Exam 11: Part 1: Product and Promotion: Creating and Communicating Value

Two major advantages of magazine advertising are its low cost and the ability to quickly change the message in response to new opportunities.

Buzz marketing attempts to take advantage of the fact that people tend to listen to the suggestions and advice of people they trust when making purchase decisions.

An advantage of consultative selling is that it involves less time and effort than more traditional personal selling methods.

Suzanne received a coupon in the mail for a new shampoo.If she uses the coupon to purchase the shampoo,the manufacturer's pull strategy has succeeded.

Each media type offers advantages and challenges for marketers as they try reaching consumer markets.

The formal process of soliciting feedback from consumers is accomplished in the testing phase of the product development process.

While the best promotional mix varies among products,all promotional mixes rely more heavily on advertising than on personal selling.

Technological changes often explain why a product enters the decline stage of the product life cycle.

Many products combine elements of both goods and services.

A product is a good or service that a business offers to satisfy consumer needs and wants.

Firms often try to protect their markets in the maturity stage of the product life cycle by introducing new product features.

Copy machines,fax machines,and printers would be classified as maintenance,repair,and operating products.

One effective way for a firm to promote its products is to identify the key points of contact between those products and the target market,and then focus its efforts on those areas.

Idea generation and idea screening are the first two stages of the new product development process.

Large firms typically ensure a consistent product strategy by limiting the source of new product ideas to their research and development department.

The most effective promotion will build relationships between customers and competitors.

The rate of diffusion would indicate the stage in the product life cycle.

A brand is a product's identity that sets it apart from products in the same category that are offered by other producers.

Convenience products are inexpensive goods and services consumers buy frequently with limited consideration.

Luce's Juices has based its message on the concept that its juices are "Tastefully Nutritious." The aim is to let customers know that its products provide a good-tasting way to get needed vitamins and minerals.This is an example of a big idea that is based on a rational premise.