brand and product decision in global marketing Flashcards
Industrial products
Machinery, manufacturing plants, materials, and other goods or component parts for use or consumption by other industries or firms
consumer products
any article, or component part produced or distributed for sale to a consumer for use in a household, a school, etc.
consumer products are adapted more
why are industrial products typically adapted less than consumer products
inherent nature of the product and the motive or intent for the use differs
core components
product platform
design features
functional features
packaging component
trademark brand name price quality package styling
support services component
deliverers, warranty, spare parts, repair and maintenance, installation, instructions
mandatory adaptions
government regulations
electrical current standards
measurement system
cultural adaptations
color preference, size preference, parent company (oreo using nabisco vs kraft)
f/t US companies systematically underadapt for cultural reasons
true
T/F More competition and more choices puts less power in the hands of the customer, which drives the need for quality.
False it puts more power in the consumers hands
T/F Quality in B2C markets can be defined on two dimensions: (1) market-perceived quality and (2) performance quality
true
T/F Quality in B2B markets is defined by the seller.
False, it is defined by the buyer
T/F In B2B markets there are universal standards in regards to quality
false, there are no universal standards
relative advantage definition and example
A product’s degree of superiority and attractiveness to customers over similar existing products.
Ex: the latest smart phone offers a better camera then previous model
compatibility definition and example
Compatibility is the capacity for two systems to work together without having to be altered to do so.
ex: when starbucks went into Brazil, the country was already a coffee drinking country
observability definition and example
The easier the benefits are to communicate the faster the product will diffuse
ex: a sales associate demonstrates how to use the new kitchen gadget
Complexity definition and example
The more complex a product is, the longer it takes to diffuse
ex: the latest car has so many gadgets its too hard to use
trailability definition and example
ex: P&G offered samples of its new laundry detergent in Colombia
characteristics and rate of diffusion
if they are all high they increase the rate of diffusion except for complexity slows the rate of diffusion
what extraneous variables affect the rate of diffusion (3)
degree of perceived newness
perceived attributes of the innovation
methods used to communicate the idea
country-of-origin effects
the influence that the country that manufactured, assembled, or designed a product has on a consumers positive or negative perception of the product
brand pyramid
bottom: presence, relevance, performance, advantage, bonding
performance level
consumers believe that the brand delivers on its basic functional promise
presence level
consumers are actively aware of the brand when they think of the product category
bonding level
consumers believe the brand is the best brand for them –it is their brand
relevance level
brand pyramid consumers think that the brand delivers something of value to them at a price they consider acceptable
advantage level
consumers believe the brand offers some benefit that distinguishes it from the competitors
what does a great global brand include (5)
brand experience, consistent positioning, sense of dynamism, sense of authenticity, strong corporate culture
T/F It takes more than global distribution and a consistent trademark to make a good global brand
True
T/F A global brand is one that has transcended its cultural origins to develop strong relationships with consumers across different countries and cultures.
True
T/F A challenge with global branding is to find the right balance between mindlessly global and hopelessly local
True
Laddering
provides a structure of people’s associations of brand at thee levels
-attributes, benefits, values
