Exam 8: Product Concepts

All sales have an implied warranty.

What is the difference between a homogeneous shopping product and a heterogeneous shopping product? Give specific examples of products that fit into each category to help illustrate your answer.

Which of the following is the best example of a shopping product for most consumers?

A go-cart manufacturer recently added shock absorbers to make the ride in its go-carts smoother.It has not changed its prices.What type of modification is this?

Choice Homes,Inc.built its reputation by building high-quality new homes,often at prices less than older ones.Choice Homes used mass purchasing power,innovative high-tech communications among employees to coordinate the building process,and other entrepreneurial strategies to hold costs down.Its homes are primarily targeted at first-time homeowners in an effort to get people out of apartments so they can experience the joy of home ownership for the same price as rent.Choice Homes later developed the "Choice Classic" brand name for higher-end homes targeted at wealthier dual-earner couples.The Choice Classic name was designed to capitalize on the reputation of Choice Homes,especially for current Choice home owners who are ready to "move up" to a larger home.Recently,Choice Homes started a third line of homes called "Reflections," which are expensive,custom-designed homes located in exclusive,prestigious neighbourhoods. -Refer to Choice Homes,Inc.What do the three different brands of homes (Choice,Choice Classic,and Reflections)represent?

Isaac Golding,owner of a tutoring service,has developed a design for his firm that includes an owl wearing large spectacles and carrying a satchel crammed with books and papers.He plans to use this design on all communication that the firm sends out.This design is called the firm's brand name.

Unilever makes four different brands of ice cream (Magnum,Solero,Ben & Jerry's,and Breyers).What is this an example of?

Choice Homes,Inc.built its reputation by building high-quality new homes,often at prices less than older ones.Choice Homes used mass purchasing power,innovative high-tech communications among employees to coordinate the building process,and other entrepreneurial strategies to hold costs down.Its homes are primarily targeted at first-time homeowners in an effort to get people out of apartments so they can experience the joy of home ownership for the same price as rent.Choice Homes later developed the "Choice Classic" brand name for higher-end homes targeted at wealthier dual-earner couples.The Choice Classic name was designed to capitalize on the reputation of Choice Homes,especially for current Choice home owners who are ready to "move up" to a larger home.Recently,Choice Homes started a third line of homes called "Reflections," which are expensive,custom-designed homes located in exclusive,prestigious neighbourhoods. -Refer to Choice Homes,Inc.Choice Homes is considering acquiring a mortgage and title company to add to its marketing power in selling homes.What would this acquisition expand?

The Crayola brand is currently placed on a wide variety of products,including crayons (standard and fluorescent colours packaged in a wide variety of box sizes),markers (regular and washable),paints (watercolour and acrylic),scissors,glue,and children's clothing.Using this illustration as an example,answer the following questions: What is a product item? A product line? A product mix?

Ocean Spray manufactures Cranberry Juice Cocktails.The addition of Light Cranberry Juice Cocktails is a way that Ocean Spray can expand which of the following?

Crayola makes various products that are all targeted toward elementary school children.Drawing,painting,and supply items are sold at convenience stores,toy stores,and grocery stores.Clothing is sold in department stores.Crayola might arrange its product items in the following way: DrawinedPaintine Supplies Textiles Crayons, regular wax Crayon sharpeners Bcys' clothing Crayons, fluorescent Paint brushes Girls' clothing Markers, regular Scissars Bed and bath linens Markers, washable Glue Watercalour paints Storage cases Acrylic paints Challs What is the product mix width for Crayola? What is its product line depth?

What is the consumer product classification system based on?

Erika had a bicycle tire go flat while on a biking trip across Nova Scotia.She normally uses Michelin tires but settled for an Excel brand tire because that was the only brand stocked at the closest bicycle shop.For Erika,what is the recent tire purchase an example of?

Rexona is the number-one brand of deodorant brand worldwide. -Refer to Rexona.The brand is a leader in Europe,South America,Asia,Africa,and the Middle East.What is Rexona an example of?

Rosa's husband,Phil,has a cold.Rosa went to the store to buy something that would help Phil sleep.Rosa purchased Breathe Right nasal strips embedded with Vicks mentholated vapour rub.The package showed both the Breathe Right and the Vicks brand names.What type of branding is this?

For years,many people thought plastic wrap was almost impossible to use and refused to buy the product.The manufacturer of Saran plastic wrap has spent many advertising dollars advising customers on how to eliminate the problems associated with the use of plastic wrap.What has this manufacturer engaged in?

A product may be defined as everything,both favourable and unfavourable,that a person receives in an exchange.

Shaun likes Michelin tires for his bicycle.If he needs new bicycle tires when Michelins are not on sale,he is willing to pay a higher price for Michelin rather than buy some other brand of bicycle tire.Shaun could be described as being brand loyal to Michelin.

Which of the following is the part of the brand that can be spoken?

Cinnamon Toast Crunch,Cocoa Puffs,and Trix cereals are now available with less sugar.Notices on the cereal boxes announce that these cereals now contain "75 percent less sugar." -Refer to Low-sugar Cereals.When would these notices be examples of persuasive labelling?