16 Questions
Which of the following is a characteristic of services as mentioned in the text?
Perishability
What does 'Physical Evidence' primarily contribute to, as per the text?
Brand building and differentiation
Which factor may lead to different levels of customer satisfaction?
Employee performance
Why does the increase in sophistication of products lead to an increase in input service?
To meet the growing demand for services in response to product sophistication
What percentage of worldwide GDP does the service sector account for, according to the text?
More than 60%
In contrast to goods, which characteristic is typically associated with services?
Production and consumption at different times
Which of the following are the realms of experimental value added to a business in the experience economy?
Economic
What is the characteristic of global marketing as compared to international marketing?
Generic approach without cultural tailoring
According to the essay 'The Globalization of Markets', what will well-managed companies offer for long-term success?
Globally standardized products that are advanced, functional, reliable, and low-priced
What is the definition of Born Global or International New Ventures?
Business organizations that seek to operate in multiple countries from inception
What is the reason behind the counter-trend in exports growth and local consumption referred to in the text?
Fueled by environmental and social concerns
What does Japan strive for in terms of standardization?
Standardization at high-quality levels
What are the four realms of experimental value added to a business in the experience economy?
Educational, Aesthetic, Escapist, Economic
According to the essay 'Born Global', what type of organizations are defined as International New Ventures?
Organizations seeking to operate in multiple countries from inception
What is the approach of international marketing towards product and promotional adaption in foreign markets?
Polycentric orientation
What do well-managed companies postulate will lead to long-term success according to 'The Globalization of Markets' essay?
$100 standard products with premium quality
Explore the distinctions between goods and services in marketing, including their storable or perishable nature, production and consumption processes, and the impact on pricing decisions. Learn about the 7 Ps framework and how it applies to pricing, physical evidence, and the role of people in marketing goods and services.
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