Exam 12: Setting Product Strategy

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,you outline the objectives (both company and consumer orientated)that you wish to see implemented by the design team.List these objectives.

________ are major purchases and are usually bought directly from the producer with the typical sale preceded by long negotiation periods.

Product is the key element in the market offering.

A manufacturer is contemplating introducing a product that is inferior to its competition in its performance,design,and functionality.However,the manufacturer believes that "good brand marketing" can overcome these shortfalls.Why is this thinking incorrect?

The sellers of ________ goods carry a wide assortment to satisfy individual tastes and must have well-trained salespeople to inform and advise customers.Examples include automobile dealers,furniture stores,and insurance services.

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

Manufacturers of systems such as razors and ink jet printers use a system of pricing called "two-part pricing"-one price for the disposable products and another for the "hardware."

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

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

A manufacturer of hiking boots looks at data that indicate that their subsegment of the market called "serious hiker" is declining and is predicted to decline into the future.The firm decides to enter the "low-price" segment with its new items.This is an example of a firm's ________ to reach a new market.

Guarantees are most effective in two situations.The first is when the company or products are not well known and the second is when the product's quality is ________ to competition.

Firms should design the highest performance level possible for their products.

Sales of luxury goods such as perfumes,colognes,and aftershaves depend heavily upon their initial response by the consumer.A well-designed package can create convenience and promotional value.It has been called the "silent salesman." Which of the three levels of packaging is this "silent salesman"?

Various factors have contributed to the increased importance of packaging as a marketing tool.List and briefly describe these events.

A consumer products firm manufacturers and sells over 200 different sizes and varieties of jams and jellies.We can say that this manufacturer's product mix has high ________.

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

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

A(n)________ is defined as a distinct unit within a brand or product line distinguishable by size,price,appearance,or some other attribute.

________ occurs when a company lengthens its product line beyond its current range.

Marketers must see themselves as benefit providers.For example,when a shopper purchases new shoes,he/she expects the shoes to cover his/her feet and allow them to walk unobstructed.This is an example of what level in the consumer-value hierarchy?