Exam 9: Developing New Products and Services

Ideally, before a new product or service is developed, a firm should have a precise protocol, which is a statement that identifies: (1) a well-defined target market; (2) __________; and (3) what the product or service will be and do to satisfy consumers.

In using a gap analysis, the two basic components of a customer's evaluation of a service are

Accessory equipment are support products that include items such as

Since its launch, Netflix has changed its business model in order to

Until 1996, U.S. carmakers sent very few right-hand-drive cars to Japan while German car makers exported several models with the steering wheel on the right to accommodate the way the Japanese drive their cars on the left side of the road. American car manufacturers could blame their failure to a great degree on

Convenience products refer to

The American Red Cross uses marketing to help achieve its goals. As a service, it can be classified as

Southwest Airlines operates five flights daily between Chicago and Phoenix during the winter. One flight leaves Phoenix at 12:10 p.m. The plane, a Boeing 737, has a capacity of 120 passengers. During the past month, the flight has averaged 24 passengers, a load factor of only 20 percent. Once the plane takes off, the empty seats generate no revenue for the airline for that flight. What unique aspect of services does this situation describe?