Exam 12: Setting Product Strategy

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

Window cleaning services, consumable office supplies, personal computers, desk, paint, nails, and buckets are all considered a type of industrial goods. How would you classify these items?

A pricing system in which there is a "fixed" fee and then a variable "usage" fee is called bundling.

When the physical product cannot be easily differentiated, the key to competitive success may lie in adding valued services and improving their quality. The main service differentiators are ordering ease, delivery, installation, ________, customer consulting, maintenance, and repair.

Most products can be offered with varying ________ that supplement its basic function.

The ________ of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way.

Packaging is all the activities of designing and producing the container for a product.

How a consumer shops for organic foods and how they use and dispose of the product is part of the consumer's ________ that is important for marketers to consider.

The branding of products that have similar characteristics, form, features, and benefits is a tough job for marketers. Some marketers have had success with products like Lilydale chickens and Bayer aspirins. Others struggle to keep their brand names out of "common usage" such as Xerox and Kleenex for copiers and tissues. Which of the following bases for differentiation involves calculating customer value versus company cost?

A label performs several functions for a product. Attractive graphics are used to ________ the product inside.

Companies in the "middle market" should not attempt to stretch their line in both directions.

Factors that influence product-line length do not include company objectives.

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

The vast array of goods consumers buy can be classified on the basis of needs.

A ________ is defined as a distinct unit within a brand or product line distinguishable by size, price, appearance, or some other attribute.

A benefit of product mapping is that it identifies ________.

A product is anything that can be offered to a market to satisfy a want or need.

The vast array of products that consumers buy can be classified on the basis of shopping habits and are broken down into four main areas. List these four main areas of consumer shopping habits and explain what elements are included within.

Guarantees' greatest contribution to a product's success is that they decrease the buyer's perceived risk in the purchase of the product.

Supplies and business services are short-term goods and services that facilitate ________ or managing the finished product.