Exam 14: Developing and Marketing Products

Product standardization is more likely when nations share the same level of economic development.

________ is often necessary when many important differences exist between the home and target markets.

The physical path a product follows on its way to customers is called a distribution channel.

Describe the five product/promotional methods companies use, and the appropriate situations for each.

The process of sending messages about products to target markets is called ________.

A brand name is the name of one or more items in a product line that identifies the source or character of the items.

________ are semantic elements that make up all company and product brand names.

Because companies are undertaking new product development at an increasingly rapid pace, product life cycles are becoming shorter.

A(n) ________ is the price charged for products sold between a company's divisions or subsidiaries.

________ occurs when a product has a higher selling price in export markets than it has in the home market.

The dual extension method extends the same home-market product and marketing promotion into target markets.

Traditionally, companies managed to extend a product's life by introducing it into different markets consecutively.

The value of a product relative to its weight and volume is called its ________.

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

Product names seldom offend people in international markets, but brand names can be highly offensive if they are not carefully researched and selected.

When distribution channels are lengthy, a push strategy is typically most successful.

A promotion mix is composed of all of the following EXCEPT ________.

Anything that disrupts the audience's ability to receive and interpret the promotional message is called encoding.

The black market is a marketplace of underground transactions that typically appears because a product is either illegal or tightly regulated.

A company following a differentiation strategy usually can charge a premium price for its products because buyers value the product's uniqueness.