Question 1

Globalization has resulted in reduced choice for consumers around the globe.

Accepted Answer

True

Question 2

With a straight extension strategy, a company has to make changes to both the product and its promotional strategy when it enters a new country.

Accepted Answer

A straight extension strategy involves marketing an unchanged product and promotional strategy in a new market, without making modifications.

Question 3

For a fast food business that is looking to go global, a product adaptation strategy is necessary when local preferences in a foreign country are different to those in its home country.

Accepted Answer

Developing a product adaptation strategy is necessary when expanding a fast food business globally because local preferences may differ from the preferences of the business's home country. Adapting products to meet local preferences can help the business gain acceptance in new markets and increase its success.

Question 4

Cross-cultural literacy is an understanding of how cultural differences across and within nations can affect the way in which business is practiced.

Accepted Answer

Cross-cultural literacy involves understanding and navigating cultural differences in business practices.

Question 5

Base of the pyramid refers to the core industries and businesses that keep the economy going.

Accepted Answer

The term "base of the pyramid" actually refers to the largest, but poorest socio-economic group in the world, consisting of about 4 billion people who live on less than $2.50 per day.

Question 6

_________ is the introduction of a product into a foreign market without any change to the product itself or the promotion campaign.
A) Straight extension
B) Product adaptation
C) Promotion adaptation
D) Product extension

Accepted Answer

Straight extension refers to introducing a product into a foreign market without making any changes to the product itself or the promotion campaign. This approach is often used when the company believes that the product will appeal to consumers in the foreign market without any modifications.

Question 7

_________ is the development of a new product to meet the local conditions or preferences.
A) Product invention
B) Dual adaptation
C) Product adaptation
D) Global innovation

Accepted Answer

Product invention involves creating a completely new product to cater to the specific needs or preferences of a local market.

Question 8

_________ is an altering of the product to meet local conditions or preferences, but the general promotion campaign remains basically the same.
A) Communication Adaptation
B) Straight Extension
C) Dual Adaptation
D) Product Adaptation

Accepted Answer

Product adaptation involves altering the product to meet local conditions or preferences while keeping the general promotion campaign mostly the same. Communication adaptation involves changing the promotion campaign to fit local preferences, while straight extension involves offering the same product and promotion in different markets without any changes. Dual adaptation involves both altering the product and the promotion campaign to fit local preferences.

Question 9

The base of the pyramid concept refers to:
A) People who have the least wealth
B) People who have the most wealth
C) People who have the highest education
D) People who have physiological needs

Accepted Answer

The base of the pyramid concept typically refers to the largest, but poorest socio-economic groups. In the context of global economy, it's the vast majority of people who live on very little money per day.

Question 10

The idea that firms may need to change celebrity endorsers as part of their global marketing strategy fits mostly within ___________ strategies.
A) Global advertising
B) Communication adaptation
C) Celebrity endorser
D) Promotional messaging

Accepted Answer

Communication adaptation involves adjusting marketing communication elements to fit the cultural, linguistic, and other characteristics of a target market. Changing celebrity endorsers to better resonate with local consumers is an example of communication adaptation. Global advertising involves creating a standardized advertising campaign that can be used across multiple countries, but changing celebrity endorsers would not fit within this strategy if the same celebrity is used in all markets. The celebrity endorser strategy is focused specifically on using celebrity endorsements to build brand equity. Promotional messaging refers to the content and messaging in a promotional campaign and does not necessarily involve the selection or use of celebrity endorsers.

Question 11

Colors and numbers are associated with:
A) the Language of Time.
B) the Language of Agreements.
C) the Language of Space.
D) Silent Language.

Accepted Answer

Silent Language refers to non-verbal communication, which can include associations like colors and numbers.

Question 12

How contractual arrangements differ across regions of the World is an illustration of the:
A) the Language of Agreements.
B) the Language of Friendships.
C) the Language of Space.
D) the Language of Time.

Accepted Answer

The Language of Agreements refers to how contractual arrangements, including their structure, terminology, and enforceability, vary across different cultures and legal systems around the world.

Question 13

Which of the following are factors to consider when launching a product globally?
A) Channel Parameters
B) Country Mores
C) Language and Colloquialisms
D) All of the above

Accepted Answer

When launching a product globally, it is important to consider a variety of factors including channel parameters such as distribution channels and regulations, country mores such as cultural norms and customs, and language and colloquialisms to ensure effective communication with the target audience. Therefore, all of the above factors should be taken into consideration.

Question 14

The fact that different parts of the world use different electrical voltage is an example of:
A) Channel Parameters
B) Country Mores
C) Language and Colloquialisms
D) Technology Infrastructure

Accepted Answer

The use of different electrical voltage is related to the technology infrastructure of a country or region. It is not related to channel parameters, country mores, or language and colloquialisms.

Question 15

The balancing of economic, environmental, and social aspects in the creation of products and service defines:
A) Global Product Development
B) Base of the Pyramid Product Development
C) Sustainable Product Development
D) Trans-technological Product Development

Accepted Answer

Sustainable Product Development involves the consideration of economic, environmental, and social aspects in the creation of products and services. This approach aims to minimize negative impacts on the environment and society while ensuring economic viability. Global Product Development refers to the development of products for the global market, while Base of the Pyramid Product Development focuses on creating products for low-income populations. Trans-technological Product Development refers to the integration of different technologies to create new products.

Quiz 12: Global Product Management

Globalization has resulted in reduced choice for consumers around the globe.

With a straight extension strategy, a company has to make changes to both the product and its promotional strategy when it enters a new country.

For a fast food business that is looking to go global, a product adaptation strategy is necessary when local preferences in a foreign country are different to those in its home country.

Cross-cultural literacy is an understanding of how cultural differences across and within nations can affect the way in which business is practiced.

Base of the pyramid refers to the core industries and businesses that keep the economy going.

_________ is the introduction of a product into a foreign market without any change to the product itself or the promotion campaign.

_________ is the development of a new product to meet the local conditions or preferences.

_________ is an altering of the product to meet local conditions or preferences, but the general promotion campaign remains basically the same.

The base of the pyramid concept refers to:

The idea that firms may need to change celebrity endorsers as part of their global marketing strategy fits mostly within ___________ strategies.

Colors and numbers are associated with:

How contractual arrangements differ across regions of the World is an illustration of the:

Which of the following are factors to consider when launching a product globally?

The fact that different parts of the world use different electrical voltage is an example of:

The balancing of economic, environmental, and social aspects in the creation of products and service defines: