Exam 11: Product Concepts

Sara Lee Corporation manufactures desserts, breads, pantyhose, meats, and a variety of other products. These products make up Sara Lee's product

Energizer batteries would be classified as which type of product?

An individual knows that a product exists, but has little information regarding the product and does not seek additional information. In what stage of the product adoption process is that person?

The two major product categories are business and institutional.

Scenario 11.2 Use the following to answer the questions. Megabus is a bus line operating in the Northeast and Midwestern United States, plus in Canada. It offers travelers a cheap alternative to driving and flying between large cities, keeping the fares extremely low yet offering the latest technology. Unlike the traditional Greyhound Lines, Megabus is an express service, and is equipped with Wi-Fi, video screens, headsets, and seat belts. Many buses also run on biodiesel fuel. Additionally, Megabus picks up and drops off people in the centers of cities rather than at inconveniently-located terminals. Patrons can book tickets at Megabus.com, where some fares begin at just $1. Routes are limited, and are offered out of cities such as Toronto, New York, Baltimore, Philadelphia, and Chicago. Recently, its competitor Greyhound, has launched two new bus lines, BoltBus and NeOn, with similar fares and high-tech amenities. A fare on NeOn bus from Buffalo, NY to New York City is $50.00 roundtrip, while the same fare through Greyhound's traditional bus line costs $92.00. The benefit of Greyhound's traditional line is that there are more departure times and more stops in smaller towns along the way. -Refer to Scenario 11.2. When Greyhound launched the BoltBus and NeOn bus lines, this is an example of

A product item is best described as a

Products are classified as being business or consumer products according to the

Sales peak in a product's maturity stage.

When an organization introduces a new product, people do not all begin the adoption process at the same time, nor do they move through the process at the same speed.

When banks add new services during the maturity stage, the objective they are most likely trying to achieve is

When Fiat offers to let qualified buyers test drive the new Fiat Doblo Van, the dealer is trying to stimulate which stage of the product adoption process?

Bread is usually a convenience product.

An individual moves into the adoption stage of the adoption process at the point when he or she

Discuss the concept of "sustainability" and how it is related to product decisions.

Hershey Foods Corp. offers a line of candy that includes Kit Kat, Mr. Goodbar, Krackel, Hershey's Kisses, Reese's Peanut Butter Cups, Rolo, and Twizzlers. These candies best illustrate Hershey's product mix

Facilities, factories, and production lines with very large equipment are all classified as

An accountant buys a supply of pencils to be used in calculating the taxes of other business firms. Based on this information, pencils in this case would be considered what type of product?

New products seldom generate enough sales to bring immediate profits.

Scenario 11.1 Use the following to answer the questions. Gillette shaving razors were first manufactured in 1895. Over the years, Gillette made improvements on their razors offering many "firsts" such as the Mach3, the Sensor, and the Fusion. For many years, women were forced to use razors designed primarily for men, but often marketed to women by offering them in different colors and with minimal modifications. In 1998 Gillette developed the Venus razor, based on the Mach3 but made specifically for women. Gillette promoted the Venus razor heavily, with television ads and other forms of media. The Gillette product line, now owned by Procter & Gamble, continues to introduce new versions of the Venus, such as the Venus Embrace, which has additional blades and other modifications. -Refer to Scenario 11.1. Molly has been using a Bic disposable razor for her shaving needs for the last ten years. She doesn't really see the need to spend more money on razors, but she sees that it is becoming more difficult to find the Bic, and so she is considering the Venus Embrace. Molly is definitely not a(n) ____ in the product adopter categories, and is more likely to be ____.

Advertising used in the decline stage may prolong the life of the product.