INT MKT
_____ is the process by which innovation spreads. A. Diffusion B. Filtering C. Dissolution D. Flighting E. Cascading
A. Diffusion
Business-to-business marketers frequently misinterpret the concept of quality. Which of the following examples best illustrates this idea? A. Farmers in developing countries often prefer less-efficient but easier-to-maintain products. B. Accountants in the Middle East often use the abacus rather than a calculator. C. Some Japanese firms do not do business with many U.S. suppliers because their packaging is faulty. D. Products that are imported into a country are usually customized for the users in the country. E. ISO 9000 standards are universally accepted as a guarantee of the suitability of products in consumer applications.
A. Farmers in developing countries often prefer less-efficient but easier-to-maintain products.
Insurance, dry cleaning, and hotel accommodations have intrinsic value resulting from a process, a performance, or an occurrence that only exists while it is being created. Which of the following characteristics of services best matches to the above? A. Intangibility. B. Inseparability. C. Profitability. D. Heterogeneity. E. Perishability.
A. Intangibility.
Which of the following is a factor that exacerbates the volatility in demand in industrial markets? A. Professional buyers in the market tend to act in concert. B. The demand for industrial goods is independent of changes in economic development. C. Small, noncyclical swings in demand are inherent in industrial markets. D. Experienced purchasers tend to take buying decisions independently. E. The demand for industrial goods is highly inelastic.
A. Professional buyers in the market tend to act in concert.
Marketers of consumer services face four kinds of barriers in the global marketplace. Which of the following of these barriers is in force when a foreign market requires that services (such as banking or insurance) originate within the country itself and not from outside sources? A. Protectionism. B. Controls on transborder data flows. C. Protection of intellectual property. D. Cultural requirements for adaptation. E. Language translation barriers.
A. Protectionism.
Which of the following countries is not officially on the metric system? A. The United States B. Japan C. Saudi Arabia D. Mexico E. China
A. The United States
Which of the following factors account for greater market similarities among industrial goods customers than among consumer goods customers? A. The inherent nature of the product. B. The motive of both groups of customers being individual satisfaction. C. Government control over design specifications. D. Industrial goods being associated with after-sales services. E. The restriction on international sale of industrial goods.
A. The inherent nature of the product.
Which of the following is possibly the best indicator of a country's ability to use technology to leap several stages of economic development in a very short time? A. The quality of the educational system. B. The size of the population. C. The general economic environment. D. The size and growth rate of the market. E. The level of government regulations.
A. The quality of the educational system.
Which of the following is the first stage of Rostow's five-stage model of economic development? A. The traditional society. B. Drive to maturity. C. Preconditions for takeoff. D. Takeoff. E. The age of mass consumption.
A. The traditional society.
The success achieved by firms when they take their inventions to market is referred to as _____. A. conversion-ability B. product penetration C. diffusion D. marketization E. mass customization
A. conversion-ability
The product platform, design features, and functional features are all found in the _____ component of the product, according to the product component model. A. core B. support C. packaging D. functional E. global
A. core
Vital Health Products found out that they had to reduce the length of the tread in their treadmills sold in China owing to the shorter legs of the average Chinese person. By doing this, Vital has achieved product _____. A. homologation B. standardization C. dilution D. flexibility E. repositioning
A. homologation
A wine company had to market its products with a different name in a foreign market as it was mandatory to translate the name in the local language. The factor that is influencing product adaptation in the above scenario is _____. A. legal requirements B. climatic requirements C. technological requirements D. cultural requirements E. economic requirements
A. legal requirements
An important dimension of quality is how well the product: A. meets the specific needs of the buyer. B. exceeds competitors' products. C. conforms to manufacturer's specifications. D. alters the marketing landscape. E. saves time and labor.
A. meets the specific needs of the buyer.
The Global Harmonization Task Force is an international effort that is attempting to: A. synchronize standards for several international industrial sectors. B. promote free trade among developing and developed nations. C. equalize wages among countries. D. increase double testing of goods and services. E. equalize the perception of quality across countries.
A. synchronize standards for several international industrial sectors.
An important first step in adapting a product to a foreign market is to determine: A. the degree of newness as perceived by the intended market. B. the economic climate of the target market. C. the advertising parallels with the domestic market. D. the ability of a sales force to sell the product. E. the compliancy to religious doctrine(s) in the foreign country.
