Exam 13: Setting Product Strategy

The sellers of ________ goods carry a wide assortment to satisfy individual tastes. They must have well-trained salespeople to inform and advise customers.

Product-mix pricing can involve a number of pricing strategies for the brand manager. List each of these strategies and briefly define each.

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________.

Ingredient branding can take on a form called "self-branding" in which the company advertises its own branded ingredients.

In the rapidly changing market of today's world, product lines must be continuously updated or modernized.

Competition for luxury brands must be defined narrowly.

Purchasers of theatre tickets receive a 20 percent discount if they purchase and pay for the full season at one time. This is an example of what type of product-mix pricing?

A Maserati sports car is considered a convenience good because interested buyers will travel far to buy one.

In planning its market offering, the marketer must address the five product levels of the customer-value hierarchy. Describe the "customer-value hierarchy" and identify the five levels of product contained within.

Companies may wish to implement a(n) ________ to achieve more growth, to realize higher margins, or simply to position themselves as full-line manufacturers.

When Mercedes successfully introduced its C-Class cars at $30,000 without injuring its ability to sell other Mercedes cars for $100,000, it was an example of a successful ________.

Betty Crocker cake mixes using Hershey syrup in its mixes and "Lunchables" lunch combinations with Taco Bell tacos are examples of what special type of branding?

Sellers must label their products. Labels serve many purposes beyond just "naming" the product. List the additional services provided by a product's label.

How a consumer shops for organic foods and how he or she uses and disposes of the product is part of the consumers' ________ that is important for marketers to consider.

Industrial-goods classifications based on terms of how the products enter the production process and their relative costs include such segments as materials and parts and capital items. Window cleaning services, consumable office supplies, personal computers, desks, paint, nails, and buckets are included in the classifications of industrial goods. List the other "classifications" including subclassifications for industrial goods.

Delivery refers to how well a product or service is brought to the customer. It includes speed, ________, and care throughout the delivery process.

To be branded, products must be differentiated. List the possible ways that physical products can be differentiated.

Happy Home Products produces detergents, toothpaste, bar soap, disposable diapers, and paper products. This company has a product ________ of five lines.

A buyer of the 2013 Subaru Outback 2.5i could pay extra for four-way passenger seats, an All-Weather package, and a power moon roof because Subaru was using captive-product pricing.

It was sunny when Jenny went to class, but by the time class was over it was raining heavily, so Jenny stopped by the student store to buy an umbrella before she walked back to her dorm. In this case, the umbrella is an example of a(n) ________ good.