Exam 13: Products and Services for Consumers

HT motors is introducing a new technology in its cars to improve the mileage of the cars as well as to reduce carbon emissions. The company is also taking measures to improve its production facilities in order to reduce its carbon footprint. These measures employed by HT motors to meet the guidelines issued by the government shows that the company is engaging in ________.

Which of the following has been at the forefront of the "green movement"?

Which of the following is true regarding the impact of global competition on the business activities in the marketplace?

Which of the following is considered to be one of the extraneous variables that affects the rate of diffusion of an object?

The packaging component of the product component model consists of the physical product and all its design and functional features.

List out the five characteristics of an innovation that assist in determining the rate of acceptance or resistance of the market to a product.

A shoe manufacturer in Puerto Ria shipped his entire production to San Francisco and brought it back to his home country to market it as "Made in the U.S." He knew that people would prefer buying products made in the U.S. rather than those that are domestically produced. The factor that is influencing the perception of the customers in the above scenario is called _____.

Marketers of consumer services face four kinds of barriers in the global marketplace. Which of the following of these barriers is in force when a foreign market requires that services (such as banking or insurance) originate within the country itself and not from outside sources?

In the context of product adaptation, what is product homologation?

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

Martin is comparing the characteristics of his company's water filters with those that are already being marketed in the local market. He realizes that there is lot of scope for his filters as they are functionally more advanced, have longer life, and also can be marketed at a competitive price in these markets. The characteristic of his product that will help in wide acceptance of his product is its _____.

The washing machines marketed by Taichi failed in Asian markets as those countries lacked the skills necessary to repair and maintain their products. Also, the washing machines spares available in local markets were not compatible with these machines. This product failure was a result of lack of attention by the company to the _____ component of the product.

Maxcare, an insurance firm based in California had difficulties expanding their operations to Asian markets, as most of their target countries had strict regulations on transferring the details of the customers among the different branches of the firm. The company had to obtain an approval from its customers before sharing their personal information with their branches in other countries. Which of the following barriers is affecting the services of the insurance firm in the above scenario?

According to Everett Rogers, the goals of the diffusion researcher and the marketer are to shorten the time lag between:

The Red Lobster seafood restaurant is considering opening branch operations in China. However, the restaurant chain's labor union has already pointed out a potential problem with this expansion. In China, it is considered to be in bad taste to allow employees to collect tips for service. Since a great portion of a typical wait-staff person's compensation comes in the form of tips, the union would like to know how employees would be compensated for this loss. The above example illustrates which of the following barriers a consumer services marketer faces in a foreign market?

Financial and legal services can not be regarded as a business service as they only provide services to the consumers.

Green marketing is the term frequently used to identify a marketer's efforts to reduce its dependency on U.S. dollars as the standard for international exchange.

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

A clothing company in Singapore which specialized in women's clothing, had to modify its clothes before introducing them to Iranian markets, to suit the needs of women in that country. Women in Iran are expected to cover themselves completely. The company mostly used opaque material and provided accessories like scarves. Which of the following factors is dictating product adaptation in the above scenario?

_____ is the term used to describe the changes mandated by local product and service standards.