Question 1

In these days,many MNCs create organizational structures to foster global product
development.

Accepted Answer

Many multinational corporations (MNCs) create global product development structures to enable collaboration and innovation across different regions and markets.

Question 2

A truly global innovators are called metanational innovators.

Accepted Answer

Metanational innovators are those who operate across multiple countries and cultures, and are able to leverage the diversity of markets and knowledge to create breakthrough innovations that have a worldwide impact.

Question 3

In general,the adoption of new products is driven by individual differences,personal
influences,and product characteristics.

Accepted Answer

This statement is true. The adoption of new products is influenced by individual differences such as personality, lifestyle, and values, personal influences such as family, friends, and social networks, and product characteristics such as relative advantage, compatibility, complexity, trialability, and observability.

Question 4

With respect to categories of consumers that adopt new products,the __________
category is eager to experiment with new ideas or products.

Accepted Answer

The answer of With respect to categories of consumers that...

Question 5

Conjoint analysis is also called tradeoff analysis.

Accepted Answer

Conjoint analysis is a popular technique used in market research to measure consumer preferences and tradeoffs between different attributes of a product or service. It is often referred to as tradeoff analysis because it asks participants to make choices between different product profiles that vary in their attributes (e.g. price, features, brand). By analyzing the tradeoffs that participants make, researchers can gain insights into which attributes are most important to consumers and how they prioritize them.

Question 6

List the forces that now favor a globalized product design strategy.

Accepted Answer

The answer of List the forces that now favor a...

Question 7

List the strategic options available to the firm considering global expansion in the product area.Detail the conditions that make the strategic option favorable.Be sure to detail your answer.

Accepted Answer

The answer of List the strategic options available to the...

Question 8

Five forces favor a globalized product strategy.These include: common customer
needs,global customers,scale economies,time to market,and__________________.

Accepted Answer

The answer of Five forces favor a globalized product strategy.These...

Question 9

Many companies add brands to their product portfolio via acquisitions of local brands.

Accepted Answer

This is a common strategy for companies to expand their reach into different markets and gain access to established brands with loyal customer bases.

Question 10

In the area of a global product launch strategy,two strategic options available are:
waterfall strategy and _________________________.

Accepted Answer

The answer of In the area of a global product...

Question 11

In marketing,new product ideas do not come from the company,customers,
competition,and collaborators.

Accepted Answer

New product ideas in marketing can indeed come from various sources including the company itself, customers, competition, and collaborators. These stakeholders can provide valuable insights and ideas for new products.

Question 12

____________________ leverages cross-border differences in needs and wants of
the firm's target customers.

Accepted Answer

The answer of ____________________ leverages cross-border differences in needs and...

Question 13

There are strategic options that allow firms to modify their product while keeping most of the benefits of following a uniform product policy.Explain the differences between the modular and core-product approaches.

Accepted Answer

The answer of There are strategic options that allow firms...

Question 14

The goal of standardization is to minimize competition.

Accepted Answer

The goal of standardization is to ensure consistency and compatibility among products, services, or systems. It aims to facilitate cooperation and collaboration among different entities by defining common requirements, specifications, and procedures. Standardization can actually enhance competition by creating a level playing field for all participants, reducing barriers to entry, and increasing transparency and trust in the market.

Question 15

The lead country is where the product is introduced first.

Accepted Answer

This statement is true. The lead country is usually where the product is first launched or introduced to the market.

Question 16

Test marketing is considered a critical step in new product development in most Western countries.Comment on test marketing.Also,outline some of the shortcomings of test marketing?

Accepted Answer

The answer of Test marketing is considered a critical step...

Question 17

The waterfall model is also called staggered roll-out.

Accepted Answer

The waterfall model is a linear sequential approach to software development and does not involve a staggered roll-out.

Question 18

Differences in both the cultural and physical environment across countries call for
a ________________________ strategy.

Accepted Answer

The answer of Differences in both the cultural and physical...

Question 19

_________________ means offering a uniform product on a regional or worldwide
basis.

Accepted Answer

The answer of _________________ means offering a uniform product on...

Question 20

Overstandardization is a risk of the core-product approach to introducing new
products in the world market.

Accepted Answer

Overstandardization can occur when a company uses a core-product approach to product development and applies the same standards and features across different markets, without taking into account local preferences and needs. This can lead to a lack of adaptation to specific market conditions and customer demands, and result in lower sales and reduced competitiveness.

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

In these days,many MNCs create organizational structures to foster global product development.

A truly global innovators are called metanational innovators.

In general,the adoption of new products is driven by individual differences,personal influences,and product characteristics.

With respect to categories of consumers that adopt new products,the __________ category is eager to experiment with new ideas or products.

Conjoint analysis is also called tradeoff analysis.

List the forces that now favor a globalized product design strategy.

List the strategic options available to the firm considering global expansion in the product area.Detail the conditions that make the strategic option favorable.Be sure to detail your answer.

Five forces favor a globalized product strategy.These include: common customer needs,global customers,scale economies,time to market,and__________________.

Many companies add brands to their product portfolio via acquisitions of local brands.

In the area of a global product launch strategy,two strategic options available are: waterfall strategy and _________________________.

In marketing,new product ideas do not come from the company,customers, competition,and collaborators.

____________________ leverages cross-border differences in needs and wants of the firm's target customers.

There are strategic options that allow firms to modify their product while keeping most of the benefits of following a uniform product policy.Explain the differences between the modular and core-product approaches.

The goal of standardization is to minimize competition.

The lead country is where the product is introduced first.

Test marketing is considered a critical step in new product development in most Western countries.Comment on test marketing.Also,outline some of the shortcomings of test marketing?

The waterfall model is also called staggered roll-out.

Differences in both the cultural and physical environment across countries call for a ________________________ strategy.

_________________ means offering a uniform product on a regional or worldwide basis.

Overstandardization is a risk of the core-product approach to introducing new products in the world market.