Exam 15: Product Development and Supply Chain Management

When a product mix has more product lines,it is has greater

A utility patent covers the appearance of a product and everything that is an inseparable part of the product.

Both the physical movement of products and the establishment of intermediary relationships to guide and support the movement of the products are included in

A bed and breakfast inn that adds a restaurant that is open to the public is an example of unrelated product offerings.

Match the term with its definition. a.Channel of distribution b.Copyright c.Patent d.Product e.Product item f.Product life cycle g.Product line h.Product mix i.Product mix consistency j.Product strategy k.Sustainable competitive advantage l.Warranty -A value-creating position that is likely to endure over time

Match the term with its definition. a.Channel of distribution b.Copyright c.Patent d.Product e.Product item f.Product life cycle g.Product line h.Product mix i.Product mix consistency j.Product strategy k.Sustainable competitive advantage l.Warranty -The similarity of product lines in a product mix

Erica has registered protection for 14 years that covers a new process she has designed.Erica owns a:

Match the term with its definition. a.Brand b.Brand image c.Brand name d.Brandmark e.Design patent f.Direct channel g.Indirect channel h.Patent i.Service mark j.Trade dress k.Trademark l.Utility patent -A legal term indicating that a company has the exclusive right to use a brand to identify a service

Small firms develop significantly more innovations than small companies.

Sandra,after attending culinary school,has returned home to start a small French restaurant using sustainable,local items as well as foods and wines from France.What type of distribution would she have and who would belong at what level?

Match the term with its definition. a.Agents/brokers b.Common carriers c.Contract carriers d.Distribution e.Dual distribution f.Merchant middlemen g.Patent h.Physical distribution (logistics) i.Plant patent j.Private carriers k.Supply chain management l.Third-party logistics firm -Lines of transport owned by shippers

Packaging has very little to do with increasing the value of the total product by creating a distinctive impression.

A growth trap occurs when more cash is needed for a company faster than can be generated in profits.

The three considerations in building a channel of distribution are

Distribution includes only the physical movement of products.

Will,Max and Isaac are brothers and owners of Wood Toys of Yesterday,a company specializing in handmade wood toys typical of the late 1800's.The business had been a part-time enterprise when a national magazine did an October cover story on the company and sales rose by 200% over their normal holiday increase.Make suggestions to them for the company to survive this rapid increase in growth especially considering the nature of their business and the timing of the increase.

Furniture Shine is introducing an improved version of its existing wax targeted to owners of antiques.The firm has decided to leave the original wax in the mix aimed toward residential owners.Furniture Shine is employing a _____ product strategy.

Beatrice is comtemplating whether to offer a warranty on her product.She should remember that warranties are important for products:

The three main considerations in structuring a channel of distribution are cost,coverage,and customer service.

Because growth in sales is perceived as good for business,no changes will be needed in personnel,operations,or management style.