Mastering Marketing & Global Trade Dynamics: Key Concepts

Posted on May 28, 2025 in Business Administration and Management (BAM)

Study Quiz 1.1: Marketing Fundamentals

  1. 1. Marketing is: e) All of the answers listed.
  2. 2. The presence of price and quality variance in markets means: A few suppliers’ products and services are best buys; most are not.
  3. 3. Marketing is about: b) Increasing customer satisfaction, which in turn increases profits.
  4. 4. Product innovation and the diffusion of innovation create: d) All of the answers listed.
  5. 5. Marketing is the business discipline responsible for: c) Product innovation and the diffusion of innovation.
  6. 6. The focus of companies needs to be on winning: c) Both a and b.
  7. 7. A responsibility of marketers is to sell new products and ideas to: d) All of the answers listed.
  8. 8. Excellence in advertising and promotions is most needed: b) When your products and distribution are strong.
  9. 9. The United States market is no longer where the action is: c) Because it is growing much slower than Asia.
  10. 10. The future of the United States and Canada depends on their: c) Marketing skills.

Study Quiz 1.2: Wealth Creation & Trading Empires

  1. 1. The British Trading Empire replaced: b) The Spanish Trading Empire.
  2. 2. For how long has trading dominated raiding as a way of obtaining wealth and power? a) It is relatively new.
  3. 3. The first ecological disaster that destroyed an early trading empire occurred in: d) The Middle East.
  4. 4. How many times has China closed down its trade with the world? c) Three times.
  5. 5. Wealth is created by: d) The dynamic combination of selling, buying, and invention.
  6. 6. Schumpeterian wealth is created by: b) Invention.
  7. 7. Adam Smith described a process where wealth is created by: a) Selling and buying.

Study Quiz 1.3: Distribution & Economic History

  1. 1. What competitive advantage does North America have that is discussed in this section? c) A superior distribution system.
  2. 2. Walmart has increased the productivity of _________. c) The whole of the United States.
  3. 3. Economic history is hard on: d) All of the answers listed.
  4. 4. _________ leads as the innovator and mass market trendsetter in reducing supply chain and distribution costs. a) Walmart.
  5. 5. What created the mixing of cultures? b) Trading routes.
  6. 6. In many parts of Europe, a system of transportation as efficient as that of ancient Rome was not present until: c) The 18th or even 19th century.
  7. 7. The refrigerated cargo ship was invented in the _______. a) 1860s.
  8. 8. What is yet to fully react to the extraordinary changes in distribution over the last four generations? d) All of the answers listed.

Study Quiz 1.4: Global Supply Chain Dynamics

  1. 18. Alfred D. Chandler, The Visible Hand: The Managerial Revolution in American Business (Cambridge, MA: Harvard University Press, 1977, pp. 227-239) and Scale and Scope: The Dynamics of Industrial Capitalism, The Revolution in Distribution (Cambridge, MA: Harvard University Press, 1994, pp. 58-61). b) No longer competitive manufacturing or farming skills.
  2. 2. The winners in the global distribution and supply chain dynamic are particularly those with: b) Traders who respond to market forces fast and.
  3. 3. What has changed the global marketplace are new communication and transportation technologies, low labor costs and t: c) Quality and on-time delivery assurance contracts.
  4. 4. When domestic and global sources in existing trading alliances come under pressure to innovate, reduce prices, and increase services: e) a, b, and c above.
  5. 5. When an economic downturn occurs as a result of shifting investment and employment resulting from global sourcing: a) Distributors try even harder to discover new sources of global supply.
  6. 6. Which of the following activities directly follows “Retailer/distributor develops a trading alliance with new source” in the global supply-chain dynamic? b) Domestic and global sources in existing trading alliances come under pressure to innovate, reduce prices, and increase services.
  7. 7. The lower the cost of trade and the faster the speed of trade flows: e) a and b above.
  8. 8. A positive outcome of the global trading dynamic is: d) All of the listed options.
  9. 9. __________ production methods can be made to work in regions that have barely progressed beyond the stage of peasantry. b) Modern.
  10. 10. FedEx, UPS, and DHL have a few great process thinkers and a lot of good distribution process implementers who are________________: c) Asked to think about what they do and how to improve what they do.