Exam 13: Products and Services for Consumers

One variable that affects the rate of diffusion of a product is the actual attributes of the innovation.

What impact has global competition had on business activities in the international marketplace?

Maya was happy that she did not have to read the instruction manual to determine how to turn on her new camera, snap a digital picture, and export the picture to her computer. The signs (symbols) on the camera body made it very clear what she was to do to achieve digital photography success. What characteristic of Maya's "new product" makes it easy for her to begin her digital experience?

If a company wished to alter a product's platform so that the product could be manufactured in a variety of forms to meet local differences in five different foreign markets, the component of the Product Component Model that is most likely to be under consideration is

Cultural barriers play a bigger role in services than in merchandise trade.

AllClean develops promotional materials and product demonstrations to clearly and easily communicate the benefits of its cleaning products. In this scenario, AllClean is attempting to enhance the ________ of its products.

Eugene bought a new watch in January, and by March it stopped keeping time accurately. The warranty was still valid, so he sent it back to the manufacturer for repair. According to the Product Component Model, this demonstrates the ________ component of the product.

Downward Dog Wines had to market its products with a different name in a foreign market as it was mandatory to translate the name into the local language. Which factor has most likely influenced the compulsory change of Downward Dog's product name in the foreign market in this scenario?

A Brazilian food company had to change the labeling on its products to meet the specifications regarding vegetarian and nonvegetarian foods set by the government in the Taiwan market. It also had to mention the ingredients in Taiwanese to provide clarity to local customers. The component of the product that is affected is the ________ component.

A shoe manufacturer in the Philippines shipped its entire production to San Francisco and then brought it back to the Philippines to market it as "Made in the U.S." The manufacturer believed that people would prefer buying products made in the U.S. rather than those domestically produced. The factor that is influencing the perception of the customers in the given scenario is called the ________ effect.

The success achieved by firms when they take their inventions to market is referred to as

A European chocolate manufacturer received several complaints from customers about the quality of its products when it began selling them in a tropical country. The firm had to repackage its chocolate bars with an extra plastic wrapper to protect it from the heat and dust. Which factor in the local market is most likely to have dictated the company's product adaptation in this scenario?

The ________ effect refers to the possibility that the place of manufacture may affect product or brand image.

Bragster Bar, a brand of energy bars in Canada, sells its bars singly or in packs of two in South Asian markets instead of their regular multiple-item packaging that contains 10 or 20 bars. What requirement of the local market most likely influenced Bragster Bar's packaging decision?

In general, the rate of acceptance or resistance of the market to a product is negatively related to

An insurance firm based in California had difficulty expanding its operations to Asian markets as most of the target countries had strict regulations on sharing details about their customers with the home office. The company had to obtain approval from its customers before sharing their personal information with its U.S. office. Which barrier is most likely to have affected the services of the insurance firm?

Consumers have broad but somewhat vague stereotypes about specific countries and specific product categories that they judge "best." Which item would most likely not fit in the "best" stereotype scheme?

In general, the rate of diffusion of a product is negatively related to its relative advantage.

One of the core components in the Product Component Model is the product platform.

What are the five factors that influence product adaptation in new markets?