Exam 12: Setting Product Strategy

Studying how consumers shop, how they use a particular product or service, and how they dispose of the product when consumed is important for marketers. This information forms the basis of product strategy. Define the consumption system and identify the two upcoming product strategies that are affected by this knowledge.

Which of the following is a benefit of product mapping?

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

Sellers must label their products. Labels serve many purposes beyond just "naming" the product. List the additional services provided by a product's label.

A product line can also be lengthened by adding more items within the present range. There are several motives for line filling. Which of the following is one of them?

What occurs when any company lengthens its product line beyond its current range?

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."

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

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

How a consumer shops for organic foods and how he or she uses and disposes of the product is part of the consumers' ________ that is important for marketers to consider.

Explain the concepts of product-mix width, length, depth, and consistency.

When a physical product cannot easily be differentiated, the key to competitive success may lie in adding valued services and improving quality. Identify the six main service differentiators.

Because ________ are purchased frequently, marketers should make them available in many locations, charge only a small markup, and advertise heavily to induce trial and build preference.

What types of goods are purchased frequently, immediately, and with minimum effort by the consumers?

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

The ________ of the product mix refers to the total number of items in the mix.

Supplies can be classified as two kinds: heterogenous supplies and homogeneous supplies.

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.

Marketers have traditionally classified products on the basis of characteristics such as durability, tangibility, and use.

________ refers to educating the customer's employees to use the vendor's equipment properly and efficiently.