Once a New Technology Spreads and Is Adopted by Many

question 137

Multiple Choice

Once a new technology spreads and is adopted by many countries:

• A) the first country to use it may lose its comparative advantage.
• B) the first country to use it will lose its absolute advantage.
• C) other countries will perfect it, putting them at an absolute advantage.
• D) the country will have to have strict intellectual property rights protections in place.

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Definitions:

Generic Positioning

A marketing strategy where a brand presents itself as an ideal choice because of general characteristics, without focusing on specific features or benefits.

Loyalty

A customer's willingness to repeatedly return to a company to conduct business due to the delightful and rewarding experiences they’ve had with the brand.

Punch Cards

Pieces of stiff paper that contain digital data represented by the presence or absence of holes in predefined positions, historically used for controlling machinery or data processing.

Brand Equity

The value attributed to a brand based on consumer perception, recognition, and loyalty.