Exam 12: Setting Product Strategy

Various factors have contributed to the growing use of packaging as a marketing tool and include all of the following EXCEPT ________.

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

During a meeting,you were asked by the vice-president of marketing,to comment on the company's pricing strategy for its products.Recalling your marketing management course in college,your comments define the six situations involving product-mix pricing.List these six product-mix pricing strategies.

You know that your small firm cannot compete with the "big boys" in terms of price and promotion.Instead,you have decided to "outdesign" them.What is necessary for this strategy of "outdesigning them" to succeed?

The vast array of products that consumers buy can be classified on the basis of shopping habits and are broken down into four main areas.List these four main classifications of consumer goods and explain what elements are included within.

As the newest member of the marketing department,your immediate boss asks you to comment on the company's proposal to add two new shoes to the company's middle-of-the-road pricing and product-line strategies.The first pair will retail for $ 40.00 and has as its target market the "bargain" shopper.The second pair will retail for $ 200.00 and is targeted at the "sophisticated shopper." In relation to product-line strategy,what is the company trying to accomplish with these two new items?

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

Product-line analysis provides information for two key decision areas-product-line length and ________.

Durable products normally require more personal selling and service and more seller guarantees than nondurable goods.

Supplies can be classified as two kinds: maintenance and repair items and operating supplies.

Design can shift consumer perceptions to make brand experiences more rewarding.

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

When Jack bought his new laptop,he also bought a laptop bag and a spare power cord through the same retailer.These items are considered to be ________.

McDonald's restaurants inside Super Wal-Marts and Starbucks inside Super Targets are examples of ________,whose main advantages are that the products can or may be convincingly positioned by virtue of the associated brands.

Improved handling or storage,better packaging,and improved transportation and forward logistics are methods for reducing ________.

Companies normally develop product lines rather than single products and require sellers to establish ________ quality differences between price steps within the line.

In planning its market offering,the marketer needs to address five product levels,each of which reduces customer value.

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

In increasingly fast-paced markets,price and technology are not enough.________ is the factor that will often give a company its competitive edge and is defined as the totality of features that affect how a product looks,feels,and functions in terms of customer requirements.

________ is a special case of co-branding involving creating brand equity for materials,components,or parts that are necessarily contained within other branded products.