Exam 7: Product-Selling Strategies That Add Value

Positioning is the set of benefits and values the company promises to deliver to customers to satisfy their needs.

The first step in establishing a product price is to determine the firm's ________ objectives.

Which service-quality dimension refers to the knowledge and courtesy of employees?

________ refers to the act of developing a concept of the product in the customer's mind.

Mature and well-established products are usually characterized by intense competition as new brands enter the market.

Value creation during the transactional sale is considerable.

Advertising directed toward a mass market is usually a good way to position a complex product.

For a growing number of customers,short-term savings that result from low prices are more important than long-term value.

Which of the following statements about pricing policies is most likely true?

Which type of price discount would most likely be offered by a ski lodge during the summer months?

Salespeople have assumed an important and expanding role in differentiating products.

Your ability to separate yourself and your product from that of your competitors is referred to as:

Creating a value proposition is a way of:

A grain supplier to cattle farmers has developed a new grain mixture, Green Grain, with nutritional additives that approximate the nutrient mixture in grass. Farmers who feed their cattle this enriched grain can sell beef and milk that taste similar to grass-fed beef and have many of the nutritional benefits to humans of grass-fed beef or dairy at a significantly lower production cost than actual grass-fed beef or dairy. -Which product-selling strategy would most likely be LEAST effective for selling Green Grain?

A designer releases her fall line of handbags, including one that retails for $6,000. This bag is a limited edition; only 500 will be produced, and orders will only be accepted from clients who have previously purchased a handbag from the designer. Customers will be put on a waitlist in the order in which the handbag orders are received -How is this handbag being positioned and differentiated from other handbags similar in manufacturing and look?