Exam 11: Product and Promotion: Creating and Communicating Value

Augmented products are included in buy-one-get-one-free offers or when restaurants allow patrons to drop business cards in a large fishbowl for a chance at a free meal.

Product differentiation includes real or perceived differences that serve to distinguish one good or service from the next.

What are sponsorships, and how are they used as a promotional tool? Give examples of some sponsorships you have seen. What impact has it had on your impression of the company and/or its products?

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

What is one advantage cable television offers advertisers over broadcast television?

The greatest advantage of publicity is that it is credible in the minds of consumers.

Which of the following reduces the risk of purchasing something new by allowing consumers to try the product before making a purchase?

Customer benefits occur when a product is well-designed and meets the needs and wants of consumers.

Which of the following is an example of continuous innovation?

Two key success factors in the commercialization stage of product development are gaining distribution and launching promotion.

The makers of M&M candies change the colour coating on a seasonal basis. What does this product modification represent?

As it becomes easier for potential customers to observe others using a new product and as the product's relative advantages become greater, which rate tends to be higher?

To create a coordinated marketing message, marketers must have information about the consumer and which of the following?

Apple's decision to introduce iPods in different sizes, colours, and storage capacities is an example of line extension.

What should be the first step before taking a big idea to a foreign market?