Exam 11: Developing and Managing Goods and Services

Inseparability also means that customers expect a service to be provided in a certain way by a specific person.

If the manufacturer of Cool Whip were to introduce an orange-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of

Which of the following products associated with weddings is most likely to be considered a service?

Product failure is a concern of all marketers. Which of the following phases of new-product development is best able to measure this concern?

Which of the following is the best definition of product features?

Delivery, installation, financing, repair, warranties, and guarantees are all examples of product features.

Scenario 12.2 Use the following to answer the questions. Jonathan Moore, president of Polar Manufacturing Company, has just reviewed the performance reports for the previous year and sees that there are some areas in which the company needs to improve. He specifically feels they could do a better job in managing Polar's product mix. Jonathan calls a meeting of all the managers responsible for each of the product lines that Polar currently manufactures. The group decides that they need to eliminate the complete industrial product line of ice chests, and plan to do so by letting the product decline without any changes in the marketing strategy or product. The group also decides to delete Polar's line of personal thermal underwear, however this product is to be discontinued within the week due to its unprofitability. While discussing these strategies, the group has also uncovered several customer groups for which new products could be developed. The managers decide to assemble a group of people from all functional areas of the company and give them the responsibility for all aspects of the new-product development. -Refer to Scenario 12.2. Because some products are not doing well, Jonathan Moore thinks that the company should set up a procedure to evaluate each product so that management will know when and how a product should be discontinued. He is suggesting a

Business analysis provides a tentative sketch of a product's profitability.

New products are classified solely as innovations that have never been sold by any organization.

Discuss the importance of services in the U.S. economy, and explain the growth of services in our economy.

The goal of building client-based relationships is to satisfy customers so well that they become very loyal and would be unlikely to switch to competitors.

Relatively few product ideas are put into the product development stage.

Which of the following is the best example of a functional modification?

Systematic reviews of a company's product mix aid in determining when product deletion is necessary.

Outback Steakhouse wants to expand its line of food products. The managers sent surveys to customers to determine which food items would appeal to them. Outback is currently in the ____ phase of new-product development.

The intangibility aspect of a service means that

Marketers of a particular brand of ice cream have decided to delete their line of ice cream bars. They will do so by letting the product decline and not change the current marketing strategy. This method of deletion is called

Scenario 12.2 Use the following to answer the questions. Jonathan Moore, president of Polar Manufacturing Company, has just reviewed the performance reports for the previous year and sees that there are some areas in which the company needs to improve. He specifically feels they could do a better job in managing Polar's product mix. Jonathan calls a meeting of all the managers responsible for each of the product lines that Polar currently manufactures. The group decides that they need to eliminate the complete industrial product line of ice chests, and plan to do so by letting the product decline without any changes in the marketing strategy or product. The group also decides to delete Polar's line of personal thermal underwear, however this product is to be discontinued within the week due to its unprofitability. While discussing these strategies, the group has also uncovered several customer groups for which new products could be developed. The managers decide to assemble a group of people from all functional areas of the company and give them the responsibility for all aspects of the new-product development. -Refer to Scenario 12.2. The group of people that management has assembled to take on the task of new-product development is best described as

Coca-Cola has expanded to Diet Coke, Cherry Coke, and Caffeine-free Coke, to name a few. These are examples of

Three major ways in which marketers engage in product differentiation are