of its boutique bakeries and food outlets is of key importance to Breadtalk. All boutique bakeries and food outlets are iocated at strategic and accessible places to maximise high traffic flow. The locations are selected based on proximity to public transport systems such as bus and train stations as well as other factors in the surrounding area such as the presence of department stores, cinemas and supermarkets. Other considerations are the presence of competition and future development of the area. Breadtalk’s strategic locations make it convenient for customers to buy their favourite breads, which are competitively priced from US 0.50 cents. REQUIRED: QUESTION ONE As stated in the case, wholly owned outlets and franchises are two potential entry strategies into new markets for Breadtalk. Discuss three (3) advantages and three (3) disadvantages of both options specifically in relation to Breadtalk. their business model and current situation. (10 marks) QUESTION TWO Define and discuss the concepts of standardisation and adaptation. Provide evidence from the case (three (3) examples for standardisation and three (3) for adaptation) to demonstrate aspects of Breadtalk's value proposition that they have adapted and aspects that they have standardised. (10 marks) QUESTION THREE Discuss two (2) key elements of their marketing mix that play a significant part in the international success of Breadtalk. In your answer, provide evidence from the case to show how Breadtalk has used each element to ensure the success of its business. (10 marks) (10 + 10+ 10= 30 marks) MKTG1259, Final Examination (Vietnam), Semester 1, 2015 Page 8 of 9 ...
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