Unformatted text preview: MSC: BLOOMS Synthesis 10. Describe how a multinational corporation can most efficiently and effectively meet the needs of
the global market.
A firm that adopts a worldwide new-product development strategy is better able to develop
products with specifications that are marketable in multiple countries. Ideally, products should be
developed for potential worldwide distribution, and unique multinational market requirements are
incorporated into the base product whenever technically feasible. A company could also design
products to meet regulations and other key requirements in its major market and then meet
smaller markets’ requirements on a country-by-country basis. The main goal of the global product
development process is not to develop a standard product or product line, but to build adaptability
into products that are expected to achieve worldwide appeal.
KEY: CB&E Model Product | CB&E Model International Perspective
MSC: BLOOMS Synthesis
11. There are five categories of adopters participating in the diffusion process. Name and briefly
describe each of these five categories in the correct order from first adopter to last adopter.
INNOVATORS represent the first 2.5 percent of adopters. They are venturesome and eager to try
new products. They have higher incomes, better education, and more self-confidence than
noninnovators and rely less on group norms. Moreover, they are active outside their communities.
Innovators obtain information from scientific sources and experts.
EARLY ADOPTERS represent the next 13.5 percent of adopters. They are reliant on group norms
and values, oriented to the local community, and likely to be opinion leaders.
THE EARLY MAJORITY is the next 34 percent to adopt. They are deliberate in their information
collection and are likely to be the friends and neighbors of opinion leaders.
THE LATE MAJORITY is the next 34 percent to adopt. They adopt to conform to social
pressure. They tend to be older and below average in income and education. They rely on wordof-mouth communication rather than the mass media. Their dominant characteristic is skepticism.
LAGGARDS are the final 16 percent to adopt. They are tradition bound and do not rely on group
norms. Laggards have the lowest socioeconomic status, are suspicious of new products, and are
alienated from a rapidly advancing society. Marketers typically ignore laggards.
KEY: CB&E Model Customer OBJ: 11-4 TOP: AACSB MSC: BLOOMS Synthesis 12. Hemopure is a blood substitute developed by Biopure Corporation. It does not have to be
refrigerated or blood typed like donated human blood that is currently being used in blood
transfusions. It comes in bags just like donated blood, so it can be used with intravenous tubes
and needles just like donated human blood. As a result, medical personnel will not have to make
any adjustments if they adopt this product. Name and describe the five produc...
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This document was uploaded on 09/29/2013.
- Fall '13