Question 1

Firms should design the highest performance level possible for their products.

Accepted Answer

A) True 
 B)False

Question 2

Marketers must see themselves as benefit providers.For example,when a shopper purchases new shoes,he/she expects the shoes to cover his/her feet and allow him/her to walk unobstructed.This is an example of what level in the consumer-value hierarchy?

Accepted Answer

A)  pure tangible good 
B)  basic product 
C)  augmented product 
D)  potential product 
E)  generic product 
A)  pure tangible good 
B)  basic product 
C)  augmented product 
D)  potential product 
E)  generic product

Question 3

Capital items are long-lasting goods that facilitate developing or managing the finished products.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Packaging is all the activities of designing and producing the container for a product.

Accepted Answer

A) True 
 B)False

Question 6

The ________ of the product mix refers to how closely related the various product lines are in end use,production requirements,distribution channels,or some other way.

Accepted Answer

A)  consistency 
B)  depth 
C)  width 
D)  length 
E)  composition 
A)  consistency 
B)  depth 
C)  width 
D)  length 
E)  composition

Question 7

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.

Accepted Answer

This is called the user's total consumpt

Question 8

To be branded,physical products need not be differentiated.

Accepted Answer

A) True 
 B)False

Question 9

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.

Accepted Answer

A)  value proposition 
B)  consumption system 
C)  value system 
D)  quality perception 
E)  value chain 
A)  value proposition 
B)  consumption system 
C)  value system 
D)  quality perception 
E)  value chain

Question 10

________ describes the service program for helping customers keep purchased products in good working order.

Accepted Answer

A)  Returns 
B)  Ordering ease 
C)  Installation 
D)  Maintenance and repair 
E)  Delivery 
A)  Returns 
B)  Ordering ease 
C)  Installation 
D)  Maintenance and repair 
E)  Delivery

Question 11

________ is a measure of the probability that a product will not malfunction or fail within a specified time period.

Accepted Answer

A)  Reparability 
B)  Durability 
C)  Reliability 
D)  Specialty 
E)  Compatibility 
A)  Reparability 
B)  Durability 
C)  Reliability 
D)  Specialty 
E)  Compatibility

Question 12

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

Accepted Answer

The width of a product mix refers to how

Question 13

Companies may wish to implement a(n)________ to achieve more growth,to realize higher margins,or simply to position themselves as full-line manufacturers.

Accepted Answer

A)  up-market stretch 
B)  rebranding plan 
C)  outsourcing strategy 
D)  disintermediation policy 
E)  vertical integration strategy 
A)  up-market stretch 
B)  rebranding plan 
C)  outsourcing strategy 
D)  disintermediation policy 
E)  vertical integration strategy

Question 14

When the physical product cannot be easily differentiated,the key to competitive success may lie in adding valued services and improving their quality.The main service differentiators are ordering ease,delivery,installation,________,customer consulting,maintenance,and repair.

Accepted Answer

A)  technology intensity 
B)  responsivity 
C)  ease of use 
D)  customer training 
E)  adaptability 
A)  technology intensity 
B)  responsivity 
C)  ease of use 
D)  customer training 
E)  adaptability

Question 15

Capital items are long-lasting goods that facilitate developing or managing the finished product.They include two groups: installations and ________.

Accepted Answer

A)  natural products 
B)  component materials 
C)  operating supplies 
D)  equipment 
E)  processed materials 
A)  natural products 
B)  component materials 
C)  operating supplies 
D)  equipment 
E)  processed materials

Question 16

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

Accepted Answer

A)  width 
B)  length 
C)  depth 
D)  breadth 
E)  range 
A)  width 
B)  length 
C)  depth 
D)  breadth 
E)  range

Question 17

Durable products normally require less personal selling and service and less seller guarantees than nondurable goods.

Accepted Answer

A) True 
 B)False

Question 18

Co-branding is when two or more well-known existing brands are combined into a joint product and/or marketed together in some fashion.

