Exam 8: Developing and Managing Products and Services

Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers? introduction growth maturity decline phase-in

An alternative to product line stretching is ________, adding more items within the present range of the line. product mixing interactive marketing product line filling co-branding service marketing

Which of the following is an accurate description of a style? Styles appear in home, clothing, but seldom in art. Once a style is invented, it will only last for a few months. A style has a cycle showing several periods of renewed interest. Styles tend to attract only a limited following. Styles are complicated modes of expression.

GrayBerry Gifts has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs.The owners will begin the first idea-reducing stage, called ________, to arrive at a realistic number to adopt. idea generation idea screening concept testing concept development business analysis

Although products that remain in the maturity stage of the PLC seem unchanged, the most successful ones actually evolve to meet changing consumer needs.

In recent years, increased competition, and clutter on store shelves have become ________ concerns. branding packaging product mix service product line

Good service companies focus attention on both customers and employees.Describe what the service-profit chain and internal marketing are, and how they differ from each other.

When a product enters the maturity stage, the company should consider ________. harvesting the product modifying the product, market, or marketing mix divesting the product maintaining the product dropping the product

Some products that have entered the decline stage have been cycled back to the growth stage through ________. repositioning concept testing business analysis innovation management customer-centered product development

How can service providers use a differentiated offer, delivery, and image to avoid competing solely on price?

In the ________ stage of new-product development, products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them. business analysis idea generation concept development and testing product development marketing mix

What is the final step in the new-product development process? idea generation product concept concept testing prototype commercialization

Consider a massage.What service characteristics definitely define the massage as a service?

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. depth length width consistency perimeter

Winnipeg Beach Parties finds that the tastes and preferences of its customers change more rapidly than in the past.The manager should constantly look for external ideas from customers, suppliers, the competition, and the sales force.

Product improvements, product modifications, and original products can all be classified as ________. pioneer products new products product concepts product ideas test products

________ involves designing and producing the container or wrapper for a product. Packaging Product line Service Branding Labeling

What does the term product include?

As a service provider, why might you perceive the buyer-seller relationship in the service encounter to be especially critical?

Scenario Herb Marks built his enterprise on the faithful patronage of four specialty shops and a large contract from Elmore Distributors.But after two years, the maker of novelty pens and pencils had to rethink his strategy when his two-year contract with Elmore ended. erb built a company reputation on the manufacturing and distribution of a variety of wooden writing utensils with customized engravings.Specialty shops loved to display the products in their fancy, lighted showcases, but such specialty shops alone were not profitable.Herb Marks established a brand name, known merely as Marks, and decided to expand on it. erb extended his writing utensil lines to include quills, felt-tip pens, and multiple-cartridge pens that write in different colors.He even added a line of various grades of personalized stationery and business cards.Perhaps Herb's biggest added touch, however, was the addition of two salespeople who would work to explain the diverse array of products offered by Marks, as well as nurture existing accounts. We make an excellent product," Herb Marks stated, "and we honour a good guarantee on everything we sell.But let's face it-we face hundreds of competitors! We need Marks representatives out there to help prospects understand what they should demand in something as simple as a writing tool." he Marks brand is now fast-becoming synonymous with top-notch customer service.Part of the purchase package brought personal visits from the Marks representative, before the purchase and long after. What type of consumer products does Marks manufacture Explain.