Exam 11: Developing and Managing Goods and Services

The business analysis stage of new-product development explores how well the new product fits in with the firm's existing product mix.

Compare and contrast a product manager and a brand manager.

When a firm identifies old technologies that can be exploited in new ways or develops new business models to give customers more than they've come to expect from current products in a specific market, it is engaging in

When determining how a product is conceived, planned, produced, and even its physical appearance and its specific characteristics, one is really talking about the product's

Goods can be defined in terms of their physical attributes, but services cannot because they are intangible.

Is the demand strong enough?" is a question that marketers ask during the ____ phase of new-product development.

Roberto recently purchased a new Brunswick Billiards table for his recreation room. The next day after delivery, Roberto noticed a problem with the way one of the pockets was strung. Since it was a weekend, he didn't expect to have it repaired. However, when he called the store to leave a message, someone answered the phone. She gave Roberto a number where he could call a repair representative who would come straight to Roberto's house within an hour. Brunswick Billiards is most likely differentiating itself through

A sign in a doctor's office waiting room says "Please be courteous of the others waiting with you." The doctor's office is trying to positively influence the ____ aspect of services.

A venture team has the authority to execute plans for the development of products.

Erica asks Rebecca what housecleaning service she would recommend in Oakview. Rebecca responds that Pristine Cleaning is great if you can be assured that Jamie will be the person assigned to your house. Rebecca's recommendation addresses which of the following service features?

Product deletion

Identify and describe the three major ways to modify existing products, and give an example of each.

An advantage of heterogeneity is that services can be customized.

Time spent in test marketing can benefit a firm's competitors.

A hair stylist who gives good haircuts in the morning but tends to give haircuts of lesser quality in the afternoon is suffering from the challenges associated with intangibility.

Bethany has just opened a new service business called Paws n' Claws, which provides dog grooming and doggie day care. Bethany has done research about the role dogs play in today's culture, particularly for those people who do not have children. She knows that some of these people represent a target that is urban, professional, and travels frequently. Bethany's business is likely to have a _____ and she will probably refer to the dog owners as ___.

Why do brands require repositioning? What are the ways in which repositioning can be accomplished?

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

Why is it often difficult for organizations to delete products?

Some services are time sensitive, meaning that a significant number of customers desire the service around the same time. This point in time is called