A. the degree of newness as perceived by the intended market.
Demand in industrial markets differs from demand in consumer markets in that: A. the demand for industrial goods is more volatile than the demand for consumer goods. B. the market for industrial goods is smaller than the market for consumer goods. C. the industrial goods market is less competitive than the consumer goods market. D. industrial products are always more expensive than consumer products. E. industrial products use the same level of technology for all products making it appropriate for all countries.
A. the demand for industrial goods is more volatile than the demand for consumer goods.
Consumers have broad but somewhat vague stereotypes about specific countries and specific product categories that they judge "best." Which of the following would not fit in the "best" stereotype scheme? A. English tea B. American chocolate C. French perfume D. Chinese silk E. Jamaican rum
B. American chocolate
Maxcare, an insurance firm based in California had difficulties expanding their operations to Asian markets, as most of their target countries had strict regulations on transferring the details of the customers among the different branches of the firm. The company had to obtain an approval from its customers before sharing their personal information with their branches in other countries. Which of the following barriers is affecting the services of the insurance firm in the above scenario? A. Protectionism. B. Controls on transborder data flows. C. Protection of intellectual property. D. Cultural requirements for adaptation. E. Language translation barriers.
B. Controls on transborder data flows.
A clothing company in Singapore which specialized in women's clothing, had to modify its clothes before introducing them to Iranian markets, to suit the needs of women in that country. Women in Iran are expected to cover themselves completely. The company mostly used opaque material and provided accessories like scarves. Which of the following factors is dictating product adaptation in the above scenario? A. Legal requirements. B. Cultural requirements. C. Technological requirements. D. Economic requirements. E. Climatic requirements.
B. Cultural requirements.
A Korean electronics company had to add detailed instructions regarding the repair and replacement of its product to make it easy for the local consumers to maintain it. Which of the following components of the product is being altered in the given scenario? A. Support services component. B. Design component. C. Core component. D. Packaging component. E. Functional component.
B. Design component.
Which of the following statements regarding the industrial goods market is true? A. Industrial goods are marketed through the same channels as consumer goods. B. Industrial goods are more standardized than consumer goods. C. Industrial goods are meant for consumption by the buyer. D. The industrial goods market is highly concentrated. E. Marketing efforts in the industrial goods market are highly customized.
B. Industrial goods are more standardized than consumer goods.
Which is the largest services export of the United States, ranking behind only capital goods and industrial supplies when all exports are counted? A. Media and entertainment. B. International tourism. C. Healthcare. D. Research and development. E. Education services.
B. International tourism.
What are the two dimensions that help in defining the quality of a product of quality? A. Product quality and process quality. B. Market-perceived quality and performance quality. C. Product quality and service quality. D. Actual quality and assumed quality. E. Absolute quality and relative quality.
B. Market-perceived quality and performance quality.
Which of the following is true of Stage 1 of Rostow's five-stage model of economic development? A. The economy is primarily driven by the production of services. B. The most important industrial demand relates to natural resources extraction. C. Infrastructure development is a primary requirement in the economy. D. Manufacturing of both semidurable and nondurable consumer goods has begun. E. The focus is on low-cost manufacturing of a variety of consumer and some industrial goods.
B. The most important industrial demand relates to natural resources extraction.
Why are German and Japanese firms generally better at managing market volatility than American firms? A. Their emphasis is on beating competitors. B. They value employees highly and eschew layoffs. C. They maintain limited product lines. D. They reduce prices faster and raise advertising expenditures during booms. E. They consider market share to be a strategic goal.
B. They value employees highly and eschew layoffs.
Carolyn is interested in marketing her company's diet products in Asia. She is studying the acceptable behavior, norms, and values in Asian markets. Carolyn is studying _____. A. relative advantage B. compatibility C. complexity D. trialability E. observability
B. compatibility
As part of the "green movement", the European Commission has passed legislation to control all kinds of packaging waste throughout the European Union. Two critical issues that affect product development are the control of the packaging component of solid waste and _____. A. variations in standards across different member countries B. consumer demand for environmentally friendly products C. government subsidies for greener technologies D. availability of alternative energy resources for production E. management of existing inventory of conventional energy products
B. consumer demand for environmentally friendly products
The perception of quality: A. is specified by the government. B. depends solely on the customer. C. is defined by universal quality standards. D. depends on the manufacturer's specifications. E. are the same for most industrial goods.
