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

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?

Timing is a very important element in any new product launch. One of the strategies is described as being the ________________ where there is a phased rollout. In this Approach the product uses a trickle down approach.

The chief reason for a company choosing the sprinkler method of new product introduction is to off-set:

During the last decade, car buyers in the Triad markets (Japan, the United States, and Europe) have increasingly begun to have the same outlook and preferences in cars. Which of the following factors that favor globalization of product, would most Accurately be associated with this trend?

The sprinkler strategy of one to two entries (globally) is preferable over the waterfall model when:

Black & Decker is a good example of a company that adopts the _______________ approach to global expansion. The company aims to bring out new products that Cater to common needs and opportunities around the world.

Conjoint analysis is also called tradeoff analysis.

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.

A _________________ country is where a product is first introduced.

Testing objectives, testing marketing mixes, making projections of sales volume, and analyzing potential competitive marketing mixes are all reasons to conduct:

With respect to adoption rates in the international marketplace, it appears to be generally true that adoption rates are higher in ______________ countries than in ____________ countries.

The waterfall model is also called staggered roll-out.

All of the following are steps in the new product development process EXCEPT:

The starting premise of _______________ is that people make trade-offs between the different product attributes when they evaluate alternatives (or brands) from Which they pick a choice.

The sprinkler strategy of one to two entries (globally) is preferable over the waterfall model when all of the following conditions exist EXCEPT:

As a strategy, ____________________ will work when the company targets a "global" segment with similar needs.

The adoption rate for a new product in countries with a homogeneous population is usually faster than in countries with a highly diverse culture. Which of the Following countries would probably have the fastest adoption based on the Information provided above?

Genuinely global marketers try to figure out how to create products with a global scope rather than just for a single country. The mindset is to zero in on global Opportunities. The strategy that best describes this approach is called:

Customization of product has a ______________________ orientation (increase customer satisfaction by adapting products to the local needs).

A _________________ country is where a product is entered after initial introduction has taken place.