Reference no: EM133377992

Questions

1. When products or services are first introduced into a market, they are often marketed as innovative and sold at a premium price. Once the product or service becomes established in a market, how is it typically positioned to differentiate it from the competition?

a. The product is typically positioned the same as the competitors

b. The product is typically positioned mid-range in the market

c. The product is typically positioned as the best in the market

d. The product is typically positioned at a premium price in the market

2. Brand Equity is defined as:

a. The way in which an organization wants a brand's name, communication style, logo and other visual elements to be perceived by consumers, not necessarily how it is actually perceived

b. All of the above

c. A name, term, design, symbol or any other feature that identifies one seller's product as distinct from those of other seller

d. The quality and value in the mind of a consumer associated with a particular brand, its name, logo or image

3. Rapid fluctuations in currency values

a. Mean that the organizations competitive position can change rapidly

b. Will vary depending on international market chosen

c. Does not have any affect

d. Will change the pricing of goods and services

4. Saran Sport, a Korean-based supplier of sports equipment, has entered the Chinese market and is beginning to plan its promotional strategy. The marketing team has had success with both social media campaigns and event sponsorship in other markets. It has carried out consumer research on the Chinese markets they plan to target and have created a customer profile to guide their promotional activities. What is the recommended first step for promoting Saran Sport products in China?

a. Develop promotional materials in Cantonese and Mandarin.

b. Identify media regulations related to promotional activities in the target market.

c. Approach professional Chinese athletes to discuss product endorsement deals.

d. Research amateur and professional sporting events where marketing opportunities might exist.

5. Market research is needed to identify necessary and optional adaptations.

a. False

b. True

6. What costs associated with international trade are lower or non-existent for domestic trade?

a. Exchange rate fluctuations

b. Shipping

c. All of the above

d. Securing the initial sale