This review page is divided into three sections: major models and frameworks, sample questions, and case analysis. No additional modifications will be made.
MAJOR MODELS AND FRAMEWORKS :
We have covered several major models and analytical frameworks during this course that enable you to analyze a situation in making marketing-related decisions. 1. Changes in consumer buying and usage habits in recessionary conditions (p. 93) 2. ABCD Model (p. 108): consumer access, buying, consumption, disposal as a framework to organize the examination of the various aspects of consumer response. Built on industrial models of B2B. 3. Drivers Model (p. 254): organizes a four-component model of various major factors that affect a business's strategies 4. Opportunity Matrix (p. 286): allows the company to compare perceived level of political risk and perceived level of opportunity in a destination market. 5. Types of Tariffs (p. 151)
6. Segmentation (p. 219) - grouping of consumers based on factors meaningful to our business. 7. Positioning (p. 235, 236, 240): Definition, gap analysis, types, use of positioning 8. Market Entry Flowchart (p. 283, 288) - a systematic analysis 9. Market Entry Table (p. 309) - why are certain methods chosen? 10. Analytical product models, comparative analysis of attributes (p. 357, 363): taste tests, product concept tests, conjoint analysis, analogy - these are methods from new product development that allow us to analyze consumer reactions to various product attributes 11. Product standardization, adaptation - in creating a global brand, when and what can be standardized? What can and should be adapted? Sanex case example 12. Branding and Country of Origin Effects (p. 404) - what types of brand emphasis can be given? What attributes of a brand contribute to the brand image? 13. Pricing (425, 435, 478): euro
14. Communications: model, adaptations - we examine the specific encoding that is chosen when communicating with consumers in various cultures. Do our meanings communicate what we intend? Can the message be decoded appropriately? 15. Sales, Table p. 494
16. Global E-commerce issues: p. 605, 611
The questions below illustrate the types of major issues that we have been covering in the course since the Midterm. There are varied formats. The test bank will be updated periodically to represent our discussions. Chapter 11 – PRODUCT CONCEPTS
Ikea, the Swedish furniture chain, insists that all its stores carry the basic product line with little room for adaptation to local tastes. If research of the U.S. market showed that Americans preferred larger beds than their Swedish counterparts, which of the following strategies would be advisable for Ikea? a. standardization.
b. new product development.
d. withdraw from market.
e. lower prices to encourage attitude change.
Answer: (c) Difficulty: (1) Knowledge: (A) Page: 346 In the Australian market, rather than manufacturing disposable diapers, Proctor & Gamble decided to import them since the size of the market did not warrant local manufacturing according to P&G. Unfortunately, by using packaging designed for the Asian region with non-English labeling, P&G alienated its customers in Australia. This is an example of improper: a. global policy decisions.
b. pricing decisions.
c. brand policy decisions.
d. product policy decisions.
e. company policy decisions.
Answer: (d) Difficulty: (3) Knowledge: (F) Page: 347 Explain what could have been done to prevent the problem.
Suppose that you have been hired to correct the problem. What would you do? The primary advantage to using a standardization approach to marketing a product in the international arena is: a. minimization of costs (which can be passed on to customers). b. more profit.
c. less service...