B. depends solely on the customer.
In the _____ stage of Rostow's five-stage model of economic development, an industrialized economy's focus is more on low-cost manufacturing of a variety of consumer and some industrial products; they buy from all categories of industrial products and services. A. traditional society B. drive to maturity C. preconditions to takeoff D. age of mass consumption E. takeoff
B. drive to maturity
In Russia, products are divided into two categories— "ours" and "imported." This is an example of: A. cultural revisionism B. ethnocentrism C. conversion to capitalism D. communist mentality E. structural marketing orientation
B. ethnocentrism
Bagel's foods had to change the labeling on their products to meet the specifications regarding vegetarian and non-vegetarian foods, set by the government in the Japanese market. They also had to mention the ingredients in Japanese to make it clear for the local customers. The component of the product that is in focus in the above scenario is the _____. A. support services component B. packaging component C. functional component D. design component E. core component
B. packaging component
According to the product component model, installation, repair and maintenance, deliveries, and warranties are all part of the _____ component of the product. A. core B. support services C. packaging D. functional E. global
B. support services
Which of the following is a physical attribute of a product that is essential for its primary function? A. Colors B. Prices C. Components D. Designs E. Sizes
C. Components
Booster bar is a popular brand of energy bars in Canada. The company sold these bars singly or in packs of two in the South Asian markets, instead of their regular multiple-item packaging containing 10 or 20 bars to make it more affordable for the consumers. Which of the following requirements of the local market is influencing product adaptation in the above scenario? A. Legal requirements. B. Political requirement. C. Economical requirements. D. Technological requirements. E. Cultural requirements.
C. Economical requirements.
Which of the following has been at the forefront of the "green movement"? A. The United States B. Japan C. Europe D. OPEC countries E. NAFTA countries
C. Europe
Which of the following factors spurs demand for technologically advanced products in the world? A. An increase in the size of the global unskilled labor force. B. Large fiscal deficits in developed nations. C. Expanding economic and industrial growth in Asia. D. The increase in the average age in Europe. E. The opening of the Trans-Arctic route.
C. Expanding economic and industrial growth in Asia.
Which of the following is true regarding the impact of global competition on the business activities in the marketplace? A. It has shifted the focus in the marketplace from a consumer's market to a seller's market. B. It has improved the financial position of domestic industries. C. It has put more power in the hands of the customer. D. It has shifted the focus away from the performance quality of a product. E. It has limited the choices of the consumers.
C. It has put more power in the hands of the customer.
How do the vast majority of services enter a foreign market? A. Exporting. B. Importing. C. Licensing, franchising, or direct investment. D. Through brokers. E. Through agent intermediaries.
C. Licensing, franchising, or direct investment.
Which of the following factors is mainly responsible for a perceptual bias when interpreting the characteristics of a product? A. Poor product knowledge. B. Noise in the communication channel. C. Market analyst's self-reference criterion. D. Multitude of competing products. E. Market analyst's intelligence quotient.
C. Market analyst's self-reference criterion.
Apple Computer had difficulties when it first entered the Japanese market with its Macintosh computers. Some of the computers were returned unused after customers found the wrapping on the instruction manual damaged. Though this would probably be no big deal in the U.S., it was certainly a cause for concern in quality-conscious Japan. To fix the problem, Apple needed to concentrate on which of the following components of the product component model? A. Core component. B. Support services component. C. Packaging component. D. Functional component. E. Global component.
C. Packaging component.
Which of the following can be used as a measure to manage volatility in industrial demand in the domestic market? A. Maintaining a narrow product line. B. Gradually reducing prices. C. Reducing advertising expenditures during booms. D. Focusing on market share as a strategic goal. E. Avoiding investment in foreign high-yield financial instruments.
C. Reducing advertising expenditures during booms.
Which of the following is an additional reason for marketing industrial goods abroad that does NOT necessarily apply to consumer goods? A. Increasing sales and profits. B. Extending product life cycles. C. Reducing the volatility of demand. D. Gaining exposure to more customers. E. Keeping up with the competition.
