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In order to decide whether standardization or adaptation

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In order to decide whether standardization or adaptation [#permalink]

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New post 03 Nov 2014, 05:54
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In order to decide whether standardization or adaptation is the more appropriate international marketing method, a company must take into account the requirements of the overseas market, the extent to which it is willing to meet the demands of overseas customers and, most crucially, its own available resources. Standardization provides a new or struggling business several advantages over adaptive overseas marketing. Standardization allows a company to lower costs while increasing its overall output, giving the company an initial competitive edge over rival companies who choose to implement an adaptive strategy. This strategy does not require expensive overseas research or extensive infrastructure in other countries but allows the company to continue producing its regular products overseas via the same method in which it produces them at home.

Given the current state of the global market, companies with enough resources often find greater benefits in an adaptive marketing strategy. Because of differences in values, languages and currencies, certain products will only be profitable in certain countries, and within each country, regional differences require careful scrutiny of area-specific customer preferences. Although expensive, overseas market research is highly valuable because it estimates the size of the available market, identifies the amount of competition in the area, and pinpoints potential trade barriers. Having information about the target population can allow the company to market certain products by employing devices such as local traditions or ancient folk legends to appeal to a culture's preferences and thereby sell more products.

1. The author suggests that standardization

A) has long-term benefits that outweigh those of adaptation
B) is chosen by companies which are more competitive than companies that choose adaptation
C) may be less beneficial than adaptation in the long-run.
D) becomes more expensive with time.
E) has short-lived benefits.


[Reveal] Spoiler:
C


2.Which of the following best summarizes the content of the passage?
A) Adaptation is a better method of international marketing than standardization for a rich company.
B) The decision whether to standardize or adapt a company's products relies heavily, but not exclusively, on its financial situation.
C) A company which decides to use standardization does so because it lacks the resources to use adaptation.
D) A company's choice of international marketing method depends on the extent to which it is willing to meet the demands of overseas customers.
E) The benefits of standardization outweigh the benefits of adaptation.


[Reveal] Spoiler:
B


3.Which of the following does the author mention about overseas market research?
A) Without it, a company will not be able to sell any products abroad.
B) It is worthless because of the expenses involved.
C) It allows a company to estimate how many people might be interested in its products.
D) It gives a company information about local competition but not about possible obstacles to trade.
E) It supplies information that could potentially create better trading connections.


[Reveal] Spoiler:
C


4.One function of the first paragraph is to
A) present the benefits of two methods of international marketing
B) describe two methods of international marketing, the benefits of which are described in the second paragraph
C) introduce two possible methods of international marketing, one of which is criticized in the second paragraph
D) present the benefits of adaptation for a company with many available resources
E) emphasize the importance of resources in a company's choice of marketing strategy


[Reveal] Spoiler:
E

[Reveal] Spoiler: Question #1 OA
[Reveal] Spoiler: Question #2 OA
[Reveal] Spoiler: Question #3 OA
[Reveal] Spoiler: Question #4 OA

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Re: In order to decide whether standardization or adaptation [#permalink]

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New post 11 Nov 2014, 00:38
9 min - 1 wrong :|

Can someone please explain question no. 2?
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Re: In order to decide whether standardization or adaptation [#permalink]

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New post 29 Dec 2014, 21:06
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2.Which of the following best summarizes the content of the passage? [main point]
A) Adaptation is a better method of international marketing than standardization for a rich company.
B) The decision whether to standardize or adapt a company's products relies heavily, but not exclusively, on its financial situation.
C) A company which decides to use standardization does so because it lacks the resources to use adaptation.
D) A company's choice of international marketing method depends on the extent to which it is willing to meet the demands of overseas customers.
E) The benefits of standardization outweigh the benefits of adaptation.

This is about B vs D.
I selected D, based on following:
Quote:
In order to decide whether standardization or adaptation is the more appropriate international marketing method, a company must take into account
the requirements of the overseas market, the extent to which it is willing to meet the demands of overseas customers and, most crucially,

But to answer this, we need to analyze the overall passage not just part of it.

Para#1: Intro and review and evaluation of method#1
In order to decide whether standardization or adaptation is the more appropriate international marketing method, a company must take into account
the requirements of the overseas market,
the extent to which it is willing to meet the demands of overseas customers and,
most crucially, its own available resources [till now resource is not clear].

Standardization provides a new or struggling business several advantages over adaptive overseas marketing. .... [rest of the para is bringing low cost advantage of this approach]

Para#2:review and evaluation of method#2
Given the current state of the global market, companies with enough resources often find greater benefits in an adaptive marketing strategy. ... Although expensive, overseas market research ....

