BUS1203 - T7 (1): Developing and Marketing Products & Services

Why many developing countries have fewer consumer protection laws?

• High level of trust between businesses and consumers
• Strict enforcement of existing laws
• Lack of awareness about consumer rights
• Various reasons such as limited resources, focus on economic growth over regulation, lack of political will, and influence from powerful corporations.

What is the main purpose of brand names?

• To differentiate products/services and create a unique identity.
• To blend in with competitors and lose market share
• To make products/services more expensive
• To confuse consumers and decrease sales

Which of the following is a negative impact of counterfeit goods?

• Increased brand reputation
• Damage brand's image

• Enhanced product quality
• Boost in sales

Companies traditionally managed to extend a product’s life by introducing it into different markets consecutively.

• True

• False

Waterfall Strategy can be defined as:

• A software development methodology that emphasizes a flexible, iterative approach
• The sequential introduction of a product

  into new markets abroad one at a time.

• A strategy that involves completing tasks in a random order
• Production of various kind of products

Pressure distribution channel members to carry a product and to promote it to final users is known as:

• Pull Strategy

• Push Strategy

Companies try to reach distribution channels and target customers through:

• product development

• promotion mix

• pricing strategy

• financing strategy

Entirely new advertisement must be created due to:

• cultural differences

• cultural similarities

• cultural restrictions

• market trends

How can companies reach a global audience?

• Send physical mailers to every household worldwide
• Stick to traditional marketing methods without any digital presence
• Only focus on one specific region and ignore global opportunities
• Utilize digital marketing strategies such as social media advertising, SEO, content localization, influencer partnerships, and targeted online campaigns.

Give examples of products or services in Malaysia promoted through Push and Pull strategies.