MKT 430 Exam 3 C13&14

Select all that apply What are the leading exports of the United States? (Check all that apply.) Capital goods Education Dairy products Industrial supplies

Capital goods Industrial supplies

Select all that apply Identify the factors that affect the adoption of certain products by buyers. (Check all that apply.) Conformity with buyers' conduct Political attributes of products Physical characteristics and functions of the product Conformity with buyers' conventions and principles

Conformity with buyers' conduct Physical characteristics and functions of the product Conformity with buyers' conventions and principles

Identify an accurate statement about acceptance of products by consumers in new country markets. Consumer accept new products fairly slowly. Acceptance of a product is independent of its psychological attributes. Consumers accept new products fairly quickly. Acceptance of a product is independent of its country of origin.

Consumer accept new products fairly slowly.

What facilitates a company's success when innovative products are commercially launched? Subornation Expropriation Conversion-ability Self-reference criterion Trialability

Conversion-ability

Match the components of the Product Component Model in the left column to their corresponding examples in the right column. Core component Packaging component Support services component Purpose of product Cost of product Handbook that explains how to use product

Core component --- Purpose of product Packaging component --- Cost of product Support services component --- Handbook that explains how to use product

Select all that apply Select elements in the diffusion of new ideas as stated by Everett Rogers. (Check all that apply.) Creation of a product Communication among members of a political system Communication through specific channels Communication over a period of time

Creation of a product Communication through specific channels Communication over a period of time

Glen's, a multinational chain of restaurants, is famous for its steak dishes. In most outlets of Glen's, consumers prefer rare to medium steak. However, in Palatina, consumers prefer well-done steak. The restaurant modifies its recipe to meet the demands of the consumers because the _____ preference of consumers of Palatina is different from those of the consumers of other countries. cultural legal economic political

Cultural

--- is the process by which market innovation spreads.

Diffusion

The people of Rhoda prefer clothes manufactured by local companies to foreign brands because they want to retain their culture. Identify the concept that this scenario best exemplifies. Ethnocentrism Totalitarianism Acosmism Utilitarianism

Ethnocentrism

True or false: A product that is perceived as extremely innovative is rapidly accepted by consumers because they appreciate its newness. True False

False

True or false: Adaptation is independent of changes in the psychological aspects of a product. True False

False

True or false: Consumers care exclusively about the physical forms of a product. True False

False

True or false: Innovative products are quickly accepted by consumers. True False

False

True or false: Local prerequisites for successful product adaptation facilitate the entry of service companies into foreign markets. True False

False

True or false: When a product is assessed from a foreign user's point of view, the assessment may cause a misjudgment of the product's cultural significance. True False

False

Select all that apply Select the qualities of innovation that control the pace of consumers' acceptance of or resistance to a product. Neutrality Relative advantage Compatibility Observability Complexity Trialability

Relative advantage Compatibility Observability Complexity Trialability

It is difficult to get products repaired and maintained in developing countries because products are pirated frequently. products' primary functions are constant. support services are not readily accessible. innovative products are not purchased often.

support services are not readily accessible.

When a market analyst studies a product's features using the self-reference criterion, _____. devising ways to customize and adopt the product becomes easy the product's cultural significance may be misjudged the product's psychological attributes in a global market are accurately interpreted devising strategies to promote the product in domestic markets become easy

the product's cultural significance may be misjudged

When a market analyst studies a product's features using the self-reference criterion, _____. the product's cultural significance may be misjudged devising ways to customize and adopt the product becomes easy devising strategies to promote the product in domestic markets become easy the product's psychological attributes in a global market are accurately interpreted

the product's cultural significance may be misjudged

According to Everett Rogers, diffusion is differentiated from other types of communications research with respect to the element of _____. logic space time ethics

time

L'Oreal's popular Makeup Genius, which uses a smart phone application to allow potential customers to "try on" makeup before buying it, is an example of _____, one of the five characteristics of innovation. trialability diffusion compatibility complexity relative advantage

trialability

When literacy levels are low in a country, companies should provide product instructions in the form of a(n) _____. video email blog manual written in the local language

video

Select all that apply Select the hurdles faced by companies that would like to offer services in foreign countries. (Check all that apply.) Restrictions of data movement between countries Copyright issues Tariffs Standardization of products

