Exam 10: Global Product Policy Decisions I: Developing New Products for Global Markets

List the strategic options available to the firm considering global expansion in the product area.Detail the conditions that make the strategic option favorable.Be sure to detail your answer.

In the area of global product policy,companies can pursue three strategies to penetrate foreign markets.The strategies include:

All of the following are factors that affect product penetration in the European market (according to a recent survey),EXCEPT:

One attempt to combine the strengths of standardization and customization of products is to deal with both issues as functions of product design.The _______________ approach consists of developing a range of product parts that Can be used worldwide.The parts can be assembled into numerous product Configurations.

In general,the rate of adoption of new products (in foreign markets)is driven by individual differences,personal influences,and:

If a company were to follow a strategy of product extension-communications adaptation in a foreign market,an example of a product category that would Fit this strategy would be __________________.

With respect to categories of consumers that adopt new products,the __________ category is eager to experiment with new ideas or products.

In the area of a global product launch strategy,two strategic options available are: waterfall strategy and _________________________.

Overstandardization is a risk of the core-product approach to introducing new products in the world market.

Which of the following is NOT one of the strategic options available to the marketing planner,considering various product policies that could be devised for the International marketplace?

A phased rollout is less demanding on the company resources whereas ____________________ are not always acceptable.

Which of the following are among the best sources for finding new product ideas?

All of the following are factors that favor a globalized product strategy EXCEPT:

Ikea,the Swedish furniture chain,insists that all its stores carry the basic product line with little room for adaptation to local tastes.If research of the U.S.market Showed that Americans preferred larger beds than their Swedish counterparts,which Of the following strategies would be advisable to Ikea?

One of the disadvantages that a global marketer may have is ___________________. This would occur when too much standardization stifles initiative and experimentation At the local level.

If prospective customers are contacted and shown commercials for the new product and existing brands (then asked to state attitudes and preferences of what They have seen),then the marketing research entity will probably have conducted A(n)__________________ instead of a full test market.

With respect to product design strategies,the ___________________ approach is very popular with the French carmaker Renault.They use common core-products But customize them in each market (such as making stronger heaters for the Nordic Market).

__________________ means offering a uniform product on a regional or worldwide basis (only minor alterations are made to meet local standards).

In general,the adoption of new products is driven by factors such as:

Test marketing is considered a critical step in new product development in most Western countries.Comment on test marketing.Also,outline some of the shortcomings of test marketing?