Exam 8: Developing and Managing Products and Services

________ contributes to a product's usefulness as well as to its looks. Style Design Package Brand Functionality

The major product line decision involves ________. line stretching moving the line upward or downward product line filling product line length product packaging

Sales for the time-tried household cleansers made by Brite and New, Inc., have been declining for some time.If these products are typical, sales are declining because of technological advances, shifts in consumer tastes, and lack of raw materials from foreign suppliers.

An example of service variability is that within a given Marriott hotel, one registration-desk employee may be cheerful and efficient, whereas another may be unpleasant and slow.

________ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.Consumers spend much time and effort in gathering information and making comparisons about these products. Shopping products Convenience products Unsought products Industrial products Line extensions

Marketers can prolong the lives of many products in the maturity or decline stages of the PLC, sometimes even moving these products back into the growth stage.How can this happen?

A ________ consists of all the product lines and items that a particular seller offers for sale. product mix brand line consumer mix packaging mix line extension

________ means that services cannot be separated from their providers, whether the providers are people or machines. Service intangibility Service inseparability Service variability Service perishability Service heterogeneity

Quaker produces a variety of cereals.This variety is called its product line.

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. Explain Herb's augmented product in this scenario.

According to the authors, what is the next step in the new-product development process after a product has passed concept and product tests?

Style is a larger concept than design.Design describes the appearance of a product.

The business analysis stage represents the first large jump in financial investment in the new-product development process.

Which of the following best represents the options a company has when a product is declining? maintain or harvest the product harvest or drop the product maintain, harvest, or drop the product maintain or pioneer the product pioneer, harvest, or maintain the product

In the ________ stage, the firm faces a trade-off between high market share and high profit. growth decline maturity introduction commercialization

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. Does organization marketing occur in this scenario Explain.

Product mix ________ refers to the number of versions offered of each product in the line.Crest toothpaste comes in 13 varieties, ranging from Crest Multicare to Crest Baking Soda formulations. length depth height width perimeter

A company's market offering usually includes some support services.

Under what circumstances might it be wise for a company to invest in a test market? when a new product requires a major investment when the product is not working well when management is sure of the marketing program when the product risk is very low when the cost of new-product development is very low

The stage at which new product and marketing programs are introduced into realistic market settings is called concept testing.