Exam 10: Product and Service Strategies

Discuss the characteristics of shopping products. What are homogeneous and heterogeneous products?

Hershey's introduction of a sugar-free version of its candy bar is an example of line extension.

The goods-services continuum is defined as a product that requires continued interaction with the manufacturer for services that might include maintenance, upgrades, servicing, and repair. Examples of this type of relationship include cars and auto dealerships, or software and technical support.

Consumer products are classified as convenience, shopping, and specialty.

Product line extension refers to the development of items to be included in a product line that are similar to existing items and are intended as substitutes for them.

The decision about whether to delete products from the product line is usually faced during the late growth and early maturity phases of the product life cycle.

What is product mix? How do marketers typically measure product mix?

Which of the following comes closest to providing a pure good?

Match each item to the statement or sentence listed below. a.marketing mix b.benchmarking c.product d.convenience product e.shopping product f.specialty product g.product line h.product mix i.unsought product j.maturity stage k.raw materials l.total quality management m.product life cycle n.installations o.services p.impulse goods q.wholesaler r.business-to-business (B2B) s.supplies t.emergency goods u.component parts v.staples w.line extension -Channel intermediaries that take title to goods they handle and then distribute these goods to retailers, or business or B2B customers are known as _____.

Richard generally frequented Brewz, a coffeehouse chain, when he was in Florida. However, when his company shifted him to China, he found that the Brewz in Shanghai does not offer the same quality service. Which of the following best explains this differential perception in service quality?

Purchasers of component parts and materials need regular, continuous supplies of uniform-quality products.

Extensive planning time is required for the purchase of supplies.

The majority of firms today market only one product.

​The service sector of the Canadian economy is one-third as large as the manufacturing sector.

A local gas station has installed a new food and beverage mart. Since this represents a service outside the gas station's primary business, it falls outside the broad view of product.

When Sara developed a headache due to stress just before an important sales presentation, she quickly bought an aspirin from a nearby pharmacy. What type of product did Sara buy?

Identify and describe the stages of the product life cycle.

A slotting allowance is money paid by a producer to a retailer to guarantee display of its merchandise.

Service transactions seldom require interaction between buyer and seller at the production and distribution stages.

The three main activities in benchmarking are identifying processes that need improvement, comparing internal processes against similar activities of industry leaders, and implementing changes to improve quality.