Exam 11: Developing and Managing Goods and Services

When determining how a product is conceived, planned, produced, and even its physical appearance and its specific characteristics, one is really talking about the product's

In general, differences between goods and services are determined by the

Kyle Bolger of U.S. Hospital Supply Corporation has responsibility for managing the marketing activities for products aimed at nursing homes and extended care facilities. Kyle's job is that of a(n)

Many of the so-called new products that are launched each year are in fact line extensions.

The test-marketing stage

Quality modifications never seek to reduce product quality.

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs is

Line extensions are less common than other new products because line extensions are more expensive and more risky.

Kathy Adkins, owner of Adkins Styling Salon, looks at the day's appointment schedule and notices that it is completely full. She wishes some of the empty slots from earlier in the week were available on this Saturday afternoon. Her thoughts deal with the ____ characteristic of services.

Concept testing gives reliable feedback, but at a relatively high cost.

Breakeven analysis is a tool that marketers are likely to employ during the ____ stage of the new-product development process.

Victor thinks that a Lexus coupe is a quality vehicle, yet compared to a Mercedes Benz, he feels the quality of a Lexus is not as high. This demonstrates that the dimension of ____ is relative or difficult to describe without a basis of comparison.

Lauren is a concert promoter who works for pop star Justin Timberlake. She works very hard to make sure most of Justin's concerts are sold out because she understands the concept of perishability, which means

The product development stage determines the technical feasibility of producing the new product.

A brand manager is a type of product manager.

List and discuss the major phases of the new-product development process.

The members of a venture team come from

What is the primary distinction between a line extension and a product modification?

A runout approach to product deletion lets the product decline without changing the marketing strategy.

Schwinn adds features to its bicycles no other companies offer in order to create