Exam 13: Products and Services for Consumers

Products from developing countries have the highest quality image.

The majority of services enter foreign markets by licensing, franchising, or direct investment.

What is the largest services export of the United States, ranking behind only capital goods and industrial supplies when all exports are counted?

Blue Lobster considered opening restaurants in China. However, the restaurant's labor union felt that since accepting tips by wait staff is considered in bad taste in China, they would face considerable income loss. Therefore, they demanded to know how employees would be compensated for this since a great portion of a typical wait staff person's compensation comes in the form of tips. Which barrier does a consumer services marketer face in this illustration?

Product ________ is the term used to describe the changes mandated by local product and service standards.

What is green marketing? How does it affect product development?

Green marketing is the term frequently used to identify a marketer's efforts to reduce its dependency on U.S. dollars as the standard for international exchange.

As part of the "green movement," the European Commission has passed legislation to control all kinds of packaging waste throughout the European Union. Two critical issues that affect product development are the control of the packaging component of solid waste and

Services are distinguished from products on the basis of their durability, homogeneity, and separability.

When there are alternative products in a market, all of which meet performance quality standards, the product chosen is the one that meets market-perceived quality attributes.

Sarj, a specialist in product design, is responsible for a product's functional design. With respect to the Product Component Model, in which component category would Sarj's talents most likely be used?

Everett Rogers noted that four crucial elements affect the diffusion of new ideas. What are those elements?

What is one of the top two criteria for global market consumers when making purchase decisions?

From a sociological viewpoint, any idea perceived as new by a group of people is considered as

What is one of the extraneous variables that affects the rate of diffusion of an object?

The support services component of the product component model contains such items as repair and maintenance and availability of spare parts.

In terms of innovation characteristics, a product is said to be compatible if

Since the consumer is automatically angry with the manufacturer when something goes wrong with the vehicle, repair and maintenance has become a concern of the various automobile manufacturers. In which component of the Product Component Model would the management need to make improvements if problems such as this are to be solved?

Kroger grocery stores stock many food items that are sold under the brand name Simple Truth, which is sold exclusively in Kroger stores. This is an example of a ________ brand.

According to the Product Component Model, the instructions for using the product and the warranty of the product are included under the packaging component.