10 Questions
What is the primary purpose of segmentation in marketing?
To divide the world market into subsets of people with similar needs
What is the concept that suggests 80% of sales revenue comes from 20% of customers?
Pareto's law
What type of positioning associates a brand with a specific country?
FCCP (foreign consumer culture positioning)
What is the primary difference between a product and a brand?
A product is tangible, while a brand is intangible
What is the purpose of the 4 Ps in marketing?
To develop a strategic marketing mix
What is product innovation in global marketing?
Developing new products for the global market
What is the primary purpose of evaluating the current size of a market segment?
To determine the growth potential of the segment
What type of segmentation is based on understanding the problem a product solves, the benefit it offers, or the issue it addresses?
Benefit
What is the primary purpose of positioning in marketing?
To differentiate a brand from its competitors
What is adaptation in global marketing?
Changing elements of design, function, or packaging according to the needs of different country markets
This quiz covers key concepts in marketing innovation, including divisibility, communicability, and adopter categories. It also explores the typical life cycle of products in the market.
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