Question 1

The textbook discusses four different ways of developing a global product policy, all of which are generally considered an effective means to streamline manufacturing except:

Accepted Answer

The answer of The textbook discusses four different ways of...

Question 2

One of the real sources of Japanese inspiration and competitiveness is that they excel in the management of the _____ interface.

Accepted Answer

The Japanese are particularly known for excelling in the management of the marketing/R&D (Research and Development) interface, which allows for effective product development and innovation strategies that are closely aligned with market needs and trends.

Question 3

Which of the following is one of the four ways of developing a global product policy to streamline manufacturing (thus lowering manufacturing cost without sacrificing marketing flexibility)?

Accepted Answer

Core component standardization is a strategy for developing a global product policy that involves using common components across different product versions to streamline manufacturing and reduce costs, while still allowing for some customization to meet local market needs.

Question 4

Research has shown that the marketplace has become a virtual _____ for Japanese companies to gain production and marketing experience, as well as to perfect technology.

Accepted Answer

The answer of Research has shown that the marketplace has...

Question 5

Jollibee Foods, a family-owned fast food company is from:

Accepted Answer

Jollibee Foods is a fast food company that originated in the Philippines.

Question 6

A _____ is where unique local competition is nurturing product and service standards to be adopted by the rest of the world over time.

Accepted Answer

A lead market is a region or country that adopts new products or technologies earlier than other markets, setting trends that are eventually followed globally. This concept is based on the idea that certain markets have characteristics that make them more innovative or receptive to new ideas, leading to the development and refinement of products and services that are later adopted worldwide.

Question 7

In the area of _____ product with different positioning, a _____ product can be developed with different market segments in mind.

Accepted Answer

The answer of In the area of _____ product with...

Question 8

Bajaj is an Indian _____ manufacturer.

Accepted Answer

Bajaj is well-known as an Indian scooter manufacturer, producing popular models like the Bajaj Chetak.

Question 9

Seiko, a Japanese watchmaker, offers a wide range of designs and models, but they are based on only a handful of different operating mechanisms.This would be an example of which of the global product policies listed below?

Accepted Answer

The answer of Seiko, a Japanese watchmaker, offers a wide...

Question 10

A key to pursuing a product policy of product design families (or product design standardization) lies in:

Accepted Answer

Standardization of components and basic designs allows for a more streamlined and efficient production process, which is essential in pursuing a product policy of product design families or product design standardization. This approach enables easier scalability, interchangeability, and cost reduction in manufacturing.

Question 11

Honda markets the Honda Accord around the world by positioning it differently from country to country.The car, however, is almost identical no matter which market it is sold in.This would be an example of which of the following product policy options?

Accepted Answer

This is an example of a universal product with different positioning, where the product itself remains largely unchanged across different markets, but the way it is marketed or positioned varies to cater to the preferences or expectations of consumers in each country.

Question 12

Regional strategies can be defined as the _____ in pursuit of regional production, branding, and distribution advantages.

Accepted Answer

Cross-subsidization of market share battles refers to using profits from one region to support competitive strategies in another, aligning with regional strategies for production, branding, and distribution.

Question 13

Toyota Motor Company offers several car models based on a similar family design concept, ranging from Lexus models to Toyota Avalon, Camrys, and Corollas.This is an example of:

Accepted Answer

This is an example of product design families, where different products (in this case, car models) are developed based on a similar design concept, allowing for brand consistency and economies of scale in production.

Question 14

Successful _____ policy requires development of universal products, or products that demand no more than a cosmetic change for adaptation to differing local needs and use conditions.

Accepted Answer

Successful global product policy involves creating products that can be used worldwide with minimal adjustments, which aligns with the description given.

Question 15

Japanese consumers fond of high-tech gadgets may even set the world standard for gas pumps that come equipped with online service that offer motorists access to weather forecasts and traffic information.This is an example of a:

Accepted Answer

This is an example of a lead market, where consumer preferences and technological advancements drive the development of new products or services that may set global standards.

Question 16

Lead markets represent countries where innovations in particular industries are prone to take place.All of the following are examples of lead countries except:

Accepted Answer

Canada is not typically recognized as a lead market for computer hardware. The United States, Japan, and other countries are more traditionally associated with significant innovations in this sector.

Question 17

All of the following are examples of global product policies except:

Accepted Answer

Core component miniaturization is not a global product policy but rather a design or manufacturing strategy focused on making components smaller for various reasons, such as saving space or reducing costs, and does not directly relate to global marketing strategies.

Question 18

Multinational firms using profit gained in a market where they have a strong competitive position to beef up their competitive position in a weak market is referred to as the:

Accepted Answer

This strategy is known as cross-subsidization of markets. It involves using profits from one market to support competitive actions in another market where the firm is not as strong.

Question 19

Electrolux, a Swedish appliance manufacturer, has adopted which of the following product policies when offering different products under four different brand names, but using the same basic designs?

Accepted Answer

Electrolux uses the strategy of product design families by offering different products under various brand names while utilizing the same basic designs. This approach allows for brand differentiation while maintaining efficiencies in production and design.

Question 20

When a universal product is developed with different market segments in mind, it is an example of which of the following product policies?

Accepted Answer

A universal product developed with different market segments in mind is positioned differently for each segment, making it a universal product with different positioning.

Quiz 8: Global Marketing Strategies