Exam 12: Setting Product Strategy

________ are the major factors influencing the selection of suppliers for natural products.

To avoid "feature fatigue," companies must be careful to prioritize those features that are included and find unobtrusive ways to provide information about how consumers can use and benefit from the feature.

Supplies can be classified as two kinds: maintenance and repair items and operating supplies.

As the marketing manager for your firm,you have been approached by your key component manufacturer suggesting that your two firms "ingredient brand" a new item.What are some of the requirements for succeeding in ingredient branding

The ________ of a product mix refers to how many variants are offered of each product in the line.

When Baxter Medical supplied their hospitals with computer terminals directly linked to Baxter's ordering system,this was an example of a company differentiating itself versus competition in terms of ________.

The four product-mix dimensions (length,width,depth,consistency)permit the company to expand its business.

A guarantee's greatest contribution to a product's success is that it decreases the buyer's perceived risk in the purchase of the product.

If the physical product cannot be easily differentiated,the key to competitive advantage lies in the pricing of the related "services" provided by the manufacturer.

Price-setting logic must be modified when the product is part of a product mix.

Explain the concept of line stretching and the three uses for it.

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

You know that your small firm cannot compete with the "big boys" in terms of price and promotion.Instead,you have decided to "outdesign" them.What is necessary for this strategy of "outdesigning them" to succeed

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

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

Line filling,if overdone,may result in self-cannibalization and increased customer loyalty.

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

Companies normally develop product lines rather than single products and require sellers to establish ________ quality differences between price steps within the line.

McDonald's restaurants inside Super Wal-Marts and Starbucks inside Super Targets are examples of ________,whose main advantages are that the products can or may be convincingly positioned by virtue of the associated brands.

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.