Exam 12: Setting Product Strategy

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

When a physical product cannot easily be differentiated,the key to competitive success may lie in adding valued services and improving quality.Identify and discuss the six main service differentiators.

Marriott Corporation now contains hotels and motels from the "budget" end of the consumer spectrum to the "premium" end with their JD Marriott flagship locations.This is an example of a firm that successfully performed a ________ to reach more consumers and ventures that are more profitable.

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

Moving ________ carries risks.The new brand can cannibalize core brand sales and lower the core brand's quality image.

Marketers have traditionally classified products on the basis of three characteristics: ________,tangibility,and use.

It was sunny when Jenny went to class,but by the time class was over it was raining heavily,so Jenny stopped by the student store to buy an umbrella before she walked back to her dorm.In this case,the umbrella is an example of a(n)________.

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.

When differentiated,products can then be branded.List the possible ways that physical products can be differentiated.

Factors that influence product-line length do NOT include company objectives or management aspirations.

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

Your research shows that over 53% of all purchases are made on impulse.As you sit down with your packaging design team,you tell them that the package must communicate many of the sales tasks.List the sales tasks that packaging must now incorporate due to the increase in self-service sales.

Every company's product line covers a certain part of the total possible range of products and consumer levels.

A manufacturer of hiking boots looks at data that indicate that their subsegment of the market called "serious hiker" is declining and is predicted to decline into the future.The firm decides to enter the "low-price" segment with its new items.This is an example of a firm's ________ to reach a new market.

How do the four product-mix dimensions (width,length,depth,and consistency)affect a firm's product and corporate strategies

Industrial goods can be classified as ________,capital items,or suppliers and business services based on their costliness and how they enter the production process.

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

A product line can also be lengthened by adding more items within the present range.There are several motives for line filling: ________,trying to satisfy dealers who complain about lost sales because of missing items in the line,trying to utilize excess capacity,and others.

The main point in segmenting products into different classes is that companies should recognize that these items ________ in the potential for being priced higher or advertised more as ways to increase sales,margins,or both.

In discussions with the packaging design team,you note that they do not have a firm design objective for the final package.In an internal memo to your boss,you outline the objectives (both company and consumer orientated)that you wish to see implemented by the design team.List these objectives.