Restrictions of data movement between countries Copyright issues Tariffs

In the context of the Product Component Model, the tangible or material aspect of the product is considered the core component. support services component. packaging component. advertising component.

core component

When a country is perceived as industrialized or developed, _____. it produces low quality goods products manufactured there rarely encounter negative bias products manufactured there rarely encounter positive bias it provides low-grade service

products manufactured there rarely encounter negative bias

Two Asian countries pass laws to restrict the entry of foreign service industries into the local market. This scenario best exemplifies _____. subornation protectionism expropriation collectivism

protectionism

When a global brand is relatively unfamiliar in a country market, companies _____. work toward maintaining the existing brand image purchase familiar brands and revitalize their product components work toward popularizing the new brand do not modify the advertisements used for promotions

purchase familiar brands and revitalize their product components

In the context of the Product Component Model, delivering and installing a refrigerator in a customer's kitchen is an aspect of the ______ component. packaging support services advertising core

support services

Identify a similarity between tangible products and intangible services. Both are characterized by perishability. Both can be stored in anticipation of fluctuations in demand. Both can be sold to businesses and individuals. Both are characterized by separability.

Both can be sold to businesses and individuals.

Which scenario best describes a global brand? A fast-food chain gives a franchisee the right to use its brand name, logo, and trademarks. A coffeehouse's logo of coffee beans is recognized by consumers in 10 countries. A multinational beverage company has patented its soda recipe. A clothing store's logo of the letter 'R' is recognized only in the local market.

A coffeehouse's logo of coffee beans is recognized by consumers in 10 countries.

Select all that apply Select the circumstances that advance conversion in the global pharmaceutical sector. (Check all that apply.) Focus on the sale of existing products Ability and resources to wait a long time to see results Concentration on a handful of significant innovations Previous experience launching innovative products

Ability and resources to wait a long time to see results Concentration on a handful of significant innovations Previous experience launching innovative products

Identify an element that is included in the support services component. Quality of product Styling of product Fixing of malfunctioning product Design features of product

Fixing of malfunctioning product

Match the characteristics of services in the left column to their corresponding description in the right column. Intangibility Inseparability Heterogeneity Perishability One cannot separate creation of services from their consumption. Services must be consumed as soon as they are created. Services cannot be possessed. Services are individually produced and are unique.

Intangibility --- Services cannot be possessed. Inseparability --- One cannot separate creation of services from their consumption. Heterogeneity --- Services are individually produced and are unique. Perishability --- Services must be consumed as soon as they are created.

Select all that apply Identify the accurate statements about a product. (Check all that apply.) It is a collection of fulfillments that a consumer purchases. It is independent of servicing provided by retailers. It is merely a physical item bought by customers. It is dependent on the prestige enjoyed by its brand.

It is a collection of fulfillments that a consumer purchases. It is dependent on the prestige enjoyed by its brand.

Whirling Dervish is a U.S.-based company that manufactures Floor-It, an all-in-one floor-cleaning device that cleans, mops, and shines. The product has been on the market for over a decade and has been very successful and widely accepted by consumers. The company plans to introduce Floor-It to international markets that have few products in the floor-cleaning category. Which of the following should be a concern for the company? It must realize that Floor-It may be perceived as new in the foreign markets. It must market Floor-It as a mature and well-accepted product. It must be prepared for immediate and aggressive demand for Floor-It. It should realize that markets may consider the item outdated and not useful.

It must realize that Floor-It may be perceived as new in the foreign markets.

