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

_____ are people who look beyond their immediate social surroundings and are not local in their opinions.

The _____ stage is the one indicated by the first large jump in sales of the new product innovation.

Lowering marketing and distribution costs are in many cases the key drivers behind standardization moves.

A uniform product policy capitalizes on the commonalities in customers' needs across countries.The goal is to:

Not all new product ideas are winners.

To what extent does the new product offer more perceived value to potential adopters than exiting alternatives, would be a question that best fits with which of the following key product characteristics acceptance categories?

When Kellogg Co.first marketed its flagship Corn Flakes brand in South Africa, the company encountered a major problem.Many South Africans, accustomed to hot porridge for breakfast, had no idea how to prepare corn flakes.What did Kellogg do?

One study explored the dilemma of which country to select for initial entry by developing a model that captures the effect of _____with new product introductions: consumers in one country could be influenced by consumers in other countries in their new product adoption decisions.

A(n) _____ is essentially a field experiment where the new product is marketed in a select set of cities to assess its sales potential and scores of other performance measures.

Explain the differences between the modular and core-product approaches.

In markets with strong local players, the pressure to copy the local players is usually intense.

If prospective customers are contacted and shown commercials for the new product and existing brands (then asked to state attitudes and preferences of what they have seen), then the marketing research entity will probably have conducted a(n) _____ instead of a full test market.

The Nielsen Global New Product Innovation Survey taps into the reasons why consumers bought their last new product.Globally, on average, the top drivers included all of these except for which one?

Testing objectives, testing marketing mixes, making projections of sales volume, and analyzing potential competitive marketing mixes are all reasons to conduct:

Time-to-takeoff is declining.

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

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

In the Australian market, rather than manufacturing disposable diapers, Procter & Gamble decided to import them since the size of the market did not warrant local manufacturing according to P&G.Unfortunately, by using packaging designed for the Asian region with non-English labeling, P&G alienated its customers in Australia.This is an example of improper:

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.

In many industries, being innovative is not enough to be competitive.