Which of the following is a difference between product invention and product adaptation?
a. Product invention involves altering the promotional strategies for a product, while product adaptation does not involve altering such strategies.
b. Product invention takes the marketing mix into consideration, while product adaptation does not take it into consideration.
c. Product invention involves drastically changing an existing product, while product adaptation involves slightly altering a basic product.
d. Product invention applies only to products that are displayed in local markets, while product adaptation applies to products all around the world.
ANSWER: c
In the context of global marketing, product invention can be taken to mean either creating a new product for a market or drastically changing an existing product. Product adaptation refers to slightly altering a basic product to meet local conditions.
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Multilearning refers to:
A) transmitting the learning across different levels and functions. B) allowing project teams to operate like startup companies. C) allowing various phases of development to overlap. D) top management providing only a general strategic direction for the team without controlling it strictly.
Critics charge that high advertising and promotion costs unnecessarily increase retail prices. Marketers most likely respond to this criticism by arguing that advertising ________
A) provides essential psychological benefits about products B) adds value by giving consumers product information C) generates tax breaks for small businesses D) applies a functional value to the product E) lowers prices by increasing competition
Answer the following statements true (T) or false (F)
1. While initially creating a rift between American and Mexican labor, NAFTA caused a shift in the attitudes of U.S. and Canadian labor movements which now view Mexican workers as partners in the struggle for improved worker rights. 2. A key factor in Britain's vote to leave the EU was concern over the difficulty of limiting migration into Britain due to the EU's open border policies. 3. The agreement between countries that created the European Union provides trade agreements similar to those that exist between NAFTA nations. 4. Unlike the free trade arrangements of the WTO and NAFTA, workers in any European Union country can freely cross member nation's borders to work. 5. The primary objective of European unification has been to create a thriving economy in response to increased competition from Asia over the past 30 years.
Chronological organization arranges ideas by A) time
B) order of importance. C) physical location. D) simple to complex.