C. Reducing the volatility of demand.
Which of the following is probably the most significant factor affecting the international market for industrial goods and services? A. The foreign exchange market. B. Political conditions. C. The degree of industrialization. D. The level of domestic competition. E. Inflation.
C. The degree of industrialization.
Buyers in Country X preferred to use the older version of Firm A's product although it was bulkier and less user-friendly. Buyers in Country Y, however, preferred to use the newer, lightweight version for its new user interface. What can be inferred from this information? A. Firm A needs to revamp its after-sales services. B. The sales of industrial goods are higher in Country X than in Country Y. C. The perception of quality can differ across countries. D. Country X is a highly industrialized nation. E. Country Y has a lower average income level compared to Country X.
C. The perception of quality can differ across countries.
Which of the following will expand demand, particularly for industrial goods and business services, in Latin America? A. A sharp increase in government spending. B. The creation of centrally-planned economies. C. The privatization of state-owned enterprises. D. The increasing use of labor in place of capital in production. E. An increase in the number of government regulation.
C. The privatization of state-owned enterprises.
According to Everett Rogers, what is the element that differentiates diffusion from other types of communications research? A. Breakthrough innovation B. Communications channels C. Time D. Social system E. Government system
C. Time
A company focusing its efforts on making its new innovation more user-friendly is working on the _____ of the product. A. relative advantage B. compatibility C. complexity D. trialability E. observability
C. complexity
Mark Harmon has found that using his new digital camera is a snap. He did not even have to read the instruction manual to determine how to turn the camera on, snap a digital picture, and export the picture to his computer. The signs (symbols) on the camera body made it very clear what he was to do to achieve digital photography success. Which of the following characteristics of Mark's "new product" made it easy for him to begin his digital experience? A. relative advantage B. compatibility C. complexity D. trialability E. observability
C. complexity
Omega appliances, a Korean company that manufactures kitchen appliances had to alter the design of its chimneys to suit the needs of the consumers in its Japanese market. The Japanese preferred compact and efficient appliances to fit their small kitchens. The component of the product that had to be altered in the above scenario is the _____. A. packaging component B. functional component C. core component D. technical component E. support services component
C. core component
A shoe manufacturer in Puerto Ria shipped his entire production to San Francisco and brought it back to his home country to market it as "Made in the U.S." He knew that people would prefer buying products made in the U.S. rather than those that are domestically produced. The factor that is influencing the perception of the customers in the above scenario is called _____. A. host country effect B. first-mover advantage C. country-of-origin effect D. copycat aversion E. product homologation
C. country-of-origin effect
Derived demand can be defined as demand that is: A. independent of price. B. matched to consumer wants and needs. C. dependent on another source. D. highly volatile. E. highly responsive to factors other than price.
C. dependent on another source.
A name, term, sign, symbol, design, or combination used worldwide to identify goods or services of one seller and to differentiate them from those of competitors is called a(n) _____. A. trademark B. copymark C. global brand D. brand's equity position E. owner's mark
C. global brand
HT motors is introducing a new technology in its cars to improve the mileage of the cars as well as to reduce carbon emissions. The company is also taking measures to improve its production facilities in order to reduce its carbon footprint. These measures employed by HT motors to meet the guidelines issued by the government shows that the company is engaging in ________. A. permission marketing B. value-based marketing C. green marketing D. cause marketing E. greenwashing
C. green marketing
The process of total quality management (TQM) starts with: A. providing all customers with technologically advanced products. B. signing trade agreements with other countries. C. involving customers in the product development process. D. reducing the time taken for the product to reach the market. E. marketing the products at trade shows and fairs.
C. involving customers in the product development process.
If a country is in Stage 5 (the age of mass consumption) of Rostow's five-stage model of economic development, it purchases most of its highest-technology products and services from _____. A. Stage 4 suppliers B. Stage 3 suppliers C. other Stage 5 suppliers D. Stage 1 suppliers E. Stage 2 suppliers
C. other Stage 5 suppliers
Mary is a new international sales rep for an industrial supply company. She will learn that the inherent nature of industrial goods creates a market where: A. firms engage in a high degree of customization. B. most of the production and sale of a good takes place in the domestic market. C. product and marketing mix standardization are commonplace. D. the demand for the good produced is relatively predictable and stable. E. the buyer seeks satisfaction from the product.
