11 Questions
What are some of the factors that influence the decision to standardize or adapt the marketing mix in global marketing?
Economies of scale, global competition, and convergence of tastes and consumer needs
Why do services differ from products in the context of developing international strategy?
They are intangible, perishable, variable, and inseparable
Which type of service is easier to standardize due to minimal customer involvement?
FAQ on websites
What does the acronym 'TOM' stand for in product positioning?
Top-of-Mind
What does 'brand equity' refer to?
The value of a brand as perceived by customers
Which product adaptation strategy involves modifying the product while maintaining its core function in different markets?
Product adaption
What is the term for the cooperation between two or more brands in which all brand names are mentioned?
Co-branding
What is the term for products that have a retailer's own brand?
Private label
What is the term for the stage in product life cycle where profit gets higher due to shorter product development times and life cycles?
Growth
In which type of branding do suppliers deliver important components to the final product, adding value to it?
Ingredient branding
Which type of product decision involves deciding whether to brand a product and what type of branding to use?
Branding
Test your knowledge of decision-making in global marketing and the design of global marketing programs, including the standardization and adaptation of marketing mix elements such as product, price, distribution, and communication. Explore the considerations for product and communication decisions in a global context.
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