Exam 8: Developing and Managing Products and Services

A ________ is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges. product line line extension private brand convenience product product bandwidth

Because so many purchase decisions are made in stores, a product's packaging may be a seller's last and best chance to influence consumers.

Product is a key element in a company's ________, which may, at one extreme, consist of pure tangible goods or, at the other extreme, pure services. market offering brand equity brand extension co-branding core customer value

Shopping products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.

Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is ________. test marketing focus group surveys commercialization post-testing business analysis

What may be learned in a test market?

The purpose of idea generation is to create a ________ of ideas.The purpose of succeeding stages is to ________ that number. small number; reduce small number; increase large number; increase large number; reduce limited number; sustain

Most manufactured materials and parts are sold directly to ________.Price and service are the major marketing factors; branding and advertising tend to be less important. consumers industrial users government buyers co-branders wholesalers

You have recently sent a proposal for a fictional novel to an editor at a major publishing firm.The editor, alone, will carry out the idea screening.Why might you feel this process is unfair?

________ is one of the marketer's major positioning tools because it has a direct impact on product or service performance; it is therefore closely linked to customer value and satisfaction. Packaging Product quality Total quality management Specialty marketing Positioning

In which stage of the PLC would promotional expenditures most likely increase as a company attempts to react to increasing competition? product development introduction growth maturity decline

A service is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

How might measuring service quality be more difficult than measuring product quality?

The service-profit chain is the set of all product lines and items that a particular seller offers for sale.

Name and describe three decisions that companies make regarding their individual products and services.

According to your text, which of the following is perhaps the most important external source of new-product ideas? engineers customers competitors trade magazines, shows, and seminars distributors and suppliers

Customer retention is perhaps the best measure of quality-a service firm's ability to hang on to its customers depends on how consistently it delivers value to them.

Products and services fall into two broad classifications based on the types of consumers that use them.Which of the following is one of these broad classes? industrial products specialty products supplies and services materials and parts convenience products

Through ________, the service firm trains and motivates its customer-contact employees and supporting service people to work as a team to provide customer satisfaction. service inseparability service intangibility service variability internal marketing external marketing

How might a flower shop engage in line stretching?