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

Many companies add brands to their product portfolio via acquisitions of local brands.

Timing is a very important element in any new product launch. One of the strategies is described as being the ________________. This method often involves introducing The new product in the company's home market and then moving to other advanced Markets. Finally, less advanced markets are exposed to the product.

A sophisticated method (sometimes called trade-off analysis) for measuring consumer preferences for product concepts is called:

The lead country is where the product is introduced first.

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?

The adoption rate for new products in countries with a ________________ population is usually faster than in countries with a highly diverse culture.

_________________ means offering a uniform product on a regional or worldwide basis.

Truly global innovators are called:

Early market entrants often choose dual extension (product and communication extension) as a strategy to enter markets with new products.

Local market circumstances do not favor the case of product adaptation.

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?

In these days, many MNCs create organizational structures to foster global product development.

If a consumer considered four attributes to be important in the purchase of a TV, by using ________________ the researcher might be able to determine the trade-offs Between the different product attributes (such as purchase price or number of channels That could be received) when the consumer evaluated the alternatives for eventual Purchase.

Once new product ideas have been identified, the next logical step is to have the ideas _______________.

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).

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

A truly global innovators are called metanational innovators.

Many companies add brands to their portfolio via acquisitions of local companies. When the local brand is retained but incorporated into the existing communications Strategy, the strategy can be described as being one of:

The biggest advantage of a product and communication extension--dual extension policy is:

Due to differences in the cultural or competitive environment, a company may choose the _______________________ strategy if it wishes to keep its product economies Scale intact but customize its communications.