Answered: Suppose that Winston Widgets and Salem…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Transcribed Image Text:Suppose that Winston Widgets and Salem Sprockets are both leading US manufacturers of electronic components used in smartphones worldwide. The two firms are similar in size and offer a comparable range of products that compete directly with each other across all major product categories. China is currently an important market for both firms. Winston Widgets was an early pioneer in entering the China market over twenty years ago, while Salem Sprockets entered China a few years ago. Several competing foreign firms also entered China during the time frame spanning the market entry of Winston Widgets and Salem Sprockets. Which of the following are potential benefits for Salem Sprockets in entering China later than Winston Widgets? Please select ALL of the correct answer choices that apply. building brand recognition avoiding the standards and rules that govern an industry developing valuable country-specific characteristics having more reliable data available about market conditions securing key suppliers and customers the opportunity to learn from the mistakes of others

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