Question 1

Ingredient branding can take on a form called "self-branding" in which the company advertises its own branded ingredients.

Accepted Answer

A) True 
 B)False

Question 2

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

Each layer adds more customer value,and

Question 3

A company's product mix, the set of all products and items a particular seller offer for sale, is important to the company because it allows the company product flexibility. Explain how product-mix dimensions aid company profits.

Accepted Answer

The product-mix dimensions permit the co

Question 4

Betty Crocker cake mixes using Hershey syrup in its cake mixes and "Lunchables" lunch combinations with Taco Bell tacos are examples of what special type of branding?

Accepted Answer

A)  same company co-branding 
B)  self-branding 
C)  mixed branding 
D)  retail co-branding 
E)  ingredient co-branding 
A)  same company co-branding 
B)  self-branding 
C)  mixed branding 
D)  retail co-branding 
E)  ingredient co-branding

Question 5

Delivery refers to how well the product or service is delivered to the customer. It includes speed, ________, and care attending the delivery process.

Accepted Answer

A)  completeness 
B)  type of delivery services 
C)  accuracy 
D)  length of time for delivery 
E)  attributes 
A)  completeness 
B)  type of delivery services 
C)  accuracy 
D)  length of time for delivery 
E)  attributes

Question 6

Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he/she expects the shoes to cover his/her feet and allow them to walk unobstructed. This is an example of what level in the consumer value hierarchy?

Accepted Answer

A)  pure tangible good 
B)  augmented product 
C)  consumption system 
D)  potential product 
E)  basic product 
A)  pure tangible good 
B)  augmented product 
C)  consumption system 
D)  potential product 
E)  basic product

Question 7

Many products can be differentiated in form, features, customization, performance quality, conformance quality, durability, reliability, reparability, and style.

Accepted Answer

A) True 
 B)False

Question 8

Packaging can increase sales and profits for a firm if done correctly. Dutch Boy Paints introduced their Twist & Pour paint container that is significantly different from other paint cans. From the perspective of a marketer, and consumer, packaging must achieve a number of objectives. Which of the following objectives best fits the Dutch Boy container?

Accepted Answer

A)  aid product consumption 
B)  identify the brand 
C)  convey descriptive and persuasive information 
D)  facilitate transportation 
E)  assist at-home storage 
A)  aid product consumption 
B)  identify the brand 
C)  convey descriptive and persuasive information 
D)  facilitate transportation 
E)  assist at-home storage

Question 9

________ occurs when a company lengthens its product line beyond its current range.

Accepted Answer

A)  Product reach 
B)  Line stretching 
C)  Market reach 
D)  Product adaptations 
E)  Line shrinking 
A)  Product reach 
B)  Line stretching 
C)  Market reach 
D)  Product adaptations 
E)  Line shrinking

Question 10

Product-line analysis provides information for two key decision areas product-line length and

Accepted Answer

A)  popular pricing. 
B)  line stretching. 
C)  product pricing. 
D)  product-length new items. 
E)  product-mix pricing. 
A)  popular pricing. 
B)  line stretching. 
C)  product pricing. 
D)  product-length new items. 
E)  product-mix pricing.

Question 11

________ are formal statements of expected product performance by the manufacturer.

Accepted Answer

A)  Marketing statements 
B)  Reputation 
C)  Guarantees 
D)  Warranties 
E)  Insurance 
A)  Marketing statements 
B)  Reputation 
C)  Guarantees 
D)  Warranties 
E)  Insurance

Question 12

Your service firm is contemplating adding a "guarantee" component. Members of senior management are unclear as to the marketing advantages of a guarantee. How would you convince members of senior management that a guarantee can provide a marketing advantage?

Accepted Answer

Guarantees reduce the buyer's perceived

Question 13

Product-line length is important for a company in its pursuit of profit opportunities and is composed of line stretching. Explain the concept of line stretching and the three uses for it.

Accepted Answer

Line stretching occurs when a company le

Question 14

A ________ is the set of all products and items a particular seller offers for sale.

Accepted Answer

A)  product system 
B)  family of products 
C)  product class 
D)  product mix 
E)  product line 
A)  product system 
B)  family of products 
C)  product class 
D)  product mix 
E)  product line

Question 15

Some service firms often engage in ________, consisting of a fixed fee plus a variable usage fee.

Accepted Answer

A)  two-part pricing 
B)  pure pricing 
C)  mixed pricing 
D)  pure bundling 
E)  captive pricing 
A)  two-part pricing 
B)  pure pricing 
C)  mixed pricing 
D)  pure bundling 
E)  captive pricing

Question 16

A marketing manager has decided that the firm's newest product should also carry with it a service component the home installation. When pricing out the product, the marketing manager realizes that the service component should carry a higher margin than the basis hardware product. In terms of sales and profits, the marketing manager is capitalizing on the ________ of the home installation to increase the overall margin of his products.

