Exam 10: Setting Product Strategy

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

A group of products within a product class that are closely related because they perform a similar function,are sold to the same customer groups,are marketed through the same outlets or channels,or fall within given price ranges is known as a ________.

The potential disadvantages of ________ are the risks and lack of control from becoming aligned with another brand in the consumers mind.Consumer expectations about the level of involvement and commitment are likely to be high,so unsatisfactory performance could be very negative for the brands involved.

Realizing that although household products is a huge category,taking up an entire supermarket aisle or more,it is an incredibly boring one,the founders of Method Products designed a sleek,uncluttered dish soap container that also carried functional advantages,such as ease of dispensing soap and cleaning.Method is competing in the crowded market for household products on the basis of superior ________.

In the rapidly changing market of today's world,product lines must be continuously updated or modernized.

In offering a product line,companies normally develop a ________ and modules that can be added to meet different customer requirements.

Products such as insurance,cemetery plots,and smoke detectors are examples of ________ that are products that the consumer does not know about or does not normally think of buying.

Some service firms often engage in ________,consisting of a fixed fee plus a variable usage fee.

What are the situations in which guarantees are most effective?

Which of the following are tangible goods that normally survive many uses?

The four product-mix dimensions (length,width,depth,consistency)permit the company to expand its business.

Many sellers offer either general or specific guarantees.Guarantees reduce the buyer's ________ risk.

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 ________.

In ________,the seller offers goods both individually and in bundles and often charges less for the "bundle" than for the individual products.

________ are formal statements of expected product performance by the manufacturer.

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.

If the Ford GT is designed to accelerate to 50 miles per hour within 10 seconds,and every Ford GT coming off the assembly line does this,the model is said to have high ________.

Differentiating on ________ is important for companies with complex products and becomes an especially good selling point when targeting technology novices.

Companies normally develop ________ rather than single products and require sellers to establish perceived quality differences between price steps within it.

To avoid "feature fatigue," companies must be careful to prioritize those features that are included and find unobtrusive ways to provide information about how consumers can use and benefit from the feature.