Exam 13: Products and Services for Consumers

In countries with low-literacy rates, the pictures and symbols on products are literally taken as instructions and information.

One of the core components in the product component model is the product platform.

The support services component of the product component model contains such items as repair and maintenance and availability of spare parts.

Define a global brand. How important are global brands?

The Norton group, a manufacturer of toiletries and cleaning products, uses the name SparkleX, for most its products in all of their international markets. The name has created a universal appeal for its products as customers identify their products with the name. Hence, SparkleX can be regarded as a _____.

The Red Lobster, a restaurant, considers opening branches in China. However, the restaurant's labor union feels that since accepting tips by wait-staff is considered in bad taste in China, they will face considerable loss. Therefore, they demand to know how employees would be compensated for this since a great portion of a typical wait-staff person's compensation comes in the form of tips. Which of the following barriers a consumer services marketer faces in a foreign market is illustrated in this scenario?

Fiona's company wants to launch a new product in Madrid. Fiona requests her product manager to distribute some samples to potential customers there so that she can gauge the consumer preferences prevalent there before introducing the product. Here, Fiona tires to reduce the degree of economic and social risks, also known as _____, associated with product use.

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

What are the four barriers faced by consumer services marketers when they enter the global market?

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

Services are distinguished from products on the basis of their tangibility, durability, homogeneity, and separability.

Carolyn, who is interested in marketing her company's diet products in Asia, studies the acceptable behavior, norms, and values in Asian markets. In this scenario, Carolyn studies her product's _____ in the Asian markets.

Everett Rogers noted that four crucial elements affect the diffusion of new ideas. What are those elements?

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

Products from developing countries have the highest quality image.

_____ is the process by which innovation spreads.

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

What is the impact of global competition on the business strategies in the marketplace?

The product platform, design features, and functional features are all found in the _____ component of the physical product according to the product component model.

The European Commission (EC) mandate requires a product to be evaluated on all significant environmental effects throughout its life cycle, from manufacturing to disposal.