C. product and marketing mix standardization are commonplace.
Industrial goods differ from consumer goods in that: A. sales of consumer goods are highly responsive to changes in price. B. industrial goods are highly customized. C. the demand for industrial goods is largely derived demand. D. sales of industrial goods are stable and do not fluctuate. E. consumer goods are traded in the international market.
C. the demand for industrial goods is largely derived demand.
Goods are likely to be standardized if: A. they are being produced by the same firm. B. the cost of producing each unit is the same. C. their uses are the same across markets. D. they are being sold to different income groups. E. they are being sold in different countries.
C. their uses are the same across markets.
A European chocolate manufacturer received several complaints from customers about the quality of its product when it began selling them in a tropical country. The firm had to re-package its chocolate bars in an extra plastic wrapper to protect it from the heat and dust. Which of the following factors in the local market dictated product adaptation in the current scenario? A. Legal requirements. B. Economic requirements. C. Political requirements. D. Climatic requirements. E. Technological requirements.
D. Climatic requirements.
Adore cosmetics had to increase the SPF value of their sunscreen lotions marketed in the Middle East to provide more protection against UV radiation. Which of the following factors is dictating product adaptation in the above scenario? A. Legal requirements. B. Cultural requirements. C. Economic requirements. D. Climatic requirements. E. Political requirements.
D. Climatic requirements.
The Red Lobster seafood restaurant is considering opening branch operations in China. However, the restaurant chain's labor union has already pointed out a potential problem with this expansion. In China, it is considered to be in bad taste to allow employees to collect tips for service. Since a great portion of a typical wait-staff person's compensation comes in the form of tips, the union would like to know how employees would be compensated for this loss. The above example illustrates which of the following barriers a consumer services marketer faces in a foreign market? A. Protectionism. B. Controls on transborder data flows. C. Protection of intellectual property. D. Cultural requirements for adaptation. E. Language translation barriers.
D. Cultural requirements for adaptation.
Which of the following stages of Rostow's five-stage model of economic growth do industrialized economies such as Korea and the Czech Republic fit into? A. Preconditions to takeoff. B. Takeoff. C. Traditional society. D. Drive to maturity. E. The age of mass consumption.
D. Drive to maturity.
Simone Francis is a specialist in product design. She is responsible for a product's aesthetic as well as functional appearance. With respect to the product component model, in which of the following component categories would Simone's talents most likely be used? A. Core component. B. Support services component. C. Packaging component. D. Functional component. E. Global component.
D. Functional component.
_____ is a term used to identify concern with the environmental consequences of a variety of marketing activities. A. Greenhouse business B. Hybrid business C. Greenfield business D. Green marketing E. Alternative marketing
D. Green marketing
Which of the following is the most important criterion for consumers while purchasing products? A. Appearance B. Size C. Technology D. Quality E. Service
D. Quality
In some countries, maintenance of automobiles is not the norm. Cars are not repaired until they break down. Since the consumer is automatically angry with the manufacturer when something goes wrong with the car, repair and maintenance has become a concern of the various automobile manufacturers in this market. In which of the following components of the product component model would the management need to make improvements if problems such as the one above are to be solved? A. Core component. B. Functional component. C. Packaging component. D. Support services component. E. Design component.
D. Support services component.
A country has reached a level of economic development where there is focus on manufacturing of both semidurable and nondurable consumer goods. Also, the goods demanded relate to equipment and supplies to support manufacturing. Which of the following stages of Rostow's five-stage model of economic growth is the country in? A. The traditional society. B. Drive to maturity. C. Preconditions for takeoff. D. Takeoff. E. The age of mass consumption.
D. Takeoff.
Which of the following is true of the ISO 9000 certification? A. The ISO 9000 standards apply to specific products. B. It guarantees that a manufacturer produces a "quality" product or service. C. The series describes eight quality system models. D. The ISO 9000 standards are a certification of the quality control system that a company has in place. E. The ISO 9000s were originally designed by the International Organization for Quality in the U.S.
