Exam 10: Setting Product Strategy

________ describes the product's look and feel to the buyer;it has an advantage of creating distinctiveness that is difficult to copy.

A customer judges a product offering by three basic elements: product features and quality,services mix and quality,and ________.

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

A product is anything that can be offered to a market to satisfy a want or need.

________ is a special case of co-branding involving creating brand equity for materials,components,or parts that are necessarily contained within other branded products.

Betty Crocker cake mixes using Hershey syrup in its cake mixes and "Lunchables" lunch combinations with Taco Bell tacos are examples of what special type of branding?

A pricing system in which there is a "fixed" fee and then a variable "usage" fee is called bundling.

Most products are established at one of four performance levels: low,average,high,or superior.For example,mountain bikes come in a variety of sizes and physical attributes.When a consumer purchases a mountain bike costing $1,000,she/he expects the bike to perform to specifications and to have high ________ meeting the promised specifications.

Companies in the "middle market" should never attempt to stretch their line in both directions.

The customer-value hierarchy consists of the basic product,core benefit,expected product,augmented product,and the consumption system.

Which of the following is a benefit of product mapping?

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?

Smith & Adams Poultry has recently upgraded its transactional model such that its customers (restaurants and hotels)can communicate with its central supply system to indicate purchase volumes,dates,and receive confirmation,through their computer terminals.This is an example of a company differentiating itself versus competition in terms of ________.

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

The five product levels constitute a ________.At each level more customer value is added.

Buyers expect products to have high ________,which is the degree to which all the produced units are identical and meet the promised specifications.

Delivery refers to how well the product or service is brought to the customer.It includes speed,________,and care throughout the delivery process.

Explain the concept of line stretching and the three uses for it.

A company positioned in the "middle" market introduces a lower-priced product line.What type of line-stretching is this?

Industrial goods can be classified as ________,capital items,or suppliers and business services based on their relative cost and how they enter the production process.