Deck 9: Global Product Services

Question 1

Fade-in/Fade-out and Forewarning are two brand changeover strategies available to the multinational firm. What is the difference between these two strategies?

Answer 1

Not Answer

Question 2

In modifying products for international markets firms may employ a multi-domestic product strategy or a mass customization product strategy. Distinguish between these two alternative strategies.

Answer 2

Not Answer

Question 3

Product modifications are often required when entering foreign markets. One approach is to build country specific product features on a global platform. This strategy is known as _______________ and allows the firm to cater to the needs of customers in various markets while controlling production cost.
(a) Global outsourcing
(b) Mass customization
(c) Multi-domestic production
(d) Cross cultural manufacturing

Answer 3

B

Question 4

________________, the use of brand names which are source and/or target blank may be an effective strategy in transferring brand names across national borders.
(a) Translation
(b) Triangulation
(c) Transliteration
(d) Transparency

Question 5

______________________ is a brand changeover strategy that involves the company informing consumers in advance that their local brand will soon be known by its new global name.
(a) Fade in/Fade out
(b) Summary axing
(c) Forewarning
(d) Transliteration

Question 6

In considering the decision to customize or standardize its products the global marketing firm must consider the nature of the product. Some products such as steel, fertilizer and agricultural equipment tend to be less _________________ than products such as food.
(a) Globalized
(b) Culturally grounded
(c) Price sensitive
(d) Fully adapted

Question 7

Which of the following (if any) is NOT a reason that counterfeit production is problematic for the firm?
(a) Leads to lost sales as authentic products are crowded out of the market by fake products
(b) Results in lost goodwill for the owner of the intellectual property if the product does not perform according to consumer expectations
(c) Increases the firm's cost of operation as resources must be allocated to monitoring and policing the market for pirated products
(d) Dampens the incentive for innovation
(e) Results in the firm's having to choose a more expensive hierarchical entry mode

Question 8

Unlike multi-domestic and mass customization product strategies a global product strategy assumes that the firm is targeting homogeneous customer segments.

Question 9

Identify two strategies open to the firm (i.e. the owner of the intellectual property) to combat the negative impact of counterfeit production.

Question 10

The product modifications firms utilize when entering foreign markets may be classified as either localization or adaptation. What is the difference between these two types of product modification?

Question 11

A number of criteria are used by firms in the screening of new product ideas. Identify three criteria used by firms to screen new product ideas and state why they are important.

Question 12

When a firm develops a drastically simplified version of a product due to lack of purchasing power in a foreign market the process is referred to as:
(a) Forward innovation
(b) Backward innovation.
(c) Reshoring
(d) Outsourcing

Question 13

What is the first step in the process of global product development?
(a) Test marketing the product in various countries around the world
(b) Testing the concept with members of a focus group
(c) Idea creation
(d) Global product launch

Question 14

The factors that drive the need for product adaptation may be classified as:
(a) Country-level drivers
(b) Industry/firm-level drivers
(c) Product-level drivers
(d) All of the above
(e) (a) and (c) only

Question 15

Global, highly standardized products may not appeal very well to any particular consumer segment in any country and are said to be _____________
(a) Off-target
(b) Globally unappealing
(c) Overly standardized
(d) Lacking in cultural homogenization
(e) Misplaced