Question 1

The customer value hierarchy consists of the basic product, core benefit, expected product, augmented product, and the consumption system.

Accepted Answer

A) True 
 B)False

Question 2

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and

Accepted Answer

A)  component materials. 
B)  farm products. 
C)  natural products. 
D)  operating supplies. 
E)  equipment. 
A)  component materials. 
B)  farm products. 
C)  natural products. 
D)  operating supplies. 
E)  equipment.

Question 3

Manufacturers of systems such as razors and ink jet printers use a system of pricing called "two-part pricing" one price for the disposable products and another for the "hardware."

Accepted Answer

A) True 
 B)False

Question 4

As the marketing manager for a product often referred to as a "commodity," you know that incremental sales and profits lies not in physical differentiation but in "service" differentiation. As you compose a memo to your boss regarding the concept of "service" differentiation, you note the six areas where service differentiation can make a difference. List these six areas for service differentiation.

Accepted Answer

The main service differentiato

Question 5

________ is a special case of co-branding involving creating brand equity for materials, components, or parts that are necessarily contained within other branded products.

Accepted Answer

A)  Sales branding 
B)  Advertising branding 
C)  Ingredient branding 
D)  Component branding 
E)  Tied-in branding 
A)  Sales branding 
B)  Advertising branding 
C)  Ingredient branding 
D)  Component branding 
E)  Tied-in branding

Question 6

Marc Lafontaine routinely purchases the same brand of crackers with his weekly groceries. How would crackers be classified in this case?

Accepted Answer

The vast array of goods purchased by con

Question 7

Product-line managers need to know the sales and profits of each item in their line in order to estimate growth, sales, and profits in the future.

Accepted Answer

A) True 
 B)False

Question 8

In discussions with your packaging design team, it seems that they are unclear as to what should be included on the final product (consumer package) packaging. You list these objectives in a memo. List these objectives here.

Accepted Answer

Labels must first identify the product o

Question 9

Pure bundling occurs when a firm offers goods both individually and in bundles.

Accepted Answer

A) True 
 B)False

Question 10

Design offers a potent way to differentiate and position a company's products and services.

Accepted Answer

A) True 
 B)False

Question 11

The product hierarchy stretches from basic needs to particular items that satisfy those needs.

Accepted Answer

A) True 
 B)False

Question 12

A new product is advertised on the "infomercials" as being "the best cleaner money can buy" and "if not completely satisfied, return the product for a full refund, including shipping." The strategy to use a strong guarantee in this instance is "sound" because

Accepted Answer

A)  the product is so superior to competition that there will be no claims for refunds. 
B)  it is an example of a misleading or false advertising and is illegal. 
C)  for a product that is not too well known it is "good advertising" because the claims will be a small percentage of sales. 
D)  it is just "advertising fluff" and the manufacturer has no intentions of refunding money. 
E)  for a product that is not too well known it reduces the buyer's perceived risk in purchasing. 
A)  the product is so superior to competition that there will be no claims for refunds. 
B)  it is an example of a misleading or false advertising and is illegal. 
C)  for a product that is not too well known it is "good advertising" because the claims will be a small percentage of sales. 
D)  it is just "advertising fluff" and the manufacturer has no intentions of refunding money. 
E)  for a product that is not too well known it reduces the buyer's perceived risk in purchasing.

Question 13

Various factors have contributed to the growth of packaging as a marketing tool and include self-service, consumer affluence, consumer independence, company and brand image, and innovation opportunities.

Accepted Answer

A) True 
 B)False

Question 14

The product-line manager must review how the line is positioned against competitors' lines.

Accepted Answer

A) True 
 B)False

Question 15

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 eight ways. These eight areas comprise the "meat" of the memo you are writing to the President of your form. What are the ten ways that physical products can be differentiated?

Accepted Answer

The eight ways that physical p

Question 16

The customer will judge the offering by three basic elements: ________, services mix and quality, and price.

