Exam 10: Product and Service Strategies

In which stage of the product life cycle does a firm start to realize substantial profits from its investments?

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 -An assortment of product offerings sold by a firm is called the _____.

At what stage of the product life cycle should a viable marketing strategy promote the differences that separate competing merchandise?

One way to distinguish a good from a service is that a service is inseparable from the service provider.

Some wholesalers are called "industrial distributors." What are these wholesalers a major vendor of?

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 -A product that contributes directly or indirectly to the output of other products for resale is also known as a(n) _____ product.

What type of product is marketed to consumers who may NOT yet recognize a need for them?

What does a consumer expect when purchasing convenience products?

Which business product would be classified as an installation?

Price typically does not dominate purchase decisions for installations in the business market. The purchasing firm buys such products on the basis of efficiency and performance.

Which product relies least on location of purchasing opportunity?

Benchmarking seeks to identify how business leaders recognize superior marketing performance in their industries and develop a system for continuously comparing and measuring performance against outstanding performers.

Services are perishable and cannot be stockpiled or inventoried.

What distinguishes a service from a 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 -A product that a consumer purchases after comparing competing offerings is called a(n) _____.

What does the combination of product lines represent?

Which of the following comes closest to providing pure service?

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 -A(n) _____ is marketed to consumers who may not yet recognize the need for it.

The assortment of product lines and individual product offerings that a company sells is known as its product cluster.

Beaux, a clothing boutique store, specializes in high-end evening wear for women. Most of their dresses are custom-made for their elite customers. What type of products is Beaux offering?