MKTG 4280 Ch. 13 McGraw-Hill Connect

Select the circumstances that advance conversion in the global pharmaceutical sector. (Check all that apply.)

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

Which of the following statements are true regarding the impact of global competition on business? (Select all that apply.)

- Companies must emphasize competitive prices. - Product life cycles are increasingly shorter.

Select the qualities of innovation that control the pace of consumers' acceptance of or resistance to a product.

- Complexity - Compatibility - Observability - Relative advantage - Trialability

Identify the factors that affect the adoption of certain products by buyers. (Check all that apply.)

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

Identify the major categories of U.S. exports. (Check all that apply.)

- Goods that are nondurable - Services - Goods that are durable

In context of the Product Component Model, identify the elements of the core component. (Check all that apply.)

- How the product works - What the product does

What are the leading exports of the United States? (Check all that apply.)

- Industrial supplies - Capital goods

Select the characteristics of services. (Check all that apply.)

- Intangibility - Inseparability - Perishability

Identify the accurate statements about a product. (Check all that apply.)

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

Identify the utilities or satisfactions associated with a product. (Check all that apply.)

- Its smell - Its color - Its labeling - Its texture - Its major function

Identify the components of the Product Component Model. (Check all that apply.)

- Packaging component - Core component - Support services component

Select the circumstances that affect an object's pace of diffusion. (Check all that apply.)

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

In the context of the Product Component Model, identify the elements included in the packaging component. (Check all that apply.)

- Quality - Price - Brand name

Select the hurdles faced by companies that would like to offer services in foreign countries. (Check all that apply.)

- Tariffs - Copyright issues - Restrictions of data movement between countries

Some companies use different brand names in foreign markets because

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

Quality is defined on which of the following dimensions?

- market-perceived quality - performance quality

How can global brands compete with private brands?

- offer products with high value - price aggressively

Examples of companies' green marketing efforts include

- using recycled components in products - reducing packaging waste - reducing the fuel emissions of vehicles

What facilitates a company's success when innovative products are commercially launched?

Conversion-ability

Match the components of the Product Component Model in the left column to their corresponding examples in the right column. Instructions

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

_________ is the process by which market innovation spreads.

Diffusion

Match the categories of U.S. exports (on the left-hand side) to their corresponding examples (on the right-hand side).

Durable goods = Computers and cars Nondurable goods = Drugs, toys, and food Services = Telecommunications and tourism

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

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

False. Adaptation may require changes to any one or all of the psychological aspects of a product.

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

False. Cultural requirements for adaptation hinder the entry of consumer services into the global marketplace.

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

False. The more innovative a product is perceived to be, the harder it is to gain market acceptance. Innovations are often disruptive.

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

False. The more innovative a product is perceived to be, the more difficult it is to gain market acceptance.

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

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

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

The more innovative a product is observed to be, _____.

it becomes increasingly challenging to acquire consumer approval

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

protectionism

When a global brand is relatively unfamiliar in a country market, companies _____.

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.

support services

It is difficult to get products repaired and maintained in developing countries because

support services are not readily accessible.

Identify a true statement about maintaining quality in today's global competitive market. (Check all that apply.)

-It is necessary. - It is desirable.

Which scenario best describes a global brand?

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

Identify an element that is included in the support services component.

Fixing of malfunctioning product

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

__________ ___________ is the term used to identify concern with the environmental consequences of a variety of marketing activities.

Green Marketing

Match the characteristics of services in the left column to their corresponding description in the right column. Instructions

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.

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.

Identify a scenario that best describes protectionism.

Limiting the amount of foreign investment in the field of education

Match the dimensions that define quality in the left column to their corresponding description in the right column. Instructions

Performance quality = Refers to a product's ability to carry out its primary function Market-perceived quality = Refers to a consumer's satisfaction with many aspects of a product

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

Which factor is crucial in delivering a quality product?

Standardization

Identify an accurate statement about private brands.

They benefit from in-store advertising in retail stores.

Which of the following is the United States' principal services export?

Tourism

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

adapt its nonphysical features to suit culture

In context of the country-of-origin effect, stereotypes _____.

are responsible for creating perceptions of products

The psychological attributes of products are _____.

based on societal norms and values

Thanks in part to the smartphone, marketplace power is held by

consumers.

The U.S. cake mix company mentioned in the text was successful in England because it

did extensive market research.

In a developed country, fixing and keeping products in good working condition is

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 _____.

electronic transfer of information is restricted

In terms of industrialization, stereotypes are _____.

general perceptions of the quality of a country's products

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

innovation

In the context of the Product Component Model, an importance of the core component is that _____.

it can be altered to meet local preference

Both marketers and communication researchers who study diffusion seek to

minimize the interval between the launch and acceptance of an idea or a product

Products from developing 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 _____.

preference for locally manufactured products

ComfyLife Corp., a manufacturer of home appliances, plans to launch a new line of refrigerators in Murico, a developing region. Because power supply is irregular in that region, the company re-designs its refrigerators so that they can function efficiently even during power failures. This scenario is a possible example of _____.

product homologation

Local product and service standards mandate certain changes. These changes are described as _____.

product homologation

When a country is perceived as industrialized or developed, _____.

products manufactured there rarely encounter NEGATIVE bias