Question 1

What is the significance of design for a company's products and services? What are the advantages of a good design?

Accepted Answer

Design offers a potent way to differentiate and position a company's products and services. Design is the totality of features that affect how a product looks, feels, and functions to a consumer. Design offers functional and aesthetic benefits and appeals to both our rational and emotional sides. The designer must figure out how much to invest in form, feature development, performance, conformance, durability, reliability, reparability, and style. To the company, a well-designed product is easy to manufacture and distribute. To the customer, a well-designed product is pleasant to look at and easy to open, install, use, repair, and dispose of. The designer must take all these factors into account. Design can shift consumer perceptions to make brand experiences more rewarding. Design should penetrate all aspects of the marketing program so that all design aspects work together.

Question 2

Durable products normally require less personal selling and service and less seller guarantees than nondurable goods.

Accepted Answer

A) True 
 B)False  False

Question 3

A company positioned in the "middle" market introduces a lower-priced product line. What type of line-stretching is this?

Accepted Answer

A)   home stretch
B)   up-market stretch
C)   down-market stretch
D)   maintenance stretch
E)   two-way stretch C

Question 4

Marketers have traditionally classified products on the basis of three characteristics: ________, tangibility, and use.

Accepted Answer

A)   availability
B)   affordability
C)   aesthetics
D)   durability
E)   necessity

Question 5

A ________ is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.

Accepted Answer

A)   function
B)   product
C)   benefit
D)   process
E)   structure

Question 6

McDonald's restaurants inside Walmart stores and Starbucks inside Super Targets are examples of ________, whose main advantages are that the products can or may be convincingly positioned by virtue of the associated brands.

Accepted Answer

A)   cooperative marketing
B)   cross-promotion
C)   retail co-branding
D)   ingredient branding
E)   feature promotion

Question 7

In planning its market offering, the marketer must address the five product levels of the customer-value hierarchy. Describe the "customer-value hierarchy" and identify the five levels of product contained within.

Accepted Answer

The answer of In planning its market offering, the marketer...

Question 8

Which of the following is a benefit of product mapping?

Accepted Answer

A)   studying market matrices
B)   integrating target markets
C)   identifying market segments
D)   educating consumers
E)   integrating target matrices

Question 9

You have been asked to prepare a product-line analysis for your company's stable of products. Why is it important for product-line mangers to do a product-line analysis?

Accepted Answer

The answer of You have been asked to prepare a...

Question 10

In your position as a marketing manager for a small industrial company, you have been asked by the president to help differentiate the company's product from its competitors. In reviewing your marketing management notes, you note that the text stated that physical products could be differentiated in nine ways. These nine areas comprise the "meat" of the memo you are writing to the president of your firm. What are the nine ways that physical products can be differentiated?

Accepted Answer

The answer of In your position as a marketing manager...

Question 11

The ________ of the product mix refers to the total number of items in the mix.

Accepted Answer

A)   width
B)   length
C)   depth
D)   breadth
E)   range

Question 12

The Robinson-Patman Act, passed by Congress in 1967, set mandatory labeling requirements, encouraged voluntary industry packaging standards, and allowed federal agencies to set packaging regulations in specific industries.

Accepted Answer

A) True 
 B)False

Question 13

Marriott Corporation now contains hotels and motels from the "budget" end of the consumer spectrum to the "premium" end with their JD Marriott flagship locations. This is an example of a firm that successfully performed a(n) ________ to reach more consumers and ventures that are more profitable.

Accepted Answer

A)   upstream integration
B)   two-way stretch
C)   up-market stretch
D)   down-market stretch
E)   downstream integration

Question 14

Every company's product line covers a certain part of the total possible range of products and consumer levels.

Accepted Answer

A) True 
 B)False

Question 15

Customer training and customer consulting are two areas for service differentiation that manufacturers can use with their products.

Accepted Answer

A) True 
 B)False

Question 16

Smith & Adams Poultry has recently upgraded its transactional model such that its customers (restaurants and hotels) can communicate with its central supply system to indicate purchase volumes, dates, and receive confirmation, through their computer terminals. This is an example of a company differentiating itself versus competition in terms of ________.

Accepted Answer

A)   customer relationships
B)   customer training
C)   installation
D)   delivery ease
E)   ordering ease

Question 17

As the marketing manager for your firm, you have been approached by your key component manufacturer suggesting that your two firms "ingredient brand" a new item. What are some of the requirements for succeeding in ingredient branding?

Accepted Answer

The answer of As the marketing manager for your firm,...

Question 18

A guarantee's greatest contribution to a product's success is that it decreases the buyer's perceived risk in the purchase of the product.

Accepted Answer

A) True 
 B)False

Question 19

If the Ford GT is designed to accelerate to 50 miles per hour within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have high ________.

Accepted Answer

A)   reliability
B)   conformance quality
C)   durability
D)   compatibility
E)   interoperability

Question 20

The way the user performs the tasks of getting and using products and related services is the user's total ________.

Accepted Answer

A)   consumption system
B)   consumable system
C)   consistent use system
D)   augmented system
E)   potential system

Exam 13: Setting Product Strategy

What is the significance of design for a company's products and services? What are the advantages of a good design?

Durable products normally require less personal selling and service and less seller guarantees than nondurable goods.

A company positioned in the "middle" market introduces a lower-priced product line. What type of line-stretching is this?

Marketers have traditionally classified products on the basis of three characteristics: ________, tangibility, and use.

A ________ is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.

McDonald's restaurants inside Walmart stores and Starbucks inside Super Targets are examples of ________, whose main advantages are that the products can or may be convincingly positioned by virtue of the associated brands.

In planning its market offering, the marketer must address the five product levels of the customer-value hierarchy. Describe the "customer-value hierarchy" and identify the five levels of product contained within.

Which of the following is a benefit of product mapping?

You have been asked to prepare a product-line analysis for your company's stable of products. Why is it important for product-line mangers to do a product-line analysis?

The ________ of the product mix refers to the total number of items in the mix.

The Robinson-Patman Act, passed by Congress in 1967, set mandatory labeling requirements, encouraged voluntary industry packaging standards, and allowed federal agencies to set packaging regulations in specific industries.

Marriott Corporation now contains hotels and motels from the "budget" end of the consumer spectrum to the "premium" end with their JD Marriott flagship locations. This is an example of a firm that successfully performed a(n) ________ to reach more consumers and ventures that are more profitable.

Every company's product line covers a certain part of the total possible range of products and consumer levels.

Customer training and customer consulting are two areas for service differentiation that manufacturers can use with their products.

As the marketing manager for your firm, you have been approached by your key component manufacturer suggesting that your two firms "ingredient brand" a new item. What are some of the requirements for succeeding in ingredient branding?

A guarantee's greatest contribution to a product's success is that it decreases the buyer's perceived risk in the purchase of the product.

If the Ford GT is designed to accelerate to 50 miles per hour within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have high ________.

The way the user performs the tasks of getting and using products and related services is the user's total ________.