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Marketing Innovation Adoption

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Questions and Answers

What is the primary purpose of segmentation in marketing?

To divide the world market into subsets of people with similar needs (correct)

To identify potential competitors in the market

To differentiate a brand from its competitors

To understand the demographic characteristics of customers

What is the concept that suggests 80% of sales revenue comes from 20% of customers?

Marketing Mix

Segmentation

Pareto's law (correct)

Positioning

What type of positioning associates a brand with a specific country?

LCCP (local consumer culture positioning)

Brand Extension

GCCP (global consumer culture positioning)

FCCP (foreign consumer culture positioning) (correct)

What is the primary difference between a product and a brand?

A product is tangible, while a brand is intangible Signup and view all the answers

What is the purpose of the 4 Ps in marketing?

To develop a strategic marketing mix Signup and view all the answers

What is product innovation in global marketing?

Developing new products for the global market Signup and view all the answers

What is the primary purpose of evaluating the current size of a market segment?

To determine the growth potential of the segment Signup and view all the answers

What type of segmentation is based on understanding the problem a product solves, the benefit it offers, or the issue it addresses?

Benefit Signup and view all the answers

What is the primary purpose of positioning in marketing?

To differentiate a brand from its competitors Signup and view all the answers

What is adaptation in global marketing?

Changing elements of design, function, or packaging according to the needs of different country markets Signup and view all the answers