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

Standardization of product has a __________________ orientation (lower costs via mass production).

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 mostly uniform core- Product/platform and then adding attachments that match local market needs.

The biggest savings to the company when following a strategy of dual extension is in economies of scale.

A(n) ________________ is essentially a field experiment where the new product is marketed in a select set of cities to assess its sales potential and scores of other Performance measures.

Differences in both the cultural and physical environment across countries call for a _________________________ strategy.

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

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

___________________ are always eager to experiment with new ideas and products.

In a ______________________, scale economies flow from the mass production of more-or-less standard product components at a few manufacturing sites.

The goal of standardization is to minimize competition.

Is the product consistent with exiting values and attitudes of the individuals in the social system, would be a question that best fits with which of the following Key product characteristics acceptance categories?

List the forces that now favor a globalized product design strategy.

To harvest the benefits of metanational innovators, a company must pursue three things:

When the Wrigley chewing gum company markets its basic products abroad, it keeps its well-known brands but customizes promotional approaches in individual Countries. Which of the following strategies best describes the strategy that Wrigley is following?

In marketing, new product ideas do not come from the company, customers, competition, and collaborators.

Because of their universally known products, the Wrigley chewing gum company can use product adaptation-communications extension strategies effectively.

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

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 a company were to follow a strategy of product and communications adaptation (dual adaptation) in a foreign market, an example of a product category that Would fit this strategy would be __________________.

The prime motive for the waterfall model (in introducing new products on a global scale) is that the customization of the product for the foreign market is: