Question 1

The corporate development team at Virgin evaluates more than a dozen proposals each day from outside and within the company.When assessing new-product ideas,they look for all of the following except:

Accepted Answer

The correct answer is E because the corporate development team at Virgin would prioritize factors directly related to their brand's values, financial viability, and market potential of new-product ideas. Aesthetic attributes of competitors' products are less relevant compared to synergy with existing products, pricing and ROI, marketing opportunities, and the impact on the Virgin brand.

Question 2

Describe the factors that should be considered in developing new products for international markets with particular emphasis on the consequences for not adequately testing new products.

Accepted Answer

The answer of Describe the factors that should be considered...

Question 3

What is the significance of innovation in global marketing? Describe different categories of innovation with examples.

Accepted Answer

The answer of What is the significance of innovation in...

Question 4

Most new products fall into the category described as:

Accepted Answer

Most new products are considered continuous innovations, which involve minor improvements or simple changes to existing products without altering consumer behavior significantly.

Question 5

By definition,a ________ requires a large amount of learning on the part of users and typically creates new markets and consumption patterns.

Accepted Answer

Discontinuous innovation involves products or services that fundamentally change the market or create entirely new markets, requiring users to learn a lot in order to adapt to or adopt the innovation.

Question 6

The introduction of consumer VCRs in the late 1970s initiated a revolutionized in-home electronic entertainment.For example,assuming the user could learn to set the timer,he or she could tape programs to watch at a later time.The VCR's popularity also gave rise to an entirely new retailing concept,the video rental store.What type of innovation did the consumer VCR represent?

Accepted Answer

The consumer VCR represented a discontinuous innovation because it introduced a new way of consuming media that significantly changed consumer habits and created new industries, such as video rental stores.

Quiz 10: Brand and Product Decisions in Global Marketing

The corporate development team at Virgin evaluates more than a dozen proposals each day from outside and within the company.When assessing new-product ideas,they look for all of the following except:

Describe the factors that should be considered in developing new products for international markets with particular emphasis on the consequences for not adequately testing new products.

What is the significance of innovation in global marketing? Describe different categories of innovation with examples.

Most new products fall into the category described as:

By definition,a ________ requires a large amount of learning on the part of users and typically creates new markets and consumption patterns.