Question 1

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

Accepted Answer

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

Question 2

If the Porsche 911 is designed to accelerate to 60 miles per hour within 10 seconds,and every Porsche 911 coming off the assembly line does this,the model is said to have high ________.

Accepted Answer

A)  reliability 
B)  conformance quality 
C)  durability 
D)  repairability 
E)  style 
A)  reliability 
B)  conformance quality 
C)  durability 
D)  repairability 
E)  style

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Companies normally develop product lines rather than a single product and introduce price steps such as a "low-," "average-," and "high-" priced computer system.

Accepted Answer

A) True 
 B)False

Question 7

Companies may wish to implement a(n)________ to achieve more growth,to realize higher margins,or simply to position themselves as full-line manufacturers.

Accepted Answer

A)  up-market stretch 
B)  down-market stretch 
C)  service-market stretch 
D)  consulting-model stretch 
E)  obsolescence strategy 
A)  up-market stretch 
B)  down-market stretch 
C)  service-market stretch 
D)  consulting-model stretch 
E)  obsolescence strategy

Question 8

Marketers have traditionally classified products on the basis of characteristics such as durability,tangibility,and use.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

To be branded,physical products must be differentiated.

Accepted Answer

A) True 
 B)False

Question 11

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)  Mixed branding 
B)  Ingredient co-branding 
C)  Co-branding 
D)  Self-branding 
E)  None of the above 
A)  Mixed branding 
B)  Ingredient co-branding 
C)  Co-branding 
D)  Self-branding 
E)  None of the above

Question 12

Many products can be differentiated in terms of their ________,-size,shape,or physical structure.

Accepted Answer

A)  form 
B)  performance quality 
C)  conformance quality 
D)  reliability 
E)  design 
A)  form 
B)  performance quality 
C)  conformance quality 
D)  reliability 
E)  design

Question 13

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 14

In planning its market offering,the marketer needs to address five product levels,each of which reduces customer value.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A)  natural products 
B)  component materials 
C)  operating supplies 
D)  equipment 
E)  none of the above 
A)  natural products 
B)  component materials 
C)  operating supplies 
D)  equipment 
E)  none of the above

Question 16

Marketing planning begins with the formulation of an offering to ________ target customers' needs or wants.

Accepted Answer

A)  undermine 
B)  meet 
C)  capture 
D)  compete with 
E)  comprehend 
A)  undermine 
B)  meet 
C)  capture 
D)  compete with 
E)  comprehend

Question 17

The ________ of the product mix refers to the total number of items in the mix.

Accepted Answer

A)  width 
B)  length 
C)  depth 
D)  consistency 
E)  height 
A)  width 
B)  length 
C)  depth 
D)  consistency 
E)  height

Question 18

Labels can identify the product and must contain legal statements that under various Federal laws cannot be misleading,false,or deceptive.

Accepted Answer

A) True 
 B)False

Question 19

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 20

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.

Accepted Answer

A)  consistency 
B)  depth 
C)  width 
D)  length 
E)  composition 
A)  consistency 
B)  depth 
C)  width 
D)  length 
E)  composition

Exam 12: Setting Product Strategy

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

If the Porsche 911 is designed to accelerate to 60 miles per hour within 10 seconds,and every Porsche 911 coming off the assembly line does this,the model is said to have high ________.

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

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

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

Companies normally develop product lines rather than a single product and introduce price steps such as a "low-," "average-," and "high-" priced computer system.

Companies may wish to implement a(n)________ to achieve more growth,to realize higher margins,or simply to position themselves as full-line manufacturers.

Marketers have traditionally classified products on the basis of characteristics such as durability,tangibility,and use.

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

To be branded,physical products must be differentiated.

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

Many products can be differentiated in terms of their ________,-size,shape,or physical structure.

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."

In planning its market offering,the marketer needs to address five product levels,each of which reduces customer value.

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

Marketing planning begins with the formulation of an offering to ________ target customers' needs or wants.

The ________ of the product mix refers to the total number of items in the mix.

Labels can identify the product and must contain legal statements that under various Federal laws cannot be misleading,false,or deceptive.

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

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.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, Satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing with Competition

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

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