Procter & Gamble Successfully Introduced a Lower-Priced Version of Its

question 165

Multiple Choice

Procter & Gamble successfully introduced a lower-priced version of its popular Tide laundry detergent to the rural Chinese market, and a higher-priced version to city-dwellers in China. What does this illustrate about succeeding in a foreign market?

• A) Marketers must look for alternative distribution channels.
• B) Marketers must partner with a local marketing firm.
• C) Marketers must adapt a product to local preferences and culture.
• D) Marketers must maintain the exact product characteristics that were successful in the domestic market.

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Definitions:

Outstanding Checks

Checks that have been issued and recorded in accounting records but have not yet been cashed or cleared by the bank.

Bank Reconciliation

Aligning the cash account figures in a business's financial records with the relevant details found in a bank statement.

Bank Statement Balance

The ending account balance in a bank statement, representing the amount of money available in an account at the end of a statement period.

Outstanding Checks

Checks that have been written and recorded in the payer's financial records but have not yet been cashed or cleared by the bank.