Question 1

Describe the six main service differentiators.

Accepted Answer

The main service differentiators are ord

Question 2

When a physical product cannot easily be differentiated,the key to competitive success may lie in adding valued services and improving quality.Identify the six main service differentiators.

Accepted Answer

The six main service different

Question 3

To be branded,physical products need not be differentiated.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

Products can be differentiated

Question 5

A pricing system in which there is a "fixed" fee and then a variable "usage" fee is called bundling.

Accepted Answer

A) True 
 B)False

Question 6

You have been asked to create a product system for your company's personal digital assistant.Before starting,you must define the term "product system" to the engineers to enable them to start design and production of the aligned items.Define the concept of a "product system."

Accepted Answer

A product system is

Question 7

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

Accepted Answer

A label identifies the product

Question 8

A product is anything that can be offered to a market to satisfy a want or need.

Accepted Answer

A) True 
 B)False

Question 9

In discussions with the packaging design team,you note that they do not have a firm design objective for the final package.In an internal memo to your boss,outline the objectives (both company and consumer orientated)that you wish to see implemented by the design team.

Accepted Answer

The objectives of packaging are to ident

Question 10

Explain the concept of line stretching and the three uses for it.

Accepted Answer

Line stretching occurs when a company le

Question 11

The way the user performs the tasks of getting and using products and related services is the user's total ________.

Accepted Answer

A) consumption system 
B) consumable system 
C) consistent use system. 
D) augmented system. 
E) potential system 
A) consumption system 
B) consumable system 
C) consistent use system. 
D) augmented system. 
E) potential system

Question 12

Companies normally develop product lines rather than a single product and introduce price steps such as a "low-," "average-," and "high-"priced computer system.

Accepted Answer

A) True 
 B)False

Question 13

Distinguish between controllable returns and uncontrollable returns.

Accepted Answer

Controllable returns result from problem

Question 14

The customer-value hierarchy consists of the basic product,core benefit,expected product,augmented product,and the consumption system.

Accepted Answer

A) True 
 B)False

Question 15

Co-branding is when two or more well-known existing brands are combined into a joint product and/or marketed together in some fashion.

Accepted Answer

A) True 
 B)False

Question 16

Marketers have traditionally classified products on the basis of characteristics such as durability,tangibility,and use.

Accepted Answer

A) True 
 B)False

Question 17

Guarantees are most effective when the product is well known and/or similar in performance to other brands in the market.

Accepted Answer

A) True 
 B)False

Question 18

Packaging is all the activities of designing and producing the container for a product.

Accepted Answer

A) True 
 B)False

Question 19

As a selling point,durability commands a particularly high pricing premium,especially for products that are subject to rapid technological obsolescence,as are personal computers and video cameras.

Accepted Answer

A) True 
 B)False

Question 20

________ refers to educating the customer's employees to use the vendor's equipment properly and efficiently.

Accepted Answer

A) Customer training 
B) Open innovation 
C) Crowdsourcing 
D) Co-development 
E) Collaborative research 
A) Customer training 
B) Open innovation 
C) Crowdsourcing 
D) Co-development 
E) Collaborative research

Exam 12: Setting Product Strategy

Describe the six main service differentiators.

When a physical product cannot easily be differentiated,the key to competitive success may lie in adding valued services and improving quality.Identify the six main service differentiators.

To be branded,physical products need not be differentiated.

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

A pricing system in which there is a "fixed" fee and then a variable "usage" fee is called bundling.

You have been asked to create a product system for your company's personal digital assistant.Before starting,you must define the term "product system" to the engineers to enable them to start design and production of the aligned items.Define the concept of a "product system."

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

A product is anything that can be offered to a market to satisfy a want or need.

In discussions with the packaging design team,you note that they do not have a firm design objective for the final package.In an internal memo to your boss,outline the objectives (both company and consumer orientated)that you wish to see implemented by the design team.

Explain the concept of line stretching and the three uses for it.

The way the user performs the tasks of getting and using products and related services is the user's total ________.

Companies normally develop product lines rather than a single product and introduce price steps such as a "low-," "average-," and "high-"priced computer system.

Distinguish between controllable returns and uncontrollable returns.

The customer-value hierarchy consists of the basic product,core benefit,expected product,augmented product,and the consumption system.

Co-branding is when two or more well-known existing brands are combined into a joint product and/or marketed together in some fashion.

Marketers have traditionally classified products on the basis of characteristics such as durability,tangibility,and use.

Guarantees are most effective when the product is well known and/or similar in performance to other brands in the market.

Packaging is all the activities of designing and producing the container for a product.

As a selling point,durability commands a particularly high pricing premium,especially for products that are subject to rapid technological obsolescence,as are personal computers and video cameras.

________ refers to educating the customer's employees to use the vendor's equipment properly and efficiently.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Gathering Information and Forecasting Demand

Conducting Marketing Research

Creating Customer Value,satisfaction,and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Marketing Channels and Value Networks

Managing Retailing,wholesaling,and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, sales Promotions, events, and Public Relations

Managing Digital Communications: Online, social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

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