Accepted Answer

A) True 
 B)False

Question 19

Guarantees are most effective in two situations.The first is when the company or products are not well known and the second is when the product's quality is ________ to competition.

Accepted Answer

A)  not known 
B)  different 
C)  inferior 
D)  equivalent 
E)  superior 
A)  not known 
B)  different 
C)  inferior 
D)  equivalent 
E)  superior

Question 20

You have been asked to prepare a product-line analysis for your company's stable of products.Why is it important for product-line mangers to do a product-line analysis?

Accepted Answer

Product-line managers need to know the s

Firms should design the highest performance level possible for their products.

Marketers must see themselves as benefit providers.For example,when a shopper purchases new shoes,he/she expects the shoes to cover his/her feet and allow him/her to walk unobstructed.This is an example of what level in the consumer-value hierarchy?

Capital items are long-lasting goods that facilitate developing or managing the finished products.

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

Packaging is all the activities of designing and producing the container for a product.

The ________ of the product mix refers to how closely related the various product lines are in end use,production requirements,distribution channels,or some other way.

To be branded,physical products need not be differentiated.

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.

________ describes the service program for helping customers keep purchased products in good working order.

________ is a measure of the probability that a product will not malfunction or fail within a specified time period.

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

Companies may wish to implement a(n)________ to achieve more growth,to realize higher margins,or simply to position themselves as full-line manufacturers.

When the physical product cannot be easily differentiated,the key to competitive success may lie in adding valued services and improving their quality.The main service differentiators are ordering ease,delivery,installation,________,customer consulting,maintenance,and repair.

Capital items are long-lasting goods that facilitate developing or managing the finished product.They include two groups: installations and ________.

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

Durable products normally require less personal selling and service and less seller guarantees than nondurable goods.

Co-branding is when two or more well-known existing brands are combined into a joint product and/or marketed together in some fashion.

Guarantees are most effective in two situations.The first is when the company or products are not well known and the second is when the product's quality is ________ to competition.

You have been asked to prepare a product-line analysis for your company's stable of products.Why is it important for product-line mangers to do a product-line analysis?

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Creating Long-term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning and Competing Effectively

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Managing Marketing in the Global Economy

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Exam 10: Setting Product Strategy

Firms should design the highest performance level possible for their products.

Marketers must see themselves as benefit providers.For example,when a shopper purchases new shoes,he/she expects the shoes to cover his/her feet and allow him/her to walk unobstructed.This is an example of what level in the consumer-value hierarchy?

Capital items are long-lasting goods that facilitate developing or managing the finished products.

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

Packaging is all the activities of designing and producing the container for a product.

The ________ of the product mix refers to how closely related the various product lines are in end use,production requirements,distribution channels,or some other way.

To be branded,physical products need not be differentiated.

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.

________ describes the service program for helping customers keep purchased products in good working order.

________ is a measure of the probability that a product will not malfunction or fail within a specified time period.

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

Companies may wish to implement a(n)________ to achieve more growth,to realize higher margins,or simply to position themselves as full-line manufacturers.

When the physical product cannot be easily differentiated,the key to competitive success may lie in adding valued services and improving their quality.The main service differentiators are ordering ease,delivery,installation,________,customer consulting,maintenance,and repair.

Capital items are long-lasting goods that facilitate developing or managing the finished product.They include two groups: installations and ________.

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

Durable products normally require less personal selling and service and less seller guarantees than nondurable goods.

Co-branding is when two or more well-known existing brands are combined into a joint product and/or marketed together in some fashion.

Guarantees are most effective in two situations.The first is when the company or products are not well known and the second is when the product's quality is ________ to competition.

You have been asked to prepare a product-line analysis for your company's stable of products.Why is it important for product-line mangers to do a product-line analysis?

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Creating Long-term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning and Competing Effectively

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Managing Marketing in the Global Economy

Filters