Question 1

Timing is a very important element in any new product launch.One of the strategies is described as being the _____.This method often involves introducing the new product in the company's home market and then moving to other advanced markets.Finally, less advanced markets are exposed to the product.

Accepted Answer

The correct strategy described is the "waterfall method." This approach involves a sequential product launch, starting in the company's home market before gradually expanding to other, more advanced markets, and finally reaching less advanced markets. This method contrasts with the "sprinkler method," which involves launching a product simultaneously in various markets.

Question 2

Truly global innovators are called:

Accepted Answer

Metanational innovators are companies or individuals that leverage knowledge and innovation from around the globe to create competitive advantages. They are not confined to the innovation capabilities or knowledge bases of their home countries but instead tap into the global pool of ideas, skills, and technologies.

Question 3

Via the _____, there is a simultaneous introduction of products in other markets of the world.

Accepted Answer

The sprinkler strategy involves launching a product in multiple international markets simultaneously, aiming for rapid market penetration and global presence.

Question 4

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

Accepted Answer

The sprinkler strategy is less preferable when there are very weak local competitors, as the urgency to enter multiple markets simultaneously is reduced.

Question 5

A sophisticated method (sometimes called trade-off analysis) for measuring consumer preferences for product concepts is called:

Accepted Answer

Conjoint analysis is a statistical technique used in market research to determine how people value different features that make up an individual product or service. It is often used to measure consumer preferences for product concepts, making it the correct choice.

Question 6

Starbucks expects China to become its biggest market.

Accepted Answer

Starbucks has expressed expectations for China to surpass the United States as its largest market, due to rapid expansion and a growing coffee culture in China.

Question 7

If a consumer considered four attributes to be important in the purchase of a TV, by using _____ the researcher might be able to determine the trade-offs between the different product attributes (such as purchase price or number of channels that could be received) when the consumer evaluated the alternatives for eventual purchase.

Accepted Answer

Conjoint analysis is specifically designed to understand how consumers evaluate the importance of different attributes (such as price, channels, size, etc.) when making purchasing decisions. It helps in determining the trade-offs consumers are willing to make between different product attributes.

Question 8

Historically, U.S.car sales in Japan have been fairly well.

Accepted Answer

Historically, U.S. car sales in Japan have been relatively low due to various factors such as Japan's preference for smaller vehicles, trade barriers, and differences in safety and emission standards.

Question 9

The waterfall strategy of sequential entry is preferable over the sprinkler model when:

Accepted Answer

The waterfall strategy is preferable when there are weak local competitors because it allows a company to enter markets sequentially, focusing resources and efforts on one market at a time, which is advantageous when facing less competition.

Question 10

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

Accepted Answer

To harvest the benefits of metanational innovators, a company must focus on prospecting (identifying global opportunities), assessing (evaluating these opportunities), and mobilizing (leveraging resources to capture value from these opportunities).

Question 11

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

Accepted Answer

The sprinkler strategy is often used when fast growth is anticipated, allowing a company to quickly enter multiple markets to capitalize on the rapid expansion. This contrasts with the waterfall model, which involves entering markets sequentially and might be too slow in situations where speed is crucial.

Question 12

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

Accepted Answer

The sprinkler method of new product introduction involves launching a product in several markets simultaneously to off-set competitive preemption. This strategy is used to quickly capture market share before competitors can respond effectively.

Question 13

The waterfall strategy of sequential entry is preferable over the sprinkler model when all of the following conditions exist except:

Accepted Answer

The waterfall strategy is preferable when the product lifecycle is long, entry costs are high, and competition is weak or nonexistent. However, if fast growth is anticipated, the sprinkler model might be more suitable to quickly capture market share.

Question 14

Countries exhibiting a slow takeoff and limited influence on other countries, but susceptible to foreign influences are ideal for later entry.In Asia, a country that does not meet this profile is:

Accepted Answer

Japan does not fit the profile of a country with a slow takeoff and limited influence on other countries. It is a highly developed country with significant global influence, both economically and culturally.

Question 15

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.

Accepted Answer

Conjoint analysis is a statistical technique used in market research to determine how people value different attributes (feature, function, benefits) that make up an individual product or service. This approach is based on the idea that the attributes of products or services are valued differently by consumers, and they make trade-offs between these attributes when making purchasing decisions.

Question 16

Conjoint analysis is also referred to as _____.

Accepted Answer

Conjoint analysis is often called trade-off analysis because it involves understanding how consumers make trade-offs between different product attributes or features when making purchasing decisions.

Question 17

If a company wishes to test market the product in a small, highly innovative country, the best choices would not be:

Accepted Answer

The U.S. is not considered a small country, making it less suitable for a test market aimed at small, highly innovative countries. Sweden, Switzerland, the Netherlands, and South Korea are all relatively small and known for their innovation, making them more appropriate choices for this purpose.

Question 18

_____ are not always desirable; in many industries, consumers don't want to be left behind.

Accepted Answer

Staggered rollouts, where a product or service is released in phases over time, might not always be desirable in industries where consumers are eager to have the latest version or feature and do not want to wait for their turn in the rollout schedule.

Question 19

With the approach known as _____, there is a phased rollout.

Accepted Answer

The waterfall method is a phased rollout approach, where the project is divided into smaller phases, and each phase is completed before moving on to the next.

Question 20

A prime motive for the waterfall model (in introducing new products on a global scale) is that adaptation of the marketing strategy for the host market is:

Accepted Answer

The answer of A prime motive for the waterfall model...

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