So i assume resource here points to cost. So B fits here. IMO this one was tricky.
Request other members to share their inputs...
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Re: In order to decide whether standardization or adaptation [#permalink]

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New post 06 Mar 2015, 18:13
JarvisR wrote:
2.Which of the following best summarizes the content of the passage? [main point]
A) Adaptation is a better method of international marketing than standardization for a rich company.
B) The decision whether to standardize or adapt a company's products relies heavily, but not exclusively, on its financial situation.
C) A company which decides to use standardization does so because it lacks the resources to use adaptation.
D) A company's choice of international marketing method depends on the extent to which it is willing to meet the demands of overseas customers.
E) The benefits of standardization outweigh the benefits of adaptation.

This is about B vs D.
I selected D, based on following:
Quote:
In order to decide whether standardization or adaptation is the more appropriate international marketing method, a company must take into account
the requirements of the overseas market, the extent to which it is willing to meet the demands of overseas customers and, most crucially,

But to answer this, we need to analyze the overall passage not just part of it.

Para#1: Intro and review and evaluation of method#1
In order to decide whether standardization or adaptation is the more appropriate international marketing method, a company must take into account
the requirements of the overseas market,
the extent to which it is willing to meet the demands of overseas customers and,
most crucially, its own available resources [till now resource is not clear].

Standardization provides a new or struggling business several advantages over adaptive overseas marketing. .... [rest of the para is bringing low cost advantage of this approach]

Para#2:review and evaluation of method#2
Given the current state of the global market, companies with enough resources often find greater benefits in an adaptive marketing strategy. ... Although expensive, overseas market research ....

So i assume resource here points to cost. So B fits here. IMO this one was tricky.
Request other members to share their inputs...



I don't know why but i got the 1st one wrong :|
Plz explain..?
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Re: In order to decide whether standardization or adaptation [#permalink]

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New post 06 Apr 2015, 01:04
dpo28 wrote:
JarvisR wrote:
2.Which of the following best summarizes the content of the passage? [main point]
A) Adaptation is a better method of international marketing than standardization for a rich company.
B) The decision whether to standardize or adapt a company's products relies heavily, but not exclusively, on its financial situation.
C) A company which decides to use standardization does so because it lacks the resources to use adaptation.
D) A company's choice of international marketing method depends on the extent to which it is willing to meet the demands of overseas customers.
E) The benefits of standardization outweigh the benefits of adaptation.

This is about B vs D.
I selected D, based on following:
Quote:
In order to decide whether standardization or adaptation is the more appropriate international marketing method, a company must take into account
the requirements of the overseas market, the extent to which it is willing to meet the demands of overseas customers and, most crucially,

But to answer this, we need to analyze the overall passage not just part of it.

Para#1: Intro and review and evaluation of method#1
In order to decide whether standardization or adaptation is the more appropriate international marketing method, a company must take into account
the requirements of the overseas market,
the extent to which it is willing to meet the demands of overseas customers and,
most crucially, its own available resources [till now resource is not clear].

Standardization provides a new or struggling business several advantages over adaptive overseas marketing. .... [rest of the para is bringing low cost advantage of this approach]

Para#2:review and evaluation of method#2
Given the current state of the global market, companies with enough resources often find greater benefits in an adaptive marketing strategy. ... Although expensive, overseas market research ....

So i assume resource here points to cost. So B fits here. IMO this one was tricky.
Request other members to share their inputs...



I don't know why but i got the 1st one wrong :|
Plz explain..?




It is a suggestion question. It can be seen that when a company becomes stronger it is good to use the second method.
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Re: In order to decide whether standardization or adaptation [#permalink]

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New post 25 Dec 2015, 19:00
1. The author suggests that standardization
C) may be less beneficial than adaptation in the long-run.
"Standardization allows a company to lower costs while increasing its overall output, giving the company an initial competitive edge over rival companies who choose to implement an adaptive strategy." Choice E is tempted but we do not know whether it will be more or less beneficial in the future for sure.

2)Which of the following best summarizes the content of the passage?
B) The decision whether to standardize or adapt a company's products relies heavily, but not exclusively, on its financial situation.
"This strategy does not require expensive overseas research or extensive infrastructure in other countries but allows the company to continue producing its regular products overseas via the same method in which it produces them at home." The second passage focuses on explain more detailed passage one's information.
Choice D focus on a few lines of the second passage, so it is to narrow.

3.Which of the following does the author mention about overseas market research?
C) It allows a company to estimate how many people might be interested in its products.
"Although expensive, overseas market research is highly valuable because it estimates the size of the available market, identifies the amount of competition in the area, and pinpoints potential trade barriers."

4. One function of the first paragraph is to
B) describe two methods of international marketing, the benefits of which are described in the second paragraph
E) emphasize the importance of resources in a company's choice of marketing strategy

I'm confused between Choice B and E, I do not find information to support choice E, could anyone help me ?

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In order to decide whether standardization or adaptation [#permalink]

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New post 19 Oct 2016, 14:28
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Can someone explain Q3 please ?
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Last edited by syahasa2 on 17 Nov 2016, 11:19, edited 1 time in total.

