Exam 11: Developing and Managing Goods and Services

There is no best approach to managing products.

Client-based relationships are interactions that result in satisfied customers who repeatedly use a service over time.

New-product development does not include planning for advertising.

If Conway School Furniture Company provides standard primary school chairs in new colors to match the interiors of schools, this modification is most likely to be viewed as a(n) ____ modification.

Best Buy differentiates its product offerings from its competition with stores like Sam's, by offering delivery and installation, financing arrangements, and repairs. Best Buy is differentiating through

Quality modification of an existing product aims at changing the product's safety, convenience, or versatility.

To differentiate their products, companies sometimes emphasize the product support services that they offer. This is especially true when

Why and how might an organization delete existing products?

Product managers can be responsible for a single product, a product line, or several products.

Changes that affect a product's versatility, effectiveness, convenience, or safety are called ____ modifications.

Marketers at Starbucks have generated several ideas for new food products. Management has assessed whether these ideas are consistent with Starbuck's objectives and resources. Several product ideas were dropped after this analysis. The next stage of development for the remaining product ideas is

During which stage of new-product development does the firm consider profitability?

Karla tells Jeff that she likes his team's idea about a new three-lace running shoe but wants him to put together some figures regarding anticipated sales, costs, and resulting profits. She is asking Jeff to proceed to which stage of the new-product development process?

In product modification, the first issue to consider is whether

Functional modifications make an existing product more durable.

Product design is the process of creating and designing products so that consumers perceive them as different from competing products.

____ and ____ are important characteristics of quality for consumer markets, and ____ and ____ are important characteristics of quality for business markets.

How a pair of jeans looks, regardless of the price, is an example of styling.

Changes that affect the sensory appeal of a product by altering its taste, texture, sound, smell, or visual characteristics are called ____ modifications.

Product support services are important mainly for products that are mechanical in nature.