Midterm Test IM 19 Oct.2023 s5
Midterm Test IM 19 Oct.2023 s5
Midterm Test IM 19 Oct.2023 s5
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PART 2: MULTIPLE CHOICES (1.0 points)
Please write your answer down in your answer sheet paper.
1. The most formal definition of marketing is _________________
a. the 7Ps (Product, Price, Place, Promotion, People, Process, and Physical evidences)
b. an organizational function and a set of processes for creating, communicating, and
delivering, value to customers, and for managing customer relationships in ways that
benefit the organization and its stake holders.
c. meeting needs profitably
d. identifying and meeting human and social needs
2. International marketers must decide _______________
a. which countries to enter
b. how to enter each country (as an exporter, licenser, joint venture partner, contract
manufacturer, or solo manufacturer)
c. how to adapt their product and service features to each country
d. all of the above.
3. The ability of a company to meet each customer’s requirements—to prepare on a mass
basis individually designed products, services, programs, and communications, is referred
to as ________.
a. proactive customer service
b. individualization
c. mass customization
d. competitive advantage
4. Under this type of agreement, one firm permits another to use its intellectual property
such as trademarks, copyrights or patents in exchange for royalty compensation. What is
this type of agreement called?
a. Licensing
b. Foreign direct investment
c. Indirect exporting
d. Standardization and adaptation
5. International marketing strategy according to which company uses separate marketing
mix for each international target market is classified as
a. Product adaptation marketing
b. Straight product marketing
c. Adapted interntional marketing
d. Standardized interntional marketing
6. Way of entering international / multinational foreign markets by setting up foreign
manufacturing facilities is classified as
a. Direct investment
b. Joint venture
c. Franchising
d. Export union
7. International marketing strategy according to which company uses same marketing mix in
all international markets is called
a. Straight product marketing
b. Standardized international marketing
c. Adapted global marketing
d. Product adaptation marketing
8. International marketing occurs in markets_________________
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b. using the different marketing tools everywhere
c. outside the organization’s home country
d. doing business in all of the 200-plus country markets
e. with marketing strategies in the developed country
9. ________ is the study of how individuals, groups, and organizations select, buy, use, and
dispose of goods, services, ideas, or experiences to satisfy their needs and wants.
a. Target marketing
b. Psychographic segmentation
c. Psychology
d. Consumer behavior
10. Consumers learn about brands through ___________ and product marketing programs.
a. past experiences with the product
b. the mass media communications
c. the personal communication of sales force
d. the products and services knowledge and shopping bots
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phones that had multiple touch i.e. iphone. It was basically a combination of a smart phone
and ipod. It has many version with the latest one as iphone 12 and more version plus.
Other relevants: IPod: - A unique kind of portable digital music player. Various
variations have come up in the market as iPod Nano, iPod touch, iPod shuffle and many
more., Apple watch: - Watch where you can keep a track of your fitness schedules. Apple
TV: - One of the biggest failures for apple is the introduction of apple TV and Software and
Services.
Following is the distribution strategy of Apple adaptation: an aggressive strategy in
reaching out to premium customers. Apple came up with the idea of opening its own outlets
i.e. There are various channels that are being used by Apple Inc to target the end consumers.
Apple stores where it could sell its products. They also brought the concept of trade partners.
They collaborate with such trade partners to maintain the distribution channel. They have
firm believe that keeping lesser number of trade partners can increase the efficiency of
distribution channel. These products are then sending to authorized retailers for apple
products. These are premium retailers who are given targets as set by the company. Apple
stores providing an experience to its customers, also price based on the added value of
experience over product. Another channel of selling is through online portals. Most e-
commerce portals have apple products and it is one biggest point of sale for apple. One of the
differentiator factors for apple is that they have lots of staff in the apple stores because of its
complexity.
Apple Inc products are premium products and they do not target all the sections of the
society. Being a market leader in its segment, the marketing mix pricing strategy of Apple is
that of a market leader. However, competition also influences its pricing. Apple is always
know for its innovation and innovation comes up with cost. So, they follow premium pricing
policy in order to delight their customers. Most of its products such as Mac book, iphone,
iPad are all comes under premium products category. Apple products are costly and are also
considered as a status symbol. It is always argued that why these products are so costly. One
of the reasons for it is the technology that is being used in the products. Once you get
addicted with these products, you won’t think about other brands
As for communications, Apple Inc targets specific segment of people. So during
promotional activities, its main focus is on its products and the differentiating factors that
make its unique from the competitors. The promotional strategy in the marketing mix of
Apple focuses on aggressive advertising using various channels like TV, print media, online
ads, billboards etc. If we closely see the ads that Apple has come up with, it has always tried
to focus on how different it is from the competitors. It has always believed that ads should be
simple and gets connected to the heart of the people. These ads are to the point and no
irrelevant information. These ads will come during any one of the product launch and will run
for a very long time. Apple Inc hardly comes with any sales offers or gives discounts to any
other people except students.
TASKS REQUIRED:
1. What it is Apple Inc. briefly? (1.0 points)
2. What are the Key Success Factors (KFSs.) of Apple Inc. global market? (1.0
Points)
3. Is Apple's in the world market, considered as standardization marketing player or
localization marketing player? The reasons why? (2.0 Points)
- The end -
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