Exam 14: Developing and Marketing Products

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 wants to grant the right to sell its furniture to only a limited number of resellers, it should consider which of these?

An ________ channel is difficult or impossible for outsiders to penetrate.

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

Low economic development can force communications to be adapted to local conditions.

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

Which of the following is NOT true?

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

Language barriers between the company and potential buyers help eliminate noise.

A ________ is most appropriate when buyers display a great deal of brand loyalty toward one particular brand name.

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. -Ben's boss, Bjorn Turide, has asked Ben to hypothesize what might occur if the company raised its prices further in export markets. Ben should tell his boss that ________.

Planning, implementing, and controlling the physical flow of a product from its point of origin to its point of consumption is called ________.

How do price controls work and how can companies operate in a price-control situation.

The ________ a product's value density, the more ________ the distribution system.

Creating consumer demand through direct marketing techniques is a common example of a ________ strategy.

A(n) ________ channel does not create strong barriers to channel entry for other producers, nor does it provide much control over reseller decisions such as what competing brands to sell.

Companies have benefited from the emergence of the Euro-consumer because advertising within the European Union can now be standardized.

Companies traditionally standardize all aspects of their international promotions.

Which of these refers to direct marketing?

Explain the primary concerns of managers when establishing distribution policies.

The ________ method adapts both the product and its marketing communication to suit the target market.