Exam 14: Developing and Marketing Products

Discuss how international advertising differs from advertising in domestic markets.

The four components of marketing strategy include product, promotion, profit, and pricing polices.

A ________ is suited to industrial products because potential buyers usually need to be informed about a product's special features and benefits.

Scenario: Old World, Ltd. Old World, Ltd., a London-based furniture manufacturer, is establishing its global distribution, pricing, and promotion strategies. Being new to global business, the firm is seeking your help in making its decisions. -If Old World adopts a pricing policy of different selling prices in export markets than it has in the British market, it would be following ________.

The ________ method can be the simplest and most profitable promotion strategy.

When there are many levels of intermediaries in a distribution channel, a ________ strategy is often the easiest.

A pricing policy in which a product has a different selling price in export markets than it has in the home market is called ________.

National image is an important element of product policy because it affects buyers' perceptions of quality and reliability.

The free-market price that unrelated parties charge one another for a specific product is called a(n) ________.

A(n) ________ brand image is increasingly important as more consumers and businesspeople travel internationally.

Which of the following is known for its high level of counterfeit products?

An arm's length price is the price that is charged for products sold among a company's divisions or subsidiaries.

Some argue that because the world is becoming standardized and ________, companies should market the same products the same way in all countries.

Under the ________ method, a company adapts its product to the requirements of the international market while retaining the product's original marketing communication.

________ is when an idea to be communicated is translated into images, words, and symbols.

A(n) ________ is one in which a producer grants the right to sell its product to many resellers.

Which of the following is in the correct sequence?

Scenario: Scooters, Inc. Scooters, Inc. is a producer of pricey scooters. The company's profits come mostly from sales of its luxury line that caters to the rich and famous, similar to the Vespa. Ben Driven, vice president of marketing for Scooters, Inc. has been asked to review the company's worldwide pricing strategy. -Because Scooters, Inc. caters to a very narrow niche of wealthy individuals, the CEO is interested in implementing a worldwide pricing scheme. However, Ben knows that this could be difficult if ________.

Briefly discuss the effects of globalization on international marketing activities.

Scenario: Silk Industries, LLC Silk Industries, LLC comprises two major divisions: consumer products and industrial products. The consumer product line of the company enjoys a well-recognized brand name and loyal customers worldwide. The managers are considering different types of promotional strategies. -Which of the following might be most appropriate for its industrial product division?