Accepted Answer

A)  salespeople 
B)  price 
C)  performance 
D)  core benefit 
E)  product features and quality 
A)  salespeople 
B)  price 
C)  performance 
D)  core benefit 
E)  product features and quality

Question 17

You know that marketers have traditionally classified products based on characteristics: durability, tangibility, and use. You also know that each product type has an appropriate marketing-mix strategy attached. In analyzing your company's products, you decide to list each of these products and the appropriate marketing-mix strategy to understand where your products "fit." List these products and their appropriate marketing-mix strategies.

Accepted Answer

(1)Nondurable goods-the appropriate stra

Question 18

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

Product-line managers need to know the s

Question 19

The Santaguida family shops for groceries weekly at at least three different stores; they buy only vegetables that are in season, and they compost rather than disposing peels and seeds in the trash. This type of consumer information forms the basis of product strategy. First, provide the term for this concept and second, identify the two upcoming product strategies that are affected by this knowledge.

Accepted Answer

This is called the users total consumpti

Question 20

The consumer usually purchases ________ frequently, immediately, and with a minimum of effort.

Accepted Answer

A)  specialty goods 
B)  convenience goods 
C)  "must haves" goods 
D)  shopping goods 
E)  personal goods 
A)  specialty goods 
B)  convenience goods 
C)  "must haves" goods 
D)  shopping goods 
E)  personal goods

The customer value hierarchy consists of the basic product, core benefit, expected product, augmented product, and the consumption system.

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and

Manufacturers of systems such as razors and ink jet printers use a system of pricing called "two-part pricing" one price for the disposable products and another for the "hardware."

________ is a special case of co-branding involving creating brand equity for materials, components, or parts that are necessarily contained within other branded products.

Marc Lafontaine routinely purchases the same brand of crackers with his weekly groceries. How would crackers be classified in this case?

Product-line managers need to know the sales and profits of each item in their line in order to estimate growth, sales, and profits in the future.

In discussions with your packaging design team, it seems that they are unclear as to what should be included on the final product (consumer package) packaging. You list these objectives in a memo. List these objectives here.

Pure bundling occurs when a firm offers goods both individually and in bundles.

Design offers a potent way to differentiate and position a company's products and services.

The product hierarchy stretches from basic needs to particular items that satisfy those needs.

A new product is advertised on the "infomercials" as being "the best cleaner money can buy" and "if not completely satisfied, return the product for a full refund, including shipping." The strategy to use a strong guarantee in this instance is "sound" because

Various factors have contributed to the growth of packaging as a marketing tool and include self-service, consumer affluence, consumer independence, company and brand image, and innovation opportunities.

The product-line manager must review how the line is positioned against competitors' lines.

The customer will judge the offering by three basic elements: ________, services mix and quality, and price.

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 consumer usually purchases ________ frequently, immediately, and with a minimum of effort.

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

The customer value hierarchy consists of the basic product, core benefit, expected product, augmented product, and the consumption system.

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and

Manufacturers of systems such as razors and ink jet printers use a system of pricing called "two-part pricing" one price for the disposable products and another for the "hardware."

________ is a special case of co-branding involving creating brand equity for materials, components, or parts that are necessarily contained within other branded products.

Marc Lafontaine routinely purchases the same brand of crackers with his weekly groceries. How would crackers be classified in this case?

Product-line managers need to know the sales and profits of each item in their line in order to estimate growth, sales, and profits in the future.

In discussions with your packaging design team, it seems that they are unclear as to what should be included on the final product (consumer package) packaging. You list these objectives in a memo. List these objectives here.

Pure bundling occurs when a firm offers goods both individually and in bundles.

Design offers a potent way to differentiate and position a company's products and services.

The product hierarchy stretches from basic needs to particular items that satisfy those needs.

A new product is advertised on the "infomercials" as being "the best cleaner money can buy" and "if not completely satisfied, return the product for a full refund, including shipping." The strategy to use a strong guarantee in this instance is "sound" because

Various factors have contributed to the growth of packaging as a marketing tool and include self-service, consumer affluence, consumer independence, company and brand image, and innovation opportunities.

The product-line manager must review how the line is positioned against competitors' lines.

The customer will judge the offering by three basic elements: ________, services mix and quality, and price.

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 consumer usually purchases ________ frequently, immediately, and with a minimum of effort.

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