GMS 522 Chapter 9 Exam Questions With 100% Correct Answers
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GMS 522 Chapter 9
Institution
GMS 522 Chapter 9
GMS 522 Chapter 9 Exam Questions With 100% Correct Answers
A product - Answer-a bundle of atributes (featurs functions benefits and uses) capable of exchange or use
/.Brand equity - Answer-the value of a brand to the firm (products with a well known brand name generate more equity)
/.Cons...
A product - Answer-a bundle of atributes (featurs functions benefits and uses) capable
of exchange or use
/.Brand equity - Answer-the value of a brand to the firm (products with a well known
brand name generate more equity)
/.Consumer mindset dimensions (think 5 a's) - Answer-1. Brand awareness: consumer
able to recognize brand
2. Brand association: favorability of product associated with a brand
3. Brand attitudes: consumers are satisfied with product
4. brand attachment: loyalty to brand
5. brand activity: consumers seek out additional information about a brand
/.Counterfeit products - Answer-illegitimate copies of hard goods that otherwise mimic
the original product
/.Drivers of adaptation: Country-level drivers - Answer-Adapting to a Countries religious,
geographical and economic needs
(Ex: Alfajr Watch company makes watches in Muslim countries which can tell you what
time and which way you should face while praying)
(EX 2: Nestle reduced fat in Kit-Kat bars sold to tropical countries since less fat makes
them melt slower.)
Ex 3: (backwards innovation: making products less complex for cheaper for developing
countries)
/.Drivers of adaptation: Industry/firm-level drivers - Answer-Making sure a company can
operate in a foreign country depending on:
- Having enough resources available
- Ability to fight local competitors
-Proper step in product life cycle
/.Drivers of adaptation: Product-level drivers - Answer-adaptation depending on product
sold
(Ex: food products might have to change based on cultural tastes)
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