Exam 13: Products and Services for Consumers

Booster bar is a popular brand of energy bars in Canada. The company sold these bars singly or in packs of two in the South Asian markets, instead of their regular multiple-item packaging containing 10 or 20 bars to make it more affordable for the consumers. Which of the following requirements of the local market is influencing product adaptation in the above scenario?

Because a service is individually produced and is virtually unique, the service is said to have _____.

From a sociological viewpoint, any idea perceived as new by a group of people is considered as a(n) _____.

The _____ effect refers to the possibility that the place of manufacture may affect product or brand image.

Simone Francis is a specialist in product design. She is responsible for a product's aesthetic as well as functional appearance. With respect to the product component model, in which of the following component categories would Simone's talents most likely be used?

_____ is a term used to identify concern with the environmental consequences of a variety of marketing activities.

From a sociological point of view, any idea perceived as new by a group of people is an innovation.

The newness of a product or brand introduced can be an important competitive advantage.

In the context of products and services for consumers, what is the importance of quality while marketing products?

In Russia, products are divided into two categories- "ours" and "imported." This is an example of:

Brand image is at the very core of business identity and strategy.

Define Country-of-origin effect. How can a company overcome this effect?

In general, the rate of diffusion can be postulated as negatively related to _____.

Global competition has put more power in the hands of the seller.

If a company is altering the price of its product to compete with the local companies in the international market, it is focusing on the _____ component of the product, according to the product component model.

Define a global brand. How important are global brands?

Nuan, a television manufacturer in Korea, had to modify its televisions before introducing it to the Zimbabwean markets, as the country did not have the skills to repair the product in case of a malfunction. The local salesforce too, did not have the sufficient knowledge regarding the installation of the product. The factor that is influencing product adaptation in the above scenario is ________.

Products from developing countries have the highest quality image.

_____ is the process by which innovation spreads.

An important first step in adapting a product to a foreign market is to determine the degree of newness as perceived by the intended market.