Exam 12: Setting Product Strategy

Products such as insurance,cemetery plots,and smoke detectors are examples of ________ that are products that the consumer does not know about or does not normally think of buying.

Realizing that although household products is a huge category,taking up an entire supermarket aisle or more,it is an incredibly boring one,the founders of Method Products designed a sleek,uncluttered dish soap container that also carried functional advantages.Method is competing in the crowded market for household products on the basis of superior ________.

Some service firms often engage in ________,consisting of a fixed fee plus a variable usage fee.

The main advantage of co-branding is that a product may be convincingly positioned by virtue of the ________ involved.

Industrial goods can be classified as ________,capital items,or suppliers and business services based on their costliness and how they enter the production process.

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

In ________,the seller offers goods both individually and in bundles and often charges less for the "bundle" than for the individual products.

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

Marriott Corporation now contains hotels and motels from the "budget" end of the consumer spectrum to the "premium" end with their JD Marriott flagship locations.This is an example of a firm that successfully performed a ________ to reach more consumers and ventures that are more profitable.

To avoid "feature fatigue," companies must be careful to prioritize those features that are included and find unobtrusive ways to provide information about how consumers can use and benefit from the feature.

You know that marketers have traditionally classified products based on characteristics of durability,tangibility,and use.You also know that each product type has an appropriate marketing-mix strategy attached.In analyzing your company's products,you decide to list each of these products and the appropriate marketing-mix strategy to understand where your products "fit." List these products and their appropriate marketing-mix strategies.

Most products are established at one of four performance levels: low,average,high,or superior.For example,mountain bikes come in a variety of sizes and physical attributes.When a consumer purchases a mountain bike costing $1,000,she/he expects the bike to perform to specifications and to have a high _________ meeting the promised specifications.

________ are formal statements of expected product performance by the manufacturer.

Convenience goods,products purchased without much thought,can be classified as impulse goods and emergency goods,and this constitutes one of the four classifications of goods based on shopping habits.The purchase of a Mercedes automobile,life insurance,homogeneous shopping goods,and heterogeneous shopping goods are examples of the other classifications.Identify these "goods" classifications or segments.

________ are the major factors influencing the selection of suppliers for natural products.

Industrial goods can be classified in terms of how they enter the production process and their relative costliness.Identify the three groups of industrial goods.

The ________ of the product mix refers to how closely related the various product lines are in end use,production requirements,distribution channels,or some other way.

Supplies and business services are short-term goods and services that facilitate ________ or managing the finished product.

Ideal ________ would exist if users could fix the product themselves with little cost in money or time.

If line filling is overdone,it could result in ________ and customer confusion.