Identify a scenario that best describes protectionism. Providing financial support to foreign companies Limiting the amount of foreign investment in the field of education Strengthening the defense sector Penalizing an industry for violating safety norms

Limiting the amount of foreign investment in the field of education

Select all that apply Identify the means of overcoming negative country stereotyping. (Check all that apply.) Transborder data flow Market experience Effective brand advertisement Extreme ethnocentrism

Market experience Effective brand advertisement

Select all that apply Select the circumstances that affect an object's pace of diffusion. (Check all that apply.) Sales data of existing products Perceived characteristics of the innovation Degree of perceived newness Approaches utilized to convey ideas about the object

Perceived characteristics of the innovation Degree of perceived newness Approaches utilized to convey ideas about the object

Select all that apply Select the characteristics of services. (Check all that apply.) Homogeneity Perishability Inseparability Intangibility

Perishability Inseparability Intangibility

Select all that apply In the context of the Product Component Model, identify the elements included in the packaging component. (Check all that apply.) Price Warranty Brand name Quality

Price Brand name Quality

Beats Corp., a music company in Hembark, sues another rival music company when the latter sells pirated copies of the latest CD released by Beats Corp. Identify the barrier to entering global markets exemplified in this scenario. Restrictions on transborder data flows Cultural barriers and adaptation Protectionism Protection of intellectual property

Protection of intellectual property

From a sociological point of view, when a group perceives any idea as new, that idea is a(n) _____. arbitration proposition innovation expropriation

innovation

A private bank in Talamri collects and transfers information about its customers (including medical details and employment details) to its business partners. The government of Talamri passes a directive stating that all service companies must obtain individual consent before sharing information about their customers with business partners. Which trade barrier is at work in this scenario? Restrictions on transborder data flows Cultural adaptation Protectionism Protection of intellectual property

Restrictions on transborder data flows

Select all that apply Identify the factors that companies must consider when packaging their products. (Check all that apply.) Size Color Picture Warranty Symbol

Size Color Picture Symbol

Select all that apply Identify the components of the Product Component Model. (Check all that apply.) Advertising component Support services component Core component Packaging component

Support services component Core component Packaging component

Identify a difference between tangible products and intangible services. Tangible products cannot maintain quality assurance over time, whereas intangible services can easily maintain quality assurance. Tangible products can be stored, whereas intangible services must be consumed as they are created. Tangible products cannot be standardized, whereas intangible services can be standardized. Tangible products are heterogeneous, whereas intangible services are homogeneous.

Tangible products can be stored, whereas intangible services must be consumed as they are created.

Identify an accurate statement about private brands. They do not receive preferential shelf space in retail stores. They benefit from in-store advertising in retail stores. They offer premium-priced, low-quality products. They offer lower margins than manufacturers' brands.

They benefit from in-store advertising in retail stores.

To maximize satisfactions received from a product, marketers need to _____. adapt its nonphysical features to suit culture concentrate exclusively on its primary function focus solely on its physical features create both positive and negative attributes

To maximize satisfactions received from a product, marketers need to _____.

Which of the following is the United States' principal services export? Telecommunication Entertainment Education Tourism

Tourism

True or false: International marketers should carefully evaluate the packaging component of their product to ensure that it does not have unintended symbolism. True False

True

True or false: Problems related to copyrights often create hurdles to entering global markets. True False

True

Select all that apply In context of the Product Component Model, identify the elements of the core component. (Check all that apply.) Directions for how to use the product What the product does How the product works The cost of the product

What the product does How the product works

To maximize satisfactions received from a product, marketers need to _____. concentrate exclusively on its primary function adapt its nonphysical features to suit culture focus solely on its physical features create both positive and negative attributes

adapt its nonphysical features to suit culture

If there is a difference between cultures of an existing market and a new market, then _____. adaptation increases costs of production and labor increase the frequency of subornation increases sales of products in domestic markets increase

adaptation increases

If there is a difference between cultures of an existing market and a new market, then _____. adaptation increases the frequency of subornation increases sales of products in domestic markets increase costs of production and labor increase

adaptation increases

In times of economic difficulty, private brands are favored because they _____. are more global provide low margins to retailers are cheap have weak in-store promotions

are cheap

In context of the country-of-origin effect, stereotypes _____. are independent of product quality are based on adequate information and research are responsible for creating perceptions of products are independent of product design

are responsible for creating perceptions of products

The psychological attributes of products are _____. necessarily positive based on societal norms and values independent of a product's nonphysical features necessarily negative

based on societal norms and values

Select all that apply Some companies use different brand names in foreign markets because it is less expensive to offer a product with a new brand name. certain brand names do not make sense when directly translated into a different language. they are required to do so by the United Nations (UN). certain brand names have unacceptable connotations in another culture.

certain brand names do not make sense when directly translated into a different language. certain brand names have unacceptable connotations in another culture.