Accepted Answer

A)  services 
B)  core 
C)  specialty 
D)  convenience 
E)  staple 
A)  services 
B)  core 
C)  specialty 
D)  convenience 
E)  staple

Question 17

The seller of ________ goods carry a wide assortment to satisfy individual tastes and must have well-trained salespeople to inform and advise customers. Examples include furniture, clothing, and major appliances stores.

Accepted Answer

A)  homogeneous shopping goods 
B)  convenience goods 
C)  unsought shopping goods 
D)  specialty shopping goods 
E)  heterogeneous shopping goods 
A)  homogeneous shopping goods 
B)  convenience goods 
C)  unsought shopping goods 
D)  specialty shopping goods 
E)  heterogeneous shopping goods

Question 18

To be branded, physical products must be differentiated.

Accepted Answer

A) True 
 B)False

Question 19

At the heart of a great brand is a great product.

Accepted Answer

A) True 
 B)False

Question 20

The five product levels constitute a ________. At each level more customer value is added.

Accepted Answer

A)  customer perceived value 
B)  customer consumption system 
C)  customer augmented product 
D)  customer value hierarchy 
E)  customer hierarchy 
A)  customer perceived value 
B)  customer consumption system 
C)  customer augmented product 
D)  customer value hierarchy 
E)  customer hierarchy

Ingredient branding can take on a form called "self-branding" in which the company advertises its own branded ingredients.

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.

A company's product mix, the set of all products and items a particular seller offer for sale, is important to the company because it allows the company product flexibility. Explain how product-mix dimensions aid company profits.

Betty Crocker cake mixes using Hershey syrup in its cake mixes and "Lunchables" lunch combinations with Taco Bell tacos are examples of what special type of branding?

Delivery refers to how well the product or service is delivered to the customer. It includes speed, ________, and care attending the delivery process.

Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he/she expects the shoes to cover his/her feet and allow them to walk unobstructed. This is an example of what level in the consumer value hierarchy?

Many products can be differentiated in form, features, customization, performance quality, conformance quality, durability, reliability, reparability, and style.

________ occurs when a company lengthens its product line beyond its current range.

Product-line analysis provides information for two key decision areas product-line length and

________ are formal statements of expected product performance by the manufacturer.

Your service firm is contemplating adding a "guarantee" component. Members of senior management are unclear as to the marketing advantages of a guarantee. How would you convince members of senior management that a guarantee can provide a marketing advantage?

Product-line length is important for a company in its pursuit of profit opportunities and is composed of line stretching. Explain the concept of line stretching and the three uses for it.

A ________ is the set of all products and items a particular seller offers for sale.

Some service firms often engage in ________, consisting of a fixed fee plus a variable usage fee.

The seller of ________ goods carry a wide assortment to satisfy individual tastes and must have well-trained salespeople to inform and advise customers. Examples include furniture, clothing, and major appliances stores.

To be branded, physical products must be differentiated.

At the heart of a great brand is a great product.

The five product levels constitute a ________. At each level more customer value is added.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Position

Competitive Dynamics

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Marketing Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

Filters

Exam 12: Setting Product Strategy

Ingredient branding can take on a form called "self-branding" in which the company advertises its own branded ingredients.

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.

A company's product mix, the set of all products and items a particular seller offer for sale, is important to the company because it allows the company product flexibility. Explain how product-mix dimensions aid company profits.

Betty Crocker cake mixes using Hershey syrup in its cake mixes and "Lunchables" lunch combinations with Taco Bell tacos are examples of what special type of branding?

Delivery refers to how well the product or service is delivered to the customer. It includes speed, ________, and care attending the delivery process.

Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he/she expects the shoes to cover his/her feet and allow them to walk unobstructed. This is an example of what level in the consumer value hierarchy?

Many products can be differentiated in form, features, customization, performance quality, conformance quality, durability, reliability, reparability, and style.

________ occurs when a company lengthens its product line beyond its current range.

Product-line analysis provides information for two key decision areas product-line length and

________ are formal statements of expected product performance by the manufacturer.

Your service firm is contemplating adding a "guarantee" component. Members of senior management are unclear as to the marketing advantages of a guarantee. How would you convince members of senior management that a guarantee can provide a marketing advantage?

Product-line length is important for a company in its pursuit of profit opportunities and is composed of line stretching. Explain the concept of line stretching and the three uses for it.

A ________ is the set of all products and items a particular seller offers for sale.

Some service firms often engage in ________, consisting of a fixed fee plus a variable usage fee.

The seller of ________ goods carry a wide assortment to satisfy individual tastes and must have well-trained salespeople to inform and advise customers. Examples include furniture, clothing, and major appliances stores.

To be branded, physical products must be differentiated.

At the heart of a great brand is a great product.

The five product levels constitute a ________. At each level more customer value is added.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Position

Competitive Dynamics

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Marketing Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

Filters