Exam 10: Product Concepts

Which type of warranty is a written guarantee?

PayPal allows you to pay for items that you buy at online sites such as eBay without exposing your credit card or bank account number.To use PayPal you simply select PayPal when checking out at the online store,and then allow PayPal to pay directly from a credit card or from your PayPal balance or linked bank account.PayPal would be classified as a:

Under the _____,all sales have an implied warranty.

Bang & Olufsen make some of the best sound systems in the world.After years of development,Bang & Olufsen recently released its new BeoLab 5 speakers.For audiophiles who demand the best in audio equipment,the $19,950 Bang & Olufsen BeoLab 5 speakers represent an example of a(n)_____ product.

Choice Homes,Inc. Choice Homes,Inc.,based in Texas,built its reputation by building high-quality new homes,often at prices less than "used" ones.Choice Homes used mass-purchasing power,innovative high-tech communications among employees to coordinate the building process,and other entrepreneurial strategies to hold costs down.Its homes are primarily targeted at first-time homeowners-to-be in an effort to get people out of apartments so they can experience the "American Dream" of home ownership for the same price as rent.Choice Homes later developed the "Choice Classic" brand name for higher-end homes targeted at wealthier dual-income couples.The Choice Classic name was designed to capitalize on the reputation of Choice Homes,especially for current Choice home owners who are ready to "move up" to a larger home.Recently,Choice Homes started a third line of homes called "Reflections," which are expensive,custom-designed homes located in exclusive,prestigious neighborhoods. -Refer to Choice Homes,Inc.The three different brands of homes (Choice,Choice Classic,and Reflections)represent the firm's:

Services are considered inseparable because most services cannot be felt or touched in the same way most goods can be sensed.

Which type of product modification is an aesthetic product change?

Hardie Siding Products James Hardie began selling fiber cement siding products in the United States in 1989 to leading builders,lumberyards,and home improvement centers.Even though ads guaranteed the product would not rot or crack for 50 years,many builders hated the product.It was heavy to install,and it showed every flaw in a bad framing job.In 1997,Hardie decided to run ads in traditional lifestyle magazines and emphasize the emotional appeal of houses made with strong,weather-resistant materials.Soon consumers began asking their builders or remodelers to use the product.Trade ads were used to explain how builders could take advantage of the interest created by the ads in lifestyle magazines.By 2000,the Hardieplank was the number one brand siding in North America.James Hardie is now the third most recognized brand of building material in the world. -Refer to Hardie Siding Products.Hardieplank siding is best described as a(n)_____ product.

Alberto Culver Company The Alberto Culver Company manufactures a wide variety of products from hairspray to seasonings.A large number of these products are intended for personal use.The company is divided into three key divisions: toiletries,household,and professional.The toiletries division sells hair care brands such as Alberto VO5,Alberto,and Bold Hold.Additionally,this division handles the FDS line of feminine deodorant products.The household division sells brands such as Mrs.Dash seasonings,Papa Dash salt substitute,Baker's Joy,Sugar Twin,and Static Guard.The professional division sells brands such as Tresemme,TCB,and Indola.Each of the brands listed above contains many individual products with varying formulations,such as the Alberto styling products,which include mousse,gel,spritz,spray-in conditioner,and hairspray. -Refer to Alberto Culver Company.Why would the Alberto Culver Company be interested in increasing its product depth?

"Girls Just Wanna Have Funds" is a Washington,D.C.support group that consist of mostly young women that offers tips on budgeting and debt relief.Since you cannot evaluate the quality of the financial advice until after you have received it,this is an example of the _____ characteristic of service.

Convenience products,though inexpensive,still require considerable shopping effort by buyers.

Compare and contrast the three types of product modifications and give an example of how each could be implemented.

A go-cart manufacturer recently added shock absorbers to make the ride in its go-carts smoother.It has not changed its prices.This is a(n)_____ modification.

Heterogeneity of services means the quality of a service may not be consistent.

A company that wants to market its product globally has only two branding strategies available: either use the brand name everywhere or develop a new brand name for each different market.

Insurance companies are examples of service organizations.

A(n)_____ refers to brands where at least one third of the product is sold outside the home country.

Choice Homes,Inc. Choice Homes,Inc.,based in Texas,built its reputation by building high-quality new homes,often at prices less than "used" ones.Choice Homes used mass-purchasing power,innovative high-tech communications among employees to coordinate the building process,and other entrepreneurial strategies to hold costs down.Its homes are primarily targeted at first-time homeowners-to-be in an effort to get people out of apartments so they can experience the "American Dream" of home ownership for the same price as rent.Choice Homes later developed the "Choice Classic" brand name for higher-end homes targeted at wealthier dual-income couples.The Choice Classic name was designed to capitalize on the reputation of Choice Homes,especially for current Choice home owners who are ready to "move up" to a larger home.Recently,Choice Homes started a third line of homes called "Reflections," which are expensive,custom-designed homes located in exclusive,prestigious neighborhoods. -Refer to Choice Homes,Inc.Kurt McKinney has just received a large inheritance and wants to have his "dream" home built.He knows exactly the architectural design he wants.He wants a particular Reflections home.The type of consumer product he wishes to buy is best classified as a(n):

Lands' End,a catalog retailer,offers a written satisfaction guarantee on all merchandise it sells.In other words,Lands' End gives its customers a(n)_____ warranty.

Given the many differences in majors available,living options,and image differences,universities would be classified as a heterogeneous shopping product for most people.