D. The ISO 9000 standards are a certification of the quality control system that a company has in place.
Which of the following is considered to be one of the extraneous variables that affects the rate of diffusion of an object? A. The use of the internet in the diffusion process. B. The age appearance of the innovation. C. The number of marketing personnel dedicated to diffusion. D. The method used to communicate the idea. E. The shelf life of the diffusion object.
D. The method used to communicate the idea.
Along with industrial goods, the most rapidly growing sector of U.S. international trade today consists of: A. social services. B. consumer products. C. manufactured goods. D. business services. E. governmental services.
D. business services.
In general, the rate of diffusion can be postulated as negatively related to _____. A. relative advantage B. compatibility C. trialability D. complexity E. observability
D. complexity
For managers selling capital equipment and big-ticket industrial services, understanding the concept of _____ is absolutely fundamental to their success. A. kinked demand B. full cost pricing C. cost plus pricing D. derived demand E. postponed demand
D. derived demand
The Norton group, a manufacturer of toiletries and cleaning products uses the name Cleanex, for most its products in all of their international markets. The name has created a universal appeal for their products as customers identify their products with the name. Hence, Cleanex can be regarded as a _____. A. retailer's brand B. shelf brand C. store brand D. global brand E. national brand
D. global brand
Adam, a hairstylist at a salon in Seattle, styles his customers in various ways. His work looks different on different people even though he has styled all of them. This unique character of a service that is unique for every customer as it is individually produced is referred to as ______. A. intangibility B. inseparability C. profitability D. heterogeneity E. perishability
D. heterogeneity
Because a service is individually produced and is virtually unique, the service is said to have _____. A. intangibility B. inseparability C. profitability D. heterogeneity E. perishability
D. heterogeneity
According to Everett Rogers, the goals of the diffusion researcher and the marketer are to shorten the time lag between: A. the dispatch of the product from the company and the time it takes to reach the customer. B. the time that a budget is constructed and the time needed for the funds to reach the communication channels. C. initial investment and the profits obtained from those investments. D. introduction of an idea or product and its widespread adoption. E. introduction of an idea or product and when revisions can be made.
D. introduction of an idea or product and its widespread adoption.
Country X is likely to be in the age of mass consumption according to Rostow's five-stage model of economic development if: A. its economy is primarily driven by natural resource extraction. B. the economy is moving away from agriculture and toward manufacturing. C. the economy is driven by low-cost manufacturing. D. it is primarily a service economy. E. its economy is primarily agrarian.
D. it is primarily a service economy.
Martin is comparing the characteristics of his company's water filters with those that are already being marketed in the local market. He realizes that there is lot of scope for his filters as they are functionally more advanced, have longer life, and also can be marketed at a competitive price in these markets. The characteristic of his product that will help in wide acceptance of his product is its _____. A. trialability B. compatibility C. observability D. relative advantage E. complexity
D. relative advantage
As compared to the ISO 9000 standards, the American Customer Satisfaction Index (ACSI) focusses on: A. differentiating a product based on its quality. B. quality based on leadership, strategic planning, and customer and market focus. C. the audit of a company's business processes in order to ensure quality. D. results, that is, quality as perceived by product and service users. E. the existence of a quality control system that can meet published quality standards.
D. results, that is, quality as perceived by product and service users.
The washing machines marketed by Taichi failed in Asian markets as those countries lacked the skills necessary to repair and maintain their products. Also, the washing machines spares available in local markets were not compatible with these machines. This product failure was a result of lack of attention by the company to the _____ component of the product. A. core B. design C. packaging D. support services E. global
D. support services
Fiona asked her product manager for samples to give to potential consumers in Madrid, her new European market. Fiona is trying to reduce the degree of economic and/or social risk, or _____ associated with product use. A. relative advantage B. compatibility C. complexity D. trialability E. observability
D. trialability
Which of the following is characteristic of Stage 2 of Rostow's five-stage model of economic growth? A. Industrial demand is mainly associated with natural resources extraction. B. The goods demanded relate to equipment and supplies to support manufacturing. C. The focus is more on low-cost manufacturing of a variety of consumer and some industrial goods. D. The focus is on design activities and the development of manufacturing techniques. E. Infrastructure development is a primary requirement in the economy.
