Exam 5: Differentiation Advantage

During the process of mapping the consumption chain of a product,Nina looks at the methods followed by companies which send their engineers to check laptops when they detect that a possible bug could be affecting a system.Which of the following questions does this example address?

When a company mass-produces the various modules of a product and then allows customers to select which modules will be combined together,it is known as _____.

Crimson Corp.,designs its products based on demographics of its customers.Jaded Inc.designs its products based on product attributes.Which of the following is likely to be true in this case?

When products are differentiated through marketing,via advertisements,promotions,and other marketing activities,it is known as _____.

Kim,a consumer,is in the final stage of selecting a product.Which of the following is is true if her actions follow the typical consumption chain?

Tangerine Inc.differentiates its products by building a brand image,whereas Cloud Inc.does not rely on brand image to differentiate its products.Which of the following statements is likely to be true in this case?

The research and development department of Chi Inc.studies the buying patterns of its customers.If it starts with the customers in the first step of the consumption chain,which of the following does it most likely study?

Suede Inc.,a company that manufactures bags,makes extensive use of advertising to compete in the market.The features of its product are similar to existing products in the market.It uses other promotional tools such as discounts,coupons,and rebates to increase its customer base.In this scenario,which of the following elements does Suede rely on to differentiate its products?

Time-Threads Inc.sells storage devices,such as memory cards,thumb drives,and external hard disks.Which of the following is most likely true if it achieves product differentiation by designing its products to perform more jobs than its competitors?

Explain product differentiation.

Which of the following is true of product differentiation?

Saturn Inc.,a manufacturer of home appliances,familiarizes customers with its products through advertising.Apart from attracting new customers,it offers quick demos in mass media that assist existing customers.Which of the following stages in the consumption chain is depicted in this scenario?

At Red Inc.,a retail store,Mark,the manager,maps the consumption chain to understand the buying patterns of the consumers.He has identified how consumers become aware of their needs for products or services.Which of the following is he likely to do next?

Gear-up Inc.,an apparel brand,differentiates its products by manufacturing jeans that last longer than those of other brands.The fabric is durable and does not wear out even after years of regular use.This attracts customers despite Gear-up's high prices.Which of the following elements of product differentiation is Gear-up primarily providing?

Which of the following is necessary for a product to be considered reliable?

Define mass customization and explain what companies must do in order for this method to be successful.

Leo Foods is an eatery that sells organic food.It opens a number of outlets across the state,creates a website that makes ordering and take-away easy,and also does not charge a delivery fee for its regular customers.Which step of the consumption chain does this scenario depict?

Leo Corp.,a mobile manufacturer,attains competitive advantage over its rivals by providing unique features in the phones they manufacture,such as a 3000 mAh battery,facial recognition software,and customized applications.Which of the following is Leo trying to attain through these additional product features?

Tina prefers buying products for the emotional dimension of the job they perform rather than its functional attributes.Jay prefers to buy products for the social dimension of the job they do rather than its functional or emotional attributes.In this case,which of the following is most likely to be true?

Companies focus most on establishing brand image when: