Exam 9: Product and Service Strategies

How might you categorize convenience products that customers constantly replenish in order to maintain a ready inventory?

After researching and comparing several types of alarm clocks, Trisha decided on one that gives a choice of being wakened to music, bird calls, or ocean waves.In this case, what type of product would the alarm clock be classified as?

What is a series of related products offered by one company called?

Which of the following is a single product line?

Hershey's introduction of a sugar-free version of its candy bar is an example of line extension.

What type of product is marketed to consumers who may NOT yet recognize a need for them?

The moderately priced Days Inn and the upscale Four Seasons Hotel both provide sleeping accommodations, but their respective guests have considerably different expectations of service.Why do their expectations differ?

A slotting allowance is money paid by a producer to a retailer to guarantee display of its merchandise.

Identify and describe the stages of the product life cycle.

Examples of impulse goods and services include stopping at a car wash on the way home or buying a pack of gum while standing in the checkout line.

Homogeneous products can be easily differentiated, often using obvious characteristics such as style, colour, and fit.

During what stage of the product life cycle does product differentiation and heavy advertising MOST often occur?

Define benchmarking and discuss how it helps to improve a marketing strategy.

Representatives that sell installations to the business market often provide technical expertise along with tangible goods.

Accessory equipment for the business market includes products such as hand tools, portable drills, and laptop computers.

Which of the following are consumer shopping products?

What is a characteristic of the decline stage of the product life cycle?

The marketing mix is the blend of product, price, distribution, and promotion that a firm develops as its marketing strategy to satisfy a chosen target market.

In the business market, what are computer paper, pencils, and office stationery examples of?

On the goods-services continuum, a meal at a fine restaurant is considered a pure good, even when one considers that excellent service is part of what one values in the experience.