Exam 11: Developing and Managing Goods and Services

Venture team members usually come from the same functional areas within the firm.

Functional modifications are usually executed by altering the materials or the production process.

What specific marketing problems are experienced by a provider of high-contact services that are not experienced by a provider of low-contact services?

Describe product positioning. List and explain the bases for positioning.

Service marketers make promises to customers, suggesting that the customer place some degree of trust in the service provider. In this way, service marketers are trying to address the challenge of the service characteristic of

Dylan is interested in determining how customers consider his firm's dietary products compared with its competitors. He begins surveying customers and asking them to state what they think about the products and brands in the dietary industry based on the dimensions of effectiveness and affordability. He will use this feedback to create "ideal points" for what consumers desire in dietary products. He will then compare these "ideal points" with his firm's products as well as other brands in the industry to see how they measure up. Dylan is engaging in

You work in the marketing department of Unilever. Unilever recently announced that it was going to delete certain brands that were no longer meeting profit expectations. You are part of the team to help in this product deletion process. You and your team get together to discuss a brand of soap that has seen sales decrease in recent years. The team discusses how you should delete the product. Each of you writes down comments regarding your thoughts about the brand. The comments can be summed up as follows: "The brand is not doing well, but it still has a loyal following among some consumers." "I think this brand still has some strengths left." Based on these comments, which product deletion strategy should the company adopt?

A _________ works outside established organizational divisions and has greater flexibility to apply innovative approaches to new products and markets.

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

Which of the following statements is true about product support services?

The fact that the first massage Regina gives each day is better than the last massage demonstrates the ____ of services.

Concept testing presents a small sample of potential buyers with a trial version of the new product to determine their initial reactions.

A new variety of Cheetos is initially introduced in Fort Worth, Texas; Raleigh, North Carolina; Chicago, Illinois; and Spokane, Washington. After its initial success, Frito-Lay markets the Doritos in those entire states, then the adjacent states, and finally the entire country. Frito-Lay is using a ____ for its new variety of Doritos.

The ability of a product to provide the same level of quality over time is called

One disadvantage of test marketing a new product is that

Intangibility of services creates promotional challenges because it is difficult to display a service in a store and to demonstrate the quality of a service.

Which of the following is a disadvantage of gradually introducing a product to market?

When Fitz and Isabel analyze the results from the recently completed test market to determine if any changes in the marketing mix are needed, they are in the ____ phase of the new-product development process.

Estimates of sales are an important component of business analysis.

Lauren is interested in upgrading to a new sofa for her apartment. Lauren looks online to see what new models her favorite sofa brand has available and can get information on the style and color; however, she can't actually sit on the sofa to determine its comfort level. Lauren is able to evaluate the ____ modifications to the sofa, but not the ____ modifications.