Brews Inc. and Aromas Inc. are foreign companies that manufacture tea. While there is no stark difference in quality of tea manufactured by the two companies, consumers have more positive perceptions about the tea manufactured by Brews Inc., which is based in the United Kingdom. This scenario is an example of _____. country-of-origin effect relationship marketing customization of products product homologation Need help? Review these conce

country-of-origin effect

The country in which products are manufactured, assembled, or designed has an impact on a consumer's perception of a product. This influence is known as _____. diffusion of innovation country-of-origin effect halo effect product homologation

country-of-origin effect

The U.S. cake mix company mentioned in the text was successful in England because it sold the most popular American cake mixes in England. created new cake mix flavors to shock and amaze English consumers. did extensive market research. raised the price of its cake mixes in England.

did extensive market research.

When a country's literacy rate is low, companies need to modify a product's ______. directions for use psychological attributes key function physical attributes

directions for use

In a developed country, fixing and keeping products in good working condition is easy due to accessibility of multiple support service providers. easy due to frequent piracy of products. difficult due to the absence of company-owned outlets. difficult due to the absence of innovative products.

easy due to accessibility of multiple support service providers.

If a directive requires firms to obtain individual consent before collecting and passing on data, then _____. firms' productivity declines entry of any foreign service industry is prohibited electronic transfer of information is restricted firms' profit increases

electronic transfer of information is restricted

In terms of industrialization, stereotypes are _____. independent of the quality of service independent of a country's industrialization general perceptions of the quality of a country's products general perceptions of a product's appearance

general perceptions of the quality of a country's products

A name, term, sign, symbol, or design that serves to identify a seller's goods or services and differentiate them from those of competitors worldwide is known as a ----. (Enter one word in each blank.)

global brand

The more innovative a product is observed to be, _____. the easier it is to provide after-sales services across countries it becomes increasingly difficult for consumers to recall the product it becomes increasingly challenging to acquire consumer approval the easier it is to modify primary functions of the product

it becomes increasingly challenging to acquire consumer approval

A culture needs time to accept a new product. This is essential knowledge for marketers because it _____. minimizes marketers' expectation that profitability will occur quickly minimizes problems caused by political diversity provides a time frame to avoid product homologation minimizes psychological overlaps

minimizes marketers' expectation that profitability will occur quickly

For nearly a decade, the coffee manufactured in Corica did not gain popularity in the global market because the country was well known for manufacturing tea. But Corica's coffee-manufacturing companies stayed in the market and devised strategies to increase the sales of their products. In this scenario, it is evident that _____. negative stereotypes can be overcome, but it takes a long time product homologation decreased the sales of Corica's products expropriation helped Corica overcome negative stereotypes market experience and research reduced market-perceived quality

negative stereotypes can be overcome, but it takes a long time

Select all that apply How can global brands compete with private brands? offer products with high value offer thousands of new innovative products annually price aggressively restrict transborder data flow

offer products with high value price aggressively

Products from developing countries _____. are often considered superior to products from developed countries often encounter negative bias often face copyright issues are often more expensive than products from developed countries

often encounter negative bias

According to the Product Component Model, the box a smart phone arrives in is an aspect of its --- component. (Enter one word in the blank.)

packaging

Ethnocentrism can create _____. positive perceptions of services offered by foreign firms preference for locally manufactured products negative perceptions of locally manufactured products indifference toward both locally manufactured and foreign products

preference for locally manufactured products