E. Infrastructure development is a primary requirement in the economy.
Dr. Mark Townes is a dentist practicing in Denver. During a four-day stretch in March, it snowed so heavily that not a single patient was able to visit him. Since all the appointments were missed, he did not make any money for those four days, even though his normal expenses remained. Which of the following characteristics of services is affecting Dr. Townes' business? A. Indivisibility B. Inseparability C. Profitability D. Heterogeneity E. Perishability
E. Perishability
34. _____ is the term used to describe the changes mandated by local product and service standards. A. Product localization B. Product blending C. Product standardization D. Product dilution E. Product homologation
E. Product homologation
Russia and Eastern European countries have been characterized as being in which of the following stages of Rostow's five-stage model of economic growth? A. The traditional society. B. Drive to maturity. C. Preconditions for takeoff. D. The age of mass consumption. E. Takeoff.
E. Takeoff.
Which of the following stages of Rostow's five-stage model of economic growth do highly-industrialized countries like Japan and Germany fit into? A. Traditional society. B. Preconditions to takeoff. C. Takeoff. D. Drive to maturity. E. The age of mass consumption.
E. The age of mass consumption.
Which of the following statements is true of universal standards in the sale of international products? A. The idea of universal standards has been resisted in developing countries. B. Firms that adhere to universal standards find the costs to be greater than the benefits. C. The international market for industrial goods uses the metric system as a universal standard. D. Most governments mandate universal standards. E. The lack of universal standards limits the expansion of an industry.
E. The lack of universal standards limits the expansion of an industry.
Which of the following countries would be characterized as being in Stage 2 of Rostow's five-stage model of economic growth? A. Russia B. Sudan C. South Korea D. Czech Republic E. Vietnam
E. Vietnam
If a company wished to alter a product's platform so that the product could be manufactured in a variety of forms, to meet local differences in five different foreign markets, the _____ of the product component model would be in consideration. A. support services component B. packaging component C. functional component D. global component E. core component
E. core component
The _____ effect refers to the possibility that the place of manufacture may affect product or brand image. A. plus or minus B. polar C. transfer D. alteration E. country-of-origin
E. country-of-origin
The lack of universal standards in the industrial goods market: A. increases market efficiency. B. gives each firm a competitive edge. C. increases the level of consumer satisfaction. D. reduces the prices of the final goods. E. increases the cost of doing business.
E. increases the cost of doing business.
From a sociological viewpoint, any idea perceived as new by a group of people is considered as a(n) _____. A. creation B. adaptation C. ideation D. homologation E. innovation
E. innovation
A product is said to be compatible if: A. it provides greater value to the consumers compared to competitors' products. B. the risk associated with using the product is low. C. it is user friendly. D. it offer clear functional benefits over other products. E. it complies with the accepted norms, values, and culture of the local market.
E. it complies with the accepted norms, values, and culture of the local market.
A product's _____, refers to the ease with which its benefits can be communicated to the customers. A. relative advantage B. compatibility C. complexity D. trialability E. observability
E. observability
Ingrid is developing promotional materials and product demonstrations to easily communicate the benefits of her cleaning products. Ingrid is trying to enhance the _____ of her products. A. relative advantage B. compatibility C. complexity D. complexity E. observability
E. observability
If a company is altering the price of its product to compete with the local companies in the international market, it is focusing on the _____ component of the product, according to the product component model. A. core B. support C. design D. maintenance E. packaging
E. packaging
A characteristic of a service is that it is _____, since it cannot be stored and must be consumed simultaneously with its creation. A. definite B. separable C. heterogeneous D. tangible E. perishable
E. perishable
Nuan, a television manufacturer in Korea, had to modify its televisions before introducing it to the Zimbabwean markets, as the country did not have the skills to repair the product in case of a malfunction. The local salesforce too, did not have the sufficient knowledge regarding the installation of the product. The factor that is influencing product adaptation in the above scenario is ________. A. legal requirements B. climatic requirements C. political requirements D. cultural requirements E. technological requirements
E. technological requirements
The U.S. Congress and businesses have been resisting conversion to the metric system because they fear: A. market competition from international firms already using the metric system. B. consumer backlash and the substitution of international products. C. that it will promote standardization. D. that workers will not understand the system. E. that it will be too costly to implement.
E. that it will be too costly to implement.
