In the Context of Global Marketing,when a Company Either Creates

question 99

Multiple Choice

In the context of global marketing,when a company either creates a new product for a market or dramatically changes an existing product,the company is using a _____ strategy

• A) product invention
• B) product extension
• C) market substitution
• D) product licensing
• E) market adaptation

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Definitions:

B2B

Business-to-Business, a model wherein transactions or trade happens directly between two businesses rather than between a business and individual consumer.

B2C

Business-to-Consumer, referring to the process of selling products and services directly to consumers who are the end-users.

C2B

Consumer to Business, a business model where consumers (individuals) create value or products that businesses purchase, consume or use, essentially reversing the traditional business-to-consumer (B2C) model.

C2C

Consumer-to-Consumer, a business model that facilitates the transaction of products or services between customers, typically using the internet.