Exam 15: Product Development and Supply Chain Management

Describe the differences between a brand,a logo,a trademark and a service mark.In what order would they be developed?

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 -The activities of distribution involved in the physical relocation of products

A brand includes the verbal identification of a productas well as symbols or other means of identifying a product.

Distribution is essential for tangible goods,but not for intangible goods.

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 system of relationships established to guide the movement of a product

High performing companies

Shippers that own their own means of transport are called private carriers.

Love Languages is introducing an improved version of its tutoring targeted to students who want more in-depth assistance using a CD format.The company has decided to continue to offer their original tutoring package and aim the new product at the original target market;therefore,they are employing a ____ product strategy.

In the physical development stage of the product development process,new products are analyzed resulting in ideas failing to show possible profitability being discarded.

3PLs are considered more cost effective by many small businesses because it allows the company to focus on the primary operations and outsource the accounting challenges to another company.

Judy is opening a small business producing high-quality paper products and has decided to place a green pine tree on all product boxes and on the sign outside the facilities to symbolize the business.At this point,the symbol is an example of a

Donnie owns a small tree farm known in the region for its maples.He has been approached about expanding.What supply chain issues would he face?

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 -A system of management that integrates and coordinates the ways in which a firm finds the raw materials to make a product,creates the product,delivers it to customers,and receives payment for it

The activities of physically moving a product is

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 lowest common denominator in the product mix--the individual item

The profit curve is the lowest in which stage of the product life cycle?

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 collection of a firm's total product lines

If a firm extends a janitorial cleanser from the industrial market to reach the home market,it is following a one product/multiple markets strategy.

Delivery terms specify which party pays the freight costs,selects carriers,bears the risk of damage,and selects the modes of transport.

Amazon.com is a