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In order to decide whether standardization or adaptation [#permalink]

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New post 24 Oct 2016, 13:06
JarvisR : Can you explain Q-4???
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Re: In order to decide whether standardization or adaptation [#permalink]

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New post 25 Oct 2016, 18:36
InAthens wrote:
7 mins 3/4
Can someone explain Q3 please ?

I took about 8 minutes. Got 4/4 correct though :-D

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In order to decide whether standardization or adaptation [#permalink]

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New post 29 Oct 2016, 06:52
10 min :cry: (Have to keep working on my reading strategies)
Got 3/4 correct.

I got the 1st question wrong. Got stuck between C and E

Quote:
Standardization provides a new or struggling business several advantages over adaptive overseas marketing. Standardization allows a company to lower costs while increasing its overall output, giving the company an initial competitive edge over rival companies who choose to implement an adaptivestrategy.


From highlithed extracted part above, Option C is correct because, the passage assumes that S MKT there may have shorter term benefits than A MKT because S MKT give companies just an initial competitive edge over companies with A MKT, and probably not a competitive advantage in the long run?

Option E is incorrect because it is not suggesting a possibility of shorter term benefits, but assuring that it has long term benefits?

Kindly appreciate you Experts clarify my query.!

Thanks

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Last edited by Rumikido3 on 29 Oct 2016, 07:03, edited 1 time in total.

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In order to decide whether standardization or adaptation [#permalink]

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New post 29 Oct 2016, 07:02
InAthens wrote:
7 mins 3/4
Can someone explain Q3 please ?


I found the correct answer choice C for Q3 from this extract in the 2nd paragraph:
"Although expensive, overseas market research is highly valuable because it estimates the size of the available market, identifies the amount of competition in the area, and pinpoints potential trade barriers."

Estimating the size of the available market is the first clue that MR will estimate, demand, offer, competition, etc

If we keep reading..
"Having information about the target population can allow the company to market certain products by employing devices such as local traditions or ancient folk legends to appeal to a culture's preferences and thereby sell more products".

Bingo! the highlighted portion above complement your pre-thinking and is telling that MR can estimate the demand of the potential market.

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Re: In order to decide whether standardization or adaptation [#permalink]

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New post 13 Feb 2017, 06:47
JarvisR wrote:
2.Which of the following best summarizes the content of the passage? [main point]
A) Adaptation is a better method of international marketing than standardization for a rich company.
B) The decision whether to standardize or adapt a company's products relies heavily, but not exclusively, on its financial situation.
C) A company which decides to use standardization does so because it lacks the resources to use adaptation.
D) A company's choice of international marketing method depends on the extent to which it is willing to meet the demands of overseas customers.
E) The benefits of standardization outweigh the benefits of adaptation.

This is about B vs D.
I selected D, based on following:
Quote:
In order to decide whether standardization or adaptation is the more appropriate international marketing method, a company must take into account
the requirements of the overseas market, the extent to which it is willing to meet the demands of overseas customers and, most crucially,

But to answer this, we need to analyze the overall passage not just part of it.

Para#1: Intro and review and evaluation of method#1
In order to decide whether standardization or adaptation is the more appropriate international marketing method, a company must take into account
the requirements of the overseas market,
the extent to which it is willing to meet the demands of overseas customers and,
most crucially, its own available resources [till now resource is not clear].

Standardization provides a new or struggling business several advantages over adaptive overseas marketing. .... [rest of the para is bringing low cost advantage of this approach]

Para#2:review and evaluation of method#2
Given the current state of the global market, companies with enough resources often find greater benefits in an adaptive marketing strategy. ... Although expensive, overseas market research ....

So i assume resource here points to cost. So B fits here. IMO this one was tricky.
Request other members to share their inputs...


Yeah I also chose D but later realised D covers only one point among three points given at the start . Actually Overall passage suggests the startegy based on financial situation such as resource strength , overseas market analysis ( as mentioned by you) and marketing.
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Re: In order to decide whether standardization or adaptation [#permalink]

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New post 14 Feb 2017, 06:41
all correct--- 9:28 sec...passage was ok but question and answer choices were tough.

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Re: In order to decide whether standardization or adaptation [#permalink]

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New post 28 Jul 2017, 21:22
hi team,

for question 1 i choose b. experts could you please explain why b is wrong.

i picked b because of the following:
Standardisation allows a company to lower costs while increasing its overall output, giving the company an initial competitive edge over rival companies who choose to implement an adaptive strategy.

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Re: In order to decide whether standardization or adaptation [#permalink]

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New post 30 Aug 2017, 06:37
As for Q#1 where in the passage it is mentioned that "C) may be less beneficial than adaptation in the long-run". I cant find it anywhere, not even a reference to the same.

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Re: In order to decide whether standardization or adaptation   [#permalink] 30 Aug 2017, 06:37
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