Firms Use Two Marketing Tools to Differentiate Their Products

question 128

Multiple Choice

Firms use two marketing tools to differentiate their products.What are these two tools?

• A)lobbying and word of mouth
• B)market research and demand estimation
• C)brand management and advertising
• D)consumer surveys and market experiments

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Definitions:

Cultural Differences

The diversity in attitudes, values, behaviors, and communication styles among individuals from different cultural backgrounds.

Multidomestic Strategy

A multidomestic strategy involves a corporation tailoring its products or services to each country or market in which it operates, catering to local preferences and competition.

Global Strategy

Introducing culturally sensitive products in chosen countries with the least amount of cost.

Foreign Nationals

Individuals who are citizens of a country other than the one in which they are currently living or working.