Exam 10: Product and Service Strategies

Which of the following correctly matches consumer factors and marketing mix factors in the consumer products classification system?

What is advertising that warns consumers about the dangers of overexposure to the sun, even during winter months, an attempt by marketers of sunscreen to do?

The ISO 9001:2008 standards were developed in Asia to assist businesses in selecting suppliers that have met certain specifications for quality.

Depth of product mix refers to the variations of each product that a firm includes in its mix.

What does external analysis, conducted during the process of benchmarking, involve?

List the six factors that distinguish services from goods.

Homogeneous products can be easily differentiated, often using obvious characteristics such as style, colour, and fit.

Service firms may serve consumer markets or business markets, but not both.

Which of the following involves measuring quality by comparing the company's performance against the industry leaders?

In what process do products pass through a series of stages from their initial appearance to their decline?

Supplies are also called MRO items.

What are products that are considered capital investments but whose useful lives are generally much shorter than those of installations known as?

What are purchases included with a car, such as spark plugs, batteries, and tires, examples of?

The majority of consumer products can be classified as unsought products.

Excellence Canada defines international criteria for quality management and quality assurance.

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 -The convenience goods and services that consumers constantly replenish to maintain a ready inventory are called _____.

What is a series of related products offered by one company called?

In which stage in a product lifecycle does the public become acquainted with the item's merits and begins to accept it?

During the initial stage of the product life cycle, firms work to stimulate demand for the new market entry.

What are the three categories of convenience products? Give examples of each type.