Exam 18: Global Marketing and RD

The process of identifying distinct groups of consumers whose purchasing behavior differs from others in important ways is known as _____.

The increasing pace of _____ has resulted in a dramatic shortening of product life cycles.

Which of the following is one of the important factors in determining the elasticity of demand for a product in a given country?

In a concentrated retail system, there are many retailers but none of them have a significant share of the market.

A pull strategy should be used when:

Explain the concept of price elasticity of demand. What are its determining factors?

A measure of the responsiveness of demand for a product to change in price is referred to as:

Consumers in the most developed countries are:

In the 1960s, the Swedish vacuum manufacturer Electrolux successfully marketed vacuums in the United Kingdom with the slogan "Nothing sucks like an Electrolux". The informal United States meaning of the word 'sucks' was already well known in the United Kingdom at the time, and the company hoped the slogan, with its possible double entendre, would gain attention. When this slogan was used in the American market, it was a catastrophe. This is an example of _____.

Which of the following is an advantage of establishing cross-functional product development teams?

An increase in car ownership, the number of two-income households, and the number of households with a refrigerator have all contributed to the more fragmented retail system found in developed countries.

A _____ retail system is one in which there are many retailers, no one of which has a major share of the market.

If a firm manufactures its product in a particular country, it can sell directly to the consumer, to the retailer, or to the wholesaler. The same options are not available to a firm that manufactures outside the country.

What factors affect the rate of new-product development in countries?

To overcome cultural barriers, companies should:

A(n) _____ distribution channel is one that is difficult for outsiders to access.

Discuss the role of technology in new-product development, including the concept of "creative destruction."

What are the four main differences between distribution systems across countries?

The way a product is delivered is determined by the _____.

_____ refers to the expertise, competencies, and skills of established retailers in a nation, and their ability to sell and support the products of international businesses.