Exam 9: Setting Product Strategy and Introducing New Offerings

Which of the following are tangible goods that normally survive many uses?

A ________ is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.

Co-branding involves combining two or more well-known existing brands are combined into a joint product and/or marketing them together in some fashion.

Identify the major reasons why new product failures occur.

Product-mix pricing can involve a number of pricing strategies for the brand manager. List each of these strategies and briefly define each.

A group of products within a product class that are closely related because they perform a similar function, are sold to the same customer groups, are marketed through the same outlets or channels, or fall within given price ranges is known as a ________.

You know that marketers have traditionally classified products based on characteristics of durability, tangibility, and use. You also know that each product type has an appropriate marketing-mix strategy attached. In analyzing your company's products, you decide to list each of these products and the appropriate marketing-mix strategy to understand where your products "fit." List these products and their appropriate marketing-mix strategies.

The stage in the new product process that occurs first is the ________ stage.

Gillette uses ________ pricing when it offers razor handles at a low cost, but places a high markup on the replacement razor blades that fit in the handles.

Joseph, a student of Columbia University, found that many of his classmates had purchased an iPad tablet from Apple. Several months after the product's launch, realizing that the iPad was widely considered to be useful and that many students in the United States had rated it highly, Joseph also decided to purchase an iPad. Which of the following is the adopter group to which Joseph belongs?

As the marketing manager for your firm, you have been approached by your key component manufacturer suggesting that your two firms use "ingredient branding" of a new item. What are the basic goals of ingredient branding?

________ testing is a customer test that involves placing the product within the firm to see how it performs in different applications.

Happy Home Products produces detergents, toothpaste, bar soap, disposable diapers, and paper products. This company has a product ________ of five lines.

The five product levels add more customer value, and together they constitute a(n) ________.

Purchasers of theatre tickets receive a 20 percent discount if they purchase and pay for the full season at one time. This is an example of what type of product-mix pricing?

Explain the concepts of sales-wave research and simulated test marketing.

Industrial goods can be classified in terms of how they enter the production process and their relative costliness. Identify the three groups of industrial goods.

Carlos always buys bread and milk when he goes grocery shopping. In this case, bread and milk are examples of impulse goods.

Armordo is a famous vacuum cleaner brand in Africa. Clara has heard of Armordo and she knows that the product is a success. She has started considering whether or not to buy the vacuum cleaner. What stage of the consumer-adoption process is Clara in?

Most new-product activities are devoted to ________.