Exam 15: Product and Supply Chain Management

Important rules of logo design include all of the following except?

Key factors to consider when conducting the business analysis phase of the new product development process include all of the following except

In the business analysis stage of the product development process, every new-product idea must be carefully analyzed in terms of several financial considerations.

Packaging is a significant tool for increasing the value of the total product by creating a distinctive impression.

When a small firm operates with more than one channel of distribution, it is said to be using

Written Instruments, a maker of plastic ballpoint pens targeted at school-aged children, decided to market an additional line of pens. However, this small business was concerned that the introduction of a new ballpoint pen would reduce sales of the existing product in its current market niche. Therefore, Written Instruments created a high-quality, felt-tip pen targeted at business executives in order to expand sales. This company was employing a ____ product strategy.

Intermediaries exist because

The scope of physical distribution covers all of the following except

If a firm extends a janitorial cleanser from the industrial market to reach the home market, it is following a one product/multiple markets strategy.

You Make the Call-Situation 2 Tomboy Tools are just that-tools for women who want to do their own home improvement and repair projects. Friends Sue Wilson, Mary Tatum, and Janet Rickstrew, all of Denver, Colorado, were concerned that the tools they used for home repair projects were designed for men, not women. So, they started Tomboy Tools, whose goal is to offer "professional grade tools for women, along with the information they need to know on how to use them," says Wilson. What is most interesting is how the products are sold - exclusively at in-home workshops led by Tomboy Tools' independent sales representatives. Instead of Tupperware or cosmetics, guests see basic home repair tools in action and learn simple home repair and improvement techniques. They chose the in-home approach to market their products because of its proven success with consumers - particularly females. (Source: Susan Hirshon, The Costco Connection, April 2005, p. 15.)

The United States Patent and Trade Office rejected Microsoft's 1990 effort to gain exclusive rights to the name Windows. This decision illustrates the fact that

It is important that small firms gain a competitive advantage, which cannot be quickly imitated.

In general, the most appropriate and effective product strategy to use in the initial stage of a small business is the _____ product strategy.

How can a successfully growing firm fall into a "growth trap"?

A firm's competitive advantage will never

Describe a warranty, and talk about why a firm would not put a warranty on a product.

The four primary means firms can use to protect their tangible assets are trademarks, patents, copyrights, and trade dress.

Asmall firm's "special signature" is called a logo.

Delivery terms specify which party pays the freight costs, selects carriers, bears the risk of damage, and selects the modes of transport.

Despite the limited resources of a typical small business, this type of firm should formalize the product development process.