Exam 8: Elements of Product Planning for Goods and Services

Regarding consumer products,

Which of the following statements about packaging is TRUE?

Roberto Vasquez has never owned a Samsung TV, but his parents owned one and were not at all satisfied. As a result, Roberto won't even consider buying a Samsung. As far as Roberto is concerned, Samsung has achieved brand ______________.

"Branding" includes the use of trademarks and brand names to identify a product.

Capital items which are more expensive and longer-lived than installations are called accessory equipment.

The definition of quality focuses on the producer.

The primary purpose of branding is:

A $50 consumer product which is purchased infrequently is:

A service logo refers to a type of trademark used for a service offering.

The main difference between installations and accessory equipment is that accessories are capital items while installations are expense items.

Shopping products that a customer sees as different and wants to inspect for quality and suitability are heterogeneous shopping products.

Dealer brands are brands created by producers.

If a firm offers a service guarantee, it

Business product classes are based on how buyers think about products and how the products will be used.

A Xerox photocopy machine in the university chancellor's office is an example of what type of business product?

For six months Kim Wu has been working for Sunny Day Foods (SDF), a fast-growing manufacturer of organic foods. After graduating college, she worked for four years as a sales rep for a nationally known food company. But, she jumped at the chance when SDF contacted her about becoming marketing manager for its breakfast foods division, which sells dry cereals and a pancake mix. Kim spent the first few months on the job trying to better understand SDF, its product line, and marketing strategy. She reviewed the company's past marketing research, commissioned new research, and talked to both consumers and retailers. Now, the CEO of the company wants her thoughts on what the company's marketing strategy should be for the next few years. Her research indicates that among cereal customers there are at least five segments of customers who use SDF products. A. One segment, the loyalists, has a strong preference for one or two of the SDF cereals. These customers often go out of their way to visit a store with their favorite SDF cereal and buy only that product at the store. B. Another segment, the regulars, buys SDF cereals without much thought. For them it is just part of their routine and, if you ask them why they pick the cereal, they'd say it's just a habit. C.A third segment, the deal prone, sees SDF cereals as just another organic cereal. They view all organic cereals as pretty much the same and buy whichever brand seems to offer the best deal that week. D.A fourth segment, the politicos, consists of former buyers of SDF cereals. A few years ago the company took a strong stand in a presidential race-and these customers resented it. Now, they boycott all SDF foods because of that incident. E.A fifth segment, SDF who?, is made up of consumers who buy organic cereals but who don't have much awareness of particular organic brand names. In reviewing how SDF currently brands its products, Kim sees that it is using several different approaches. The Sunny Day Foods brand is used on most products the company sells. But a few years ago the company brought out an instant organic oatmeal with the Hot 'n Healthy name. SDF also makes cereal sold by a health food chain; the package for that chain uses the store's own name, Nature's Foods, as the brand name for the cereal. What best describes the level of brand familiarity that customers in "SDF who?" segment have with SDF?

Luke Flaherty wants to buy an electric drill for some jobs around his home. Deciding that all such drills are similar, he reads all the advertisements in his Sunday paper in search of the best price. For Luke, these drills are:

The Federal Fair Packaging and Labeling Act of 1966 requires that firms in a product-market reduce the number of package sizes to three or fewer for any product.

For dieters, the highest quality potato chips are probably:

When customers have consistently positive experiences with a brand, or they hear good things from the firm's promotion or other customers, we can expect that customers will _______ that brand name.