Question 1

The brand mark is the vocalizable part of the brand,the brand name the nonvocalizable part.

Accepted Answer

The statement is incorrect. The brand mark is the nonvocalizable part of the brand, while the brand name is the vocalizable part that can be spoken aloud.

Question 2

Most companies aim for consistency in their marketing efforts.An example of where consistency may be easy to achieve in international markets is in the area of warranties.

Accepted Answer

Consistency in international marketing efforts can be challenging due to varying laws, cultural expectations, and consumer rights in different countries, making uniform warranties difficult to implement.

Question 3

In order to differentiate a product,a marketer tries to highlight the similarities it has with products in the same class so as to highlight the likenesses of each.

Accepted Answer

In order to differentiate a product, a marketer tries to highlight the unique features and differences it has from products in the same class, not the similarities. By highlighting the distinguishing characteristics, the product stands out and has a better chance of attracting consumers.

Question 4

Product warranties can be effective promotional tools.

Accepted Answer

Product warranties can provide peace of mind to customers and increase their confidence in purchasing a product, leading to increased sales and brand loyalty.

Question 5

The core of a firm's international operations is pricing.

Accepted Answer

Pricing is an important aspect of a firm's international operations, but it is not the core. The core of a firm's international operations is its strategy which includes product development, market analysis, distribution channels, and branding. Pricing is just one element of the overall strategy.

Question 6

Color plays an important role in the way consumers perceive a product.They communicate in a subtle way in developed societies; they have direct meaning in more traditional societies.

Accepted Answer

Colors have a more symbolic meaning in traditional societies, while in developed societies they can communicate more subtly and may have different connotations depending on the context.

Question 7

The main goal of the product development process is to develop a standard product or product line.

Accepted Answer

The main goal of the product development process is to create a product or product line that meets the needs of the target market and generates profits for the company, while also taking into account factors such as technical feasibility and competitive advantage. This may result in a standard product or product line, but it is not the main goal.

Question 8

Adaptation decisions are made to enhance the exporter's competitiveness in the marketplace.

Accepted Answer

Adaptation decisions are made to adjust and customize the exporter's product, marketing mix, and business practices to better fit the target market's needs and preferences. This improves the exporter's competitiveness and market share in the target market.

Question 9

Reverse innovation is when a company produces a drastically simplified version of a product due to lack of purchasing power or usage conditions.

Accepted Answer

Reverse innovation is defined as the process of developing low-cost products or services for emerging economies, but these products may also be simpler or modified versions of existing products due to factors such as lack of purchasing power or usage conditions in those markets.

Question 10

The Trademark Counterfeiting Act of 1984 made trading in goods and services using a counterfeit trademark a civil rather than a criminal offense.

Accepted Answer

The Trademark Counterfeiting Act of 1984 made trading in goods and services using a counterfeit trademark a criminal offense, punishable by fine and/or imprisonment.

Question 11

Nontariff barriers include product standards,testing or approval procedures,subsidies for local products,and bureaucratic red tape.

Accepted Answer

Nontariff barriers refer to any trade barriers other than tariffs, such as product standards, testing or approval procedures, subsidies for local products, and bureaucratic red tape. These barriers can make it difficult or costly for foreign companies to compete in a domestic market.

Question 12

When the country of origin does matter to consumers,it is in the exporter's best interest to monitor consumers' perceptions.

Accepted Answer

If the country of origin matters to consumers, it can affect their purchasing decisions and perceptions of the product's quality, safety, and authenticity. Exporters should pay attention to these perceptions, and monitor and respond to any negative feedback to protect their brand reputation and maintain customer loyalty.

Question 13

The characteristics and behavior of intended customer groups are as important as governmental influences on the product adaptation decision.

Accepted Answer

Understanding the characteristics and behavior of intended customer groups is crucial in deciding how the product should be adapted for a particular market. Governmental influences can also play a role, but they are not the only determining factor in this decision.

Question 14

The value of brands can be seen on balance sheets.

Accepted Answer

Brands are considered intangible assets and are not typically listed on balance sheets unless they have been acquired and have a measurable value.

Question 15

The practice of product counterfeiting has spread to high-technology products and services from the traditionally counterfeited products: high-visibility,strong-brand-name consumer goods.

Accepted Answer

This statement is true. Product counterfeiting has extended beyond traditional consumer goods to include high-tech products and services.

Question 16

Industrial products tend to be more shielded from cultural influences than consumer durables.

Accepted Answer

Industrial products are often purchased based on technical specifications and performance rather than cultural preferences or trends. Consumer durables, on the other hand, may be influenced by cultural influences and personal tastes.

Question 17

Positioning is the physical space a product assumes on a store shelf,and companies pay huge sums of money to have their products first in line.

Accepted Answer

Positioning refers to the place a brand or product occupies in the minds of customers and how it is distinguished from the products of competitors, not its physical location on a shelf.

Question 18

Consumer nondurables,such as food products,generally show the highest amount of sensitivity toward differences in national tastes and habits.

Accepted Answer

Consumer nondurables, such as food products, are highly consumed and their taste preferences and habits vary a lot across different countries, resulting in higher sensitivity towards differences in national tastes and habits.

Question 19

The more exporters learn about local market characteristics in individual markets,the more they are able to establish similarities and,as a result,customize their marketing approach,especially across similar markets.

Accepted Answer

Learning about local market characteristics helps exporters identify differences and tailor their marketing strategies to meet specific local needs, rather than finding similarities.

Question 20

Making a profit is the key to successful marketing.

Accepted Answer

Successful marketing involves understanding and meeting the needs and desires of customers, building strong brand awareness, and creating value, not just making a profit.

Quiz 11: Product Management and Global Brands